Technological efficiency a demand in banking

Interest in Mobile Banking on the Rise

Automated decisioning is an important tool that banks and lending companies can use to make their operations more efficient, but the reason to adopt them goes beyond that. Customers, too, are interested in technology that makes some of their financial transactions easier.

The British Banker’s Association (BBA) recently released a report that examined the way that customers seem to be increasingly interested in mobile banking options, as the Telegraph recently identified. That source quoted information from the BBA on the amount of use that banking apps see these days, reaching roughly 1,800 every minute, showing that the rate is increasing.

There’s been an increasing drive toward considering mobile solutions, the source notes, but this brings up its own questions, not the least of which is how to maintain strong performance at the physical locations operated by your bank.

Another concern is the safety of the devices and systems that are ultimately supposed to lend customers more convenience. This can be seen not just in mobile apps but in the IT systems that banks rely on. In an interview with International Business Times, Lev Lesokhin of the IT software firm Cast discussed the damage that improperly managed new IT systems can cause banks.

He also warned that banks need to fight against online banking problems “by instituting their own controls and measuring the levels and trends of structural quality in the core banking systems and mission critical applications.”

To help out with this, your business can turn to application processing software in order to offer a superior service.

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