The idea of heading to the closeby bank branch for banking services is becoming a thing of the past. Banks are changing the way customers can access banking services with large-scale digitization and wide-scale presence of mobility. Customers can now have the option of fulfilling all their banking needs through an iPad. In addition, banks are coming up with new concepts every day to replace their old brick-and-mortar physical branches. Here are some banks and other firms bringing us the next generation of banking:
Barclays is slated to equip its army of community bankers with iPads capable of performing banking operations previously confined to bricks-and-mortar branches. The new initiative is currently being trialed with 50 community bankers and specialists, including mortgage, premier, and business advisors across major cities. The service will be rolled out to all equipped Barclays Bank iPads nationally by the middle of 2015. The plan is to enable community bankers to set up branches remotely using just their iPad and Wi-Fi or 3G connection and carry out traditional branch transactions, including money transfers, changes to personal details, or account openings.
Leading Indian bank ICICI Bank has developed iMobile, a secure mobile banking application for iPads and other smart devices. iMobile offers a wide range of banking and informational services to take care of your banking needs. With iMobile, you can avail banking services from the comfort of your home. You can locate an ATM, stop or check the status of your cheque, order a checkbook, track your service requests, and more. iMobile employs advanced encryption technologies making it as safe and secure as internet banking. Moreover, no sensitive information is stored on the device.
TD Bank has set up a new branch using a one-of-a-kind concept, intending to try out new models for staffing and technology use. The new branch features iPads preloaded with custom software. The role of staff members is to assist customers in learning how to use services like mobile banking apps. The new ATMs set up inside the branch allow dispensing of bills and handling of commercial deposits as well.
PNC Bank has a portable branch concept with the staff, including only a single financial service consultant instead of a teller. The staffer helps customers with new accounts, personal loans, credit cards, and high-value services like home loans and investments. The staffer uses iPads to demonstrate innovative online and mobile services like PNC’s Virtual Wallet. The branch also features a smart ATM to allow customers to cash checks, deposit multiple checks or cash, and dispense $1 bills.
Umpqua Bank combines digital technology with a strong sense of brand. The bank’s San Francisco-based branch feels more like a contemporary store or upscale café than a bank branch. It features mobile concierges, iPads, interactive touch screens, outdoor seating, and a free loaner bike. The flagship branch in San Francisco has also been named “International Store of the Year” by the Retail Design Institute.
National Australia Bank
National Australia Bank has a Smart Store branch with iPads, touch screens, and other self-service technologies in an interactive blended format. The branch offers a range of intelligent self-service machines. For example, newly designed deposit machines can accept 50 checks or banknotes at a time. The staff members are equipped with iPads that are loaded with NAB apps to assist customers. The branch also offers a mobile demo bar as an experiment, featuring popular smartphones which give customers a walk-through of the registration process for internet banking.
BankMobile is a fee-free, branchless bank that has made waves recently for its campaigns targeted exclusively at millennials, seeking greater mobility and flexibility in the banking process. Adrenaline championed BankMobile’s full brand architecture by designing its identity, messaging, marketing strategy, website, and user interface for the BankMobile app functionality on iPad and other devices. With a vivid understanding of its target audience—money-minded millennials—Adrenaline imagined a progressive, youthful bank whose focus is less on traditional branch services and more on tangible lifestyle benefits, such as mobility, ease of access, and financial confidence.
GoBank is the first bank account designed from scratch to be opened and used on a mobile device. It enables checking balances, viewing transaction history, and transferring funds between accounts from iPads and other mobile devices. Owned by GreenDot, an active prepaid cards player in the US, GoBank has formed a national partnership with MetroPCS to distribute the GoBank mobile application across MetroPCS’s compatible Android device portfolio. It offers its products and services exclusively online or over the phone because it does not operate through physical branches.
Moven is a real-time mobile money tool that lets individuals spend money from their iPads or other mobile devices and provides instant feedback on their transactions and spending patterns. It works like a debit account that tracks users’ money for them instantly. Thus, it provides them with the information they need to spend, save, and live smarter. Moven acts just like a bank account with features like free account, free ATMs, transferring money to friends, FDIC-insured account, and ‘tap-to-pay.’ It can be used on any Android and iOS mobile device.
At Simple, an internet-only bank replacement, there are no fees and no minimum balance requirements. There are also no branches or paper checks. At Simple, customers still get a debit card, but the website and mobile apps help account holders track and manage spending in real time. Account holders put money into various categories, with some earmarked for spending and others earmarked for bills. Simple not only brings personal finance management right onto your iPad but also gives you the virtual banking experience.
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