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TD Bank promotes online banking via new tablet app

TD Bank is rolling out its first mobile application for tablets to reach a wider target audience of consumers looking to conduct online banking on personal devices.

The bank developed the tablet app, available for iOS and Android platforms, after discovering many of its customers were using tablets to visit the Web site or were using the mobile app on tablet devices. The TD Bank tablet app offers the same functionalities and feel as the mobile app, but is optimized for a larger screen.

“Leveraging mobile, and all channels, is critical to the banking sector,” said Mike Coyne, head of U.S. digital strategy and planning for TD Bank, Dover, DE. “Customers want the same experience no matter how they do their banking, so banks must evolve with consumers’ lifestyles and enable them to connect through all channels – online, mobile, in the branch, via the ATM and over the phone.”

Mobile banking features
The tablet enables users to manage their personal bank accounts and check their balances and transactions for checking, saving and money market accounts. TD Bank has found that consumers prefer online banking on tablets due to the wider screen and easier ability to see figures and details.

Guests can also use TD Bank’s Mobile Deposit feature, which allows users to snap a photo of the front and back of a check and select which account they would like the money to be immediately deposited into. Mobile Deposit also offers directions to the nearest bank branch or ATM, and has transfer and bill paying functionalities.

Customers can report a lost or stolen debit or credit card through the tablet app, as well as send a link to share the app with a friend.

For users that have inquiries about mobile banking, a one-touch “Contact Us” button is available to connect for round-the-clock customer support.

“Initial response has been great with nearly 3,500 downloads, and we anticipate customers to continue to download and use the app for their on-the-go banking needs as they buy and receive new tablets as gifts this holiday season,” Mr. Coyne said.

Banks and mobile
More banks and financial institutions have discovered the benefits of offering extensive services on mobile, and using a mobile strategy to create personalized experiences for customers. U.S. Bank recently predicted that banks will see beacon technology take off in 2015, leading to more customized services (see story).

Beacons will enable banks to send relevant push notifications to consumers in their areas with features such as personalized maps of the branch, custom services based on the user’s accounts and special promotions.

Meanwhile, mobile imaging is set to become a fixture in banks’ mobile strategies, a capability that TD Bank already offers in Mobile Deposit. Mobile capture software firm Mitek has discovered that consumers prefer to conduct financial transactions by using a smartphone camera to snap a document.

This functionality removes the friction of having to enter longwinded numbers or information into a mobile device, and is optimal for on-the-go guests.

“Apple Pay is now available for TD Bank debit and credit card customers, and we are pleased to provide our customers with another convenient, easy and secure way to make their mobile payments,” Mr. Coyne said. “We will continue to evolve our  mobile capabilities, focusing on those areas that align best to our brand promise of being America’s Most Convenient Bank.”

Final Take
Alex Samuely is an editorial assistant on Mobile Commerce Daily, New York