Ltap Research: Banking

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Monday, October 5, 2015

Digital Marketers Banking on Mobile, Social Channels September 29, 2015 | Subscribe Free

Digital is fundamentally changing marketing as we know it. Not long ago, marketers previously viewed digital marketing as simply one category within marketing — one tool of many in the marketer’s kit. Increasingly, perception is shifting to a more holistic view in which all marketing is part of the digital world.

Research conducted by Salesforce clearly establishes that marketers now view digital channels as the cornerstone of their strategy, and many of these channels now anchor marketing functions.

According to the “2015 State of Marketing” report from Salesforce, 45% of marketers plan to shift spending from traditional mass advertising to advertising on digital channels. The 54-page report, based on a survey of over 5,000 marketers in the U.S. and around the world, looks at marketers’ top priorities across all digital channels, and how their budgets, metrics, and strategies are shifting to support their goals.

Marketers today have mind-numbing number of technologies, channels, and tactics to choose from. The first step toward a solid strategy is finding focus amid the noise — figuring out what works… and what doesn’t.

As part of the survey, Salesforce asked marketers to share their top challenges that they face while executing their strategy. Some perennial issues continue to plague marketers, such as budgetary constraints and establishing marketing’s ROI. But among the top concerns marketers worry about most is the need to constantly stay on top off all the new marketing technologies and emerging trends.

The research also revealed some stark contrasts between marketing in 2014 and 2015 — significant changes for such a short period of time. In 2014, the top areas in which marketers planned to increase spend were scattered across multiple disciplines and disparate initiatives. In 2015, the top five areas are all tied to social and mobile channels.

Survey participants said the number-one most pressing business challenge facing today’s marketer is new business development. And where is that new business hiding? On smartphones and tablets, which are increasingly responsible for a bigger portion of consumers’ time spent online.

The Mobile Marketing Imperative

According to the report, 78% of marketers today have integrated mobile into their overall strategy, and 46% rate mobile website or app traffic as the most important mobile marketing metric.

Salesforce cautions that if you haven’t yet integrated mobile into your marketing strategy, you need to get started — now — or it will be too late. With 58% of marketers saying they now have a dedicated mobile marketing team, you’re in the minority if you aren’t headed in this direction.

One of the first steps Salesforce says you should take is to figure out who your internal mobile experts are so you can assess any barriers that may exist between mobile and your other channels. Build a digital team that blends mobile, social, email, and web so you can take a holistic look at how your customers currently interact via mobile as part of the marketing journey.

The Salesforce report singles out two specific mobile opportunities: loyalty and location-based campaigns. Marketers running mobile-based loyalty campaigns say they are extremely effective. Salesforce says that if you don’t yet have a loyalty program, developing one with a mobile-first mindset is the smart way to get started.

They also recommend that you don’t wait any longer to test location-based content. With 67% of marketers planning to substantially or somewhat increase spending in this category in 2015, you risk falling behind if you don’t explore it.

“The consumer appetite for location-based content is there,” says Salesforce. “You just need to discover how your business can respectfully and relevantly use customer locations to create a more cohesive journey in the real world as much as in the online world.”

The Return on Social Media

Social media is no longer seen as the fringe marketing outlet that it once was. In the study, 66% of marketers rated social media as core to their business. 78% have a dedicated social media team, up from 57% in 2014.

Salesforce says it’s time to get serious about social, and test new channels. Do your research on channels that might resonate best with your unique audience. Engage in some social listening to see if topics relevant to your brand or competitors are taking place on these lesser-known social networks (they suggest Tagged, for instance).

Salesforce says you need to invest the resources — both headcount and budget — to support social as a viable channel. If you’re not yet seeing significant business results from social, they recommend starting small and focusing on just one platform. What’s the one channel where your social audience is most responsive? Direct more resources to growing that space instead of spreading your efforts too thin.

You should also adopt a round-the-clock strategy. New data shows that consumers are most engaged on social media during weekends — which, coincidentally, is when brands post the least frequently. Designate on-call social managers for every hour of the day, because people interact on their schedule and their own terms when it comes to social media.

“True, you can schedule messages on Facebook and Twitter in advance,” Salesforce points out. “But why schedule posts ahead if no one will be available to reply?” Messages posted to social channels should entice questions and engagement, and few things can frustrate consumers more than a question that goes ignored, especially when the brand posted just moments earlier.

