A new survey from VSoft Corporation found that nine out of 10 (89%) Americans expect a bank or credit union to offer some kind of digital banking service. Conducted on behalf of VSoft by Harris Poll, the survey ran online from Oct. 29 – Nov. 2, 2015, and garnered responses from more than 2,000 U.S. adults ages 18 and older.
The survey also found that 58 percent of Americans agree that the latest digital banking services are a top priority when choosing a financial institution. In fact, nearly half of Americans (48 percent) say they use more than one device – such as a mobile phone, tablet, or laptop/desktop – when banking digitally.
A recent report from Mercator Advisory Group, The State of Digital Banking in 2015, supports this trend, reviewing how digital banking is transforming into a full-featured suite of solutions across various deployment options, including computers, smartphones and tablets.
Ed O’Brien, director of Mercator Advisory Group’s Banking Channels Advisory Service and author of the report, said in a recent press release, “Households are using a wide variety of devices when banking, from computers to smartphones to phablets and tablets, depending on preference and the types of transaction or interaction desired.”
In response to these findings, financial institutions must invest in modern digital banking offerings that provide consistent user experiences across any device. Contrary to traditional multi-channel banking, a modern, consolidated platform streamlines multiple banking channels under a single access point. Customers can easily conduct transactional and non-transactional tasks using the device of their choice, but enjoy a consistent, intuitive interface that ensures a positive experience while delivering the convenience consumers expect.
“The evolving demographic coupled with the rapid growth of digital devices has resulted in a meaningful shift in consumer expectations,” said Murthy Veeraghanta, chairman and CEO of VSoft Corporation. “Not only is digital banking expected by consumers, but multi-device banking has become the new normal. To remain relevant, banks and credit unions must invest in a digital banking platform that is device agnostic and features a responsive design.”