The future is bright, and the future is digital. The development of new technologies is affecting nearly every aspect of our everyday lives, including our banking habits. Smartphone users are becoming accustomed to having a mobile wallet at their fingertips and sending money digitally to family members and friends. Here’s what you need to know about emerging trends and the future of mobile banking.
Trends in Mobile Banking
Voice-automated technology has skyrocketed in popularity because of smart home devices. Companies like Samsung and LG have developed additions to their smart refrigerators that allow users to purchase groceries using voice commands. As part of the future of mobile banking, smartphone users can expect to see an increasing implementation of voice-activated payment features in applications offering in-app purchases.
The cardless ATM feature is another addition to mobile banking. It provides a greater level of security than traditional ATM cards. Whereas ATM cards can easily be lost or stolen, smartphones have integrated security features such as biometrics and passwords.
A cardless ATM feature can be implemented in several different ways. Some banking apps generate a unique code that users enter with their PIN, while others use the phone’s camera in the app.
A significant trend for the future of mobile banking is the development of spin-off mobile banking apps. As society becomes increasingly more digital, so does banking. Banks use these spin-off apps to offer stand-alone services. For example, a popular spin-off app is Momentum by Fifth Third Bank. This app rounds account holders’ purchases up to the next dollar and uses the change to pay down users’ student loans.
For banks that want to get ahead in the world of mobile banking, Helios is the tool you’re looking for. Today’s account holders are increasingly engaged with their smartphones, and they’re searching for the best mobile banking apps to help them manage their finances. Helios allows you to provide your account holders with the intuitive experience they want. The interface is simple, and it has customizable features to meet each account holder’s needs.
Find out how Helios can set you apart from the competition in mobile banking.