DSFCU Reaches 30 Percent Mobile Adoption in 90 Days
Credit Union Smashes Industry Average for Mobile Adoption in Record Time
SAN RAFAEL, CA, Oct 09, 2012 (Menafn - MARKETWIRE via COMTEX) --Monitise plc , a leading technology and services companythat delivers mobile banking, payments and commerce networksworldwide, today announced Desert Schools Federal Credit Union(DSFCU) reached 30 percent mobile banking adoption in 90 days,setting a new record in rapid adoption.
DSFCU also reports that early adopters of its mobile banking solutionare two times more profitable than traditional banking members, andare averaging 46 interactions a month with the mobile bankingapplication.
"The demand among our members for a mobile solution has far exceededour expectations and offers a lesson to other credit unions -- now isthe time," said Ron Amstutz, Executive Vice President of DesertSchools Federal Credit Union. "Monitise offers a mobile solution thatwill allow for future growth and innovation and has played aninvaluable part from development, through launch."
Led by Monitise's mobile money platform and adoption services, DSFCUattributes its record-breaking mobile adoption post-launch todelivering a feature rich mobile experience out of the gate,capitalizing on market demand and cross-channel marketing dedicatedto mobile conversion. Early adopters of the new channel wereprimarily from the young-adult and affluent groups. DSFCU reportsthat these aren't only its most profitable, but the most susceptibleto churn -- making mobile a critical channel to future growth.
"Winning the mobile engagement of the consumer is essential to thevalue proposition and strategy of every financial institution," saidCarl Tsukahara, Group Head of Marketing at Monitise. "Desert Schoolsis a prime example of the high demand for mobile banking and paymentservices among consumers, and that with the right user experience,content, and adoption planning; initial expectations can easily beexceeded."
DSFCU braced for a spike in customer service calls at rollout, butexperienced very little support or service issues from members. Sincelaunch, the DSFCU mobile banking app has enjoyed a 4.5 star rating inthe app store. The top requested feature from DSFCU members has beenfor a remote deposit capture (RDC) offering. DSFCU is currentlyworking with Monitise to offer members RDC and plans to rollout thenew feature at the end of the month.
For more information on DSFCU's mobile banking and mobile depositofferings, please visit the credit unions website here:https://www.desertschools.org/templates/detail/detail.aspx?id=6990
About Desert Schools Federal Credit Union Desert Schools isArizona's largest credit union with 3 billion in assets, 320,000members and more than 50 locations. As a not-for-profit cooperative,Desert Schools has been serving members for more than 70 years withstellar service, innovative products, community outreach andeducation. Learn more at www.desertschools.org.
About Monitise Monitise plc is a leading technology andservices company that delivers mobile banking, payments, and commercenetworks worldwide. Monitise enables financial institutions and otherpayments companies to defend and extend their market position byprotecting their existing customer relationships and transactionswhile enabling new forms of mobile commerce revenue.
Monitise powers bank-grade solutions that are delivered on premise,or via cloud services, handling more than a billion transactions andover US20bn worth of payments and transfers on an annualised basis.Monitise has a global reach and unique set of partners and clientsusing its completely adaptable platform. More information isavailable at www.monitise.com.
Kate Reed or Peter Sadler
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peter [at] launchsquad [dot] com
SOURCE: Monitise plc
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