Press release – June 1, 2016
By Scott Thomson, IBS Intelligence
OpenMarket has released an infographic that shows the opportunity for financial institutions to engage with consumers via mobile strategies. Javelin research identified two of the most important customer segments demonstrating how Americans will bank, pay, shop, save and invest in the future: Moneyhawks, representing 13% of the population; Emergents, representing 35%.
Research findings include: 14% of consumers might leave their primary bank because of“ unsatisfactory customer service”; 24% had already switched banks because of this; 55% of Moneyhawks and 35% of Emergents prefer to receive SMS alerts for bank activity compared to 27% of the general US population; 35% of Moneyhawks and 30% of Emergents prefer to receive fraud alerts through SMS versus 23% of the US population.
“Mobile not only is transforming the consumer’s transactional relationship, but it also is the key to redefining personal banking for the most profitable and demanding customers such as the Moneyhawks and Emergents,” says Mark Schwanhausser, Director of Omnichannel Financial Services for Javelin. “SMS is a powerful communications tool because it is part of everyday life, is available on every mobile phone, and triggers immediate responses. Just as important, it makes customer engagement a two-way channel that empowers consumers to initiate contact with their financial institutions, and not just react.”