Today, again we are going to talk about the millennials and mobile banking, inspired from a research by John Heggestuen, Managing Research Analyst at BI intelligence, the research service of Business Insider magazine.
This research, with an indicative tile, “The Digital Disruption of Retail Banking” has tested 1500 millennials (18-34 years old) and their “banking” behavior:
Here are some of the conclusions of the Report:
- The banks that don’t react quickly, will lose the relationship with their clients. The consumers are preferring the digital banking services increasingly and this is reducing the physical relationship between bank and the final user.
- Bank branches will become obsolete. This will take a bit of time, but the improvement of on-line channels, the decline of the visits to the bank branches and the higher cost of in branch transaction will lead to this result.
- ATM too will have the same fate, since the cash payment will disappear slowly.
- Smartphone will become the relationship channel with the banks. Anytime, anywhere. Only the financial institutions on this channel will be successful in the future.
Ubiquity has come a long “future-proof” way by developing platforms, products and services adapted to the scenarios described above.
Service alert is not the only product of “via Teodosio” company, but we provide a digital ecosystem suited to handle the needs of tomorrow’s consumers.