Test what works for your own social audience. Salesforce recommends doing an internal benchmark study. Over a three-month period, track social engagement for time of day and days of week, then see when engagement is typically highest and lowest and focus your social efforts accordingly.

Don’t Overlook Email

With all the glitz and glamour of social media and emerging mobile marketing opportunities, it’s easy to forget about one of the oldest — but still most effective — weapons in the digital marketer’s arsenal: email.

Some argue that there may be a continuing role for email, but it’s importance is waning. Not true; in fact, it’s the opposite. In the Salesforce, study, 73% of marketers said they believe email marketing is core to their business. 60% of marketers in the 2015 survey said that email is a critical component in their strategy vs. 42% of marketers in 2014 — a huge jump in only 12 months.

Salesforce says you need to evaluate email’s role in the customer journey. Subscribers keep their inboxes close, whether in their pocket or an always-open browser tab. Email can guide people through many stages of the customer journey… but first you have to assess and understand the journey you’re currently leading them on.

Ask the following questions as you map your email touchpoints: Are you sending too many welcome messages early on, but too few retention emails? Are your communications steady throughout the journey, or do they appear randomly whenever you’re running a new campaign? How can the email customer journey become more one-to-one instead of one-to-many?

You also need to recognize that your work schedule doesn’t always jibe with your subscribers’ email-reading habits. Consider sending campaigns over the weekend, when subscribers may have more leisure time to peruse their personal email accounts and digest non-urgent messages.

One thing is for certain: your emails must be designed responsively. Salesforce is unequivocal with this advice. Small-screen friendliness must become part of every visual element in your marketing strategy.

In 2014, 42% of marketers “rarely or never” used responsive design in emails. But one year later, only 24% of marketers said they used responsive design “rarely or never.”

Like most marketers, you probably saw a noticeable increase in the percentage of mobile email opens compared to desktop opens last year — possibly even a double-digit increase. Subscribers are voting for responsive design with every click, so if you’re not already designing an easily navigable experience on mobile, it’s time.

Email might have been around longer than social and mobile, but that doesn’t mean your campaigns have to be old-school. Salesforce says you should breathe new life into your email campaigns.

When it comes to email, many marketers don’t test new campaigns, instead relying on old standbys. For example, newsletters are used most often but rank lower for overall effectiveness. Email campaigns with low usage but high effectiveness ratings include abandoned cart (24% use; 93% rate as at least somewhat effective), browse retargeting (24% use; 93% rate as at least somewhat effective), and anniversary (26% use; 91% rate as at least somewhat effective). Some of these campaigns take extra effort to implement, but they may deliver your best email conversion rates.

Try spring-cleaning your email. Send a reengagement campaign that invites subscribers to update their preferences and gain more control over the type and frequency of messages they’re receiving. Make it easy for seasonal subscribers who are interested only in your holiday deals to unsubscribe without resorting to the spam button.

Thursday, December 4, 2014

With Cardless ATMs And VR, Banks Are Vying To Out-Nerd Each Other For Your Attention

Heartbeat passwords, computer goggles, and nagging fridges. But what of the banks' future visions will actually stick?

By Jennifer Elias

Imagine, if you will, the big bank as an incubator.

In the year that bitcoin began to grow up and Apple Pay was born, this is precisely what the country’s largest financial institutions want you to imagine. Three of them opened up innovation labs to think of what’s next in mobile banking; some are starting their own accelerators. The latest research estimates that U.S. mobile payments, currently at $52 billion, will grow to $142 billion within five years.

Now an industry not exactly known for speed is approaching 2015 with an ethos that sounds more Silicon Valley than Wall Street, touting visions of semi-automation, wearables, and the kind of futuristic security they hope will inspire consumers to trust them and their technology in the first place.

Cache Rules Everything Around Me

To understand the banks' technological turn, look no further than the millennials who believe that someday soon, they'll be able to live without them. In an age of social media and upstarts like Square and bitcoin, big banks, according to one recent study, make up four of the top 10 most hated brands among people born between 1981 and 2000. But the purchasing power of these young people is estimated to be enormous—around .

Next year, bank executives say, automated systems will help address long-standing customer requests, like the ability to withdraw more cash at ATMs, spend less time waiting in line at branches, and even leave their wallets at home.

At Chase, the robots are coming, but they're not completely taking over. The bank intends to roll out a half-automated ATM in 2015, says Brad Nolan, head of the bank's branch and ATM innovation. Though he couldn't specify locations, the machines will likely be first adopted at select California and Ohio branches before spreading across the country in the coming years.

