Besides convenience, mobile payments offer gateways for hackers to grab valuable info. David Lott of the Federal Reserve Bank of Atlanta shares how banks and consumers can mitigate these risks.
Bankers may dismiss digital currencies like Bitcoin as a serious challenge, but what if this is the disruptive threat that goes mainstream?
In today’s inverted world of bank accounts, consumers can earn higher yields on online checking accounts than on savings or business accounts.
Since banks’ mobile remote deposit capture is usually a zero revenue service, banks need to improve their efforts to reduce operational costs.
Best practices for mobile remote deposit capture include integrating into existing mobile systems, prequalification of customers and social media-based marketing.
Whether they fly solo or with partners, financial institutions need to begin placing their bets in the mobile wallet game.
Mobile wallets can provide a big win for banks if they base their offerings on the key principles of utility, partnerships and the customer relationship.
For an enthusiastic but still-small segment of customers, mobile check deposit is a winning innovation.