What’s the next big thing you can expect from your bank?
Business to Business Automated Clearing House (ACH), Person to Person Automated Clearing House (ACH) and variations of these types of transactions will continue to grow. Individuals and businesses like the security, speed, convenience of ACH and the knowledge that the money is being transferred and bills are being paid.
Mobile Banking is going to be a "game changer." It already allows a customer access to his or her account quickly through a fast-loading app on a smartphone, and mobile banking is convenient for monitoring accounts and moving funds. Mobile Banking will eventually include Near Field Communication (NFC) Chips, allowing users to make payments with their smartphones instead of carrying credit cards.
Banks are now offering their customers a convenient way to deposit checks from the comfort of their own offices using a Remote Deposit Capture machine. The future of banking will allow customers to make check deposits through their smartphones via Mobile Remote Deposit Capture. This product will change the dynamics of traditional bank lobbies, further reducing walk-in traffic.
The evolution of banks will provide all of us with increased convenience that will save time and money.
First Bank & Trust Company, one of the top community banks in the United States, is a diversified financial services firm with office locations in southwest Virginia, northeast Tennessee, and the New River and Shenandoah Valleys of Virginia. Financial objectives are addressed by offering free checking products for personal and business accounts, and assessing lending solutions managed by mortgage, agricultural and commercial lending divisions. Comprehensive financial solutions are available through trust and brokerage service representatives. For businesses, First Bank & Trust specializes in business loans, business credit, and business finance.
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Kelly Kendrick, Assistant Vice President, First Bank & Trust Company, is a client columnist for Handshake 2.0. First Bank & Trust Company is a client of Handshake Media, Incorporated, the parent company of Handshake 2.0.