Wells Fargo & Co. has added a Spanish-language option to its mobile banking application, building on the financial institution’s introduction of Spanish Text Banking last year, as it seeks to address this demographic’s close relationship with their smartphones.
Articles Tagged ‘mobile banking’
Marketers have been missing a potentially lucrative and viable opportunity to target the emerging demographic of consumers using mobile devices for financial services and payments, suggesting that these users must be understood more fully so that banks and financial institutions can garner more clients, according to a report from Phoenix Marketing International.
BMO Harris Bank is taking mobile banking to the next level by enabling consumers to withdraw money from an automatic teller machine using their smartphone.
Following a soft launch last fall, Bank of the West is rolling out scan-to-pay bill payment capabilities in its mobile application for customers at its more-than 650 locations, promising users can add a bill in about 30 seconds.
As mobile screen sizes continue to proliferate and consumers conduct more financial activities on these devices, phablets are becoming popular for banking, with use expected to grow by more than 100 percent, according to a new report from Carlisle & Gallagher Consulting Group.
Webster Bank is one of the first United States-based banks to leverage Apple’s Touch ID feature into its mobile banking application as it aims to drive user adoption with streamlined security features, proving that the appeal of fingerprint identification is growing.
Mobile-first banking is quickly gaining steam as big names such as Citibank and now Walmart jump onboard with offerings that combine on-the-go technology with low fees to appeal to younger and lower-income consumers.
With digital bill paying now more popular than paper checks, Citibank has launched a new type of banking account designed specifically for online and mobile bankers.
According to Javelin Strategy and Research, by switching just one customer’s in-branch deposit per month to the mobile channel, the average bank stands to save almost $50 per year per customer, adding up to $1.5 billion in cost savings for the industry.
Historically, augmented reality’s utilitarian use case in banking disappeared once consumers reached a branch, but Westpac New Zealand has extended the technology to support account management within its mobile app.