6 Hottest Trends in Banking Page 2

  • Grace Noto
  • November 10, 2016
  • 0

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2.Mobile Banking Continues to Advance

This will probably be a trend until all of the banking Old Guard (from paper checks to EMV chip cards) has gone gentle into that good night–and then it will be replaced by wearables–but mobile continues to make inroads across the world, especially when juxtaposed with the less than quick global adoption of traditional banking methods. This means it’s still a trend–and one of growing importance for those financial institutions that want to keep up with consumer needs. In 2016, 95% of the world lived in an area covered by a mobile-cellular signal (though, granted, that is not the same thing as having a smartphone), and for the first time in history, mobile browsing exceeded that of desktop browsing, with a proportional bump in mobile shopping. So what does that mean for banking in 2017? Well, can your consumers pay, shop, transfer, and deposit through mobile? If not.. might be best to fix that quickly. 86% of millennials already use mobile banking, and the other generations aren’t far behind.

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