Financial Services Mobile Apps Help Both Businesses and Their Customers
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How could financial services mobile applications help businesses and their costumers? Let's have a look at easy-to-implement ways that help businesses amplify their mobile performance and facilitate their customers’ life.
Transcript of Financial Services Mobile Apps Help Both Businesses and Their Customers
©2013 by EliNext Group
Financial Services Mobile Apps HelpBoth Businesses and TheirCustomers
Pervasive computing encourages today's financial services
companies to run their business virtually and attain their
"digital" customers in an ongoing way anytime and anywhere.
Without doubt, a genuine competitive financial institution
should strive to provide mobility solutions for their customers.
Using wireless Internet access and mobile collaboration,
pathfinders of finance industry boost their clients' loyalty and
satisfaction, enlarge customer base attracting new clients and
enhance their revenue.
©2013 by EliNext Group
Tomorrow’s leading financial institutions will become those that
are able to go with the innovative stream of the modern tech-
savvy world. According to the results of the research
"Consumers and mobile financial services", prepared by the
Federal Reserve Board’s Division of Consumer and Community
Affairs (DCCA), the ubiquity of mobile phones is changing the
way consumers access financial services:
•21% of mobile phone owners have used mobile banking in
the past 12 months;
•11% of those not currently using mobile banking are
supposed to use it within the next 12 months;
•90% of mobile banking users check account balances or
recent transactions;
•42% of mobile banking users transfer money between
accounts.
It is obvious that portable devices have become part and parcel
of modern life for most people in the 21st century. Fast-paced
technological development of mobile services illustrates the
imminence that changes the way consumers accomplish
financial transactions. That's why present-day software
development companies are ready to provide financial service
businesses as well as their customers with a great variety of
mobile and software solutions to facilitate their capacity for
©2013 by EliNext Group
adjustments and competition. Here are easy-to-implement five
ways for boosting mobile performance:
1. Consumer and Enterprise Application Development: software
development companies that specialize in mobile app
development are eager to offer a comprehensive range of
multi-platform solutions and enterprise application services for
your business. Applications built for Enterprise Resource
Planning (ERP), Supply Chain Management (SCM), and
Customer Relationship Management (CRM) are conductive to
the improvement of operational efficiency.
2. Mobile Commerce: the diffusion of mobile applications that
are becoming accessible from Internet-enabled smartphones
for buying and selling goods or services facilitates the
purchasing process. In order to capture market share and
improve their business performance, a great majority of
contemporary enterprises are mapping their initiatives to
mobile solutions.
3. Mobile Banking: thanks to the proliferation of mobile
technologies, modern consumers expect to get available
financial services at their fingertips. With the help of mobile
banking applications a company will be able to provide access
to debit/credit or charge card details, account balance and
©2013 by EliNext Group
monthly budget.
4. Mobile Payments: today's consumers can use their portable
devices for a wide range of mobile payments as an alternative
to cash, checks, or credit cards. NFC (near field
communication) and mobile money solutions are viable tools
for customers to pay for goods and services on their mobile
devices. At the same time, mobile payment services help
businesses enhance profitability maximizing revenue and
deliver excellent customer experience.
5. Mobile Remittance: innovative distribution channel for mobile
money transfers brings new clients, income streams, increasing
overall ARPU and reducing operational costs of your business.
Having implemented mobile remittance solutions, senders and
receivers are connected to a single platform and free to
conduct any finance transactions and wire transfers.
It won't take long before mobile services become a standard
necessity of our daily life. Mobile solutions and financial
services mobile apps are the driving force for businesses that
want to take the leading part in their market segment. It can
be named an extension and branding tool for any business that
allows to maintain direct one-click relationship with a customer
base. At the same time, mobile users gain advantage of tech
©2013 by EliNext Group
revolution and modify their portable devices into micro banks
with the help of financial services mobile apps.
Industries and Technology Areas:
Industries: financial services, banking, retail, e-commerce, m-
commerce
Technology Areas: mobile application development, software
development, m-commerce, iOS, iPhone, iPad, Android,
BlackBerry, Windows Phone
©2013 by EliNext Group
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©2013 by EliNext Group
Suggested citation: EliNext Group.2013. “Financial Services MobileApps Help Both Businesses and Their Customers”
<http://www.elinext.com/financial-services-mobile-apps-help-businesses-customers >
