How Mobile Tech is Changing the Banking Industry

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VERIZON IS HELPING REINVENT THE WAY BANKS STAY SIMPLE, FAST, SECURE IN A MOBILE WORLD


Dallas-area banks are shifting the way they serve customers in order to keep pace with an increasing base of mobile and smartphone adopters conducting transactions online. Banks no longer rely solely on brick-and-mortar branches, call centers or ATMs.

The shift to smartphones and mobile devices makes it easier to check bank accounts, deposit checks, transfer funds, or pay bills.

But mobile banking technology goes beyond just a cool-looking app. The entire process — from clicking an icon to receiving a confirmation message — must be simple, fast and secure.

A STARTING POINT FOR MOBILE BANKING

A common starting point for financial institutions implementing mobile banking technology is to enable wireless capabilities for ATMs and branch equipment, from top providers such as Verizon, for higher responsiveness and data management.

Additionally, mobile banking provides improved customer access, transforming the delivery capabilities of retail banking services through channels such as “pop-up” branches –- just-in-time services like card printer-ready ATMs –- and video chat.

The shift to mobile reliance means consumers need their mobile banking apps to work for them wherever they are in the world.

Verizon Wireless offers financial institutions a variety of mobile banking solutions so companies can generate revenue channels, satisfy customers and stay competitive. Giving customers an easy way to pay is how financial institutions stay on the fast-track to be ahead of competition, and when banks make transactions secure and easy, it wins over customers and builds longer-lasting relationships.

It’s also never been easier to reach customers, with wireless ATMs and mobile branches; it brings the bank to the customers, cutting costs to maintain permanent locations, landline and installation costs. And, the transition to mobile banking technology allows banks to observe customer preferences, meaning personal bankers and wealth management professionals can pinpoint customers’ interests and tastes. Because anytime, anywhere access is in demand with customers, it is vital that banks use secure networks to help protect against a data breach or fraud.

PROPER MANAGEMENT CAN CONTROL PAYMENT CARD RISK

Payment card risk is everywhere, and if financial institutions are not managing it properly, it will hinder customer experiences.

Verizon’s 2015 PCI Compliance Report highlights the need for banks to adhere at all times to the Payment Card Industry Data Security Standard (PCI DSS) because not being prepared for security issues creates additional costs and efforts.

Investing in additional capabilities that, if a breach should occur, will let financial organizations respond quickly and help mitigate the damage to its business and customers.

Financial institutions can stay ahead of this revolutionary shift to mobile banking by balancing security, privacy and ease of use.

Supporting all of these solutions behind the scenes is the largest and most reliable 4G LTE network. That’s why many Fortune 1000 financial service organizations trust Verizon’s high-speed global networks to deliver secure, reliable connections for mobile banking.

To learn more about Verizon’s mobile banking services and technology solutions, please visit our website.

Follow Verizon Wireless on Twitter @VerizonWireless.


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