Nearly one in four consumers who used Andera software to open new accounts online accessed theapplications using smartphones and tablets, the technology firmsaid Tuesday.
|“That's a 50% increase compared to a year ago and it reflects abroader trend,” said Charlie Kroll, founder and CEO of theProvidence, R.I., firm that began signing credit unions as users in2004.
|Three percent of its end users were using mobile devices to open accounts and apply for loans in 2010,the company said. A total of about a million account opening andlending applications were processed in 2013, Andera said, in a newreport titled “The Future of Account Opening.”
|“The data proves that Americans want to open accounts usingtheir mobile devices but that doesn't mean that they're succeeding.It's critical that institutions streamline data entry requirementsand leverage native mobile features like cameras and touchscreensto make things easy,” said Ying Chen, Andera's senior vicepresident of product management.
|Andera said it has more than 500 clients, 40% of them creditunions.
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