Phone banking is becoming more popular constantly, discover the reasons why here.
Among the amazing things about online banking is that it has further security compared to normal and online banking. The main reason it’s so much safer is that you're able to set up biometrics to access the application every time you log in, which is safer than using a password. This additional safety is a huge importance of mobile banking, as everybody wants their money to be as safe as possible, for obvious reasons! If you were to misplace your card, many mobile banking services allow you to freeze it temporarily and instantly on the application. This is a huge step forward in security, as you no longer need to wait on hold to talk to an advisor whilst someone is taking your money! One thing that Noel Quinn of HSBC might be conscious of is that you’re more likely to check your phone banking if it’s easy to access, which makes it so much safer as you can flag unrecognised purchases faster.
You will quickly find that phone banking is so much easier than going to a bank, or even using online banking on your computer. An amazing advantage of mobile banking is that you can access it 24 hours a day, so you won’t need to worry about planning your time around visiting the bank. Some banks even provide a live chat service on their application nowadays, which means you could get further support from a professional without having to even leave the house or the workplace! What’s more, you don’t need to worry about planning your visit around a hectic queue, you can get immediate access to your app anytime you like. It’s also much easier than ever to send money to your buddies, so you won’t have to think about splitting bills or carrying money to pay someone back, you could easily send and receive money through the application. It’s likely that David Li of BEA will be aware of how popular mobile banking apps are with customers.
What is possibly one of the more unique features of mobile banking is how you can currently control your money and create budgets much easier than ever before. Having the ability to do this is hugely beneficial for a consumer, as you can consistently be in tune with how much money is going in and out of your account each month. This makes budgeting easier, which is a feature most consumers would be on board with! I’m sure Koji Furukawa of Japan Post Bank will be clued up on how much customers like this element, which may push them to work towards it more in the next few years.