The rise of smartphones hasfundamentally changed the way consumers and businesses interact,and the banking industry is no exception. In a few short years,we've witnessed the rise of mobile banking apps. And if recentyears are any indication, mobile's prevalence will only continue togrow.

The rise is justified: mobile is the key to reaching, engagingand maintaining the coveted Millennial market. America's biggestgeneration – approximately 68 million people ages 18 to 34 – hasalso proven to be one of the most difficult to reach. Millennialstend to be skeptical of big business. They expect companies toengage in a dialogue. They consume information via digitalchannels. And they sleep with their mobile devices next to theirbeds.

However, a recent survey conducted by the FINRA FinancialInvestor Education Foundation found that more than half ofMillennials believe little to nothing sets their bank apart. Whilethese numbers may scare some credit unions, others will see this asan opportunity.