Apps Boost Auto & Biz Lending
From shopping for a car to offering small businesses the capability to accept payments on the go, credit unions and CUSOs continue to try and stay a step ahead in the mobile sector to keep up with members who value around-the-clock convenience.
From all indications, smartphone usage won’t slow down any time soon. In 2008, there were 7.4 million mobile banking users, according to the Forrester Research Mobile Banking Forecast, 2012-2017. That figure has soared to 61.1 million this year. By 2017, it is forecast to be 108.3 million.
America First Credit Union introduced The Dot, a mobile credit card payment device for its business members.
“Interestingly enough, our research determined that boomers, the generation who account for the majority of Autoland sales, are just as digitally oriented toward mobile when it comes to their research and service expectations,” Martin said. “We feel we’ve developed a mobile solution that satisfies those expectations for car buyers of all ages.”