Today technology is read almost everywhere and banking is not an exclusion. People find more convenient to use their mobile application or internet site rather to go to the bank office.
Distributed Payments Many banks are allowing their customers to access accounts on their smartphones using fingerprint recognition technology. People can pay for something with just the flick of finger these days. Some bank said that the feature would be available on the iPhone 5s, 6 and 6 Plus.While Apple insisted that TouchID was secure, it said it was not a total replacement for traditional security measures and was meant to make unlocking the phone more convenient. In a similar vein, the banks have now said they wanted to make it « even easier and more convenient for customers ».
We used to have boring transactional statements, but many banks are bringing transactions alive by integrating features and apps with other plug and play services, like Google Maps, Facebook and Instagram. An example of brining things to life is the Moven app, which alerts the user when they’re spending and getting above their budget limits by breaking the glass on their phone.
There are a few gimmicky robot services out there, particular in Japan where robots replaced tellers (I thought we had done the same in the UK until the teller moved and I realised then they were human), but it’s not just robo-advisors that are taking off. After all, take a look at UBS who offer a real-time portfolio analytics services on a personalised basis to all of their high net worth clients through IBM’s Watson (DBS do the same).
This IBM video shows how the technology works.
Tinkoff Bank story
This article will speak about Russian first-in-time completely digital bank – Tinkoff
This banks do not have offline offices , where customers can fill in an form for credit card or assurance. This bank works online. It means that potential customers can fill in an easy form on the site within 2 minutes. After this client will receive the credit card by post and can easily access of all services which Tinkoff provides: credit cards, debit cards, prepaid cards, cash-backs, assurance, professional banking and so on.
Tinkoff is one of the top credit card issuers in Russia without having offline officers and ATMs. It proves the fact that the digital banking is future which is near us.
The internet site and well developed mobile application replace physical offices
Today, Tinkoff is the best digital bank in Central and Eastern Europe: