Your Customers Are More Ready for Mobile Banking Than You Are

That is a bold statement, but – with a few noteworthy exceptions – it’s true. For evidence, just look at the report yesterday in Retail Banker International that 20,000 Bank of Ireland customers signed up in advance for the bank’s new Pay to Mobile service.

People are not just ready for standard mobile banking, they’re ready for an expanded version. They’re ready for you to text them when fraud is suspected, send them automated reminders to pay overdue bills and allow them to do more self-service banking on their phone.

How do we know this? From the results our clients have seen by making mobile devices the center of customer contact strategies. One bank reported a 97% customer satisfaction rate for services provided through FICO Adeptra. Another bank cut fraud losses by 50% through getting to victimized customers faster.

Next week we start our FICO Customer Connect roadshow on 13 February in Madrid, moving through Istanbul, Warsaw and Vienna before finishing in London on 10 April. We’ll be exploring many of the ways mobile technology and decision management technology interact to improve risk management, fraud detection and the customer experience. The results — for banks and their customers — are startling.