HARRISBURG, Pa. (11/19/15)--Two Pennsylvania credit unions were featured in a recent article in the Reading Eagle about mobile apps and technology in modern banking. The article looks at how the credit union movement has embraced mobile banking, citing a Magnify Money analysis that found eight of the top 10 mobile banking apps were provided by credit unions.
Tom Gosling, CEO of Bellco FCU, and Edwin Williams, president/CEO of Discovery FCU, both of Wyomissing, Pa., discussed the importance of mobile banking apps for financial institutions (Life is a Highway Nov. 17).
"We began realizing people don't want to use websites to bank anymore," Gosling said. "Now they can do their banking using our mobile banking app, which we introduced in 2012."
"The one thing we found out was that our members with smartphones were using whatever tools they had to browse to our website," Williams said. "Our phones have become our computers."
"[Members] are looking for more features, and by the end of this month we plan to have remote deposit also available, where customers can capture an image of a check with their smartphone to deposit funds," said Christian Ojeda, COO at Bellco. "We are also testing a bill payer feature and will integrate that into mobile banking by the first quarter of 2016."
Discovery FCU will offer new features soon, including a new "card valet," that allows users to turn their cards on and off with real-time alerts.
"What I like is that it's a fraud prevention tool for us," said Kevin D. Unger, Discovery FCU's vice president and chief operating officer. "As a financial institution, we are on the hook for losses when a card is compromised. With instant notifications to customers that their card has just been used, it can save the credit union a lot of money. It's beneficial all around."