Financial institutions and home lenders are continuing to improve their mobile technology for the benefit of both employees and customers.
The mobile channel is the second-most preferred method for consumers to access their bank accounts, with 18 percent using the channel.
Included in the mobile channel are mobile phones; iPads and other tablet devices; and personal digital assistants, also known as PDAs.
Those were among some of the findings from
a survey of a thousand U.S. adults conducted in early August by the American Bankers Association.
“It’s no surprise that millennials and other digital natives are embracing the convenience of technology to conduct quick transactions.” ABA Senior Vice President Nessa Feddis said in a written statement. “Mobile banking is also a helpful real-time option for those who have a smartphone but not a computer.”
Computers are still the most-preferred method of banking, with 55 percent of users logging in from either their laptop or personal computers.
Other channels used to access bank accounts are branches (14 percent), automated teller machines (6 percent), telephone (4 percent) and mail (3 percent).
But the trade group recently warned about online fraud and recommended that mobile devices are kept up to date.
“Having the latest security software, web browser, and operating system are the best defenses against viruses, malware, and other online threats,” ABA said. “Turn on automatic updates so you receive the newest fixes as they become available.”
Among banking institutions, Providence, Rhode Island-based Citizens Bank recently said that
its mobile banking applications for iPhone and Android received the Javelin Mobile Banking Leader Awards for the third time.
The recognition was reportedly based on user ratings. Citizens said it earned an average customer rating of 4.1 out of a possible 5.
Parent Citizens Financial Group Inc. previously reported that the bank’s mortgage originations totaled $3.4 billion during the first half of this year.
StreamLoan issued an Aug. 19 announcement indicating that Alterra Home Loans has chosen its
platform to drive a new mobile initiative.
StreamLoan says its unique dashboard-visible workflow seamlessly connects the lenders, real estate agents and prospective borrowers.
The
platform is created by the homebuyer then shared with lenders when its time to submit a digital application. The application can subsequently be resubmitted to other lenders.
Other features include
communication between all of the professionals in the transaction through chat, enterprise workflow and enterprise content management. In addition, lenders can share underwriting guidelines and requirements effectively with borrowers.
Mortgage Financial Services has signed on for the Morf Playbook talent development and professional training platform on smartphones, Morf Media USA Inc. recently reported.
The lender will use the service to provide compliance and professional development training to its workforce and mortgage industry partners.
“Morf Playbook training on smartphones harnesses patented mobile technology with social feedback tools, audio and video training capabilities, and gamified mini quizzes to take compliance training to a new level of engagement,” the news release said. “It allows professionals to easily do their training on the go, in the train, plane or automobile.”
