2023 Banking Tips: Is mobile banking the wave of the future?
Banks and Credit Unions embraced the mobile banking frenzy over the past few years. So they might be surprised to learn that Generation Z wants their banking app to direct them to the closest surcharge-free ATM!
Although banks and credit unions may feel pressured to remove "traditional" banking channels and allocate their budgets to mobile, they may want to think twice about that strategy. Instead, pause and consider the younger generations' craving for a physical brand presence, ATMs, and instant cash.
Statistics:
75% of financial clients use a downloaded mobile application to access their bank accounts.
Over half (62%) of consumers say they prefer to bank with institutions with a physical presence.
45% of Generation Z prefer to use cash.
33% of Gen Z see cash as a way to control their finances.
Consumers 18-34 visit an ATM to get cash more than seven times per mont
A large portion of banking clients desire to use ATMs/ITMs to perform complex financial services and quickly grab a bit of spending money.
There is so much more to remote banking than digital presence. Account holders expect their financial institution to brand in multiple ways other than just their phones. Customers want choice, convenience, and control.
Reliable ATM/ITM outsourcing partners like NuSource offer a plethora of options to provide precisely what your clients require and help grow your brand loyalty.
Hiway raised more than $109,000 at the 5th Annual Fundraising Event. Congrats! The NuSource Curling Team came in at a respectable 3rd Place.
Hiway established the Hiway Credit Union Foundation to build upon the tradition of being “With You on the Road of Life.” For more than 90 years, Hiway has strengthened our members' financial lives and served its communities through volunteerism and financial support. By forming an independent 501(c)3 non-profit organization, Hiway Credit Union Foundation aims to increase our support through our community's tax-deductible charitable donations and volunteer opportunities.
NuSource is proud to participate in this vital community organization.