New developments in computing and software technologies, smartphones and apps provide consumers with an increasing number of options to complete routine tasks. Consumers enjoy convenience, while service providers achieve efficiencies, savings and increased customer satisfaction.
Take the example of making a check deposit. Only a few years ago, bank customers had one option. They had to locate a branch, travel there, and wait in line for a teller to make a deposit. Then, Automated Teller Machines (ATMs) came along. ATMs were placed at numerous locations, offering bank customers' convenience in when and where they banked. Banks invested in procuring and servicing ATMs, but saved over time on physical locations and related expenses.
Advancements in technology, including mobile devices, have taken convenience to a new level with some banks now allowing customers to snap photos of the front and back of an endorsed check using a smartphone—and the deposit is confirmed. Convenience when and where they need it— from their homes, on the road, the beach, anywhere they want.
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