Personal Insights

For Fintech, the Future is Now

Whether it’s casually splitting a check or carefully managing a trust, new technology is making managing finances simpler.

When most people think of e-commerce and fintech (financial technology), they’re likely to think of things like virtual currencies, such as bitcoin, or advanced algorithmic trading schemes. But the fact is that fintech has already entered our daily lives, offering new advantages and opportunities.

Simplifying complex portfolios

As customers begin to expect more personalized and holistic financial experiences, fintech is delivering improvements not only with day-to-day transactions but also with complex financial matters. Regions, for instance, is rolling out the Regions Wealth Platform (RWP), a new online interface that makes trust and investment management more accessible and transparent for customers.

RWP will let our clients check important trust-related information and even perform vital account management functions from almost anywhere, using Regions’ secure cloud-based technology. “It provides a state of the art digital interface for our clients,” says Leslie Carter-Prall, Head of Regions Private Wealth Management. “Many transactions are made more quickly, and advisors can respond to client needs more efficiently.”

“With this new banking technology, Regions Wealth Management professionals can spend less time on paperwork and more time creating tailored solutions to help clients reach their goals and objectives,” says Andy Hernandez, Head of Regions Digital Banking. “After all, the role of fintech — really any banking technology — should be to simplify customers’ lives, to make life better.”

Eliminating IOU moments

Even once-casual transactions that were traditionally considered cash-based — such as paying the babysitter — can now be handled by a digital payment experience, Zelle®.

Another example: Think of those semi-awkward moments when you split a check or share a cab with a friend — one of you picks up the tab, while the other promises to repay what’s owed at some point in the future. “With the emergence of digital payments, you can send money online to repay your friend, on the spot, with just your phone,” says Hernandez.

And Regions is part of that digital payment movement. With Zelle, you can send money from your account to almost anyone with a U.S. bank account, quickly and securely . All you need is that person’s email address or U.S. mobile phone number. When you send the funds, they’ll receive an email or text message with instructions on how to enroll in Zelle to receive the money directly into their bank account.

Regions knows that when bringing cutting-edge online banking technology to customers, the first priority is that it is both secure and accessible. That’s the only way for these advances to become more than just bells and whistles, but a new and improved part of everyday life.