What 90 Percent Want From Digital Banking

If a bank doesn’t offer digital services, a lot of Americans are likely to take their money elsewhere.

According to a new survey from technology company VSoft Corporation, nine out of 10 (89 percent) of consumers in the U.S. expect their bank or credit union to offer some form of digital banking service, while 58 percent consider digital banking services a top priority when selecting a a financial institution with which to do business. That statistic appears to be supported by another facet of the same survey, which found almost half of Americans (48 percent) use more than one device — such as a mobile phone, tablet and/or laptop or desktop computer — when conducting online banking transactions.

In a press release, VSoft shares its takeaway from these findings, recommending that financial institutions invest in digital banking offerings that provide consistent user experiences across the multiple devices that consumers are using.

“The evolving demographic, coupled with the rapid growth of digital devices, has resulted in a meaningful shift in consumer expectations,” Murthy Veeraghanta, chairman and CEO of VSoft Corporation, stated in the release. “Not only is digital banking expected by consumers, but multi-device banking has become the new normal. To remain relevant, banks and credit unions must invest in a digital banking platform that is device-agnostic and features a responsive design.”

The VSoft survey on digital banking was conducted online by Harris Poll among more than 2,000 U.S. adults ages 18 and older from Oct. 29 to Nov. 2, 2015.