"We're going to be equipping our tellers with tablets inside of the branches," he says. "Customers can withdraw more cash and ourrisk systems can alert a teller if a secondary form of ID is needed. We're really trying to not just focus on self-service. It's this whole concept of assisted service."

The bank began rolling out its first form of eATMs earlier this year in a few locations, including Silicon Valley branches. "If you put that experience out there and enable customers to do what they want to do, they'll use it hands down, day in and day out," he says.

This also means getting rid of cards altogether. Starting in 2015, tellers equipped with tablets—they didn't say which kind—will be able to access account information with just a customer's fingerprint. "There’s still a lot of customers who don’t have debit cards," Nolan says. "Now customers will be able to come in, and if they don't have a card, no problem."

Bank of America’s new Teller Assist ATMs combines on-screen tellers with an ATM that dispenses many more denominations of cash than normal. Starting in 2015, the bank also plans to convert all of its credit cards to chip-embedded EMV cards, which offer greater security features.

VR Banking And Tracking Beacons

Banks close earlier than most other businesses, which is why Wells Fargo, Chase, and Bank of America are all planning ways to use video as a focal point for customer interaction in 2015.

Bank of America e-commerce technology executive Hari Gopalkrishnan says that kind of convenience is the biggest demand he gets from customers. Nolan, Chase’s ATM innovation head, says banks need video more than any other industry. "We're interested in how you can make this [video] enable devices that we manage, like ATMs, bank kiosks, all the way to a live chat session from a customer's computer at home or on their mobile device."

With 13 million mobile users, Wells Fargo will be continuing pilot research on videoconferencing with tellers between users’ tablets and TVs.

"When making important financial decisions, video is going to be key to connect bankers with our customers where and when they want," says Jim Smith, head of Wells Fargo’s Virtual Channels Group. He says the bank plans to integrate apps for Google Glass as well. In a demo, the bank showed clients using Glass to scan checks and credit cards in order to pay bills in order to authenticate themselves to a teller on the other side of a videoconference.

The bank also created an Oculus Rift prototype that allows customers to walk into a virtual branch, and Capital One has beenexperimenting with the VR headset too, but neither look terribly impressive. Fidelity has announced an Oculus vision that would enable users to view their stocks in the form of a three-dimensional city.

Closer to production is Wells Fargo’s connected car concept, which addresses the 30% of Wells Fargo’s customers who prefer drive-through banking. In 2015, a second round of testing will include making payments at bridge tolls, drive-throughs, and eateries. MasterCard—which is also working on connected car payments—presumes "you’ll be able to order ahead from a gas station without taking hands off the steering wheel," says chief innovation officer Garry Lyons.

MasterCard recently demonstrated mobile payments between smartwatches and laundromats, and will be piloting payment-enabled refrigerators in 2015. Though the details are still under wraps, this will likely include a screen like the kind seen on modern soda machines, only it would give users the option to buy groceries for pickup or delivery.

"If I’m running out of eggs or milk, depending on the intelligence in the device, the fridge will notify you when you need milk, eggs, or whatever you need," Lyons says. "The technology is already there so we don’t need to invent anything new, we just need to deploy our scale."

Chase and Wells Fargo are both planning to include services that allow customers to "check in" to a branch. Chase’s, called "You Know Me," will enable tellers to expect who’s coming in, and to bypass basic questions. Wells Fargo intends to launch a pilot with Bluetooth beacon technology in 2015, allowing customers to opt in to be recognized when they enter a branch. Services like this—already being tested at some Apple Stores—are meant to target the customer who spends more time in the bank.

Wells Fargo has developed a separate beacon system for use in several retailers and mall operators like Macerich to analyze in-store shoppers in real time, suggest targeted discounts, and allow them to make on-the-go payments from their phones. Such concepts were used in the bank's recent smartwatch interface prototype, which also offers users budget milestones: "Do you want to make a payment now," or "Congratulations—you’ve reached your savings goal!" Think Fitbit for banking.

The Next Phase Of Palm Reading

With all of the plans to rev up banks’ technology, there’s more of a need for security than ever. And even the most formidable firewalls haven't proved safe: In June, JPMorgan Chase suffered a massive hack that affected over a million customer accounts.

