I can’t be the only person who thought, “No kidding!”... as I read this story from Research Brief today. It suggests that when customers can contact a human being to help with a banking problem, it is less likely the bank will lose that customer. (Click here to see the story.)
The story also seems to indicate that few customers, as yet, are using mobile devices in their banking transactions. That maybe true for now, but…
Implications: There was also a time, not long ago, that people wanted their music to come in a box or sleeve with some clever artwork on the cover, and a list of songs on the back… even after it was possible to buy songs online. I would not assume that people don’t want to bank via mobile device; I would assume that option is in its early stages… and that greater adoption will happen very quickly. (The prudent action here is not to assume at all... but to talk with your customers to see what they would or would not appreciate.)
By the way, how many banks even offer strong banking options via mobile? Relatively few now, but more every day, and just like ATMs and electronic banking… it’s only a matter of time before saving/spending via smartphone is a common occurrence. Your job, if you're a bank, is to make sure you're just ahead of the tipping point.
It’s interesting to contemplate these two questions: What attributes make your company relevant to your customers today? What attributes will keep you relevant tomorrow?
Mike Anderson
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