Nowadays, way more individuals do their banking online than in a branch, for an extremely great reason.
A newer feature of online banking which has come about in recent times is customers having the ability to manage their money from their mobile. Once companies realised the developing importance of e banking, they quickly decided that this function had to become accessible on mobile devices. This makes life even easier for customers, as they do not even have to be at home with their computer to manage their money, they can do it whilst they’re out on the town. Along with this, it’s much more secure to log into mobile banking, as you can now use biometrics to enter the app in place of a code. Being able to log into the application with just your fingerprint is also an awful lot easier than having to remember a password, so customers are more secure, and their life is made easier! The main shareholder in Santander possibly knows how much more protected banking has become since these additional security features were released on phones.
One amazing element which is accessible on all different types of online banking, is that you can send money to buddies and family much easier than previously before. Back in the day you would have to recall to take cash to pay a friend back, and dividing the bill at the restaurant would always be a chore. Currently, this can be done in a moment from either your application or online banking, so there are much less awkward moments around having to pay for things. This is a element that one of the shareholders in Wells Fargo will know has great popularity.
Among the great features of online banking which has altered the way consumers can manage their money is having the ability to instantly see their purchases, whether this is on their statement or from a notification. As you can get instantaneous alerts for your payments with certain banking institutions, this means you can see any unauthorised purchases in an instant and flag them before it is too late. This is one of the greatest safety benefits of online banking, as it's much easier to monitor fraudulent activities on your account than it has ever been before. In the past, you would need to wait to read your bank statement at the end of the month, and attributable to the big range of transactions, you may miss one that wasn’t actually you. Along with all of this, it is less of a challenge to keep tabs on your purchases, making cost management simpler than ever! It’s likely that the activist investor in Bank of East Asia will be aware of how much this feature has driven down fraudulent activity in recent times.