by Vince Liuzzi
Executive Vice President and Chief Banking Officer, DNB First

Technology. It’s constantly changing the way we live – and bank. Where we once took out our checkbooks in the grocery line, today we’re swiping debit cards. Where we once trekked to the bank to make deposits, we’re now making them in a snap from our smartphone cameras.

There’s no question, banking is changing in ways many of us never thought possible. And it’s not just banks that are the catalysts for this change. With services like Apple Pay and Google Wallet, which let you use your mobile device to pay for purchases, technology companies are putting new ways to transact into consumers’ hands. And that brings up an important question:

Will you even need to have a bank in the future?

In short, the answer is yes. Banks offer a very significant benefit that these technology companies can’t – a relationship. Maintaining a relationship with a bank will allow you to –

• Access a range of financial services – under one roof. Technology companies may bring you the latest innovations, but they can’t do something banks do very well – offer multiple financial services in one place. Banks can provide you with checking, savings, mortgage, even retirement solutions – allowing you to simplify your financial life and leverage relationship benefits.
• Get personal service. Technology companies are great on convenience, but often not so great on service. Smaller technology companies, in particular, usually operate with fewer staff, which means if you encounter a problem or have a question, you can’t get assistance as easily as you could from your bank. And when it comes to something as important as your money, getting personal assistance is critical. 
• Be protected. Banks understand the importance of protecting your account and personal information and are vigilant about dedicating resources and staff to ensure the highest level of security. Knowing you’re with an institution that’s dedicated to guarding your money can help you sleep better at night.

The bank of the future.

The good news is that having a banking relationship in the future doesn’t mean you have to sacrifice technology. The optimal solution is to choose a bank that’s dedicated to investing in technology and partnering with technology companies to deliver the high level of convenience you want without sacrificing the protection and personal service you need.

At DNB First, for example, our customers can access a full range of financial services that allows them to bank when and where they want. If or when they need assistance or guidance, they can simply pick up the phone or visit one of our branches for personal service. And let’s face it, no matter where technology takes us in the future, the importance of that will NEVER change.