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The number of “mobile only” bank customers is on the rise

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The number of “mobile only” bank customers is on the rise - TEAM International

Polish banks are recognized as the most digitalized in Europe. They were some of the first in Europe to invest in mobilizing their financial services; offering state-of-the-art solutions that have been attractive from both a user experience and usability point of view.

The quality of the mobile software that is used to perform daily financial transactions is undoubtedly the reason for the constant growth of popularity in the mobile banking channel. It comes as no surprise that the number of mobile banking users is rising. However, the most intriguing part is that the number of users that bank only on mobile is also on the rise. More and more bank customers are moving away from logging in to the traditional online services, instead preferring to use the mobile channel. Most of the existing mobile banking solutions in Poland can successfully replace online banking, with the latest versions covering most functionalities that we need on a daily basis to manage our finances. Most mobile banking solutions also allow for a fast and secure log in process, thanks to various biometric methods, which are adopted easily by users.

It’s a common strategy today, for many banks in Poland, to migrate their users to the mobile channel only. Research gathered from the leading Polish banks in 2017, displays a dynamic growth in “mobile only” users and shows that the investment and mobile oriented strategy is paying off.

The growing number of active users in the mobile channel keeps banks investing more and prioritizes their strategy accordingly. Mobile banking applications are becoming not only the means to perform daily transfers or to check the account balance, but also the means to provide value added services that strengthens the banks’ relationship with the customers. In Poland, regulations allow the banks’ customers to open an account, contact the banks’ consultants via a video/audio call, or apply for a loan. There are even some banks in Poland that do not require your physical presence in the bank’s branch in order to grant a loan. The popularity of mobile services is a great opportunity for banks to search for an additional stream of revenue. Some banks started offering mobile commerce services under the umbrella of their existing mobile banking solutions. The range of services includes buying transportation tickets, paying for a taxi, or ordering takeaway food. It is no surprise that branches now suffer from a lack of customers and end up closing.

We invite you to contact us for more information on how we can help you win with mobile solutions.

Monika Radomska
TEAM International
Poland

TEAM International

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