In recent years, the proliferation of smart phones, tablets and Web-enabled mobile devices has spurred nearly every financial institution to scramble and put together a mobile banking option for their consumers. But it’s not just the growth of these technologies that is driving demand, it’s the users themselves.

I’ve compiled a list of the top five missed opportunities that are costing financial institutions growth and profit.

1. A mobile strategy is not just an app

A good mobile strategy includes all the services consumers want and need not just transactional banking. The strategy needs to consider how the app can be used to boost revenue, provide best-in-class customer service, as well as attract new consumers while maintaining and engaging existing users.

 

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