Mobile Banking Satisfaction Drops as Digital Expectations Rise

From The Financial Brand –

“As fewer consumers enter branches, the impact of mobile banking on overall customer satisfaction is increasing. Unfortunately, the banking industry is not keeping pace with expectations.”

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UK Banks told to stop using so much jargon

From Fresh Business Thinking –

“The UK's banks and other financial services businesses have been told to use less jargon by the City regulator.

The Financial Conduct Authority (FCA) has warned the financial services industry that it uses too much small print, which is full of jargon and overly complicated language.

The regulator wants banks and other financial businesses to write small print in a more informative and easier-to-read way, to help customers understand what they are reading.

It said companies would receive fewer complaints and have higher customers satisfaction rates if their small print was written in a more creative way.”

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Multi-channel banking strategies are failing to convince - TowerGroup

From Finextra

“Banks that invest in ensuring a consistent customer experience across all channels may be wasting their money, according to an analysis by TowerGroup.

The achievement of an integrated multi-channel approach to customer engagement strategies has been something of a holy grail in bank and vendor circles over the past decade.

However, TowerGroup suggests that the effort might be misdirected, achieving only high maintenance costs, convoluted management, and little increase in customer satisfaction. “

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The real value of social signals to a company

From Deloitte CIO Journal

Listening services are almost old news. Not that social signals aren't useful; they certainly are. But, the real value of social signals to a company depends upon its ability to gain, and act on insights ahead of the competition. Those companies that figure out how to integrate social signals into the decision-making processes across the enterprise first will be well ahead of the competition in removing unknowns and moving the needle on business performance.

How Risky Is Mobile Banking? Depends on Customer Behavior

“Smartphone technology, thanks to consumer demand, is poised to become the most significant technology disrupter since the Internet and will forever change how banks serve their customers.

Smartphones appeal to bank executives because of their labor-saving potential and because they provide another point of competitive distinction as banks race to create innovative handheld applications.
Given the recent cyberattacks on U.S. banks however, one might ask "how safe is smartphone banking?" 

The answer to that question – indeed to the overall profitability of smartphone banking itself – lies with the customers.”

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