Mobile banking has quickly taken on a key role in the growth strategies of leading credit unions. 

The rollout of basic mobile services such as balance inquiries, balance transfers, bill pay, and ATM and branch location capabilities, has been well-received by members. As a result of this initial success, many institutions are evaluating the benefits of expanding mobile banking to include a full complement of transactional and interactive services. 

In addition to meeting member demand, credit unions have the potential to reduce member service costs and generate revenue by adding next-generation mobile banking capabilities. These capabilities include: person-to-person payments, remote deposit capture of checks, personalized offers from the credit unions and merchants based on member spending behavior, actionable alerts via text messages or push notifications, and contactless payments at the point of sale.