Monday, August 29, 2011

The mobile web: transforming the way you bank

Smartphones are everywhere these days, and we’re using them to do just about everything, too. Some of you may even be reading this very blog post from your iPhone or Droid. And just as the rest of the world is going mobile, so too is banking.

Rapid adoption of smartphones is resulting in more consumers than ever using the mobile web to check balances, review transactions, or receive alerts, according to a report released recently by Forrester research (and frankly, you can probably look around you and observe this happening in real time). In fact, Forrester’s forecast indicates mobile banking will increase five-fold over the next five years, with one in five American consumers using online banking by 2015.

Yet while most people associate banks with physical branch locations (especially community banks like Androscoggin that have been around for more than a century), the truth is that we’re excited about this revolution and the opportunities it brings. Yep – you heard us right. We like the way things are changing. In fact, we’re doing everything we can to encourage it.

The rise in mobile banking is actually a good thing for banks, and it’s certainly good for all of you. Convenient access to services on-the-go is an obvious benefit, but so too is the fact that online banking and mobile accessibility also gives you more control over how often you want to check balances, make transfers, and communicate with your bank. There are a lot of reasons why visiting your local branch or even calling us by phone can provide a better opportunity to answer your questions or run through options, but on a day to day basis many of you would prefer to interact with us the same way you would your co-workers or friends: via quick, easy mobile exchanges. That’s why we’re developing new mobile services that will be rolled out over the next few months. Adapting to change isn’t about just reacting to shifts in the way you like to communicate, shop, and even bank using your phones – it’s about recognizing how the way we all communicate is transforming and figuring out ways to make sure we’re still making your life easier.

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