{"id":1162,"date":"2017-02-08T09:00:42","date_gmt":"2017-02-08T09:00:42","guid":{"rendered":"https:\/\/www.mobicint.com\/?p=1162"},"modified":"2017-02-06T21:18:50","modified_gmt":"2017-02-06T21:18:50","slug":"your-members-arent-downloading-your-mobile-app","status":"publish","type":"post","link":"https:\/\/www.mobicint.com\/your-members-arent-downloading-your-mobile-app\/","title":{"rendered":"Your Members Aren’t Downloading Your Mobile App and This is Why"},"content":{"rendered":"

Location and ATM availability is still perceived as the primary driver for potential members selecting or switching financial institutions. However, mobile and online banking offerings are increasingly more important, especially among millennials. For financial institutions\u00a0who have prioritized improving their mobile banking app, only to be left scratching their heads when download numbers and usage data don’t reflect expectations, here are some key reasons why there may be member hesitation to adopt the technology:<\/span><\/p>\n

1. \u00a0Security Concerns:<\/strong>\u00a0Mobile banking\u00a0security has been consistently identified as the top barrier to adoption. General security concerns will keep a percentage of your members\u00a0from moving to new technologies, and specific concerns such as rogue apps that have the potential to steal mobile banking login credentials will certainly deter some members from embracing your mobile app.\u00a0\u00a0It is up to financial institutions to sell their cybersecurity as a strength, because in reality, banking via a mobile app is as safe as walking into the branch\u00a0and interacting directly with a teller, and it is actually much more secure than banking through a browser on a personal computer. Why? Because\u00a0mobile banking providers\u00a0can control the security through the\u00a0app much easier than through a browser.1<\/sup><\/span><\/p>\n

2. \u00a0Visibility:<\/strong> Especially with aging populations, using a smartphone’s small screen may prohibit some members from downloading mobile apps.\u00a0The difficulty of seeing and typing on smartphone screens can pose limitations in using mobile devices for financial services. Educating these members on using your credit union mobile app on tablets, with a larger screen, may alleviate this concern.2<\/sub><\/sup><\/span><\/p>\n

3. \u00a0Usability:<\/strong> How easy is it to effectively use your mobile app? \u00a0Are there too many steps for what should be a simple transaction? \u00a0Are users able to access all the necessary data they need to make meaningful transactions? Often, the services available on mobile apps are too basic, and they simply augment what can be done on internet banking. Remote Deposit is a feature that enables mobile apps to stand out over desktop\u00a0banking and can be touted as a reason for members to begin the download.<\/span><\/p>\n

4. \u00a0Fees and Data Usage:<\/strong> Most FIs do not charge fees as a mobile banking provider, however, some still do and this additional charge can be a deterrent. \u00a0But even for FIs that don’t charge a fee, cell phone companies still charge for data. And there are budget-conscious people who monitor their data usage very closely, which can be a reason that people avoid mobile banking.<\/span><\/p>\n

5. \u00a0They simply don’t need it:<\/strong> A 2015 survey found that 87.9 percent of U.S. adults did not use mobile banking because they felt their banking needs were being met without it.3<\/sup><\/span><\/p>\n

1.\u00a0http:\/\/www.banktech.com\/channels\/dont-be-afraid-of-mobile-banking-apps\/a\/d-id\/1295727?<\/a><\/span>
\n2.\u00a0http:\/\/www.moneyunder30.com\/consumers-wary-of-mobile-banking
\n<\/a>3.\u00a0http:\/\/www.statista.com\/statistics\/244250\/reasons-why-us-users-didnt-use-mobile-banking-services\/<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Location and ATM availability is still perceived as the primary driver for potential members selecting or switching financial institutions. However, mobile and online banking offerings are increasingly more important, especially among millennials. For financial institutions\u00a0who have prioritized improving their mobile banking app, only to be left scratching their heads when download numbers and usage data…<\/p>\n","protected":false},"author":3,"featured_media":1168,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17],"tags":[],"yoast_head":"\nYour Members Aren't Downloading Your Mobile App and This is Why - Mobicint<\/title>\n<meta name=\"description\" content=\"Not seeing the mobile app download numbers you're expecting, here are a few reasons why your members aren't downloading your banking app.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.mobicint.com\/your-members-arent-downloading-your-mobile-app\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Your Members Aren't Downloading Your Mobile App and This is Why - 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