Not long ago, Forrester published a report that listed “Eleven Mobile Features That More Banks Should Offer.” These features are nifty and valuable mobile services that a majority of banks worldwide don’t offer. As a follow-up to this research, we thought that we’d share three additional mobile banking features that we see more companies rolling outin the near future:
Cardless ATM transactions. Over the next five years, Forrester predicts a sharp rise in cross-channel banking interactions - in which a customer or prospect moves from one touchpoint to another to complete an objective. Mobile will act as the so-called “connective tissue” in many of these cross-channel journeys. For example, some banks* now support mobile-to-ATM cardless cash withdrawals. In general, the bank’s mobile app generates a code that customers can either use to enable ATM usage or send to others who can then withdraw cash directly from an ATM. Leading banks are enabling cardless ATM transactions in an effort to expand their mobile services. Wells Fargo, for example, already has a good mobile app — and the company is now being proactive by rolling out cardless ATM access and other next-generation features. There are many scenarios and mobile moments where cardless ATM transactions will prove their worth in convenience and value to customers.