A white paper from technology company, Bluepoint Solutions, ‘The Future of Mobile Banking’, has found that community banks are slower than larger banks when it comes to implementing mobile banking.
The paper found that drastic growth has occurred in the mobile channel in the last several years.
It also suggested ways that financial institutions should evolve in the future with keep up with the competition.
"Many consumers consider mobile banking to be as important as ATM access and electronic bill payment, yet a considerable number of financial institutions – particularly community banks and credit unions – still think mobile banking is a luxury, not a necessity," said Andrew Tilbury, the author of the whitepaper.
Tilbury who is also chief marketing officer for Bluepoint Solutions said that financial institutions might lose existing customers and miss out on growth opportunities if they do not understand the importance of the mobile channel.
Click here to download a free copy of the whitepaper.