Demand is soaring for app-only banking across the UK and indeed the world.
As a result, we’re seeing more and more traditional banks disappearing from the High Street.
Earlier this month RBS announced it would be closing another 54 Royal Bank of Scotland branches early next year in England and Wales. In addition, Lloyds Bank are closing another 15 branches to add to the 41 that have already closed this year.
Branches are dwindling because an increasing number of people are using their smartphone as their principal banking option. Financial management is far simpler, accessible and unquestionably more dynamic using mobile banking.
With your bank at your fingertips 24/7, anywhere you are in the world, there’s no longer any need to visit traditional branches to carry out daily banking activities.
The stats speak for themselves.
Since the launch of global e-money app, deVere Vault, download figures continue to accelerate. By the end of 2017 over 60,000 people had downloaded the app.
With Vault, users can store, transfer and exchange monies in 27 global currencies. A deVere Vault account can be opened in a matter of minutes; cash can be drawn from any ATM worldwide; real-time notifications on all transactions are provided; users can spend money wherever Mastercard is accepted; lost or stolen cards can be instantly frozen, and users can send and receive money in most major currencies instantly with other Vault account holders. In a matter of seconds.
Of course, it’s essential, that people are able to access, manage and utilise their funds easily, wherever they are, in today’s increasingly globalised, rapidly-changing world. Access to money must be borderless.
Vault provides this power to globally-minded individuals, businesses and expatriates.
As demand for app-only banking is set to experience stratospheric growth levels in the next couple of years, and as people are living increasingly international lifestyles and business becomes far more globally-focused, the mobile banking sector is certainly the future.