Launching before the end of 2011, the BankSimple app is hoping to generate some buzz and attract an audience by offering no surprise fees. The app is updated in real-time after you make a purchase.
The BankSimple app has the potential to catch with people who are frustrated with their banking fees. In addition, BankSimple is offering great customer service. It will be interesting to see what kind of reception this great product will receive when it is released.
Implications - Consumers live busy lives and are continually looking for ways to be more efficient. Simplified online banking from a smartphone means that consumers can process bills and check their balance when they have a free moment. Companies should finds ways to use new technologies to makes the lives of their consumers more efficient.
Why This Trend Is Growing
- Fee-free Mobile Banking
- The trend of fee-free mobile banking apps like BankSimple allows for a more efficient banking experience for consumers who don't want surprise fees.
- Real-time Financial Updates
- Real-time updates in banking apps like BankSimple allow consumers to have a more informed view of their finances and make better decisions with their money.
- Improved Customer Service in Banking
- Banking apps like BankSimple stand out on the market by making great customer service a priority, proving an opportunity for innovation in improving customer service in banking.
Industries Being Reshaped
- Mobile Banking
- The mobile banking industry should consider incorporating fee-free and real-time updates to their services to attract more customers.
- Fintech
- Fintech startups can innovate in improving customer service by making it a priority and distinguishing themselves in a highly competitive market.
- Online Transactions
- Companies in the online transactions industry have the opportunity to implement real-time updates and improve customer service, simplifying the online banking experience for consumers.
