If you’re looking for all-mobile banking, you don’t have to stick to start-ups. Chase is the latest and largest bank to enter the space; its Finn app goes live nationwide for iOS users on Thursday.
Finn joins an increasingly crowded market of mobile apps that offer access to banking services from your phone or tablet. These apps generally let you do such things as check your account balance, find a nearby ATM or deposit a check by taking its picture.
Here’s what you need to know before you choose Finn or a competitor.
What Finn brings to the table
According to Melissa Feldsher, head of Finn, the app aims for ease of use and combines banking and personal financial management.
For those who’ve been hesitant to try mobile banking — emoji or not — the Chase name might make a difference. “It gives people a lot more confidence,” Feldsher says.
And more competition is good news for consumers. New products help to accelerate innovation in the industry, says Leo Rinaldi, retail banking practice leader at Novantas, a banking advisory firm: “I don’t know that we can totally predict where it will lead, and that’s part of what’s exciting.”