IDC analyst Marc DeCastro recently asked readers, “Historically, what technological advancement in financial services do you feel is the industry’s biggest breakthrough?” The result: online banking and bill payment.
Here is the survey breakdown:
• 32 percent, Online Banking and Bill Payment
• 20 percent, ATM
• 20 percent, Debit Card
• 16 percent, Credit Card
• 10 percent, Mobile Banking
DeCastro’s poll also found that the older demographic was, the more they felt ATM’s were the biggest breakthrough, but the 25 – 34 age bracket chose mobile banking. This demographic breakdown demonstrates the ever-increasing challenge that financial institutions face to reach a broad range of customer preferences. Catering to customers’ needs is crucial during this era of rapidly-changing technology. To view the full survey results visit IDC.
What is your institution doing to reach different customer demographics? Leave us a comment below.