Banks are adapting to the rise of consumer pressure to ensure they make things as convenient as possible for them. Businesses are also recognising it as a way in which it can actually boost their productivity when it comes to running the finances of their business.  If mobile banking isn’t something that you have already included as part of your 2018 business strategy – these trends may change your mind.

Mobile Bill Paying

Nobody wants to have to go to a brick and mortar bank to have to make payments – it’s much easier and less time-consuming to do these things on the go.  Mobile banking apps allow for you to do this, so you could even pay your bills and ensure your invoices have all been paid in on the go. You can even centralise your business process if you are a larger company by allowing subsidiaries or other relevant team members access to this.  Look at the linked article for some stats on the growth of mobile banking in general.

You can Now Get Text Message Alerts

On some mobile banking apps – you can also get options to receive regular text message alerts straight to your phone.  This could be information such as checking your account balance, viewing your recent transactions or transferring money between your accounts.  You can do all of this just by sending a text from your phone. You can click here to look online at BB&T for more information on their text messaging functionality on mobile banking.

Manage your Debit and Credit Cards

There are some mobile banking apps that also make it easier to manage the cards that you have with them.  This applies to both debit cards and credit cards. This can include things such as adding in spending limits, or else take them off, activating and deactivating cards, get information on any purchase made in real time, and restricting certain transactions.  This gives you great insight and control over your finances that you wouldn’t previously have on the go.

Your Banking Environment is Safe and Secure

Many people see this as a barrier to mobile banking – but actually mobile banking can add security to make you feel even more safe.  When creating an account on a mobile banking app – you will notice that they have incredibly strong password requirements – and there are lots of different authentication methods that are often required such as fingerprints.  You can also assign control as to what each user could do to make sure permissions are managed, and banks also monitor the activity on these, so they can easily spot any strange activity. If you haven’t already decided to make use of mobile banking when it comes to monitoring your finances – then this may be something that you want to look into now to boost productivity in your business.

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