A New Report From CU Engage
Speed. Functionality. Convenience.
The features and technologies in mobile banking apps are evolving as consumers become increasingly reliant on apps to complete banking tasks. Members are actively seeking better technology solutions within their banking apps and look for features that help them most in their daily lives. This new report from CU Engage takes the guess work out of which features consumers want to see in their banking apps. These features are important to consider as they can help with institution growth, longevity and member satisfaction.
If your members get all the functionality and convenience out of their banking app that they desire, they will use the app more often and have no reason to consider switching institutions. Did you know that according to Deloitte, 57% of millennials would “change their bank relationship for a better technology solution?” This report uncovers which mobile app features members have prioritized and what features are in demand.
In this report, we review which features consumers are seeking today, and provide statistics that show how important banking apps are to your members, as well as the importance of utilizing the latest tools and technologies and staying relevant in a competitive market. We combed through thousands of credit union, bank, and neobank app reviews to bring you data straight from your members. This report is loaded with valuable information, all consolidated into one downloadable resource.
What you get:
- A list of features that members demand
- Determine your app's relevance
- See what features your app needs to be competitive
- Member & consumer banking app statistics
- App features broken down by member's priority
- Most common obstacles your members face
- Reviews as they relate to mobile updates
- What causes members to switch financial institutions
- Where technology advancement is taking mobile banking apps
- + more
How we break down the features:
- The Basics - the minimum features a financial institution should offer to their customers in an app
- The Should-Haves - the features that most consumers have come to expect from their banking apps
- Stay Competitive - the features that are growing in popularity and desirability.
- Luxury - the features that make consumers feel like VIPs within an app