People Can Change—So Can Digital Banking
If you haven’t embraced digital banking yet, here are four reasons why it’s on the rise!
For years you’ve been hearing about the speed and convenience of digital banking. If you’ve been hesitant to make the switch, now is the perfect time. Not only has the technology come a long way, increased security features and improved ease of use have made digital banking the preferred choice to manage your finances.
Did you know?
As of 2022, 78% of U.S. adults prefer managing their money through a mobile app or website.1 We’ve also seen a huge increase in mobile banking, with 43.5% of Americans choosing it as their primary method for account access (up from only 15.1% in 2017).2
Here are four reasons digital banking is on the rise:
More institutions offer comprehensive mobile apps
Not all financial institutions have been as proactive in the mobile space as Mountain America. In the past, many apps offered only basic features like account balances and bill pay. Now, it’s common to see banking apps packed with mobile deposit, transfers and more.
The Mountain America app is a cut above thanks to these additional features:
- Card manager—Freeze your debit or credit card, set PINs and view full card details, even before you receive a physical card.
- Credit Score Plus—Access your credit score for free.
- Alerts—Receive notifications about balances, account activity, loan payments and cleared deposits.
Opening accounts digitally is easier
Until recently, your options for opening accounts digitally were limited. Except for a handful of savings and checking-related accounts, you needed to visit a branch for most account openings. Recent technological advancements and the pandemic accelerated the transition to digital. Now, you can open a variety of accounts without leaving the house.
Consider opening these accounts through our mobile app or online banking:
- Certificate—Our certificate rates are still sky-high!
- MyStyle® Checking—Receive a suite of extra benefits, such as rewards, mobile phone protection and loan rate discounts.³
- Rewards credit card—Earn rewards points on every purchase, then redeem your points for things like travel rebates, gift cards and event tickets.⁴
- Home loan—Buy, refinance or tap into existing equity with a low-rate home loan.
Transfers are faster and more simple
Moving your money between accounts has never been easier. This includes making transfers within the same financial institution—for example, from your checking account to an existing money market. You can also send money from one bank or credit union to another.
At Mountain America, you have the freedom to transfer funds wherever you do business:
- External transfers—Move money between your Mountain America account and accounts you have at other financial institutions.
- Quick Payments—Make Mountain America loan payments from a checking account at another financial institution.
- Security and fraud detection have improved
Arguably, the biggest deterrent to faster digital banking growth has been concerns about safety. Consumers haven’t fully trusted the security of mobile banking apps.
As a Mountain America member, you can enjoy peace of mind knowing our digital banking platform offers the following safety features:
- Built-in encryption—We use advanced encryption technology to keep your data private.
- Multi-factor authentication—This feature adds another layer of security in the form of a code sent via text, email or authenticator app.
- Alerts—Be notified of suspicious activity in near-real time.
- Biometric login—Simply scan your fingerprint or face to log in to the mobile app. It’s faster than entering a password—and more secure.
Kelly Albiston, chief technology officer at Mountain America, shares, “While speed and convenience are high on everyone’s list, we know security for our members has to be the top priority. From bot detection to advanced behavioral biometrics, Mountain America invests in technology to continually improve our secure digital banking experiences.”
Download the app through the App Store or Google Play.
Log in to online banking.
- Forbes Advisor: 2022 Digital Banking Survey
- Bankrate: Digital Banking Trends in 2023
- Terms, conditions and exclusions apply. Some benefits require no-cost registration/activation. Loan rate discount valid on select new loans only.
- Loans on approved credit. </small>
