Monitise today announced that Hawaii-based American Savings Bank is experiencing phenomenal user adoption since the launch of its mobile banking and payments solution. As part of Monitise’s Bank Anywhere mobile solution, American Savings Bank is the first Hawaiian bank to deploy mobile remote deposit capture, resulting in mobile deposits skyrocketing by 40 percent in March. In a mere four months since deployment, many of American Savings Bank’s active online banking customers are already using the Bank Anywhere services developed and deployed by Monitise.
“Customer adoption has literally exceeded all expectations, as we achieved our first-year adoption goals within one month and surpassed our two-year adoption goals within two and a half months,” said Rick Robel, Executive Vice President of Operations at American Savings Bank. “Integrating the Monitise platform with our Fiserv-based core, online banking and bill pay systems presented unique challenges, but with the support of all parties, Monitise produced the complete solution on time and within budget.”
American Savings Bank sought a best-of-breed mobile solution that was agnostic to its third-party systems and would allow them to create a mobile channel that was not dependent on other systems. American Savings Bank selected Monitise and launched its complete mobile services – including feature-rich mobile banking and payments functionality across its fully native smartphone applications, mobile web offerings and SMS services – in November 2012. American Savings Bank supported its product launch with a compelling marketing campaign and mobile enrollment has subsequently been tremendous.
“Strong customer adoption is crucial to a successful mobile strategy for all financial institutions,” said Todd Clyde, Executive Vice President and General Manager, Americas at Monitise. “As demonstrated by American Savings Bank, combining a well-executed mobile platform deployment with capabilities such as mobile remote deposit capture, and our adoption services will result in deep mobile customer engagement.”
Mobile research is booming and changing the way we shop: 80% of mobile media users used their devices to aid the purchase process by researching a product or service (up from 58% in 2011, a 22% jump). 69% of these users went on to make a purchase via mobile.
Smart phone growth has completely remolded the way people manage their accounts and finances day-to-day. The release below reveals powerful numbers reflecting the growth of mobile banking over the past several years, forecasts what’s to come as it continues to grow and how Arvest Mobile Banking has become a key product to keep up with customers’ needs.
Stop thinking small. Mobile is in every hand today just about and there is no shinier proof than the recent rollout of mobile banking — to a surprisingly huge membership segment – by Desert Schools Federal Credit Union, the $3 billion, Phoenix-based institution.
DSFCU also reports that early adopters of its mobile banking solution are two times more profitable than traditional banking members, and are averaging 46 interactions a month with the mobile banking application.