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In the July Digital-First Banking Tracker® , PYMNTS explores the latest in the world of digital-first banking, including the long-lasting effects brought on by the pandemic, the shifting attitudes surrounding ATM use, and how the digitalbanking development field is reaping dividends from the financial industry’s sea change.
Consumers moved to digitalbanking in droves during the early months of the COVID-19 pandemic — it appears they are not moving back. Consumers pivoting to online banking are also more concerned over the privacy and security of their data, especially as fraud volumes creep up —and financial regulators are taking notice.
The latest PYMNTS Digital-First Banking Tracker , a collaboration with NCR Corporation , unclouds a blurry picture where 70 percent of consumers in a recent survey reported visiting a bank branch in the past month, and yet foot traffic keeps dropping as digitalbanking climbs. Solving the Branch Conundrum.
The new digitalbanking solution offers flexible tools to help people manage their finances when they have multiple income streams coming in from contract work and freelance gigs. workforce by 2027. “Unfortunately, some traditional institutions aren’t adapting.
Digitalbanks : Square uses Marqeta for its cash app and merchant debit card. . Under the current agreement with Sutton Bank, Marqeta earns 100% of the interchange fees. Marqeta pays Sutton Bank a fixed percentage of each transaction. The partnership expires in 2027 and renews in 2-year terms.
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