This winter, I recently completed my 22nd year in banking. As I reflect on the past two decades, it’s amazing to see all the changes in the financial services industry. If you had told me when I started that we would someday be able to make payments from a wireless phone or a wristwatch, I’m not sure I would have been able to comprehend. I was recently in a small convenience store in a large airport where there were no employees, you entered by scanning your credit card, and you grabbed your goods and walked out. It charged your credit card and knew what items you had taken for purchase. I can understand the self-checkout we now have at many retailers, but I’m still struggling with wrapping my mind around how that worked. While there’s a lot that has changed, there are some things that remain the same. For example, checks still look and feel the same, have magnetic ink, and are still the most popular method of payment for many small businesses.

As I look back on the past 22 years and where banking is headed, I’ve narrowed it down to three pieces of advice.

1: Embrace Technology – Tools like online banking, bill pay, and mobile deposit are not only safe and secure, but often more efficient. These options are safer because they require multi levels of identity authentication. Digital wallets like Apple Pay and Google Pay often use biometrics like fingerprint and Face ID already being used on your phone to verify your authorization. Bill pay and mobile deposit can get payments made faster and deposits to the bank sooner while eliminating the risk of fraud through the mail service. Bruning Bank’s Bill Pay service looks for ways to create safe, electronic channels with payment recipients and uses tracking when payments do have to be sent through the postal service. Bruning Bank online banking and mobile app are safe, secure, and easy to use. By using online banking, you can monitor account activity more often than waiting for a monthly statement. Speaking of statements, enroll in online estatements to eliminate fraud risks associated with statements sent through the mail. If you aren’t enrolled in online banking, talk to a relationship associate to get started today.

2: Monitor And Protection From Fraud – With the ease of technology comes increased risks of fraud. Don’t make purchases online unless you are sure the site is secure. Enroll in credit monitoring to monitor activity on your credit file. The Bruning Bank app uses the powerful technology of Savvymoney© to provide free monitoring of your credit score and account activity. This technology will alert you when a lender makes an inquiry of your credit or a new account is reported. It will also give you your credit score for free and provide tips on how to keep your score strong. If you are still using checks, enroll in the USPS informed delivery program and purchase tracking when sending payments through the mail. This free service from the USPS will send you an email daily letting you know what items you should expect to receive.

3: Have An Expert You Can Turn To – When you use the latest and greatest technology, there’s always bound to be a speed bump. Even if you follow steps to safeguard and protect from fraud, you may still encounter an inconvenience. It’s important to have a banker who knows you and can assist when you have technical difficulties or a suspected fraud. The key is to monitor your activity and contact us as soon as you notice a discrepancy. Reconciling your account regularly is still necessary and important. The bankers at Bruning Bank are experts and are always available to assist you.  

- Dave Richardson, President- Grand Island (NMLS #445892)