Debit and Credit cards have been seen in banking landscape since mid-1960s, so we can safely conclude that it is quite likely that our current customers and even their grandparents somehow used cards before. In other words, in the most likely scenario,
the total number of Credit/Debit card users in your bank database is higher than the total number of Digital Banking users. The gap between this two shows the potential you have for digital channels migration. Considering that majority (if not all) of your
customers are familiar with the card world (physical card and card’s pin), then why don’t we utilize this familiarity factor increasing migration to digital channels?
When we have look to the market, there are two common ways of using Credit/Debit Cards as an access tool to Digital Banking: CARD LOGIN and ONLINE BANKING APPLICATION via CARD. You can have both ideally and their contribution to your banking base would not
be less than 50 % - by experience.
This is the short version of the post.
Starting from Tip 2 to Tip 30 only short versions of my posts are available at Finextra. From Tip 31, full (long) versions of my posts can be read here.