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GridPad Tablet Computer
In 1989 the first successful tablet computer was introduced by GRID, and developed by Jeff Hawkins. For the companies that incorporated the GridPad, it gave them the advantage of mobility allowing the customers to be serviced or attended to much faster and allowed for the customer to not have to stand in line for assistance. -
Bill Pay
In 1994 Bill Pay was introduced by some banking organizations to allow for customers to pay their bills online instead of the traditional means of writing checks and mailing them out to the account holders. This eventually became available not only from traditional desktop computers but on mobile banking as well. -
PayPal
PayPal was first introduced as Confinity and gained recognition due to its user-friendly money transfer service. PayPal made a huge impact because it took into account the customer experience and made transferring money very easy. The long waiting periods of transferring money was not working for the customers. -
Mobile Banking
In 1999 mobile banking was introduced on the SMS platform, but it wasn't until 2011 that a fully functional application was available. Although It was only available on the iPhone, it was not long after that apps were made available for Android and Blackberry devices. Banks that implemented mobile banking had an advantage over other banks by catering to customers wants, ease of use and faster service. -
Digital Check Clearing
With the implementation of the Check Clearing for the 21st Century (Check 21) Act of 2004, banking customers were now able to take a digital photo and transmit to banking institutions in order to deposit their checks electronically, eliminating the hassle of going to the physical brick and mortar locations. It also minimized the use of paper and again gave the customer faster service. -
Bitcoin
Introduced in 2009, Bitcoin changed how people looked at currency. With the explosion of social media and the global financial crisis of 2007-2008, Bitcoin found its place. Bitcoin is not owned by anyone nor does it have a central bank. It is a decentralized digital currency; which works around peer-to-peer technology. It's advantage is complete control over a person's money and it is protected with military grade cryptography. -
Mobile point-of-sale devices
2010 saw the emergence of mobile point-of-sale devices, such as Square, where businesses could plug in a small swipe device to a mobile phone or internet enable tablet to receive payment for goods. Enabling small businesses to accept non-cash payments without the hassle of using traditional banking machines and high rates. -
Facial Recognition Technology
In 2001 facial recognition technology began to be used for security at an airport in Panama. Making it a great asset for banks that want to add high level security for their customers at drive-thru automatic teller machines. -
EMV Chips
In 2015, EMV (Europay, Mastercard, and Visa) chips, were introduced to help secure consumers from certain types of fraud by using tokenized technology. The technology proved that still more secure methods are needed. -
User-friendly onboarding applications
User-friendly onboarding applications are applications that a give a bank the ability to sign-up new customers online much faster than traditional walk-ins. As always giving the customer what they want; which often includes easy and fast service is paramount.
