According to the whitepaper titled “Next Generation Mobile Banking: Transactions Increase Potential Return on Investment”, as consumer interest in mobile banking and payments continues to increase, financial institutions have implemented basic mobile banking and payments services such as the ability to check account balances, locate ATMs and make bill payments. Many financial institutions have recognized a positive ROI from these foundational services and would like to project the potential value of adding additional transactional capabilities such as person-to-person payments or remote deposit capture. The ability to project ROI is essential to building the business case for new mobile banking investments.
Furthermore, the white paper outlines how financial institutions can project return on mobile banking investment by focusing on four value propositions: increased customer retention, reduced channel costs, transaction generation and extended customer base.
Finally, the paper summarizes two ways for financial institutions to maximize ROI by providing more transactional mobile banking functionalities. First of all, banks can offer greater mobile adoption by adding new features which increase adoption because customers find the service more useful and enhanced functionality allows customers to shift interactions away from higher cost banking channels. Second of all, banks can generate new revenue streams through next generation mobile banking services including person-to-person (P2P) payments, remote deposit capture (RDC), merchant-funded offers and other cross-selling opportunities.
In recent news, Fiserv has been selected by provider of cash counting, handling and logistics Geldservice Nederland (GSN) for its cash and logistics technology platform.
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