The Migration from Paper to Screens

Financial institutions are evolving fast, what does this mean for you?

The Digital Revolution in Finance: An Overview

Technology is rapidly becoming a part of everyday life, reaching over 60% of the world's population. Many feel uncertain as we move from paper to digital solutions, impacting the way we manage our finances. Have you noticed new machines at your bank or been asked to download an app for managing funds?

This digital shift is driven by technological advancements and demand for faster financial services. Financial institutions are investing in digital infrastructure to meet member needs and remain competitive. Understanding these advancements can help you confidently navigate these changes.

Benefits of Digital Financial Services

There are many ways technology can benefit you and your money. One of these is convenience! You can now access banking services from the comfort of your home or on the go using a smartphone or computer. Decreasing the need for physical visits to a branch saves you time, effort, and gas. You can even remotely deposit paper checks just by snapping a quick photo, with services like Levo's Mobile Deposit.

There also tools to help you pay bills online, like our Bill Pay. Directly paying bills through your financial institution is a great way to ensure your bills are getting paid on time and gives you much more control over how much you spend. Rather than mailing a check to a company, which could potentially be stolen in the mail or take too long to get to its destination, you are able to use this feature to look up the company the bill is for and make a simple and fast payment. You can even set up recurring payments so that you don't even have to worry about it. 

Additionally, many mobile apps from financial institutions come with enhanced security features such as facial recognition, fingerprint scanning, passwords, verification codes, and account alerts about any account activity, reducing the risk of fraud and theft. Technology improves the speed of transactions, with funds being transferred instantly at the press of a button between your accounts or even to someone else's account. These benefits make digital financial services an attractive option for many people.

Many places also offer ITMs, machines that give you even more options than your typical ATM. With this you can do things like cash a check, deposit cash, and do much more without needing a teller to do it for you. This enables you to perform a wide range of transactions even if the bank is closed.

With this technology, financial institutions are able to ensure that their members have access to our services even in the dead of night.

For a complete overview of Levo's digital tools, visit our online/mobile banking page.

Challenges for Traditionalists: Transitioning from Paper to Digital

How You Can Embrace Digital Innovations

Embracing the future starts with a willingness to learn and adapt. Begin by exploring the digital services offered by your financial institution. Take advantage of online tutorials and customer support to familiarize yourself with digital banking features.

It's also important to stay informed about the security measures in place to protect your information. Gradually integrating some of these digital solutions into your financial routine allows you to enjoy the convenience and benefits of modern banking while ensuring your money is safe. If you have questions about Levo's online and mobile banking or need help with certain features, please don't hesitate to call our call center at (605)-334-2471. We are happy to help!