The Internal Revenue Service (IRS) launched a smart phone app this week that allows tax payers to check the status of their tax refunds and receive helpful tax information via mobile phones. The app, which is called IRS2Go, is the first app created by the IRS and is a high-tech jump for the government agency coined as “Uncle Sam.”
Mark Schwanhausser at Javelin Strategy and Research notes that the IRS jumped into a lucrative mobile market, something bankers should embrace as well.
“The IRS will tout this publicly as “customer” service – and it is. But the reality is this is a smart money-saving move. As we noted in our 2010 Online Banking and Bill Payment Forecast report in October, the financial services industry can save $1.4 billion by steering more online-banking customers to head online or to their mobile devices rather than schlepping to a branch or phoning the call center when they have a customer-service question. The IRS stands to save handsomely if it can shift a few million refund queries to mobile devices.”
Does your FI offer a mobile app to customers? Leave us a comment below.