Internet-enabled digital devices continue to equalize access to information and level the playing field in every industry including banking. Internet banking resulting from the internet revolution of the early 1990s paved the way for digital equality between big banks and credit unions. Fast forward 30 years, and by 2010, personal computers reached 75% adoption in the U.S. according to the Pew Research Center. With personal computers, for internet banking, all one needed to do was to turn on the computer, login, connect to the internet, start your web browser, go to your credit union’s web server, login, and a few clicks later you were able pay your bills in the comfort of your home. This internet banking revolution was only the beginning of digital transformation in banking.

In 2007, Apple’s iPhone lead the smartphone revolution that propelled digital devices and digital access even more readily available. According to Statista, more than 75% of adults in the U.S. population will have a smartphone by 2019, a mere 12 years later, equating to more than twice the rate of adoption compared to personal computers. Given that your smartphone is always on and always connected, with mobile banking you can move money and even deposit a check much easier and faster than when you use your personal computer. Mobile devices compared to personal computers are more prevalent – more than 75% of global internet traffic originates from mobile devices, according to Zenith.

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