Palo Alto, Calif., Aug. 6, 2024 –  A new research report from Branch, Finance and Insurance Industry Mobile App Trends, highlights the significant impact that mobile app investments have on finance and insurance organizations. The survey shows that 99% of senior executives and C-suite leaders in finance and insurance believe mobile apps play a crucial role in fostering customer engagement, yet 61% face resource constraints that hinder app adoption across channels.

The finance industry is experiencing a mobile revolution driven by customer demand, with app installs approaching one billion this year. Nearly all executives surveyed (98%) say their organization plans to add new in-app features within the next 12 months to stay competitive and emphasizes the impact apps have on customer retention. More than two-thirds (68%) strongly believe their mobile app plays a critical role in retaining customers, with over half (57%) citing customer retention as the primary goal for their mobile app strategy. Data also shows that in-app features significantly affect their bottom line, with eighty-five percent of participants stating investments in these features have a direct impact on their organization’s ability to reduce costs.

“Consumers’ increasing demand for mobile-first experiences is pushing organizations to innovate for a competitive edge,” said Sophie Frostbaum, senior business strategy leader at Branch. “Despite recognizing the benefits of app adoption, executives are divided on the best strategies to achieve them. Companies ready to tackle these challenges and advance their mobile growth should partner with experts who can help them understand user behavior and optimize their engagement strategies.”Key survey findings:

• Nearly all organizations (99%) plan to increase the number of mobile app downloads in the next 12 months. A majority (55%) ambitiously aim to increase the number of downloads by over half.
• Almost all executives (93%) agree that app users are more likely to engage with cross-selling efforts, such as promotions or adding new services.
• Ninety percent of executives saw higher lifetime value for app users, with nearly half (49%) reporting a revenue benefit of more than $50 per user.
• In order, the top in-app features that help reduce costs: live chat with service representatives, automated (AI) chat features, access to paperless statements, and self-service tasks.

For access to the full results, download the Finance and Insurance Industry Mobile App Trends report. To learn more ways that finance organizations can grow their mobile presence and tap into apps for acquisition, retention and increased conversions, download the Branch Financial Services Mobile Growth Playbook.

About Branch

Branch is the linking and measurement partner for growth-focused teams, trusted to maximize the value of their evolving digital strategies. World-class brands like Instacart, Western Union, NBCUniversal, Zocdoc and Sephora rely on Branch to acquire users, retain customers and drive more conversions.

Methodology

Branch collaborated with Banking Dive’s studio ID to conduct an online, invitation-only survey. 150 financial services and insurance leaders, director level and above, were surveyed in May 2024. At the time of this survey, these decision-makers were employed at financial services companies (52% of respondents) and insurance companies (48% of respondents) that offer a mobile app to their customers.

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PALO ALTO, Calif., May 21, 2024 /PRNewswire/ — Branch, the industry’s leading linking and measurement partner for growth-focused teams, today announces the release of Branch Advanced Compliance, a premium solution that provides enhanced security, privacy and data measures for customers in heavily regulated industries like healthcare. For over a decade, Branch has pioneered the development of privacy-first products and services that respect and protect end-user data. In alignment with evolving guidance from the U.S. Department of Health and Human Services, Branch Advanced Compliance offers enhanced security and privacy measures to help customers satisfy their HIPAA obligations.

“To remain competitive in today’s market, healthcare companies need to invest in innovative technology that drives consistent patient experiences while still safeguarding data and alleviating privacy concerns,” shared Irina Bukatik, VP of products, Branch. “Advanced Compliance is a leap forward for healthcare organizations that want to prioritize mobile app growth and user engagement while confidently navigating regulation requirements and meeting HIPAA compliance goals.”

The use of mobile devices and applications in the healthcare industry is steadily increasing as patients expect their healthcare information to be more accessible. However, a majority of surveyed patients (75%) are still concerned about protecting the privacy of their data.

The ability to provide patients with access to data while maintaining compliance is top of mind for healthcare executives and C-suite leaders. Eighty-seven percent identified shifting government regulations as a disruption to their business, and 70% reported that patient demands directly impact their firms’ long-term strategies. Meanwhile, over half (54%) of surveyed healthcare leaders recognized that having the right partner can help them navigate these complex industry changes.

With Advanced Compliance, Branch benefits leading healthcare enterprises by:

• Offering enhanced data privacy features to meet the highest standards of security and compliance for secure handling of Protected Health Information (PHI).
• Driving and measuring user engagement with reliable links that ensure proper and safe attribution within a protected data architecture.
• Minimizing cost to serve with streamlined mobile experiences that reduce the need for support tickets and high-volume customer service calls, thereby decreasing operational expenses.
• Formalizing commitment by signing a Business Associate Agreement (BAA), where Branch agrees to process certain limited individually identifying health information on behalf of a Covered Entity in compliance with HIPAA rules.

