First Mover A R.I. Bank Offers Mobile Business Banking

By Vira, Prabhat | ABA Bank Marketing, May 2011 | Go to article overview

First Mover A R.I. Bank Offers Mobile Business Banking


Vira, Prabhat, ABA Bank Marketing


BUSINESS BANKING IS GOING MOBILE. While banks have long been offering services via a hand-held device to retail customers, the ease and convenience of mobile banking have not been widely available to businesses. Recently, though, there has been an accelerating surge of mobile banking capabilities developed specifically for businesses, driven by greatly improved technology, robust security and--most of all--increasing market demand.

Market demand in conjunction with recent technology and security improvements recently prompted Citizens Bank, Providence, R.I., to become the first financial institution within its 12-state footprint to introduce commercial mobile banking. Here's how the bank went about early adoption.

[ILLUSTRATION OMITTED]

Our institution, Citizens Bank (assets: $159 billion), Providence, R.I., recently spoke with more than 1,000 corporate customers--large and small--to ask what banking services they would find most helpful for them in the current challenging economic climate. Overwhelmingly, they told us they want easy-to-use, secure, flexible, intuitive and attractive mobile banking.

As a result, we developed an app called access-MOBILE. Through the app's interface, customers can approve pending transactions, view account history and transaction details, get current-day snapshots and perform intracompany funds transfers and receive alerts and bank mail, with soon-to-be-added features for commercial cards and foreign exchange--all from their mobile devices and in a secure environment.

The greatest technical challenge we faced was building the right user interface. In our conversations with customers, we learned that--to be as quickly and widely adopted as it has been--our mobile banking capability had to be intuitive and easy to use. Our customers simply wanted to download the application and begin to use it, without having to go through a steep learning curve. Departments across the bank--relationship management, product development, technology, R&D, business development, sales and marketing--worked closely together through several iterations of design to ensure we got it right.

We integrated the mobile technology into our ash management online application, known as Money Manager GPS. We took the Money Manager GPS functionality, designed to deliver a comprehensive picture of a customer's cash position, along with the necessary tools to manage cash flow effectively, and delivered it through the mobility of the [Phone, iPad and iTouch. This was the basis of our end-to-end mobile banking solution.

[ILLUSTRATION OMITTED]

The promotional campaign

To raise awareness of our new corporate mobile banking capability, we designed and implemented an extensive marketing communications campaign directed to both internal and external audiences.

Specifically, within the bank, we developed a series of newsletters, online communications via our intranet (including links to video demonstrations of the capability), training sessions with relationship bankers and town hall meetings across our geographic footprint to educate and keep our colleagues informed before and following the launch of the application. Externally, our formal marketing communications outreach plan included a tightly integrated program of advertising, direct mail, online communications, media relations and speaking opportunities before banking and customer groups.

Because we had completed benchmark research prior to the development of the app, we were able to measure of the impact of the various marketing techniques on customer adoption rates of the new technology and adapted the specifics of the communications plan over time to monitor its success.

How we've done: rave reviews

The adoption of accessOBILE by our business customers has been quick (within weeks of the launch, 40 percent of the potential market had downloaded the app) and widespread--across all industry segments. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

First Mover A R.I. Bank Offers Mobile Business Banking
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Author Advanced search

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.