Report
372
Number
Sep 08 2015

Mobile Banking: Trends in Technology, Innovation, and Equity

Mobile is a disruptive force that is changing the world of financial services. Credit unions need to look to mobile as a way to address problems from the small to the seemingly unsolvable.

Report Number 372

Executive Summary

No credit union can afford to ignore the mobile channel: Consumers across demographic categories expect and demand it, especially those in the ever critical millennial segment. But doing mobile well isn’t just about retain-ing members, fending off a growing array of financial services competitors, and creating a healthier bottom line; it’s also about leveraging a powerful tool that can improve human well- being.

Today, people across a broad spectrum of industries and research areas are looking to mobile as a way to address problems from the small (where are my friends hanging out on Friday night?) to the seemingly unsolvable (how can we help lift people out of poverty?). Credit unions need to be part of that discussion.

To facilitate that, the Filene Research Institute headed to the heart of all things mobile: Silicon Valley. With partners at Stanford University, we brought together experts from academia, design, technology start-ups, and credit unions to learn more about both the nitty-gritty of mobile and its potential to be a transformative force.