The calendar year 2015 is officially in the books and now it is time to look forward to what the future has in store. Banking and financial officials believe in the following 10 crucial facts to look forward to in the future in the banking and financial sector.
- Investment possibilities at the bank are not likely to grow
IRA’s and Health saving accounts are not likely to change is the prediction. Particularly when it comes to HAS’s, organizations could be missing the golden business opportunity said, Kevin Boyles, vice president of retirement planning provider Ascensus.
- Mobile payments are likely to continue as they are
Only 22 percent of the users used the mobile payment method in 2014 despite the fleet of ads showing their benefits mentioned a report. The larger retailers are implementing the method which might lead to the smaller retailers to incorporate these techniques.
- Merging of digital and branch experience
Banking on a phone and banking in a branch experience can be integrated as the mobile service expands, mentioned a report. For instance, a user can finish up the application that he started filling online and then realize the need for help at the branch.
- Chip card can come into play
Even if you have a new card there is a possibility that you didn’t have noticed anything in checkout. Well, this might change. The chip card technology might finally be ready for the prime-time. The wait is for the merchants to update their systems.
- Convenience fee might be charged by the bank
Despite the pressure from the public and regulators to keep the fees down the banks will find ways to add some extra charges. Accelerated payments and remote cheque deposit are topping the list.
To be Continued…