This Week’s Reads: Branches, BlackBerry, Digital Banking

Below are interesting stories the Banking.com staff has been reading over the past week.

Articles via Banking Exchange, Mobile Payments Today, American Banker and Banking Exchange

  • Customers like branches –but don’t depend on them: While branches remain critical for acquiring and retaining consumers, a recent Novantus survey shows that while consumers regularly interact with their financial institutions via digital channels, they still believe the branch is important in selecting their bank.
  • How Apple killed the digital wallet: With the release of Apple Pay, the physical wallet still survives, but in the form of a mobile phone. The idea of a digital wallet, such as that imagined by PayPal and eBay, is dead, but does this means banks should rethink their digital wallet strategy?
  • What would it take for banks to dust off their Blackberry apps?: With less than 2% of U.S. adults saying they use a BlackBerry as their primary smartphone, it is hard for banks to justify investment in creating and maintaining apps for these devices.
  • What really is “digital banking”?: Digital banking is widely used in the financial services industry, but experts struggle to define what it really means. It is often confused with mobile and online banking, or even omnichannel banking. While all of these involve digital applications, they don’t quite constitute digital banking.
  • The chicken or the egg? Loyalty will drive mobile payments: In the age old question, the chicken or the egg, people wonder which came first, the chicken or the egg. The same logic question can be applied to loyalty and mobile payments. If customers are loyal to your financial institution, they may be more likely to try mobile payments, but perhaps mobile payments make customers and members loyal.

What have you been reading? Let us know in the comments section below or Tweet @bankingdotcom.

Written by Banking.com Staff