Enter biometrics, say the banks—fingerprints, handprints, voiceprints, and more. "You authenticate yourself before you make a payment; why can't you authenticate yourself before you walk into a bank?" says Chase’s digital director Avin Arumugam, who worked on the tokenization of Apple Pay and who is developing palm-scanning ATMs.

Starting next year, big banks will be using biometrics not just for authentication but also so that users can perform hands-free mobile banking on their phones or in their cars.

Jim Smith, of Wells Fargo, says users will be able to ask things like, "How much did I spend in September? "How much money was deposited into my account yesterday?" and "How much did I spend at Starbucks last week?" Users will be able to use their voice to do things like sort through transaction history, move money, and make payments.

"One of the biggest findings from the pilot was how voice made everything so much more convenient," Smith says.

The bank expects demand for services that make mobile banking easier, in keeping with a rise in mobile customers. Chase has 23% more mobile users from a year ago and saw a 61% user jump in its QuickPay feature. And wearables like Apple’s smartwatch are set to bring in more users who want to be able to conveniently bank without the use of many buttons.

Chase’s Brad Nolan says all these biometrics won't just improve customer experience but that of bankers as well, "from a holistic 'How do we manage the branch?' perspective."

"We have all kinds of keys within the branch for locks, codes, and sign-on passwords, and biometrics can provide a very easy way for our employees to access a branch, navigate within the branch, open a vault and those types of things," he says.

Among the stranger authentications in the works for 2015 is MasterCard’s collaboration with heart rate biometrics company Bionym, whose wearable device connects to an ECG sensor that reads the electrical impulses of a user's heart.

Lyons describes the idea as part of a new phenomenon called "Persistent Authentication," enabling him to do things like "make apayment with my mobile device without a password and the potential to unlock anything that requires a key," he says. "When I leave my house, it locks the door. I walk to my car, it unlocks the car, and it sets my seat settings. I walk to the office, it automatically lets me in. I walk to my laptop and it automatically logs me on."

Wells Fargo has also begun experimenting with Google Glass, which would be worn by tellers to scan guest’s faces to authenticate and bypass questions. Arumugam, Chase’s digital director, says he’s not sanguine about the whole face-scanning idea, preferring instead to use his phone as his banking device.

"I'm not going to sit here and talk about using people's faces for our tellers to scan," he says. "The technology is interesting but I think we are really protective of our customers' privacy and understanding how we want to interact with them. How we blend that [technology-advanced authentication] in with the consumer, with the real world—that's the challenge."

http://www.fastcolabs.com/3039036/internet-of-things/with-cardless-atms-and-vr-banks-are-vying-to-out-nerd-each-other-for-your?utm_source=mailchimp&utm_medium=email&utm_campaign=colabs-daily-newsletter&position=1&partner=newsletter&campaign_date=12032014

Monday, October 27, 2014

Will Millennials Change Banking Forever?

October 21, 2014 | Subscribe Free

Research reveals insights into the financial attitudes and banking preferences of the largest generation in history.

Millennials, also known as Generation Y or (less commonly) Echo Boomers, are the fastest-growing generation of consumers in the banking industry. This generation, encompassing nearly 80 million Americans born between 1977 and 1995, is entering the life stage where they are making significant financial and banking decisions that will affect the rest of their lives. This translates into a huge opportunity for banks to win their loyalty for a lifetime.

Millennials in the United States at a glance:

Currently ages 19 to 37
Number around 79.8 million
Most ethnically diverse generation in U.S. history
Getting married and having their first child later than any previous generation
Buying their first home later than previous generations
Greatest number of college graduates ever — twice as many degrees conferred in 2009 as in 1970
Came of age with the Internet, mobile devices, and ubiquitous social media

Millennials, because of their size and life stage, currently represent the greatest potential lifetime value of any consumer segment in banking. Financial institutions need to worry about wooing this demographic for one simple reason: inertia. If most consumers don’t switch banks unless either (1) they move, or (2) something goes horribly wrong, then it’s critical for banks and credit unions to win over as many Millennial consumers as quickly as possible.

With that in mind, the industry trade group Independent Community Bankers of America (ICBA), has released findings from their study, “American Millennials and Banking: A Cross-Generational Study,” to help financial industry executives better understand the differences between Millennials, Gen X and Baby Boomers. The study revealed the change in demands on financial services in America.

