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Consumers Can Switch Banks In Under A Minute With Smartphone Cameras

Wednesday, September 18, 2013 - 7:38 AM
Using only the camera that comes standard on today’s mobile devices, people can now open new bank or credit union accounts in less than 60 seconds. It’s hard to imagine a system that can get any easier than this. Mobile Photo Account Opening is going to shake things up. It’s not often the banking industry sees a major development come along, but this is one of them.

Consumers Can Open Checking Accounts With Smartphone Cameras
4
ShorebreakShorebreak2,381 posts since
Apr 6, 2010
Rep Points: 12,717
1. Wednesday, September 18, 2013 - 8:46 AM
What about those of us who only have "Stupidphones"?  I don't have any idea what a so called Smartphone is.  Must be just for smart people.  I would never entrust my finances to be handled through some new gadget phone system.  Phones like computers break down.  I love being able to check my accounts over the computer to make sure no one is having a "play day" with my accounts but other than that, it's off to the bank I go so I can face a human and not a piece of aluminum pretending to be a human.
2
paoli2paoli21,149 posts since
Aug 10, 2011
Rep Points: 5,128
2. Wednesday, September 18, 2013 - 9:14 AM
Banks large and small are racing to offer their customers mobile banking, smartphone apps, tablet apps and services including mobile deposit of checks and bill payment. Bank of America (BAC), JPMorgan and other large banks have said the increasing popularity of these services helps them cut costs while increasing customer satisfaction.

"We're now seeing customers choose to deposit checks using mobile technology 10,000 times a day, which saves us about $3.88 per transaction versus a deposit at the teller window. It is millions of dollars a year in difference," PNC's Demchak said last week.

http://www.americanbanker.com/iss...7441-1.htm
3
ShorebreakShorebreak2,381 posts since
Apr 6, 2010
Rep Points: 12,717
3. Thursday, September 19, 2013 - 6:14 PM
Banks large and small are racing to offer their customers mobile banking, smartphone apps, tablet apps and services including mobile deposit of checks and bill payment. Bank of America (BAC), JPMorgan and other large banks have said the increasing popularity of these services helps them cut costs while increasing customer satisfaction.

"We're now seeing customers choose to deposit checks using mobile technology 10,000 times a day, which saves us about $3.88 per transaction versus a deposit at the teller window. It is millions of dollars a year in difference," PNC's Demchak said last week.

http://www.americanbanker.com/iss...7441-1.htm

Sounds like reward banking, for the banks.
1
MikeMike327 posts since
Feb 22, 2010
Rep Points: 875
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