Is your mobile banking channel a cost center or a profit center?
If your answer references that your mobile channel is ‘saving you money’ by diverting transactions from more costly channels, then I need to ask you how much you have reduced your CSR team, your teller staff and/or closed your branches as a result of mobile banking use?
You can generate revenue from your mobile channel, however, by building new pricing models that include fees for value-added services. As part of a new monthly series, ‘From Free to Fee’, I will be discussing revenue opportunities from several emerging financial services beginning with today’s post on mobile deposits.
Read more at Bank Marketing Strategy