How Technology is Redefining Banking

Don’t let new technology leave you in the dust! Products are advancing faster than ever, and it is our job to keep up – or get left behind. Much of this technology is slated drastically change the way we go about our day-to-day-lives and activities. With so many new avenues changing, some people may become overwhelmed at the idea of becoming familiar – and eventually experts – with so much new technology. So when it comes to banking, we want to give you a peek on what new technology you really should be focusing on.

More focus on mobile and online

According to Pew Research, at least 51% of US adults bank online and 32% bank using their mobile phones. If you are not already using your mobile phone to bank, chances are you will be soon. Actually going to a branch to do your day-to-day banking is almost unheard of these days. Online and Mobile Banking has taken the top spot for daily banking needs.

While our branch staff loves to see your smiling face from time to time, we understand that these services are more convenient with busy and hectic schedules. After a few uses, most people are very comfortable using Online banking Services to do their banking.

Contactless payments

You’ve probably been hearing it a lot lately. Apple Pay. Android Pay. Digital Wallets. Contactless payments are already becoming a necessity for shoppers and merchants. They allow for faster, easier checkout and are typically more secure than carrying a physical card with you.

While we don’t see plastic completely disappearing anytime soon, most merchants will soon have the technology that allows for contactless payments.

 

ApplePay

Improved payment security

Apple Pay is not the only thing that supports better security for your information. 2015 has been the year of the EMV Chip Card. EMV stands for Europay, MasterCard, Visa, and the card includes an embedded microchip for added security at the time of transaction.

This is one of the most important technologies to be aware of since Chip Cards are essential in the protection against counterfeit and fraud.

Use these tools to your advantage! They are all designed to simplify procedures that we have been doing for years. Trust your credit union or financial institution to always keep you up to date on the newest technology and how to use it. Don’t get left in the dark!

chipcards

For more information on Apple Pay, click here.

 For more information on Chip Cards, click here.

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