The world of banking is changing as more and more customers are turning to convenient self-service options—like ATMs, customer-care phone support, online banking and mobile banking—that let them manage a variety of banking needs when and where they want.
The data in the mobile sector alone is telling. According to Pew Research Center’s Internet & American Life Project, 56 percent of adult Americans now own a smart phone. Not surprisingly, Pew’s study says young adults are the highest adopters; but it also says that seniors 65 and older are also increasingly choosing smart phones over older-style feature phones. In fact, the study reports that 18 percent of seniors and older own a smart phone; that’s 5 percent more than one year ago.
At Rabobank, adoption of mobile banking with smart phones has been substantial since the rollout of our mobile app in March. Many customers have discovered the convenience of handing many of their core banking needs, including depositing checks through their phone—from any location and at any time of the day.
Industry-wide, a growing number of customers are increasingly making deposits, obtaining cash, transferring funds and checking account balances through a variety of alternative service-delivery channels, including ATMs and mobile.
Does this mean that branches and traditional bank services are going away. No. It simply means that branches that have long been home to a transaction-based environment are slowly becoming more interactive or consultative in nature—making people feel warm and invited, opposed to just coming in and being a number. It also frees up banks to dedicate more resources and establish even stronger ties as a community meeting place.
Believe it or not, the likes of mobile banking can enable banks to do more with their branches and strengthen their vital roles in the communities they serve. Rabobank’s 119 branches in communities across the state are committed to seeing just that.
Michael Drapeau is Rabobank, N.A. Financial Services Officer in Murrieta. Rabobank, N.A. has nearly 120 retail branches in California, including Murrieta. Rabobank, N.A. is an Equal Housing Lender. www.rabobankamerica.com