Over the past decade, smart mobile technology has become a staple for both personal and business usage. Not only has mobile technology become critical for growing businesses, it has also improved customer service and company productivity by facilitating communication and increasing accessibility to information. As mobile technology only continues to grow, how can we make sure our businesses are up date with the new trends and innovations in this area?
A growing trend on mobile is the way we are able to pay. The development of apps such as Apple and Google Pay have made payments easier than with Paypal or contactless cards. But what does this mean for business? Retailers have to ensure they can accommodate such payment apps, as more customers will likely become accustomed to this form of payment in the near future.
Another example of recent developments in mobile technology is the surge in the market of ‘app only banking’. Companies such as Atom Bank and Fidor Bank have responded to reactions on the increasing use of digital technology and the decline in bank branch visits. This new type of mobile only banking not only stems from advances in technology, but are a direct result of the shift in customer expectations. These examples are an indication of how consumers expect simplicity, speed and efficiency more than ever before.
With the constant growth of smart phone technology, it is important that business leaders are at the forefront of any changes. They need to understand the reasons behind the popularity of new trends, in order to figure out what these can do for their organisation, and how to turn it into a competitive advantage.