Considering that digital banking mobile applications have only been around for a little more then 10 years is amazing to say the least. Thank you iPhone!
Now we have a multitude of Digital Banking Platforms such as Q2 Banking in Austin, Texas and Alkami Technology in Plano, Texas.
These companies are making mobile banking so easy to use that my grandparents use the applications with ease!
But what about the future of banking? As the next generation comes to age (God help us) what are Banking software providers going to do next?
Personally I think integrations are the key to the future. There are a lot of integrations now, but the process is a little less then seamless.
Apple has done a great job at integration with the latest iOS TV app. There app pulls in all of the stuff you watch, curates it for you and allows you to watch almost anything right from there app.
Now if banks could do this, it would be a huge step ahead.
There are apps out now that can pull in your external accounts, such as banking balances, credit card balances and most bills you may have. Which is great, but would be even better if this was native to banking apps.
Yes, banks have bill pay … but it’s shit. They are still sending out paper checks to pay your bills. It’s 2019, that’s not going to cut it.
Wouldn’t it be great to be able to pull in ALL your bills say into your Capital One account. When you login you would see all your due dates and have the ability to pay straight from your app, NOT send a check.
Like I said, there are 3rd party apps that you can pay your bills with, but it’s not a seamless process… and then there is the issue of Security. That’s a while other subject.
I have used a lot of banks, and there apps. I currently am at a Credit Union that uses Alkami Technology as there Digital Banking Platform, and it’s great. Very easy to use and navigate, definitely “Grandma” friendly. They use all the latest integrations and you can link external accounts, such is great.
Hopefully in the future we will see more seamless integrations in all DigitaL Banking Solutions native banking apps!