In the face of turbulent economic conditions and significant cost pressures, U.S. financial institutions, like their counterparts around the world, are focusing on improving the profitability of their customer relationships, lowering channel costs and enabling more self-service electronic banking.

In recent years, the rise of mobile banking has opened a new path for financial institutions to lower the cost to serve their customers, improve their competitive position and increase customer acquisition and loyalty. At the same time, mobile banking establishes a foundation for delivering future products and services that can be monetized, such as mobile payments and remittances. Despite this new ROI opportunity, most institutions have primarily utilized this new channel to drive mobile banking adoption among current online banking customers. Therein lies the opportunity.

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