Published in CU Tech Talk Special Roundtable Section in May 2014
We are on the verge of the next technological leap in mobile banking apps. The computing power, hardware features, and improved network connectivity of today’s smartphones will soon provide the inspiration and capabilities to drive new sets of features most people haven’t even imagined. Voice recognition, super high resolution cameras, and fingerprint readers are enabling better security, document capture features, voice commands, and even facial recognition for users and mobile apps. Where will this become apparent? Everywhere- from car lots to real estate lending to new member on-boarding and Siri-like research requests.
Not only will you see this type of innovation on the member-facing side of mobile apps, but expect to see it with enterprise applications that are used everywhere from the back office to the teller line to onsite wherever the member happens to be. The financial institutions that are able to capitalize on the emerging potential of the next generation of mobile devices will win the next war in growing both membership base as well as wallet share. The secret sauce is packaging new features in a way that demonstrates the value to the end-user not only in terms of added convenience and smoother user experience, but wrapped in a layer of security that encourages adoption and trust in the new technology.