Technology has evolved so much, even to the point where we can do nearly everything with our smartphones. This is what brings us to the discussion of mobile banking, which has become nothing short of useful in this day and age. However, there are certain things that you should know about this process ahead of time. If you'd like to learn more, you can start with these mobile banking pros and cons, courtesy of Bob Jain.
PRO - Mobile banking is nothing short of simple. One of the big perks of mobile banking is its ease of use. As a matter of fact, even if you're not the most tech-savvy person, you'll get the hang of it in no time. Before long, you'll be depositing checks with your phone's camera and checking your accounts with no problems at all. With an ever-growing focus on simplicity in technology, mobile banking is not left out of the equation.
CON - You won't be interacting with an actual person. One of the biggest perks of traditional banking, whether you're simply depositing a check or what have you, is that you get to interact with someone. This level of face-to-face interaction matters for many customers, and it's unfortunate that it's lost from mobile banking. Granted, this con will vary from person to person, depending on how much stock they put into face-to-face interaction. Nonetheless, it's a valid point that the likes of Bobby Jain Credit Suisse can bring up.
PRO - Mobile banking is secure. What's one of the biggest concerns that people have with banking? Security is one of the answers that will be repeated the most, which makes sense. After all, no one wants to feel like the information they input will be at risk. Fortunately, mobile banking apps are designed to be secure, as companies such as Bob Jain Credit will attest. In short, the risk associated with mobile banking is low.
CON - Mobile banking doesn't have as many features. Compared to traditional and online banking, it seems like mobile banking doesn't have as many features to its name. This is understandable seeing as how technology isn't quite there yet. It's also worth noting that more features will be added in due time. If there's a specific feature you need, though, you'd be wise to take your business to a traditional bank instead.
PRO - Mobile banking is nothing short of simple. One of the big perks of mobile banking is its ease of use. As a matter of fact, even if you're not the most tech-savvy person, you'll get the hang of it in no time. Before long, you'll be depositing checks with your phone's camera and checking your accounts with no problems at all. With an ever-growing focus on simplicity in technology, mobile banking is not left out of the equation.
CON - You won't be interacting with an actual person. One of the biggest perks of traditional banking, whether you're simply depositing a check or what have you, is that you get to interact with someone. This level of face-to-face interaction matters for many customers, and it's unfortunate that it's lost from mobile banking. Granted, this con will vary from person to person, depending on how much stock they put into face-to-face interaction. Nonetheless, it's a valid point that the likes of Bobby Jain Credit Suisse can bring up.
PRO - Mobile banking is secure. What's one of the biggest concerns that people have with banking? Security is one of the answers that will be repeated the most, which makes sense. After all, no one wants to feel like the information they input will be at risk. Fortunately, mobile banking apps are designed to be secure, as companies such as Bob Jain Credit will attest. In short, the risk associated with mobile banking is low.
CON - Mobile banking doesn't have as many features. Compared to traditional and online banking, it seems like mobile banking doesn't have as many features to its name. This is understandable seeing as how technology isn't quite there yet. It's also worth noting that more features will be added in due time. If there's a specific feature you need, though, you'd be wise to take your business to a traditional bank instead.
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