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CIT Bank 2020 Review

MyBankTracker

They may be missing out given that CIT Bank is quietly offering some very attractive products that have competitive deposit rates and very low fees. Here’s an overview of CIT Bank’s most notable offerings and how it may be a better bank for your money. It comes with a debit card and online bill payment capabilities.

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Can Smartphones Solve ATM Skimming

Banking 2020

ATM skimming remains a big business for organized crime rings. According to a recent article in ATMMarketplace.com, card skimming accounted for more than $2 billion in losses. Another disadvantage of using mobile phones as a card replacement is the use of QR codes, instead of the more flexible NFC, HCE or Bluetooth standards.

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Facial recognition technology at tipping point in payments

Banking 2020

Cameras mounted onto the front of an ATM or POS could even recognise consumers as they approached, producing what the developers claimed was the “world’s fastest payment system.”. The first pilot sees 750 ABN Amro credit card users do away with their passwords, PINs and confirmation codes.

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How 2015 is Different for Retail Banks

Banking 2020

The 2014 Federal Reserve report identified that, for the first time, more than 50% of smartphone owners are using mobile banking. Banks continued to invest heavily in this channel to differentiate last year. The big new feature in 2014 was Apple Pay, which had many banks scrambling to get onboard after the November launch.

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