Don’t miss Cornerstone Managing Director Quintin Sykes’ insightful look by at how financial institutions will increasingly adopt and integrate location based services technologies into how they engage with customers. To-date, “financial institutions haven’t really been playing with location based services (with Citi’s standalone mobile shopping application being a notable exception), other than branch and ATM locator applications built into some of their mobile banking offerings.” However, the proliferation of smart phones, the introduction of increasingly sophisticated location awareness technologies (GPS), savvier marketing by banks and credit unions, the growing ease of mobile payments and, finally, social networking, will all conspire to spawn smart applications in service to better customer service.
Sykes explores five market drivers and what each will contribute to bring about new location based innovations for financial institutions.
Is your financial institution utilizing location services? Let us know in the comments section below.