The digital banking space is expanding at a massive rate. Interestingly, more than half of the US population used digital banking in 2021. That also includes various industries and commercial businesses besides your average Joe. The number of home builders adopting digital banking practices isn’t uncommon. However, the same statistics also show that the percentage of the US population, including home builders, set to use digital banking in 2022 will increase to 65.3%!
That’s a huge chunk of the overall US population, and it’s why the latest updates and biggest transformations in the digital banking industry are a must. Let’s find out the latest information and the biggest advantages of digital banking that most home builders in the US overlook despite being aware.
The Benefits of Digital Banking for Home Builders
There are countless benefits of digital banking for people in various industries and businesses. However, some of the main benefits significantly help home builders. Wondering what those benefits are? Let’s find out how digital banking can help your home builder business surpass your competitors and introduce convenience in your operations. Don’t forget that we will also discuss one of the best digital banking and payment handling services out there, VERGO, towards the end.
Control Payments with a Small Device
What small device are we referring to here? That’s right! We’re talking about smartphones. The best feature of digital banking isn’t that you can move money from anywhere in the world. This digital banking feature comes in handy for home builders, allowing them to handle payments, create records, and enjoy countless perks through a single and easily understandable device, i.e., a smartphone.
The latest update in the digital banking space involves the introduction of a new application that’s helping home builders carry out smoother operations. However, we will get to that digital banking application later in the post. You can control payments and make a wide range of decisions regarding your payment plans through a digital banking app. You will have it in the palm of your hands, so you don’t have to visit the bank every now and then or fire up your laptop all the time.
You no longer have to come into a bank branch and work with a bank employee to handle payments and perform other essential tasks for your business. You can easily check account balances and transfer payments. With the latest tech updates, you can also allocate a specific portion of the funds to different projects to keep expenses recorded and in line with the estimation.
What’s New in the Digital Banking Industry for Home Builders?
It’s hard to keep a record of the updates and transformations that are taking place. However, you must know that finding the best online digital banking solution can be instrumental to your business’s success. Furthermore, if you’re still concerned about the lackluster digital banking apps in the industry, try using VERGO.
VERGO is the first debit card in the industry that’s designed to suit your business spending, payment processing, and expense handling. It’s FDIC-insured to offer even more perks to the digital banking space. Here’s more about the VERGO debit card that’s helping the home builder industry and creating new avenues to increase operational efficiency. As it maximizes the use of digital banking services, it doesn’t compromise on project completion.
About VERGO and It’s Debit Card
VERGO offers a debit card that adjusts as per your business’s spending needs and requirements. However, you must not assume at any point that VERGO is a bank. It’s a financial technology company that’s focused on landscapers, home builders, electricians, and other associated professionals to improve their spending methods and techniques. Offering comprehensible terms and conditions, the company also makes customers eligible for earning cash-back rewards.
How Is It a Brilliant Digital Banking Innovation?
Before you sign up and proceed with a VERGO business Visa debit card, make sure you learn about the policies of using it. Homebuilders get a lot of perks when they get their Visa debit card. You can top up the card with a certain amount and then proceed with spending it as per your expenditure requirements.
That’s not all! In fact, every time you spend through the card, the VERGO digital banking app will make a statement for it and record it instantly. That means you will have clearer and more comprehensible reports. Since it’s one of the most amazing and brilliant inventions by the financial technology company VERGO, it has helped home builders take their operations to the next level. The card allows home builders to create set budgets for each project that they’re handling, making it easy to multi-task at the same time.
No more sifting through huge piles of receipts and gathering information about credit and cash purchase/ sales. With the help of the VERGO business Visa debit card. You can manage the cash flow of multiple projects quite smoothly while gaining unlimited cash-back rewards on all your purchases through the cards.
Are you wondering whether or not to opt for a digital banking application for your home builder association, agency, or network? Well, the time to change the payment methods and send invoices has come. Plus, finding the best digital banking application isn’t difficult at all. VERGO allows you to send invoices automatically as per the set parameters you decide. It helps you spend the money have allocated under each name and not more than that unless you allow it.
For a better digital banking experience that helps you improve your operations as a home builder, choose VERGO. It’s slowly becoming one of the leading digital banking apps and financial technology companies in the industry.
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