The Advantages of Digital Banking

It’s no secret that most Americans have turned to digital banking in recent years for its convenience, security, and control. In fact, 78% of Americans prefer banking via mobile app or website to banking in person according to a 2023 Forbes Advisor U.S. Consumer Banking Statistics study.

Here at Kitsap Credit Union, we’re focused on delivering a best-in-class digital banking experience. We asked our Digital Channels Manager, Emma Gao, to tell us more about the features and benefits of digital banking. Here’s what she said:

Q: What features are available in digital banking? What types of things can I do in digital banking? 

A: Digital banking offers a wide range of features designed to make managing your finances convenient and accessible from anywhere at any time. Some key features include: 

• Account Management: View account balances, transaction history, e-statements and find your account number, route number etc.
• Funds Transfer: Transfer funds between your deposit/loan accounts internally and externally.
• Mobile Deposit: Deposit checks using your smartphone by taking a photo of the check.
• Payments:
  • Bill Pay: Schedule and pay bills electronically.
  • P2P Payments: Send money to friends and family instantly via Zelle
  • Loan Pay: Make yourKCU loan payments from your KCU or Non-KCU accounts. 
• Financial Insights: Access personal financial management (PFM) tools, like Money Management, Goal Builder, to track spending, set budgets, and monitor financial goals.
• Open New Accounts: Open new deposit accounts and certificates. Apply for loans or credit cards directly through the app.
• Card Management & Rewards: Manage your debit/credit cards and rewards. Set travel notifications.
• Secure Messaging & Chat: Communicate securely with us via digital banking platform.
• Alerts & Notifications: Set up real-time alerts for account activity, such as low balances or large transactions.
• Location Finder: Find nearby ATMs or branches.

Q: Why are these features beneficial to me? 

A: These features offer several benefits: 

• Convenience: Manage your finances anytime, anywhere, without needing to visit a branch or call.
• Efficiency: Streamline tasks like paying bills, transferring money, or depositing checks, saving you time.
• Control: Keep a close eye on your accounts with real-time alerts and detailed transaction history.
• Financial Health: Use budgeting tools and insights to better understand your spending habits and achieve your financial goals.
• Security: Protect your accounts with secure login methods, including biometrics, and receive alerts for suspicious activity.

 Q: Are there any features I can look forward to? 

A: Absolutely! We are constantly working on enhancing our digital banking experience. Some upcoming features include: 

• Credit Score Monitoring: A feature that allows you to monitor your credit score directly from the app.
• Advanced AI-Powered Insights: Further personalization of financial advice with AI-driven insights tailored to your unique financial behavior.
• Enhanced Mobile Payments: Integration with more mobile payment platforms for even greater flexibility.
• Self-served Certificate Management Tool: Manage your certificates digitally without the need of walking into a branch or calling.
• AI-Empowered Digital Communications: More intelligent notifications/communications to provide proactive advice, active offers and follow-ups tailored specifically to you.

Q: Anything else you would like to share about this? 

A: We are committed to continuously improving our digital banking services based on member feedback. Our goal is to provide you with a seamless, secure, and highly personalized banking experience that supports your financial well-being. If you have any suggestions or ideas for new features, we’d love to hear from you as we work to make our digital platform even better.