The fast and widespread growth of smart phones, tablets and other devices is forcing many credit unions to define a mobile banking strategy faster than anticipated. The high technology adoption rate by Hispanics makes this important segment of the population an essential part of the strategy.
As reported in
CU Times (Aug. 2012) Forrester Research expects mobile banking to emerge as a dominant banking channel with a predicted 108 million users by 2017.
When you factor in the growth of the Hispanic population combined with their high technology adoption rate, it makes a lot of sense to include them as a crucial part of the strategy to accelerate success.
According to Nielsen, "Hispanics are 28% more likely to own a smartphone than non-Hispanic Whites, which is a significant avenue of opportunity for marketers. Hispanics outpace all ethnic groups in mobile data service consumption including music and picture downloads, and at a growing rate."
Click here to download copy of the Nielsen report.
A 2012 survey conducted by ThinkNow Research and Zpryme found that almost 70% of Hispanics between ages 18-70 use smartphones for online banking while 47% use tablets. Nearly 44% of those surveyed mentioned concerns about information security.
This perceived perception of security must be carefully assessed and addressed properly in your messaging in order to overcome this challenge.
A complete copy of the infographic showing results of this research can be found here.
As you plan for the future mobile banking strategy of your credit union, it is essential to include Hispanics as a cardinal part of the strategy - not as an afterthought. This will help accelerate your success.
Texas credit unions that have a long-term vision and commitment to serving the needs of the Hispanic market. It also alerts the Hispanic community that it can receive friendly, affordable, financial services at Juntos Avanzamos designated credit unions. 
