Bank Innovation

JULY 11, 2018

Citizens Financial Group joins the latest band of established FIs in launching its version of a digital-first bank called Citizens Access.

Groups 225

Groups Millennials Digital Banking Operations 225

PYMNTS

JUNE 1, 2020

Customers still expect speedy and convenient service as usual, meaning financial institutions (FIs) are racing to support an expanding number of digital transactions without adding any friction. These banks must also make sure they are providing the tools that primarily digital customers need to complete their personal banking needs.

Digital Banking 136

Digital Banking Delaware Tools Mobile 136

PYMNTS

JANUARY 31, 2018

In online banking, 40 percent abandonment is … intolerable. As many as four in 10 consumers have at some point in their journey into online banking found the process frustrating enough to give up, as estimated by Signicat. In life, 40 percent of anything is a lot. And the frustration level has grown.

Online 153

Online Security Mobile Course 153

PYMNTS

JANUARY 3, 2020

In late June, the Monetary Authority of Singapore (MAS) sent a ripple through the global financial services ecosystem with the announcement of its intention to issue five digital bank licenses to eligible applicants. Only two of the licenses will full digital banking licenses, while the other three will be wholesale banking licenses.

Digital Banking 130

Digital Banking Groups Regional Mobile 130

Accenture: Banking

APRIL 26, 2017

For years, we’ve heard people proclaiming the demise of the bricks-and-mortar bank branch, supposedly swept away by customers’ mass-migration to online and—increasingly—mobile alternatives. But as our latest UK banking consumer survey— Beyond Banking —confirms, there’s still plenty of life in the bank branch.

Millennials 277

Millennials social media Innovation Study 277

PYMNTS

MAY 23, 2019

Digital banking is not the main element that drives consumers toward using a credit union. However, as Lumin Digital President Jeff Chambers told Karen Webster in a recent conversation, that doesn’t mean the digital banking experience isn’t critical to credit unions’ relationships with their members.

Online 123

Online Millennials Digital Banking Maine 123

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

JANUARY 14, 2021

Restrictions on in-branch interaction are now causing financial institutions (FIs) to better engage with consumers and offer personalized banking experiences with mobile apps, online chat and contextual video content.

Video 224

Video social media Millennials Data 224

PYMNTS

SEPTEMBER 12, 2019

Online bank Aspiration, which has a socially conscious mission, recently announced it would give customers 3 to 5 percent back on purchases from socially conscious brands, according to a report by Bloomberg. Andrei Cherny, who co-founded the company in 2015, was a former speechwriter for Al Gore and Bill Clinton.

Online 135

Online Branding Millennials California 135

PYMNTS

JANUARY 19, 2021

Researchers found that FIs offering “innovative options such as interactive and contextually relevant video content stand to improve engagement and customer experience, especially among younger generations like bridge millennials and millennials.”.

Study 196

Study social media Millennials Retail 196

PYMNTS

JULY 25, 2019

Banks need to innovate faster and further when it comes to the technology they use on their online platforms, as to stay one step ahead of bad actors with access to the same technology. Banks need to make sure they’re using tech in ways that keep the fraudsters out, but don’t send customers looking for another service.

Digital Banking 176

Digital Banking Innovation Fraud United States 176

Accenture: Banking

MAY 7, 2019

This got me thinking—in the Instagram and Facebook era of instant online gratification, just how important is the ability to create a relationship with a bank at the swish of your mobile? And it’s not just millennials who are thinking of jumping ship. However, this isn’t just a frustration for your average millennial.

Customer Experience 225

Customer Experience Online Millennials social media 225

NCR

AUGUST 14, 2017

It can be tempting to view online banking as the inevitable future of the sector. For many people, digital services are not only their preferred way of managing their finances, but the only way. Yet despite the rush towards online services, banks shouldn’t forget that not all their customers will be on board with this.

Online 85

Online United States Millennials Digital Banking 85

PYMNTS

JUNE 19, 2020

Ranchere said challenger banks’ target market of millennial consumers have simply amassed fewer assets than their baby boomer parents have, as younger customers are less likely to have investment accounts or own homes. And [that] opens the question around: ‘How long does it take for your relatively young customer base to catch up?’”.

Digital Banking 142

Digital Banking Payments Tools Branding 142

PYMNTS

FEBRUARY 13, 2020

That’s a challenge, as banks have traditionally plied their trade through face-to-face interactions. The conversation came against a backdrop where NCR has been moving more deeply into mobile and online banking. Looking At Open Banking. Here, geography plays a role. As Brown said, “In markets such as the EU and the U.K.,

Millennials 231

Millennials Digital Banking Mobile Course 231

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. Armistead also spoke to the lesson the bank is learning from smartphone apps to better serve its customers online and in brick-and-mortar locations.

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

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. Lesher said a few key features comprise a modern, digital-first offering.

Cards 224

Cards Mobile Community Bank Community 224

PYMNTS

SEPTEMBER 15, 2020

Necessity being the mother of invention, consumers rapidly reset their lives around digital across the board — from working to shopping to learning to managing their financial lives online. 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

JUNE 21, 2017

June’s PYMNTS Digital Banking Tracker™ looks at the latest trends in the digital banking space, including efforts by banks and FinTechs to give consumers new insights into their finances and the latest developments on the path toward Open Banking. In the U.K., consumers billions of pounds each year.

