Posts Tagged ‘Drives’

New Technology Drives Advances In Banking Services

July 1st, 2021

Banking services have seen a real revolution in recent years, with advances to atm software, online services and banking technology sprinting forwards.

As technology is becoming ever more sophisticated, people are becoming increasingly savvy when it comes to their finances. No longer do people need to visit a bank teller or wait until a paper statement drops through their letterbox if they want to know about the state of their bank account. Instead, people have more ways than ever to enjoy instant access to details of their current and savings accounts – whenever they need them most. Ranging from the latest in mobile technology to the newest offering from bank ATMs, today’s bank customers have more control at their fingertips than ever before.

In the early days on online banking, many customers expressed anxiety about things such as security. They were not convinced that their money would be safe if they logged into their accounts from their home computers, and their fears were understandable at the time. However, a selection of different security solutions from banks have assured that a huge number of users are now happy to control their finances with the help of digital banking. This allows customers to log into their bank accounts, switch money between different accounts and even do things such as set up direct debits and standing orders online.

What’s more, the recent deluge of smart phones has meant that many customers are not only able to access their bank account from their home computer – but they are also able to make payments or check figures on the go. Many of today’s smart phones have all the functionality needed for people to log into digital banking from their handset. Some banks have even created apps that are designed specifically to make it easier for people to interact with their bank accounts while on the go.

ATM machines have also had a drastic overhaul in recent years, and are now often able to offer customers an immersive and comprehensive experience without having to go into a branch of their bank. Choosing the level of functionality any single cash machine needs to offer depends largely on its location, but many banks have found that by strategically choosing high-end machines in areas they don’t have a local branch, they are able to keep their customers happy. From depositing money to receiving bank statements, cash machines offer many of the services that can’t be found online, but they can save customers from having to queue to speak to a teller.

For banks to ensure they are able to keep up with the saving and financial habits of the younger generations, they will have to continue investing in the new technology that helps them take care of their money. From an app for the latest smart phone to clever and intuitive ATM software, banks should be smart about where they turn their attention if they want people to turn to them with their money.