When you think of managing your finances, what’s the first thing that comes to mind? Do you envision walking into a bank branch to conduct transactions? Or do you immediately think of signing into online or mobile banking? For many people and for most transactions, it’s the latter. Over the past few years, the landscape of financial management, and banking in particular, has changed drastically in that you as the customer are put in control.
According to Serge van Dam, VP of Mobile Solutions at Fiserv1, financial transactions can be broken into three categories: snacking, lunching, and fine dining. Snacking consists of transactions such as transferring funds or checking balances. Lunching includes bill payments and viewing online statements. Fine dining involves conversations with financial advisors, opening trust accounts, or other highly interactive transactions.
We appreciate the various levels of need when it comes to banking, and we work hard to ensure our delivery meets the needs of our customers. While we continue to provide the personal service offered by our branches, we also look to provide electronic services to meet your needs. As our customers know, we went through a conversion to upgrade our services and delivery in October of this past year. While change is never easy and growing pains may be difficult, we did this to set the stage for a more robust delivery moving forward, and we thank everyone for their patience as we’ve been working through this process.
Throughout 2012, we enhanced our electronic delivery in many notable ways. In February we launched a branded mobile banking application for both Android and iOS powered devices. Through this application you can check balances, transfer funds, view history, find branches and ATMs, and a recent upgrade offers mobile bill payments as well.
As part of our conversion, we upgraded our online banking platform which sets the stage for a more robust, user friendly interaction. Along with this, we upgraded our Bill Payment system, which now delivers up to 85% of payments electronically. With this upgrade, payments are guaranteed to be delivered by the date you specify, and better yet, the money stays in your account until the merchant receives or deposits the money.
Popmoney® is a new online offering that delivers person-to-person payments. Using Popmoney® you can initiate a payment to anyone through a text message or an email. This addition is great for sending money to kids in school, repaying a friend for lunch, or sending a gift in place of a check.
Finally, we re-launched Mariner360, our Personal Financial Manager. The new Mariner360 provides a great platform for aggregating accounts across financial institutions to track spending, manage budgets, and set financial goals.
While we’ve made significant enhancements in 2012, we look forward to 2013 as we continue to refine our current delivery and introduce new technology. We will continue to keep you abreast of new technology and improvements to our services through our monthly eNewsletter. If you haven’t already, be sure to sign up. We also welcome your feedback and suggestions for future enhancements by emailing our customer service center.
As your community bank, we have the unique opportunity to offer the electronic delivery that has become fundamental in managing finances, but we also haven’t forgotten what it means to welcome you into any of our branches and provide you with friendly, local service. We are grateful for all of our customers and appreciate your loyalty over the years. We look forward to the new year and to continue embracing the ever evolving technology that enhances your banking experience.
1 Shaw, S., & van Dam, S. (2012). Mobile Financial Services: Snacking, Lunching, Fine Dining. Fiserv Client Conference Spring 2012.
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