From Palm Print-Scanning ATMs to Check Depositing Mobile Banks

By: Alyson Wyers - Jul 4, 2014
With the amount of time young people spend on their smartphones, it only makes sense there would be a market especially for millennial banking apps. While online banking is becoming increasingly accessible to people of all ages, older demographics tend to be more concerned about internet safety and inputting such sensitive information. Having grown up with the internet, the young adult population doesn't have the same concerns and want banking to be more accessible than ever.

These millennial banking apps go beyond online banking to mobile, where they can complete simple tasks like scanning checks. Many of these smartphone applications are educational, giving this age group financial literacy and easy to use platforms at the same time. To ensure security, many of these apps include biometric measures such as facial recognition or palm scanning as well.