Shaping the future of digital banking – why the right tech matters for today’s financial institutions

Find out how having the right technology has helped one community bank help meet the challenges of tomorrrow's finance sector

In today’s ultra-competitive environment, it’s important for financial institutions to have a clear and comprehensive digital banking strategy. With a growing number of people choosing to do most, if not all their banking online or via mobile, it’s incumbent upon these organizations to ensure they’re offering a high level of customer experiences across these channels.

The need for a partner for the future

However, this is often easier said than done. As digital continues to evolve as an increasingly integral part of the banking sector, it may be challenging for many financial institutions, especially small and mid-size banks and credit unions, to achieve the results they need on their own. Therefore, partnering with expert technology partners will undoubtedly play a key role in shaping the future of the digital banking ecosystem.

Financial institutions should work with technology partners that not only deliver powerful, easy-to-use solutions for today’s needs, but whose strategy continuously looks towards the future. The strongest technology partners are always developing new, innovative experiences that benefit end users and ensure the institution will be at the industry forefront for years to come.

Identifying the best online and mobile banking solutions

To deliver a successful and well-integrated Digital Banking experience, it’s important for the solution to offer end-users the information services they need whenever and wherever they are, in as convenient a way as possible.

For example, with more people adopting mobile apps, banks and credit unions are taking full advantage of the fact that nearly all of today’s smartphones have fingerprint sensors built-in to reduce friction at the login process, using some form of Touch ID tech for ID verification.

In today’s digitally-focused environment, the mobile experience is something that matters over and above any other consideration for many consumers. Therefore, it’s important for Digital Banking partners to accommodate these needs with a wide range of transactional apps, including money savings and mortgage repayments. Apps like Skip-a-Pay are a good example of this, where people can keep control of their entire finances via online and mobile banking.

However, it’s not enough to simply offer these solutions to customers and step away. The experience should be simple and reliable, ultimately deepening the customer’s overall relationship with the institution. That’s where the Digital Banking solutions partner comes in, offering solutions that not only deliver a fluid and reliable customer experience, but also help drive greater platform adoption and engagement.

Delivering visible results

One financial institution that has already experienced strong results from its efforts to reshape digital and mobile banking for the future is Pioneer Federal Credit Union. The Idaho-based credit union chose NCR’s Digital Insight solutions to transform their customer banking experience, including online and mobile banking.

The results have been nothing short of impressive. For instance, in their first full year of implementation the company has seen 30 percent growth in adoption of its mobile app and 45 percent growth of their remote deposit capture feature.

The credit union’s mobile offering is also now the top-rated mobile banking app in Idaho, which is a direct result of how investing in the right tech can play a key role in developing a digital banking experience of the future.

Pioneer’s results showcase the importance of a proactive approach to digital banking and how having the right partner helps financial institutions create innovative solutions that encompass all channels and provide customers with the functionality and ease-of-use they expect in today’s environment.


Written by Russell Tarver

Russell Tarver

Russ Tarver is a Senior Marketing Manager of NCR’s Digital Insight™ solutions. For over six years, he’s developed marketing strategies and thought-leadership for NCR’s digital and omni-channel banking solutions. In addition to his time at NCR, Russ has held management roles with financial institutions and technology service providers, leading various marketing programs and operations.