Millennials aren’t the only “digitally-savvy” generation anymore. In fact, smartphone penetration in the United States is expected to reach 230 million people in 2018. To put that in perspective, the US Census Bureau reports 325.7 million in population as of 2017.
The proliferation of personal technology has created a great deal of added new conveniences in our everyday lives – and a growing dependence on connectivity. With eighty-one percent of adults carrying smartphones and eight-four percent owning a computer, it is no surprise that online and mobile credit union applications have become a must-have. In addition to convenience, these avenues of digital account access provide a sense of security and control account holders have come to desire.
In the era of the smartphone, mobile banking has seen a considerable increase in use. Account holders who once depended on bank branches have started using their mobile phones and laptops for a variety of transactions. And it seems as if new payment systems are entering the market each week.