Good news to Bank of America clients, as the American banking and financial services corporation introduced a technology that would enhanced the security of their client's information.
Banking technology has advanced leaps and bounds over the past few years. At present, people can access their bank accounts, transfer funds, pay bills and even invest money on the stock market with just a swipe of a screen. There is no denying the convenience of being able to conduct banking errands without having to leave the home or the office. Nevertheless, the practicality of mobile banking has ushered in a few drawbacks.
According to a recent study, instances of identity theft have steadily grown over the past few years, wherein 21 percent of fraudulent activities were traced back to mobile transactions. As a result, online sellers have lost 70 percent more revenue due to identity theft from 2013 than in 2014. Thankfully, banks across the United States are now taking action in order to safeguard the mobile banking activities by their patrons. In fact, just recently, Bank of America introduced a new technology that would keep more of their client's information safe.
According to Ubergizmo, Bank of America recently launched an updated version of their application which enables more Android users to utilize a fingerprint scanner in order to log into their bank accounts. The update is now running on Marshmallow API - allowing Nexus users to access their accounts via fingerprint scanning.
Bank of America initially launched the fingerprint scanning feature of their mobile application in September 2015. According to The Verge, the fingerprint capabilities only initially worked for Samsung smartphones; however, with the Marshmallow API update, more smartphones would be able to utilize the feature. Likewise, the bank has introduced a parallel Touch ID on iOS application for their clients who use Apple iPhones. The Bank of America application was also made compatible to the Apple Watch around the same time in 2015.
Aside from the fingerprint update, the application is now able to order new checks for an individual's bank account. Moreover, check depositing via image is also now an added option for the Bank of America mobile application. The new features of the app makes it virtually unnecessary to visit an actual brick and mortar bank.
Watch the video below to know how to deposit checks using Bank of America's mobile banking app:
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