“At Branch, we measure success by our impact on our customers’ ability to grow their businesses,” said Paula Mantle, VP of marketing, Branch. “Being the first mobile attribution provider to offer a HIPAA-eligible solution is a testament to the industry-leading partnership and solutions Branch provides that empower our customers to create secure and seamless experiences for their users.”

Branch’s Advanced Compliance solution is available to enterprise contract customers seeking to comply with HIPAA regulations. To learn more about how Branch and Advanced Compliance can help drive digital user acquisition and make a measurable impact on your business, visit our website and read more on our blog.

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“Branch has always prioritized building a high-performing, award-winning organization and culture that attracts top talent,” said Mada Seghete, Branch board member and co-founder. “David’s wealth of industry expertise and experience as a strategic leader is a natural fit to lead the company into its next phase of growth.”

As an executive leader and marketing technology industry veteran with over 25 years of experience, David has a proven record as a scalable team builder and world-class operator at Adobe, Efficient Frontier, Yahoo! and Overture. Most recently he served as a strategic advisor and interim Chief Revenue Officer at Pantheon. He has also served on the Boards of Demandbase, Vantiv, Quantifind and JumpTap, along with Senior Advisory appointments at Redpoint Ventures, and TPG Capital.

“Branch has long been a pioneer of solutions that support evolving digital strategies to drive impactful growth for its customers,” shared David Karnstedt, Chief Executive Officer. “I’m excited to continue to raise the bar and lead this incredible team to expand the value we bring to customers and partners.” 

Additional strategic hires and appointments
Irina Butatik has been named VP of products to lead innovation and shape Branch’s product vision.

Rick Johnson has been named VP of finance to lead Branch’s financial strategy and operations.

Stephanie Herndon-Rasse has been named VP of customer experience to lead programs that nurture Branch customers’ journeys.

Mada Seghete, Branch co-founder, has been elected to the Branch Board of Directors. She joins other notable advisors and investors including Scott Sandell (NEA) and Zach Coelius (Coelius Capital).

About Branch
Branch is the linking and measurement partner for growth-focused teams, trusted to maximize the value of their evolving digital strategies. World-class brands like Instacart, Western Union, NBCUniversal, Zocdoc and Sephora rely on Branch to acquire users, retain customers and drive more conversions.

The post Branch Strengthens Leadership Team With Executive Appointments appeared first on Branch.

“At Branch, we believe that delivering a superior mobile experience is one of the most impactful strategies for companies looking to boost their business,” said Adam Landis, Head of Growth at Branch. “This year’s unprecedented number of submissions is a reflection of the pivotal role that mobile plays in today’s business environment. We’re excited to celebrate these winners and shine a light on how global brands are leveraging innovative mobile technologies to create world-class user experiences.”

The 2023 Mobile Growth Award winners are:

• Best QR Code Campaign — NBCUniversal Local
• Best App Adoption Campaign — END. Clothing
• Best Mobile Growth Campaign — Hallow
• Best Mobile Retention Campaign — Target (Australia)
• Best Ad Conversion Campaign — Baazi Games
• Best Social Engagement Campaign — Domino’s Pizza (Indonesia)
• Best Use of Personalization — Rakuten
• Best Use of a Strategic Partnership — Airship + Optus

“Whether it’s in an in-store or online environment, it’s clear that companies that are led by customer-centric insights and data are well positioned to improve across all facets of their business,” shared Phil O’Hagan, Head of Product at Sainsbury’s. “It was an honor to serve as a judge for the 2023 Mobile Growth Awards and review campaigns that demonstrated how companies are truly thinking outside of the box to add value for their customers.”

For companies interested in learning how Branch is helping businesses drive a measurable impact on digital user acquisition, read more on our website. To learn more about the Mobile Growth Awards and winners, visit our blog.

About Mobile Growth Awards
Branch Mobile Growth Awards recognize and celebrate brands that are making remarkable strides in the field of mobile growth. Winners represent innovative global teams that successfully leveraged Branch products to drive mobile growth. Submissions are scored by independent judges based on campaign creativity, innovative thinking, consumer value and results related to KPIs.

About Branch
Branch is the linking and measurement partner for growth-focused teams, trusted to maximize the value of their evolving digital strategies. World-class brands like Instacart, Western Union, NBCUniversal, Zocdoc and Sephora rely on Branch to acquire users, retain customers and drive more conversions.

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