Mobile phones are more than just phones. They have become indispensable portable computers, helping manage our personal lives, connecting us at all times to the office and bringing us the information we want, when we want it at the speed of light.

Pew Research shows 85% of Americans own mobile phones and they love using them. Among the top 12 things people use their mobile phone for, banking was ranked No. 8. What's more, 44% percent of smartphone users said they do mobile banking.

Many credit unions offer mobile banking that enable members to check balances, transfer funds, pay bills, locate ATMs and receive alerts. However, industry analysts such as Forrester Research and Javelin Strategy and Research have pointed out in recent reports that consumers are looking for more mobile banking transaction features including person-to-person payments, contactless payments at point of sale or mobile wallet and. remote deposit capture. Personal offers from both the credit union or merchant based on members' spending behaviors, and push alerts, which enables members to respond in real-time to customized alerts received from their credit unions, are other features.