Meet The Digital Tools You’ll Learn and
Love at Capital One Cafés
As digital tools become an even greater part of our daily routines, smart technology helps to simplify our financial lives. That’s why Capital One Cafés are a hub to learn about and interact with the latest services that make everyday banking a breeze.
"Capital One Cafés are at the intersection of both the digital and physical worlds and are a space that’s intentionally designed for how people live and bank today," says Gill Haus, Managing Vice President, Retail and Direct Bank CIO at Capital One. "From companies like Amazon to Uber, technology is reshaping and reinventing countless industries, and we know there are few spaces as ripe for technology and human-inspired re-imagination as how people relate to their money. That’s why every day, designers and technologists at Capital One are reimagining the way people use money and making bold, breakthrough transformations that change the way we bank."
It’s an approach that’s in step with today’s needs. Sixty percent of consumers today use online banking at least weekly, and 87 percent of them still crave a place to go with human interaction to complement that online experience, according to Accenture Consulting’s 2016 North America Consumer Digital Banking Survey. The digital tools within Capital One Cafés solve that piece of the puzzle with innovative technology such as apps like CreditWise, Level Money and CashTapp, cash-deposit ATMs, a partnership with Amazon Alexa, interactive demo bars to learn the latest digital tools and interactive screens that provide educational money content. "Capital One is redesigning the banking experience, making things simple and straightforward; creating an experience that fits more naturally into people’s lives," Haus adds. "We are creating new ways for people to use credit wisely, save and invest for the future all while making transactions simpler and managing money easier. Really, at the end of the day, our goal is to help people feel confident about their relationship with their money. That’s at the heart of everything we’re doing in the Café and through our digital tools."
Below, get familiar with three important tools you’ll soon find indispensable—then head to a Capital One Café to get started.
CreditWise: This free credit-monitoring app provides not only your TransUnion® VantageScore® 3.0 credit score, but also explains how it’s calculated. It then uses your credit history to keep your score up-to-date—including factors that are affecting your score, simulated ways designed to help you improve it, insight on what happens when you pay off debt and alerts when your TransUnion credit report changes. "What I find especially useful about CreditWise is that it provides a deep dive on the ‘why’ behind a credit score, details not often easily accessible to us. And, it presents the information in an easy to understand, easy to find way.," Haus says.
It's important to know that there are many scoring models used by lenders, and chances are, the score you receive from one lender won't be exactly the same as the one used by another individual lender. It will, however, be an accurate measure of your credit health—which is what every lender will be checking in its own way.
Level Money: "How much money can you actually spend is often tricky to answer," Haus notes. This Webby Award-winning personal finance app (for Best User Experience in a mobile application) answers that common question by providing budgeting recommendations based on your bank balance. Level Money will help plan for essentials like rent payments and monthly bills, set a target savings goal, establish "spendable" funds for things like clothes or movies and what to do with extra cash (make an extra student loan payment or invest it?). "Level Money does this in a simple and elegant way that makes it easy for customers to understand their position clearly, taking the stress out of managing their money," Haus adds.
Amazon Alexa: Through a recent partnership with Amazon, Capital One created a first-of-its kind skill for their Amazon Alexa products that allows people to manage their bank accounts using just their voice. Just ask Alexa to check your account balance, recap the last few transactions or even pay your credit card bill. Amazon Echos have also been installed in every Café and can be tested at the demo bar. "I can't say enough cool stuff about Alexa and the growing popularity of personal assistants," Haus says. "The ability to easily interact with your bank by talking to it from your kitchen or your couch not only makes our services more convenient for customers, but it also allows us to start to be everywhere our customers are."
To put these tools to the test, stop by your nearest Capital One Café at capitalone.com/cafes.