Technological innovations in banking service

What I wrote in the first post I had finished banking and accounting, that is why I decided to write a new post concerning technological innovations in banking sector. The inspiration to write about this subject were two films. First of them describes the vision of Commonwealth Bank for 2013 and and their plans how to improve the customer service to fulfil the growing needs of their clients. Another one presents Visa's idea for the pack of applications for current mobile phones.

Commonwealth Bank released a film that show us the vision of future banking. As we can see on the film taking a credit and making decision about buying a house or a car will be possible without going to a bank, preparing documents and signing them. All the way of taking credit, it means contact with consultant, reading documents, signing an aggrement will be availible on your mobile phone.

On the other hand Visa decided to create a new service for almost every type of mobile software that are commonly used in current cell phones, such as Androids, IPhones, Symbians and Windows Mobile. This applications will turn our mobile phone into credit card and will allow us to settle payments (both cash items transactions and retail purchuses), check our balance of account or history of transactions. In the future the application will work on every type of mobile handset and allow us to use very safe ways of protection such as digital signature or finger printing. Placing the application on a SIM Card let us move accounts from one phone to another.

Of course the first question is whether it’ll be safe. There is no answer for this questions. We can only imagine that it’ll be a new challenge for hackers and any type of burglars.