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Huntington Bank’s Quick Balance makes mobile banking even more convenient

Huntington joins a select few in offering a new mobile banking application feature that brings added convenience for customers by displaying account balances with only one touch.

Known as Quick Balance, the service accommodates mobile bankers’ tight schedules without compromising how they keep their finances in check. With the ability to skip over the typical log-in process, Quick Balance hastily answers the popular question of “how much money is in my checking account?”

“The reality of is this fairly innovative in the market today and Huntington is leading the way instead of following in the footsteps of larger banks,” said Mark Sheehan, executive vice president of payments channels for Huntington Bank, Columbus, OH.

“Quick Balance is about creating a simple way for consumers to access their most common use case and focuses on the features and functions our customers are demanding, and takes that information to the next level of deployment.”

The bank holding company operates within a six-state retail banking franchise: Ohio, Michigan, Pennsylvania, Indiana, West Virginia, and Kentucky. The primary distribution channels include a banking network of more than 700 traditional branches and convenience branches.

Interest in security
To ensure the security of customer information, the Huntington Mobile app uses a multi-factor authentication system to verify identity and register services.

Once registered, customers can opt-in to the Quick Balance feature and select eligible accounts to display.

The secure and simple feature is ideal for on-the-go peace of mind by enabling customers to quickly and easily check their balance between meetings at work or while in line at the grocery store.

Quick Balance complements Huntington’s mobile check deposit option, which was rolled out in the first quarter of 2014.

Huntington is continuing to debut other mobile additions this year to bring it up to speed.

Trends of the future
It was not too long ago that mobile banking seemed futuristic, however it continues to emerge as a must-have, and accordingly, small credit unions are evolving in mobile strategy to compete with big banks.

While a regional bank is limited in its outreach, the need for hundreds of branches is becoming unnecessary, as smartphones have become extensions of locale.

Analysts at Fidelity National Information Services predict mobile will soon surpass online and become the primary interaction channel for banks and credit unions.

The new battleground for relevance and quality, mobile banking apps will need to up the ante in terms of functionality, as consumers will not have patience for apps that do not perform.

Remote deposit capture
As mobile devices with sharper cameras become available, remote bill pay and check deposit are becoming more widely available from financial institutions.

When the iPhone debuted in 2007, it came standard with a two megapixel camera. The current 5S model dons an eight megapixel camera which means clearer images and more successful deposits.

Smartphones offer the fastest way to input data by use of camera, as the fat-thumb syndrome makes typing into small areas a challenge. Chase and PNC are only a few of the bigger banks who use such technology, but as more competitors catch on to the important roles of in-app camera functions, the feature will most likely go mainstream.

The stage is unarguably set for added innovation and reinvention in mobile banking capabilities. Small credit unions will need to act fast to avoid missing out on trends and falling out of currency.

“Millions of customers get alerts or texts daily concerning their account balance after making a deposit or because of automated systems,” Mr. Sheehan said.

“We sought to replace that completely, and we only make account information available on mobile based on your preferences, and Huntington is moving into on-demand to provide such details.”

Final Take:
Michelle is editorial assistant on Mobile Commerce Daily, New York