bankingciooutlook

Major Mobile Banking Trends for 2020

Banking CIO Outlook | Thursday, September 17, 2020

Voice recognition and voice-activated commands are already a common thing in society with the use of smart technology. However, this trend has found its way to the banking sector.

FREMONT, CA: With the massive shift to digitalization, mobile banking has taken the financial world by storm. Mobile banking offers accessibility, specifically enabling consumers to conduct banking activities on mobile phones or any other devices as per their convenience. Besides, the addition of automation in processes provides customers with more resources available to clear their doubts and bolster their trust in mobile banking.

Let us look at some of the key mobile banking trends:

Top 10 Mobile Banking Technology Solution Companies - 2020Voice-Activated Commands

Voice recognition and voice-activated commands are already a common thing in society with the use of smart technology. However, this trend has found its way to the banking sector. For instance, customers can utilize voice recognition as another means for two-factor authentication, which is one way to access their accounts securely.

Additionally, with the utilization of voice commands already used by customers, they can feel comfortable and easily understand its role in banking services.

Automated Assistance

Automated assistance offers customers access to answers for many banking questions. Smart bots and automated assistances are twice as fast as live representatives for the customers. This trend is expected to become more prominent in the years to come.

It will help businesses save time and provide better service to customers. If any customer does not feel comfortable with automated assistance, then they can be transferred to a live agent.

Innovative Apps

Through the rising use of innovative banking apps by both digitalized focused banks and traditional banks, there are multiple options for customers to conduct banking anytime and anywhere. This offers customers more flexibility and makes it easier for them to carry out banking transactions without waiting for standard banking hours.

See Also: Top Chatbot Solution Companies

Weekly Brief

Read Also