5 Mobile Banking Innovations to Watch
When Texas bank USAA introduced mobile remote deposit capture in 2009, nobody knew how big the tool would get and how fast. But ask credit union mobile banking experts today for the defining moment in the niche's brief history and all signs may point to MRDC.
That's because the mobile tool potentially lets users do something they could not do quickly or easily with online banking, some insiders say. For now, deposits via MRDC are bigger than deposits at ATMs. A growing number of financial institutions are on the prowl for the new tool that may bring in that next big wave of mobile banking users with some of the larger ones leading the way.
1. Virtual Assistants
“I can guarantee you it won't be long before a Bank of America rolls out a virtual assistant,” said Brett Wooden, senior vice president of marketing and innovation at the $192 million Cy-Fair Federal Credit Union in Houston.
“The mobile banking app is very impersonal. Everybody gets the same. But you already see the big banks moving towards a next gen app that will be highly personalized for each user,” said Ido Ophir, vice president of product management at Personetics Technologies, a White Plains, N.Y.-based firm that develops apps that predicts customer behaviors.