Report 131

Report Digital Banking Millennials Fraud 131

PYMNTS

MARCH 2, 2020

It’s one of the themes explored in the February 2020 Digital-First Banking Tracker® , done in collaboration with NCR Corporation. We’ve all heard that millennials, for example, think of bank branches as a vestiges of another century with little relevance to their financial lives. Turns out that’s inaccurate. In the U.K.,

ATM 191

ATM Millennials Retail Video 191

Abrigo

OCTOBER 21, 2019

To further cultivate an innovative mindset at your institution, your bank or credit union may look to add new talent – younger talent, in particular. I’ve found that attracting younger, millennial talent is almost like attracting clients,” said McBay. Technology, like banking, isn’t “one-size-fits-all.”

Millennials 218

Millennials Oklahoma Innovation Technology 218

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

Accenture: Banking

JUNE 16, 2017

Banks across the world are continuing to invest heavily in robo-advisery services, seeing them as a way to deliver personally tailored financial information and guidance at high scale and relatively low marginal cost. In contrast, fewer than half feel they need human guidance on using their bank’s online and mobile services.

Millennials 188

Millennials Maine Study Security 188

PYMNTS

JULY 1, 2020

Despite the surge in mobile payments and online banking , no one is predicting the disappearance of traditional banks and their brick-and-mortar branches. . The rate rises to 60 percent among bridge millennials, those between the ages of 30 and 40. . The results? This prospect represents risks and opportunities for FIs.

Survey 183

Survey Cards Millennials ATM 183

PYMNTS

MAY 1, 2020

Debit has been riding a wave of popularity for years as credit-averse millennials and their cohorts became big spenders, but didn’t want to end up like their overextended parents did in 2008. The COVID-19 pandemic has consumers around the world turning to digital devices to access banking services,” the report states.

Guidelines 131

Guidelines Digital Banking Millennials Online 131

PYMNTS

NOVEMBER 27, 2019

That’s especially true as millennials come up through the ranks, and are both comfortable and confident in using technology. That level of understanding can translate into a digital experience that revolves around, and satisfies, the desire for self-service options. Increasingly, technology itself promotes a personalized experience.

Innovation 215

Innovation Millennials Technology Examples 215

PYMNTS

SEPTEMBER 3, 2020

Beyond the wholesale shift to digital payments, Cole told PYMNTS in a recent interview, there are pockets of growth that are seeing more digital acceleration than others as lockdowns linger and businesses reopen on a staggered basis. As he told PYMNTS, “Payments behavior is generational.”.

Payments 262

Payments Security Millennials Retail 262

Bank Innovation

OCTOBER 26, 2018

Bank of the West recently added 143 ATMs across the Denver and Sacramento metro areas through an agreement with ATM operator Cardtronics. Millennials, actually. One target?

ATM 150

ATM San Francisco Sacramento Denver 150

PYMNTS

JUNE 9, 2020

“Whether it’s messaging or it’s true innovation, these challenger banks are making inroads in building a consumer base,” Chambers told Webster. Conversely, challenger banks’ data-driven, in-house-built, advanced-technology-underpinned platforms can, in effect, predict what consumers will want. “If Leveraging CU Assets.

Digital Banking 133

Digital Banking Millennials Lending Marketing 133

PYMNTS

SEPTEMBER 10, 2018

Millennial Appeal. Millennial Appeal. Sandler O’Neill Analyst John Barnidge told the news service that LINK by Prudential could appeal to millennial consumers, who have “large purchasing power … and do not value agent relationships as much as previous generations.”. Direct-to-consumer activity is becoming ever more digital.

Industry 100

Industry Millennials Online Video 100

Accenture: Banking

OCTOBER 3, 2017

Based on this survey of over 2,000 consumers, it’s clear that online retailers, tech firms and social-media players face an uphill battle to convince consumers to allow them access to their financial data. Especially since over half of them say they’ll never change their banking habits and adopt open banking. So why not?

social media 156

social media Millennials Online Fraud 156

PYMNTS

AUGUST 7, 2019

This time around, according to the site, the banks will commence the second phase by October of this year, and there already exists collaboration between banks and FinTechs for the exchange of data and various financial services functions. As reported earlier this year, Hong Kong regulators awarded three digital banking licenses.

Digital Banking 129

Digital Banking Fintech Millennials Data 129

PYMNTS

NOVEMBER 30, 2020

How can banks better communicate the benefits of location sharing — and its vast potential to combat fraud — to customers who are on the fence? This is one of the many questions we sought to answer in Location, Location, Location: How Location Data Can Help Banks Prevent Online Fraud , a PYMNTS and GeoGuard collaboration.

Fraud 171

Fraud Data social media Millennials 171

PYMNTS

FEBRUARY 14, 2020

Speed matters for FinTechs aiming to bring new products to market digitally and to target consumers not well served by traditional banking models. In fact, more online payments mean merchants have less cash in the till. Reynolds CEO: Recreating Grocery’s Home Goods Aisle For The Millennial.

Retail 141

Retail Cards Millennials Fraud 141

CB Insights

JULY 25, 2019

Fintech is often associated with digital tools targeted at tech-savvy millennials. While many Boomers and senior citizens may not be aware of the wide variety of fintech services available to them, such as digital banking, a number of tools exist that aim to raise awareness. . Cake is another online estate planning tool.

Millennials 73

Millennials Fintech Tools Fraud 73

PYMNTS

JUNE 7, 2017

“Bill payments and person-to-person payments from mobile pay devices are making their way toward the mainstream, while digital wallets are showing slow but steady growth reminiscent of the early days of online banking.”.

Survey 115

Survey Mobile Millennials Cards 115