Integrating Mobile Banking into Your Retail Delivery Strategy: What do Members Really Want?

Many credit unions are taking a renewed look at this potentially new channel for member transactions and information. About one-fourth of the credit unions in Callahan's 2007 Credit Union Technology Survey are planning to invest in mobile banking offerings within the next two years. But despite the hype, questions remain about consumer adoption.

• Who is likely to use mobile account access?
• Will it enable us to attract new member segments?
• Do current mobile access methods provide sufficient security?
• What technological and perceptual barriers exist?

Based on member feedback from more than 10,000 online credit union members in 2007, this Callahan research report provides insight into member perceptions on Mobile Banking. Using both financial institution case studies and member data from Callahan's Internet Strategy Consortium, the report provides concrete ideas for developing and marketing a mobile banking offering. This research investigates the barriers to mobile access and provides considerations for technology selection. The report discusses member perceptions regarding concerns and benefits that can be leveraged in future marketing.