Based on survey results from Intuit Financial Services’ Third Annual Online Financial Management Survey, more than a third of U.S. consumers are now using financial management tools within online banking, a seven percent increase from 2009.
While these online solutions serve as a key resource for consumers, learning how to use them can vary depending on the platform and offering. Consumers want simplicity. In fact, the survey found that 84 percent of respondents believe the most useful and important aspect of the online experience is the ability to see all their finances and information in one place. That fundamental aspect of online banking will remain top-of-mind for consumers as they begin to use these tools across multiple devices and it’s already apparent with mobile banking. Survey respondents want much of the same online banking experience on their mobile devices as on their desktops/laptops.
Consumer behaviors don’t change overnight, but as more take advantage of online solutions, we’re bound to see new behaviors come to light. These developments will dictate how financial service companies can best deliver the right technologies to meet customer needs.
What capabilities will best serve your customers? Can your online solution provide the insights customers need? Which capabilities will move the needle for your financial institution? Leave us a comment below.