Banks and credit unions are starting to switch away from survival mode and focus on promising tech initiatives. So how will it benefit your business?
Depending on your bank’s plans, your firm could be on the receiving end of cutting-edge security, easier payment options, etc.
So what types of bank tech innovations should we expect to see this year?
According to Bradway Research’s Bill Bradway, the following “best bet” tech solutions are most likely to catch on among lending institutions this year:
• Online fraud detection and mitigation
• Online personal financial management
• Mobile payments
• Integrated multi-function branch application suite
• Integrated online banking/billpay/mobile
• Multi-channel fraud prevention, and
• Integrated enterprise risk architecture with risk solution tools.
If any of these tech solutions jump out as something your organization could benefit from, it may be a good idea to touch base with your bank. Ask if implementing the technology is on its to do list in the near future.