Mobile banking becoming more popular

Digital technology is becoming increasingly attractive for credit union members with technology such as Amazon’s Alexa voice recognition and commands growing in use. But mobile banking is reigning as the top interface for consumers in digital use. Mobile banking is being used by 41 percent of consumers and experts see a ripple effect to other […]

Digital technology is becoming increasingly attractive for credit union members with technology such as Amazon’s Alexa voice recognition and commands growing in use. But mobile banking is reigning as the top interface for consumers in digital use.

Mobile banking is being used by 41 percent of consumers and experts see a ripple effect to other financial services, according to an article in CU Times.

Tucker Stovall, director of digital solutions for Symitar said he sees a preference among consumers for using mobile first for transactions and, the article said, “Stovall suggested there is increasing depth and sophistication of financial transactions available from mobile phones, such as biometric technology development and real-time behavioral modeling.”

Read the full article here.

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The League of Southeastern Credit Unions & Affiliates represents 342 credit unions in Alabama, Florida and Georgia, with a combined total of $118.63 billion in assets and more than 10.1 million members. LSCU & Affiliates provides legislative and regulatory advocacy; education and training; cooperative initiatives (including financial education outreach); public messaging; information services; and business solutions.

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