Be a mobile banking superhero.

August 21, 2014 by Guest Contributor

By: Mike Horrocks

Last week I had a friend of mine (who would be a self-declared geek) go to GenCon in Indianapolis.  For those that don’t know anything about GenCon, it is one of the largest gaming conventions in the world and it is the only time that you can expect to see everyday folks dressed up as superheroes or gaming icons walking the streets.  I noticed however as he was sharing his photos that among the hundreds of Batmen, Supermen, and Wonder Women there were not many sidekicks.    Now imagine what would Batman be like without Alfred, his trusty butler, friend, and guy who keeps the Bat-mobile running?  So hold that thought and now think about your customers.  They are your superhero.  They help you hit your goals…but are you more than just a bank to them?

So as part 2 of our follow up on the American Banker webinar, “What’s next for mobile banking”, I want to talk about some of the key points that Dominic Venturo, the chief innovation officer for US Bank covered, specifically about the role your financial institution can have in the life of your bank customers.

Your customers are consumers.  In the normal process of all things consumer they are constantly:

  1. Becoming aware of products  in the market place
  2. Searching and evaluating offers
  3. Deciding and purchasing
  4. Experiencing moments that will create loyalty (or not)
  5. Triggering or receiving offers to start the process again

So ask yourself, are you more than just a banker?  Have you helped your customers in the process of picking the best value for them up to the point of spending that savings or needing credit?  Or once the transaction is complete, have you been able to create a memorable experience or help that kind of transaction happen again?   US Bank is doing a great job, as Dominic showed with its Peri app in being a part of that process and extending the role of the bank with the consumer.

Just like Alfred was always tinkering or helping with the next Bat-gadget, great bankers will be working with, adapting to, and creating the next mobile experience.  There are great organizations out there already that are helping remove the friction of the mobile space in actions like account acquisition, with Mitek and their driver license scanning to account opening apps.   Is there an opportunity for you to add that function (or maybe something else) to the utility belt for your bank?

So again consider what your role is for your customers.  Can you be more than a banker to them?  Where can you help them in the consumer process to add more value to their life?  What kind of sidekick are you to your customer/your superhero?  Or maybe even more important, does your customer feel like you are their superhero??

Next week we wrap up the mobile webinar series…until then.