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A New Age of Digital Banking
- 1. A New Age of Digital Banking: Trends of 2020
- 2. In a mobile-first world, what strategies will traditional banks and finance institutions need to stay ahead of the game? Stay tuned to find out. Andrew Tenbusch & Oliver Fereday July 22nd, 2020 1PM EST
- 3. • Traditional banks embrace mobile • Bank rankings: What is setting companies apart? • Fintech and banks are partnering up • How digital only banks are changing customer service best practices Topics covered:
- 4. Mobile apps = critical banking channel 46%Of consumers use only digital banking channels. (PWC)
- 5. Of Americans have at least one full- service banking app 55%
- 6. Have at least one peer-to-peer payment app 40%
- 7. Of U.S. smartphone users making a mobile payment in the last 6 months (Compared to 80% in China) 25.6% $ PAY $
- 8. Have a stand-alone investing app 17% Use at least one budgeting app 17%
- 9. Of customers would like to receive advice from their bank through a digital channel… 58% But only 12% report receiving guidance via mobile. Support
- 10. of mobile users say app performance, such as speed and responsiveness, is highly important. (CIO) 90% L o a d i n g …
- 11. Traditional Banking Goes Mobile A New Age of Digital Banking: Trends of 2020
- 12. What has set Capital One apart? 37% of Americans have security concerns when it comes to mobile financial services • FaceID • SureSwipe • Custom pattern draw
- 13. New virtual financial assistant, Erica 54% digitally-centric customers #5 in J.D. Power’s ranking
- 14. #6 in J.D. Power’s ranking Mobile App Features: Mobile check deposit ATM locator Bill pay Branch & ATM Coverage in 30 states
- 15. Traditional banking is seeing shifts • No monthly fees • No overdraft fees • Round up purchases • Mobile first approach
- 16. Customer Experience Means Better Business A New Age of Digital Banking: Trends of 2020
- 17. Digital-only channels that stand out: 5G P2P Virtual Assistants 61% of people say they would prefer person to person payments 42% of Americans use digital voice assistants on their smartphones Speeds up processing time
- 18. Fintech and Banks are Partnering Up A New Age of Digital Banking: Trends of 2020
- 19. Bancorp announced a partnership with SoFi PayPal added instant bank transfers by partnering with JPMorgan Chase Stash partnered with GreenDot to add banking services. Bank of America, Chase, Citi and Wells Fargo – partner with Zelle
- 20. 4 Keys to Successful Partnerships Define Tangible Goals
- 21. 4 Keys to Successful Partnerships Focus on Personalization Define Tangible Goals
- 22. 4 Keys to Successful Partnerships Reframe Differences Define Tangible Goals Focus on Personalization
- 23. 4 Keys to Successful Partnerships Create New Processes Reframe Differences Focus on Personalization Define Tangible Goals
- 24. +
- 25. Questions?
- 26. What can you do to get in front of people making the transition to digital banking?
- 27. 3 Channels for Solid Growth
- 28. It’s Tough To Get Your App On Device +2.8 million apps in the Play Store with more than 3,700 apps added daily $4+ billion in ad spend lost to mobile advertising fraud in 2019 alone Headwinds Across Traditional UA Advertiser quotes: “It’s filled with Fraud” “It’s expensive” “Abandonment costs me so much of my budget” 380 million devices run ad blocking. App install abandonment rate >75%
- 29. Start On Device A new mobile marketing channel that ads to your mix THERE’S ANOTHER WAY.
- 30. COST EFFECTIVE Native Discovery can cost 30 to 50% less per install than traditional UA. Four Key Benefits to Starting on the Device NATIVE DISCOVERY TRADITIONAL UA Still Install apps Don’t Install apps SCALE Native discovery can install 5X more daily installs than you could get via Facebook. REACH EVERYONE 67% of Android users don’t install new apps. Reach them with Native Discovery. 100% Fraud Free Being in the firmware means we provide unmatched end-to-end visibility.
- 31. Thank you for joining us! To learn more about Digital Turbine products please reach out to Andrew Tenbusch or Oliver Fereda y