On average, how many hours a day do you use your mobile device? 1 hour? 2 hours? Maybe 4+ hours? Perhaps, you’re one of the very few people that don’t use one. Since their induction back in 1992, smart phones have completely changed how humans communicate with each other, proving their full social integration. You can no longer go to a public area or event without seeing an iPhone or Android.
Mobile devices with easy access to the internet, provide information in seconds (search engines, like Google). They allow us to engage publicly with others (social media platforms, like Twitter). Selling and purchasing goods is easier than ever (online markets, like PayPal). There has never been a point in time where humans have had this much information and access at their fingertips. Most of us would, and do, freak out if we are without our precious smart device.
According to an article published by Oberlo.com, there are 6.4 billion smartphone users in the world (https://www.oberlo.com/blog/mobile-usage-statistics). A good majority of these users are regularly sending money to other mobile devices on a daily/weekly/monthly basis. In fact, I pay my portion of the utility bills each month by sending my roommate a mobile funds transfer using the payment application, Venmo. This type of transaction occurs instantly with the swipe of a finger, as opposed to the alternative, which involves driving to my local bank branch to withdraw cash from an ATM (without fees) and delivering the cash to them in person.
Being active and doing commerce on mobile devices gives establishments a leg up on competition that is not. It is important to always be present and accessible to your users, which is now on smart phones. Providing an online application (app) for your establishment allows your customers easier access to their accounts and information. It opens the door to new potential marketing opportunities and can eliminate certain costs from the yearly operating budget.
It is now 2022, technology usage and the digitization of our lives shows no signs of stopping. So, what’s stopping you from exploring the opportunities that mobile banking could bring to you and your customers? Consider exploring how mobile banking can help your customers this year.
About Insite Data Services
IDS data application hosting services combines secure and cost-effective core banking applications, enterprise-class servers and storage, and proven virtualization technology. IDS hosts all of the bank’s servers in secure data centers that use state of the art security systems including identity verification and biometric scanning. Insite Data Services also offers IDS On-Time, a full-service solution dedicated to back-office bank processing. These operations experts allow partnered banks to focus on their most important asset, their customers. For more information visit www.insitedataservices.com.