What We’re Reading: Omnichannel Banking, Bank Branches, Apple

Below are interesting stories the Banking.com staff has been reading over the past week. What have you been reading? Let us know in the comments section below or Tweet @bankingdotcom.

  • UMB Emulates Apple in Push to Encourage Mobile, Online Use

American Banker

UMB Bank is channeling its inner Apple to encourage more of its customers to use online and mobile banking. The Kansas City, Mo., bank has begun designating tech support specialists in its branches whose job is to help customers understand and use digital services like mobile deposits and online bill pay.

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  • Omnichannel Banking: More Than a Buzzword

Bank Marketing Strategy

Banks are in an unequalled position to understand their customers. They already can see product use, transaction patterns and demographic profiles. By leveraging channel usage insight, they can develop an even more detailed customer profile. Understanding not only what the customer looks like, but also how they conduct their banking can allow for improved product offers using their preferred channel.

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  • Regions, Credit Unions and USAA Sit Atop Customer Experience Rankings

Bank Systems & Technology

The banking and credit card issuer industries both saw significant improvements over last year in the Temkin customer experience ratings. Regions and credit unions earned the highest customer experience scores among banks in the 2014 Temkin Experience Ratings, released earlier today. Regions and credit unions tied with scores of 81%, followed closely by USAA and TD with scores of 80%, and USAA also earned the highest score among credit card issuers with 77%. Overall both the banking and credit card issuing industries improved their scores over last year.

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  • BBVA creates digital banking unit

Finextra

Spain’s Banco Bilbao Vizcaya Argentaria has established a digital banking unit in a bid to boost the development of its various technology-led businesses. The new business area is charged with leading the bank’s digital transformation around the world, running its multi-channel strategy and the design of operational and commercial processes.  It will also work on developing new business lines, overseeing internal developments such as the Wizzo app as well as the bank’s startup investments made through its $100 million venture fund and Simple, the US firm it bought for $117 million last month.

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  • It’s Not Easy for Banks to Sell You on New Services

The Street

Banks spend tons of money figuring out how you like to spend and save money, especially when it comes to using credit cards and mobile banking, two huge profit center for financial institutions. The credit card industry will process about $4 trillion in card transactions this year, according to Business Insider, and Albany, N.Y.-based ResearchMoz reports that mobile banking is also flexing its muscles, growing from 480 million U.S. users at the end of 2012 to 1.08 billion by 2016.

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  • One in Three of Americans Hasn’t Been to the Bank in at Least 6 Months

WSJ Blog

More than a third of people in the U.S. haven’t been to the bank in at least a half of a year, according to a new survey.  People with lower incomes and less education visit bank and credit union branches less often, the Bankrate.com survey found. For example, 35% of people with at least some college education visited a bank in the last week, compared with 21% of people with at most a high-school education.

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