Friday, June 14, 2024

10th Anniversary of Mobile Banking Apps

In May 2011, the Royal Bank of Scotland allowed customers to manage their banking transactions on their mobile phones. Fast forward to 2021, mobile banking has become commonplace and 76% of people in Britain regularly used online banking apps in 2020, whether it be through their traditional bank or a digital-only bank.

Regardless of its popularity, there is much more that could be done to integrate mobiles with modern self-service digital banking, according to Mark Aldred, Banking Specialist at Auriga:

“More work and greater ambition is needed on how smartphones can replace debit and credit cards including for authentication on self-service devices, transforming the ATM infrastructure and the way customers interact with their banks on a larger scale. Card-less access via smartphone can also be a key weapon in the war against ATM cyber-attacks because the customer doesn’t insert their debit card or sensitive information into a potentially hacked ATM. But the value of mobile and ATM interactions is more than just about security and it can make self-service banking more accessible too.”

People In This Post

Companies In This Post

  1. Doha Bank and Mastercard Announce Long-Term Strategic Partnership to Shape Qatar’s Payments Landscape Read more
  2. eBay Launches Venmo as a Payment Option Read more
  3. CRIF Completes Bond Issue With Another US Institutional Investor Read more
  4. Payzli Announces Strategic Leadership Restructuring to Accelerate Growth Read more
  5. Bank for International Settlements and Bank of Canada launch BIS Toronto Innovation Centre Read more