Why tablet owners could affect the banking industry

Mobile Banking on Tablets is Increasing

This blog has previously discussed the increasing popularity of online banking, and how more consumers are looking for mobile options that meet their needs. As financial institutions look to adjust their offerings, keeping strong risk management software in place is crucial. No bank wants to inadvertently let sensitive information become accessible simply from giving customers more options to bank online.

According to the 2012 Fiserv Consumer Trends Survey, 48 percent of current tablet owners had used the device to access online banking services. Furthermore, 64 percent of tablet owners responded that they planned on doing so. Tablet ownership also jumped from 19 percent in 2011 to 32 percent in 2012.

A recent Bank Systems and Technology article explained that banking customers expect information to be accurate, up-to-date and consistent across all channels, at all times, regardless of the device that they are using. The right balance must be found between a customized user experience and one that is consistent across all mobile devices.

Additionally, the news source said that platform services must be managed properly. Customer care and enrollment, risk and security and reporting and analytics all must be run in a secure fashion.

“This requires establishing processes and policies for the channel by addressing how to best enroll and support first-time digital bankers with no digital credentials, manage security and privacy within tablet banking and across channels as well as defining what reporting is needed,” the article explained.

Essentially, the tablet channel has to be seamlessly integrated with other digital channels. That way, the user experience can be optimized while also remaining secure. When financial institutions can implement current and comprehensive risk management software, they will be well-prepared for customers and their evolving needs.

Request a Demo

From loan originations and decisioning, to customer management and beyond, GDS Link helps thousands of clients manage risk while driving growth.