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number to capture through a mobile app, and I think that showcases how important our customers think this is,” Tremonte adds.


Features such as mobile check scan-


Mobile phones are beginning to supplant debit cards through the use of digital wallet services such as Samsung Pay.


AP Photo/Seth Wenig More than technology, “what’s really


changing is the needs and priorities of our customers, and because of that … we’re making our entire organization much more accessible to the customer base,” says Leesburg-based Anthony Tremonte, a financial center sales and Merrill Edge regional executive for Bank of America. For instance, Bank of America, Sun-


Trust and other financial institutions are beginning to implement live video chats with tellers at ATMs. Video tellers can perform any services that an in-person


teller can, except that they offer extended weekday and weekend banking hours com- pared with branches, Tremonte says. Nevertheless, mobile still is the driving


force behind banking technology at pres- ent. About 32 million of Bank of Ameri- ca’s 48 million national customers are using online or mobile banking, with 18 million alone using mobile devices, he says. “We’re doing 222,000 mobile check


deposits every day. The total number was 20 million for the third quarter, worth about $17 billion in assets. That’s a big


ning, making bill payments and transfer- ring money are commonplace on many apps now. Virginia Credit Union offers loan applications via mobile banking, and Bank of America customers can use their smartphones to schedule a same-day, in-person appointment with a bank rep- resentative, similar to making an appoint- ment at the Apple Store’s Genius Bar. In many cases, mobile phones are


beginning to supplant debit cards, via digital wallet services such as Apple Pay, Android Pay and Samsung Pay, which allow consumers to pay for purchases by scanning their smartphones. A number of banks and credit unions, including Bank of America and Virginia Credit Union, already offer these services. “We believe that the physical act of


swiping a card will likely not exist in 15 years,” Saneda says.


SUCCESS FEELS GOOD WHEN YOUR BANK IS ON YOUR SIDE.


Bennett L. Stein, Esq., has been practicing law since 1967, so he knows the importance of accuracy, dependability and integrity. That’s why he banks at Union. As a customer for more than 10 years, Stein says, “From tellers to loan officers, like Julie Bartley, everyone is extremely cooperative, genuinely friendly and helpful. They give each transaction, large or small, their utmost attention. I have never had a better relationship with any institution than I have with Union.” That’s the kind of testimony we love to hear.


1/2 hor


1.800.990.4828 Union Bank & Trust


62 FEBRUARY 2016


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