Understanding Modern Banking and Technology

Front

What has had a major impact on how people manage their money today?

Back

The development of technology and changing lifestyles.

Front

What do customers expect from their bank accounts?

Back

Access 24 hours a day and the ability to do money transfers and payments online.

Front

What are some new technologies that have changed banking?

Back

Online banking, mobile phone apps, mobile payment systems, text alerts, and contactless cards.

Front

What percentage of Americans prefer digital channels for banking?

Back

About 62%.

Front

What is one advantage of digital banking?

Back

It is fast and simple.

Front

Where do many people do their mobile or internet banking?

Back

In front of the TV, at work, in bed, and while commuting.

Front

What percentage of smartphone users in the UK used a banking app in 2017?

Back

Over 50%.

Front

What is the most popular use of banking apps?

Back

To check account balances.

Front

What other activities do people do with banking apps?

Back

Transfer money between accounts, make peer-to-peer payments, and pay bills.

Front

How has the rise of mobile banking affected internet banking?

Back

The number of transactions via computer has fallen slightly, but internet banking is still popular for larger transactions.