The ubiquity of mobile devices has changed the way consumers access their financial services including banking, depositing checks, budgeting, shopping and making payments. According to a report by Juniper Research, over 1 billion mobile phone users worldwide are expected to use their mobile devices for banking purposes by the end of 2017, up from 590 million in 2013. Additionally, mobile phones are prevalent among consumers who do not bank and those who use banking very infrequently, presenting business opportunities for customer acquisition through mobile channels.
Survey data shows that one of the key reasons for consumers to not use their mobile phone for banking is the lack of trust and concern about the security of mobile solutions. Tyfone solves this by providing the highest levels of security in the market and combines it with a modern customer experience and a comprehensive digital banking feature set.
Tyfone’s secure digital banking solutions have been rated a top-10 mobile app in 2015, 2016 and 2017, CU Collaborate rated Tyfone’s mobile banking soution a 4.7 out of 5 in their 2015 user satisfaction survey, and has been called a “Cool Company in Security and Technology” by Gartner in 2016. 2 of the top 10 credit unions use the Tyfone digital banking solution.