Sunday, February 10, 2008

New Tech to Influence Future of Banking

The swiss army knife that is online banking is getting the equal of that tiny pair of tweezers that has so many uses. Customers will be able to deposit checks through the automated clearing house (ACH) system into their bank accounts. Checkfree.com looks to be pairing with other institutions to enable this feature in the coming future.

Clearing checks will get easier because it can be done by email. Heavy and moderate users will have their entire account activity archived through their email provider. Look for ISPs and banks to start offering encryption as an additional service for email and mobile technologies.

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