How to Use Mobile Banking Notifications to Grow and Retain Account Holders

Posted on

April 4, 2022

by

Carrie Shunia

Mobile has emerged as a significant resource to attract younger customers. It's also a great way to boost revenues. In other words, if you want to compete effectively for your account holders’ attention, mobile banking is a necessity.

Mobile banking services include a wide variety of services for consumers. People can set up and open online payment accounts, apply for online credit or loans, make account-to-account money transfers or simply locate nearby ATMs for cash.

The driver behind this? Smartphones are increasingly being used for financial management. These devices have already shaped our personal and work lives as the primary communications tool. An estimated 85% of U.S. adults own and use a smartphone, and that density of use is helping financial institutions grow their mobile banking services.

Mobile access: A win-win for everyone

With mobile financial management, the key attraction for smartphone mobile customers is 24-7 access. This means real-time access to financial accounts and assorted banking products and services, anywhere and anytime, through a mobile platform. Customers use a mobile bank account app to set up bill payments, manage account transfers, make daily purchases, fill out applications for loans and mortgages, and even buy and sell other financial products online.

That said, banks and credit unions use mobile services as a strategic differentiator. This strategy is apparent in the recent news that a major bank announced a plan to upgrade its mobile app tools and services to reach mobile account users. A huge marketing opportunity exists for FIs to send out timely offers and reminders, account balance alerts, loan discount programs and much more. What’s exciting to financial institutions is that they can reach more people with mobile features and gain new customers by using mobile notifications for mobile bank account holders.

It’s a win-win opportunity: Banks and credit unions touch more customers and members with mobile banking and mobile notifications about their offers and services, and your audience can manage money more efficiently without frequent trips to a local bank or credit union office.

It’s time to use mobile banking messages to keep your account holders and attract more. These automated communications can help you stay ahead of the market and manage your own inclusive strategies that best suit your users.

It’s go time for mobile messages

If your organization is already in the mobile account category but struggles to effectively communicate with your account holders, Larky can help. We empower community financial institutions to proactively reach account holders through their mobile banking app.  With Larky nudge®, customized notification messages go directly to your audience and are tailored to reach them in timely, relevant ways. Contact us today for more details about mobile notifications for mobile bank account holders.

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