Bank Innovation

MAY 16, 2019

KOHO, a Toronto-based digital banking startup, has raised C$42 million (US$31 million) in a Series B round to add new products and services. KOHO, with its millennial friendly aesthetic and messaging, currently offers its users debit cards, personal finance management tools and cashback features.

Millennials 186

Millennials Digital Banking Tools Innovation 186

PYMNTS

DECEMBER 27, 2019

Early innovators managed cooperatives using the same founding principle that CUs use today: members-first finance in place of indifferent, legacy-style banking. There is a sense, however, that CUs themselves bear responsibility for falling behind the digital banking trends that first took hold with consumers.

Digital Banking 130

Digital Banking Millennials Banking Trends Mobile 130

PYMNTS

MAY 28, 2019

Much thought is given to millennials and even Generation Z — consumers who were born during fixed periods of time, and who are having an increasing impact on payments and commerce. But let’s not forget the role of the teenager in digital retail, financial services and transactions. Banking App. million in fresh capital.

Digital Banking 139

Digital Banking Google Mobile Groups 139

PYMNTS

JUNE 15, 2016

When you talk to the co-founder and CEO of a mobile-first digital bank account offering, you are likely to hear that millennials, to put it lightly, are not fond of big banks. And that’s where digital banking options like Chime (a mobile-first digital bank account, for those of you playing at home) enter the picture.

Millennials 100

Millennials Mobile Digital Banking Fintech 100

PYMNTS

JUNE 16, 2016

A lot of fuss is made over millennials and their proclivities toward things being easy. So, when it comes to something like digital banking , it’s not so much about finding what’s easy as it is about finding what service best meets millennials’ needs. Millennials to big banks: No thanks ….

Millennials 100

Millennials Mobile Digital Banking US 100

PYMNTS

MARCH 13, 2017

Several banks are rolling out banking solutions that are specifically focused on winning over millennial customers as they come of age and join the marketplace as adults. Some millennial-focused banking solutions include financial tools to help users manage their money and meet their financial goals.

Report 149

Report Digital Banking Millennials Tools 149

PYMNTS

JANUARY 24, 2017

That’s according to financial services vet and Varo Money CEO and Cofounder Colin Walsh, who told Karen Webster recently that the future of banking, for millennials in particular, lies not in branches but in bots who become money coaches. With AI … we can help them manage spending and build savings.”.

Digital Banking 100

Digital Banking Millennials Lending Google 100

PYMNTS

MARCH 9, 2020

More than half of all consumers say that having a physical branch is important for a bank to be considered their primary bank. That finding is also relatively consistent across income and demographic profiles, even for bridge millennials (the largely affluent 30- to 40-year-old crowd) and Gen Z respondents.

How To 232

How To Millennials ATM Fintech 232

PYMNTS

NOVEMBER 4, 2019

PSCU, a national payments credit union service organization, is teaming up with dispute management firm Lean Industries to process disputes, PSCU announced in a press release on Monday (Nov. The company will leverage Lean Industries’ AdjustmentHub and NetworkHub solutions to manage dispute services. “As billion transactions annually.

Industry 101

Industry Management United States Risk Management 101

PYMNTS

AUGUST 13, 2018

Exhibit A: EQ Bank , at the beginning of 2016, took its place as Canada’s first digital-born bank, and has now reached $2 billion in deposits. The concept is a bit different than might be seen with other digital banking models. Such a meteoric pace indicates a key question for banks considering the digital route.

Digital Banking 113

Digital Banking social media Course Marketing 113

PYMNTS

FEBRUARY 13, 2020

To bring digital transformation to banks, and to help them bring their assets to the “digital-first” consumer, look to the platform. Brown said the company has been working to become a software company, with digital-first banking firmly in the crosshairs. Looking At Open Banking.

Millennials 231

Millennials Digital Banking Mobile Course 231

NCR

JULY 7, 2017

All banks are aware of the importance of catering to the needs of the millennial generation. This tech-savvy cohort is set to dictate the direction the banking industry will take over the coming years and decades. It requires banks to develop a strong understanding of what motivates and matters to their customers.