The survey revealed that 55% of all Americans believe that banks treat them like a number. The generation that most strongly felt that financial institutions treat them like a number? Millennials (58%). 66% of Americans wish their relationship with banks were more personal. Ironically, if you asked banks what they think sets them apart from their competitors, the overwhelming majority would cite their “warm, friendly, caring and personal service.” Obviously there is a disconnect between the experience banks believe they are delivering and what Millennials are actually experiencing.

How Millennials Feel About Banking

Millennials say they like local institutions. 54% say they prefer to work with locally owned and locally operated community banks to handle their financial needs, and 46% of Millennials said that a locally owned banking institution is important to them. That may be what they say, but it doesn’t align with their actions and choices. Millennials may like to whine about how they get treated by big banks, but that doesn’t seem to prevent them from putting their money at BofA, Chase, Citi and Wells Fargo with the same relative frequency as other generations.

Millennials think mobile first. A full 74% of all Millennials surveyed said, “Mobile banking is very important to me.” This was the highest of any generation surveyed and 76% greater than the Baby Boomer response.

Millennials want a relationship. 64% of all Millennials surveyed place importance on developing a relationship with their banks or financial institutions. Millennials seem to be saying they want the best of both worlds: high tech and high touch. This creates a challenge for financial institutions; how can they cultivate personal relationships with Millennials when this demographic gravitates towards digital channels?

Millennials admit they need to know more about their finances. 70% said they wished they had more knowledge and skills when it comes to banking and other financial matters.

Millennials eschew cash. When asked, “How many days per week do you carry less than $5 in cash?” Almost a quarter (23%) of all Millennials surveyed said seven days a week.

Entrepreneurial Spirit Strong Among Millennials

Millennials, who have come of age during the Great Recession where jobs have been scarce, might become the Great Entrepreneurial Generation. Millennials are by far the generation most interested in learning about how to start and run a business. 41% of Millennials said that they are very interested in starting up their business, and 46% of all Millennials surveyed said that they would appreciate help getting a business off the ground.

The survey found that 36% of all Millennials said that they are considering starting their own business or, if they already owned a business, are considering starting another one. Of those who indicated that they are currently considering starting their own business or starting another business, 62% said that they would like to be in a position to start within the next 24 months.

When asked, “Who would you rather meet — the president of a local bank who just approved a loan to start up your business, or the President of the United States?” 57% of all Millennials chose to meet the bank president.

Millennials’ entrepreneurial drive is already having an impact on the economic landscape. In the ICBA survey, nearly a quarter of Millennials (24%) say they currently earn at least part of their income from a business they own or have a stake in — more than any other generation surveyed.

Recommendations to Attract and Retain Millennial Customers

The ICBA outlined a number of recommendations for financial institutions who are targeting Millennials.

Create an Entrepreneur Advisory Board. Most financial institutions have a board of directors, a loan committee, and occasionally an advisory board. With Millennials being the generation that most wants and intends to start their own business, creating an Entrepreneur Advisory Board would be a tangible step to demonstrate that your institution actively engages, influences, and welcomes advice from the Millennials.

Adapt to Millennials’ communication preferences. This generation is highly visual as learners and communicators. This new generation has literally been conditioned to skip blocks of text and instead look for videos, photos, and bullet points. This is underscored by the fact that the generation naturally communicates through screens, such as smartphone or tablet screens. Here are three strategies to communicate with Millennials that align with their preferences:

Tell your bank’s story visually. Instead of presenting your story online in multiple paragraphs, turn it into graphics and pictures, or a short, fast-paced video that engages Millennials to see how your institution is different. The more personal stories you include — especially ones that feature other Millennials — the easier it is for Millennials to see that you are focused on helping people like them.
Present information to Millennials digitally vs. brochures. Millennials like to see information visually represented on a screen. When you are meeting with them, offer a screen — such as a tablet — for them to look at while you walk them through your presentation or discussion. This is especially true when you are helping them understand and make financial decisions.
Instead of providing a traditional business card, offer to connect via LinkedIn.

Make Millennials feel like VIPs. Millennials reacted the strongest when asked if they feel that banks treat people like a number. This presents opportunities for community institutions to distinguish themselves by showcasing how they treat each people.

Introduce new Millennial customers to three bank employees so they are familiar with the team and not just the person who opened their first account.
Ask Millennials how they would like to be contacted by a banker. This might include contacting them via text message rather than the more traditional email or voicemail.
Invite Millennials as guests to exclusive events that they otherwise might not be able to attend — festivals, sporting events, fashion shows, and non-profit fundraisers.

