January 25, 2016

2016 Banking Trends

Based on discussions with financial and banking experts, U.S. News has identified what they believe are the top trends in the banking industry for 2016.  

According to the article, this year the banking industry can expect to see:  
  1. a reduction in branch visits, as more people will be doing their banking online, on their phone, or at ATMs in 2016;
  2. the integration of in-branch and mobile banking;
  3. an increase in the use of mobile technology in the branch, such as self-service kiosks;
  4. a modest increase in savings account interest rates;
  5. fees for convenience, such as remote check deposits and expedited payments;
  6. that online banking will remain popular; 
  7. an increase in the use of mobile phones to make payments; and
  8. an increase in the use of chip cards instead of those with magnetic strips.  

Click here to read the full article.