Virtual StrongBox, Inc.
No. 1 on my list of overused, misunderstood phrases is “mobile first.” Google it and you’ll likely see: Mobile first means …
- “smartphones, tablets and task-specific apps employees use as work tools.”
- “a customer who manages his bank account on a mobile app instead of online or the branch.”
- “millennials, who do everything on their phones.”
- “advice for marketers to rethink their ‘customer experience’ and remap their ‘customer journey.’ ”
One prominent bank core-processor’s definition of mobile first is depressing: “It’s consumers who prefer to bank only on their mobile devices, or turn to the mobile channel first – so-called ‘mobile-first’ users.” Wrong. Mobile first isn’t a group of people, or today’s marketing push, or just another channel.
What’s mobile first …
IMHO (to borrow from my teenager’s texting lexicon),
In his book,
Think about this. If we started from scratch, would we bolt mobile banking onto another program bolted onto a legacy system? Or could we look at it from the user backwards?
My friend, Jeffrey Pilcher, CEO/Publisher of
Is cloud technology a safe solution?
While it’s costly to replace legacy systems, connecting existing systems and workflows to cloud technology isn’t. It’s a smart way to connect
Most institutions fear switching to the cloud because of security concerns – and rightly so. It’s vital for high-security-risk industries, like banking, to safeguard consumers’ private information. But it’s possible to have both security
Moving legacy systems to the cloud allows streamlining your operations so you can redeploy employees to areas needing human touches. It also positions your credit union to offer members simple, intuitive mobile-banking services – just like they expect from other mobile apps.
At Virtual StrongBox, we’ve addressed clients’ security concerns through our patented, highly secure, end-to-end encryption technology. Credit unions provide individual, online “safe-deposit boxes” to members for storing important files like deeds and wills. Then they use that same secure process for exchanging files, like members’ loan documents.
Legacy core systems represent a huge investment; but against new technology, they’re quickly outdated. Cloud technology can work