How important is channel integration? Are your mobile banking customers using other channels as well, or solely mobile?
Acharya: We tend to think of our mobile customers as just customers, and our customers use all our channels. Our goal is to make it more convenient for you as our customer to access our services -- whether it is via mobile, online, the ATM or in the branch -- or sometimes you want to call us. What we see is that our customers use multiple channels, and our goal is to create an environment where they can have a seamless experience across those channels.
Chase was one of the first banks to offer mobile remote deposit capture. How has the product grown, and what will be the next big mobile product to hit the market?
Acharya: Since we launched mobile RDC in 2010, the uptake from customers has been phenomenal. I think that's because we solved a basic problem -- it's convenient; you can deposit a check in your pajamas. If you get a check from someone for five grand, you're walking right down to the branch and depositing it. But if you get a $50 check, it sits around for a long time. It's all those little annoying checks that add up, and that's where mobile RDC factors in. That's not to say it's only for small checks; some people do deposit their payroll checks with it.
There are a number of things we continue to look at for new services in mobile. Last year we introduced QuickPay, and we thought that was a great next step for us. We continue to look at how we can leverage various aspects of the mobile device, while at the same time trying to keep it a really simple experience for customers. You don't want to complicate things too much. Sometimes people rush off and implement technology for technology's sake. Those things usually don't end up working too well, and we try to stay away from that.
What would you say to those who won't try mobile banking because of security concerns?
Acharya: Security is super important to us as a bank. We want to make sure our customer information is safe. We want to make sure our customers' information is not accidentally seen by someone else.
We take a lot of precautions across all of our channels. In the mobile space, from Day One, we've been extremely sensitive to make sure our stuff is as secure as can be. We do several security audits to ensure that what we roll out to our customers is as secure as the current environment supports.
Do you have any growth projections for your mobile customer base in the next year?
Acharya: We have a good trajectory. Our growth rates are really strong. I'm sure many years ago when the ATM channel was coming along, someone said, "How many people do we think will use the ATM next year?" At some point, they stopped asking because it became so normal and everyone uses it. To me, at some point with mobile banking, everyone is going to use it. It's going to be a normal way of doing your banking.