From Banking Assistant Apps to Financial Fitness Incentives

By: Meghan Young - Jul 7, 2014
With the recent surge in alternative financial institutions that have no fees due to low operational costs, digital banking innovations have become a number one priority for traditional companies. In order to keep their clients while maintaining their overall business, banks are jumping on the tech savvy bandwagon with digital incentives that make their services easier and more convenient.

This collection of digital banking innovations show that companies are not only introducing their own smartphone apps to better track and use their services, they are also targeting millennials in more specific ways. For instance, the exponential growth of wearable technology and fitness concerns prompted Russia's Alfa-Bank to create Alpha Activity, which tracked the users movements in order to deposit special amounts of money into their savings account. Banking has never been more interesting.