PSCU Financial Services posts white papers on optimizing mobile banking services

PSCU Financial Services, the nation's largest credit union service organization serving more than 1,300 financial institutions nationwide, unveils an ongoing series of free educational white papers on the company’s site www.pscufs.com. The white papers have the purpose to help credit unions to attract new members and earn their loyalty. The document also include topics such as how to optimize and market mobile banking services, and how to build a database that will identify small business owners and their financial needs.
The credit union industry targets Gen Y (adults aged 18-32) as part of its long-term growth strategy. This is a young and mobile generation which requires 24/7 Web access to financial accounts and information, so robust mobile banking services are essential.
The industry is also identifying and marketing specialized services to small business owners. The study conducted by BAI recently notes that small businesses are increasingly not content with banks and more than 50% would switch financial institutions to gain online banking and other products that are designed to meet their needs. Credit unions are working hard to get to this important market segment because owners tend to seek multiple services for their personal and business finances, and they often develop long-term relationships with the primary financial institution that helped them grow their business.
Mobile banking presents an area of sharply increasing demand that serves both these audiences. David J. Serlo, president, PSCU Financial Services said: "An electronic banking platform with mobile applications delivers an attractive opportunity to grow overall membership and increase market penetration in key segments such as Gen Y and small businesses.”