Community Financial Institutions and the Digital World

We live in a world where consumers expect to get things done on-the-go using mobile devices. Having the technology to do everything at their fingertips is key. To truly connect with activated consumers, Community Financial Institutions (CFIs) need to embrace advances in digital technology, allowing consumers to access their finances seamlessly in one place and from anywhere.

It's simple: mobile phones rule the world

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Mobile Users Globally1

2.4 Million

Number of search queries per minute on Google.com2

$203,596

Average total sales per minute on Amazon.com4

51,000

Number of App downloads per minute from the App Store3

$350,000

Average total transaction volume per minute through First Data’s Digital Banking platform

Mobile is not an exception; it’s the expectation

Engaging the Activated Consumer

Activated consumers expect their Financial Institution to provide the digital tools they need to manage their financial lives while on the move

40%

Americans who use mobile banking are less likely to switch banks5

50%

Americans who say they would rather forget their wallet than their mobile phone for a day6

60%

Americans who now bank by mobile at least once a month7

Consumers want more out of digital banking

The Market is Talking

To stay relevant among consumers, it’s vital for Community Financial Institutions to provide a seamless and dynamic digital experience

95%

CFIs that invested in digital technology in 20158

66%

CFIs that say an increase in competitors will be a disruptive force over the next 5 years10

100%

CFIs that say delivering a seamless omni-channel experience to customers is extremely important9

The online banking landscape is competitive and continually evolving

It's a Digital World

Offering innovative and secure technologies give Community Financial Institutions the upper hand with consumers while improving their institution’s bottom line

20%

Amount that CFIs can potentially save by adapting to a new digital business model11

86%

Consumers who say they trust their CFI to keep their data and money safe12

2X

Estimated increase in annual revenue growth for CFIs that engage end users with mobile technology and social media13

Consumers trust in digital banking, plus digital banking is cost-effective

Moving to the Next Level

it’s no wonder First Data is in the perfect position to lead Community Financial Institutions into the next generation of digital banking

734,560

Consumers who use First Data’s Mobile Banking solution to manage financial transactions

2.4

Million

Consumers using First Data’s Digital Banking through their Community Financial Institution

609,000

Consumers who use First Data’s Digital Banking platform to pay bills every month

168+

Million

Consumer logins to First Data’s Digital Banking platform in the last year

First Data’s Digital Banking platform enables CFIs to engage end users and address the mobile-first demand

The First Data Difference

First Data delivers 21 innovative secure services on a single platform and seamlessly integrates with existing technology. We are committed to enabling best-in-class solutions that increase user engagement, retention and revenue while keeping our clients relevant.

Connect with First Data:

Call: 866.571.0350 of visit firstdata.com/connect