The bottom line, according to the ICBA, is that Millennials are bringing a new perspective to banking. This generation is keenly aware that they need to better understand finances, place value in banks that help make their dreams a reality, and expect much of the experience to happen directly from their preferred mobile device, and all without carrying much cash

Monday, September 8, 2014

5 Ways Banks Can Increase Mobile App Revenue and Engagement

JULY 30, 2014BY JJ HORNBLASS

I’m not one for “list” blogs, such as “The 13 Worst Things You Can Buy On eBay That Are Made Out Of Loom Bands” or “29 Genius Ways To Consume More Tequila,” which means I might not be Buzzfeed‘s optimum visitor.

Sometimes, though, list blogs have merit.

Now that you are back on Bank Innovation after clicking onthe tequila list-story (don’t worry, I won’t tell), I can share a marketing list that deserves bankers’ attention. The post is titled, “5 Ways to Increase Revenue and Engagement with Mobile Apps,” by Adam Marchick, the CEO of a mobile marketing company called Kahuna. The post was written for consumer mobile apps — and that’s exactly why I found it so compelling for banking apps. When you think about mobile banking apps through the lens of consumer apps, the deficiencies in banking apps become obvious. What follows are Marchick’s points (“The Consumer Angle”) and our take on what they mean for mobile banking apps (“The Banking Angle”):

1. Provide Value to Encourage Engagement

The Consumer Angle: Cultivate user engagement and retention by sending marketing messages with relevant, valuable content. Personalized recommendations, based on ‘last brand viewed’ or ‘most recent purchase’, provide value to your users and warm them to your mobile app experience. The key is to target specific segments of users and to incorporate personalization.

The Banking Angle: Is any banking app doing this today, or at least doing this effectively today? There isn’t even much personalization, let alone cross marketing, via mobile. This has got to be a priority going forward.

2. Inspire Urgency to Drive Mobile Conversion

The Consumer Angle: Once your users are engaged with your brand on mobile, it is time to start encouraging them to make a purchase. Research shows that 48% of users worldwide list mobile as a key media for impacting purchasing decisions. Develop a robust cart abandonment strategy that incorporates real-time customer behavior across channels (i.e. if a customer adds an item to their cart on desktop, mobile web, or through your app), and leverages push and in-app messaging to encourage immediate conversion. Make sure to customize your marketing message for each user by referencing the specific item waiting for them in the cart.

The Banking Angle: There are still too few product sales executable via mobile. If your customers cannot use their mobile app to add a credit card to their account, there is something wrong. Banks need to just get to Step 1 of allowing for product sales. Let’s worry about Step 2, the cart abandonment strategy, later.

3. Offer Social Proof to Cultivate Brand Loyalty

The Consumer Angle: Encourage your customers to share on social – this is a great way to transform your customers into brand advocates, and to generate network effect organic user growth. Consider a VIP campaign or special promotion message to encourage your top mobile customers to spread the word to their friends.

The Banking Angle: We have seen various attempts at this, and obviously there are privacy issues here. Suffice it to say, there are still ways to get consumers to pronounce their love for your brand. Don’t let regulatory compliance become an excuse for listless marketing.

4. Find the Risk Rhythm to Retain Users

The Consumer Angle: As you continue to engage with your mobile customers, prevent over-messaging by tailoring your push strategy to accommodate each user’s unique time of day preference and message frequency tolerance.

The Banking Angle: Banks aren’t even close to getting to this level of “over-messaging.” If anything, consumers are craving more and better messaging.

5. Build Trust to Onboard Effectively

The Consumer Angle: New mobile users need to understand the value of your app — why is it a must-have? Make a great first impression with an informative splash page (an extra screen that pops up the first time a user opens your app). Use this prime real estate to guide the customer through your app’s top features, and to demonstrate the value of opting into push notifications. On iOS, you are only allowed to officially ask for push permissions once. Don’t waste your only shot by asking for push permissions in a splash page. Instead, start with an informal ask, and only prompt them to the official permission page if they answer “YES.”

The Banking Angle: This is good advice. Most bank app design tends to center on cleanliness and user experience. It’s time to start thinking about marketing within the app, too. Back when (we are talking five years or so ago), just having an app was the goal for most banks. The focus needs to move from a “check the box” mentality of having a mobile app that is “good enough,” to one that can facilitate a more aggressive marketing agenda. The status quo is not good enough anymore. This is 2014, after all.