Millennials 75

Millennials Customer Experience Meeting Industry 75

PYMNTS

DECEMBER 6, 2019

We have a deep dive into Colorado’s digital driver’s license effort and news on Alphabet’s new CEO, as well as data on millennial Black Friday spending. UK Digital Bank Monzo Taps Visa Exec as US CEO. Monzo , London’s digital unicorn, has appointed TS Anil to head U.S. Top News . operations.

Millennials 101

Millennials Colorado Google Leadership 101

PYMNTS

AUGUST 17, 2017

But, while closing physical bank branches might appear to be a wise cost-saving measure, the move comes with risks that could hurt banks’ relations with new millennial customers. Results also noted this generation is less likely to open a bank account if physical bank locations are not available in their communities.

Millennials 132

Millennials Digital Banking San Francisco Fintech 132

NCR

MARCH 22, 2017

Today, millennials are the largest generation in the United States – and their levels of entrepreneurship are unprecedented. Millennials are starting more businesses than previous generations, and they’re starting them at a younger age than their predecessors. The result? More data security. More productive employees.

Millennials 49

Millennials Innovation Digital Banking Security 49

Jack Henry

JANUARY 6, 2022

If you answered 30 to 40, you’re right in line with today’s Gen Z or Millennial couples. But, as Ron Shevlin said recently, “In our quest for more convenience in our financial lives, our financial lives have become more complex to manage.”.

Millennials 158

Millennials US Industry Management 158

PYMNTS

JUNE 21, 2017

Whether it’s in-app tools that offer advice on monthly spending, new services to help parents teach their kids about money management or a publicity campaign aimed at raising public awareness of the threats posed by cyber fraud, the financial sector is making consumer education a priority. Building smarter, more informed consumers.

Report 131

Report Digital Banking Millennials Fraud 131

PYMNTS

FEBRUARY 20, 2019

While they were once seen as novelties, challenger banking institutions are further encroaching into traditional banks’ territory, adding new responsibilities and products to their portfolios, such as lending. News From the Digital Banking Landscape. In the U.K., In the U.S. About the Tracker.

Digital Banking 155

Digital Banking Millennials America Marketing 155

PYMNTS

MAY 12, 2020

Consumers are paying with credit and debit cards more than ever before, and they are increasingly looking to their smartphones to gain greater control over how they spend and manage their money. percent of national banks, versus 77.5 percent of local and regional banks, according to respondents. Overall, national banks offer 6.9

Regional 241

Regional National Cards Mobile 241

PYMNTS

JANUARY 8, 2019

By 2016, Chime was in the market with the full suite of features that digital banks offer today. As a pure-play digital bank, Chime offers as its primary product an entirely mobile/digital banking application that gives customers access to a network-branded debit card and a savings account. ”

Digital Banking 160

Digital Banking Tools Cards Millennials 160

PYMNTS

AUGUST 21, 2020

Deposits had already been trending away from community banks and credit unions anyway, but COVID-19 has accelerated that shift. In fact, the majority of 2020’s new accounts have gone to megabanks and digital banks, not to community institutions. FinTech players are also grabbing deposits.

Cards 224

Cards Mobile Community Bank Community 224

PYMNTS

OCTOBER 7, 2019

Miami-based NYMBUS announced the licensing of NCR’s D3 Digital Banking platform (D3) to give financial institutions the opportunity to quickly offer customers new brands, the FinTech announced in a press release on Monday (Oct. By [adding this] platform and product capabilities, we will achieve significant acceleration in growth.”.

Miami 109

Miami Digital Banking Branding Meeting 109

PYMNTS

JULY 1, 2020

But one thing is clear: Americans would be willing to dispense with their local bank and make Amazon , Apple or Google their primary payment account provider if those 21 st -century accounts allowed them to more easily manage and spend their money. A PYMNTS survey of 3,000 U.S. The results?

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Survey Cards Millennials ATM 183

PYMNTS

JULY 23, 2019

“We are aiming to disrupt the business current account market, and these partnerships will help us do just that,” said Simon Hamilton, managing director of Nationwide for Business. . Banking disruption is moving through the U.K. Atom, a banking startup in the U.K. that caters to millennials, has raised £50M ($62.4

Millennials 144

Millennials Innovation Fintech Lending 144

PYMNTS

JUNE 22, 2017

New digital banking solutions are creating new options for these citizens to make a difference in the world through their consumer purchases. trillion , representing about one-fifth of all managed investments. The Right Tool for Millennial Shoppers? As of early 2016, SRIs had spiked a third to $8.72

Millennials 117

Millennials Digital Banking Survey Tools 117

PYMNTS

FEBRUARY 25, 2020

As the report states, “We … find that a significant share of consumers are willing to bank with the institutions — financial or otherwise — that offer them the best spending and money management tools.”. The highest interest is among “bridge millennials” whose card spend averages $40,000 annually. Mobile Cards: Make or Break?

