Customer acquisition: exploiting the full potential

Private or business clients – thanks to mobile banking services, financial services providers now have a large target group of dynamic, fast-moving customers at their disposal. Users of smartphones are keen on mobile services and especially open to new ideas, regardless of their age or household income. For them, mobile connectivity is a quick and convenient way to communicate with the bank and take care of their finances – whether simply checking their balance, paying bills or even administering shares. As they’re constantly aware of transactions, mobile users are also more likely to spot errors and unauthorised payments – and rectify them. This is a welcome benefit, and not just to business clients, who given the challenging economic climate, relish the opportunity to track transactions in this way. For these clients in particular, services like these are indispensable, as businesses are increasingly forced to keep a close eye on capital flows and manage their finances more efficiently.


Customer loyalty and cross-selling

Mobile banking bolsters customer loyalty. Forward-thinking financial services providers confirm that offering mobile services has significantly reduced the propensity of their customers to switch to the competition or terminate their contract. Further, this new channel of communication provides new ways to gauge the success of campaigns and exploit the full potential of cross-selling.


Reduce operating costs and boost value-added

In the medium to long term, mobile customers could become more profitable than traditional customers who typically resort to conventional banking channels. For example, mobile services make it possible to slash process costs, as they reduce the dependence on call centres and the bank’s network of branch offices. Even compared to online banking, mobile banking enhances customer value-added.

Quite understandably, many banks have revisited their initial reservations about mobile banking and reformulated their expectations. This new sales channel is an opportunity to acquire customers, enter into dialogue and gain loyalty. On top of this, it can help reduce operating costs and boost the value-added to services.