Breune's take on the shift toward mobile banking/mobile account management:
Bottom line: It is no
surprise that mobile usage is significant. But what I didn't realize is
how quickly mobile users are giving up desktop online banking. Look at
Chase and BofA, which have had mobile the longest. Only 1/3 of their
mobile users went to the desktop during February. Partly, that's because
many are single-service credit card customers. But it's strong evidence
for what many have hypothesized: once users become accustomed to mobile
convenience, they have much less need for desktop access.
Why bother going to the desktop when it's all on your phone, point "A".
Point "B" - how much will mobile wallets increase this effect? If you're spending money using your phone, managing money using your phone, and updating your balances using your phone, why bother with the computer...well, ever again, really?
But what really impressed me was the followup email I received shortly after completing the call (see below). It outlined what had transpired and provided several useful links to help in the migration from the old phone to the new. In addition, the company wisely encouraged self-service account management with several links below the signature line. Finally, the company inserted the name of the actual rep I'd talked to at the bottom.
We're getting to a point where "service" isn't handshakes and hugs - it's practical, fast, useful information that matters not to "everyone", but to one consumer in particular, every day, dozens and hundreds of times.
USAA will be among the first banks in the world to start toying with speech recognition software on mobile devices.
Members of USAA will soon be able to ask their iPhone what their current balance is, how much they spent last week and when their next loan payment is due — all through voice commands.
The voice recognition service, dubbed Nina, will be embedded into USAA’s iOS and Android application. To activate it, all a member needs to do is press the speech button in the USAA app and say “my voice is my password.” Then they can use natural language to make a wide range of banking inquiries.
Gotta hand it to USAA - they know their audience, they get it right, and they never sit still.
Jeff Russell from TMG Financial Services gave a great talk at the Water Cooler Symposium about the future of payments. Where are the technologies that have everyone talking, like NFC and PFM, and where are those technologies going? What is the threat level from outside players, like Google and Apple? Jeff has some sharp insight, and you can watch it in the video below or over on the CU Water Cooler website.