Mobile 153

Mobile Cards social media Survey 153

PYMNTS

SEPTEMBER 15, 2020

Anecdotal evidence has shown that the digitization of consumer habits began the day stay-at-home orders effectively shut down in-person interaction in the real world. That number climbs to 38 percent among baby boomers, 74 percent for Generation Xers and 85 percent for millennials and Generation Z consumers.

Fintech 224

Fintech Idaho Apple Google 224

PYMNTS

MAY 28, 2019

“The personalized, proactive and predictive nature of Erica’s guidance is what will continue to make the solution unique and powerful,” said David Tyrie, the head of advanced solutions and digital banking at Bank of America.

America 135

America Millennials Digital Banking Capital 135

PYMNTS

NOVEMBER 27, 2019

But in an interview with PYMNTS, Jeremiah Lotz, managing vice president of digital experience and payment products at PSCU , said CUs can leverage a number of advantages (not attached to how much money is in the till) to cement long-lasting relationships with members. Increasingly, technology itself promotes a personalized experience.

Innovation 215

Innovation Millennials Technology Examples 215

PYMNTS

SEPTEMBER 3, 2020

Many of these smaller firms, he said, did not have individual, digitized payment experiences woven into their overall operating infrastructures before the pandemic hit. The great digital shift has also had a ripple effect on the classic B2B model, particularly on supply chains, said Cole.

Payments 262

Payments Security Millennials Retail 262

CB Insights

JULY 25, 2019

Fintech is often associated with digital tools targeted at tech-savvy millennials. Download the free report to find out how fintech is shaping the future of wealth management and investing. Money management tools are helping people stay independent. Estate planning gets a digital makeover. Table of contents.

Millennials 73

Millennials Fintech Tools Fraud 73

PYMNTS

DECEMBER 21, 2016

The December edition of the Digital Banking Tracker™ details how financial institutions are working to help their consumers stay in good fiscal shape next year. Meanwhile, FinGo and eWise are also offering a new app to help millennial customers manage multiple bank accounts from a single screen.

Mobile 100

Mobile Report Digital Banking Exercises 100

PYMNTS

NOVEMBER 24, 2020

Ukrainian bank UKRSIBBANK, part of BNP Paribas Group, is teaming up with Dreams , a financial wellness FinTech startup based in Sweden. Rosvall added that its “mission of helping millennials save more and feel better about their money” makes Dreams an “ideal” partner.

Fintech 131

Fintech Millennials Groups Software 131

PYMNTS

AUGUST 13, 2020

consumers don’t exactly love the paper check — roughly 38 percent report that they’ve stopped using them entirely, and that shoots up to almost 50 percent when talking about millennials. Historically, that’s been challenging for businesses, because it requires the payor to manage multiple payment methods,” she said.

Cards 202

Cards Strategy Digital Strategies Examples 202

PYMNTS

MARCH 18, 2020

percent of consumers noted they would switch financial institutions (FIs) for a better financial app, a number that jumps up to 41 percent among bridge millennials. Meanwhile, 28.5 About half the FIs Ondot deals with, VB said, “get it” the minute they walk in the door.

Cards 217

Cards Tools Mobile Google 217

NCR

JUNE 21, 2016

According to a recent study , all four of the leading banks are among the ten least-loved brands by Gen Y, and one in three millennials revealed they’re open to switching financial institutions in the next 90 days. Millennials don’t like traditional banks and don’t see any stark differences between them.

Millennials 45

Millennials Data Study Digital Banking 45

PYMNTS

SEPTEMBER 15, 2020

In today’s top news in digital-first banking, Goldman Sachs has launched a personal finance offering for customers of average means, and Franklin Templeton’s Singapore subsidiary has joined forces with Razer Fintech. Goldman’s Marcus Adds Personal Finance Management Tools. Plus, First Horizon National Corp.

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Tools Fintech Tennessee National 131