PYMNTS

SEPTEMBER 17, 2019

A 5G network could markedly improve mobile banking apps’ speed, security and ease of use. Mobile banking apps have already enjoyed mass adoption, but what are consumers using them for? And, perhaps more importantly, what do they want from digital banking apps that they aren’t currently getting? Most consumers (78.1

Mobile 187

Mobile Millennials Study Digital Banking 187

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. The latest evidence of that comes from Europe.

Digital Banking 139

Digital Banking Google Mobile Groups 139

PYMNTS

SEPTEMBER 24, 2019

Digital banks , for one, are teaming up with technology providers to accelerate settlement times for payments collected at the point-of-sale (POS). Legacy banks are similarly at work, with one major FI seeking to beat out FinTech competition by offering same-day access to credit card deposits. Find the full story in the Tracker.

Mobile 246

Mobile Payments Apple Millennials 246

PYMNTS

JULY 25, 2019

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. In the July Digital Banking Tracker , PYMNTS examines how banks are using tools like artificial intelligence (AI) and automation to both fight against fraud and better engage customers.

Digital Banking 176

Digital Banking Innovation Fraud United States 176

PYMNTS

MAY 1, 2020

It has always been important for CUs to understand members’ banking habits and adapt to their needs, but doing so has become all the more imperative during the ongoing COVID-19 pandemic. Many CUs are doubling down on their efforts to digitize their services in a secure manner. ” Adapting To Changes.

Arizona 159

Arizona Security Cards Phoenix 159

PYMNTS

MARCH 9, 2020

According to the Cambridge English Dictionary , a bank is an institution in which people and businesses can securely store and access their money and borrow it as needed. More than half of all consumers say that having a physical branch is important for a bank to be considered their primary bank. Let’s get back to basics.

How To 232

How To Millennials ATM Fintech 232

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

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. This year alone, the Internet of Things will connect 8.4

Millennials 49

Millennials Innovation Digital Banking Security 49

PYMNTS

FEBRUARY 13, 2020

“The branch is a digital ecosystem in and of itself,” he said, “and it should be connected to the digital banking, self-service ecosystem,” as the footprint — including the ATM — is not going away. Conventional wisdom may hold that millennials want a purely self-service experience when it comes to their financial lives.

Millennials 231

Millennials Digital Banking Mobile Course 231

PYMNTS

SEPTEMBER 3, 2020

Cole said that the shift toward digital payments is also gaining a tailwind from demographic preferences — particularly among younger consumers. For members of the millennial or Generation Z cohorts who are comfortable in the app world, payment preferences boil down to choice and control. Security Is Top Of Mind .

Payments 262

Payments Security Millennials Retail 262

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. Figure 4: What do you value most in speaking to a human representative of a bank?

Millennials 188

Millennials Maine Study Security 188

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., About the Tracker.

Digital Banking 155

Digital Banking Millennials America Marketing 155

PYMNTS

APRIL 2, 2020

Competition for customers — especially millennials — from larger banks and FIs has long required credit unions to keep pace with their more innovative counterparts. This often means providing digital solutions and convenient banking options despite smaller technology and innovation budgets, however.

United States 174

United States Security Innovation Mobile 174

PYMNTS

JUNE 9, 2020

percent APY, an optional auto-deposit, no fees or minimums, and security as “Affirm Savings is FDIC-insured and accounts are held by our bank partner, Cross River Bank, member FDIC,” per the announcement. The Affirm Savings account comes with 1.30 As a result, it claims that many hope to steer clear of them.

FDIC 151

FDIC Millennials Google Payments 151

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

SEPTEMBER 15, 2020

That number climbs to 38 percent among baby boomers, 74 percent for Generation Xers and 85 percent for millennials and Generation Z consumers. Kikkeri said this is the highest penetration that mobile banking has ever seen among consumers. But an opportunity is only as good as the bank’s ability to pursue it.

Fintech 224

Fintech Idaho Apple Google 224

PYMNTS

FEBRUARY 26, 2019

Though banks want to bring customers into the digital fold (it saves time and money, and, after all, 58 percent of consumers prefer digital banking to other methods), there will always be a need to serve them across physical locations, too. The goal for financial services, then, is a unified service model.

Mobile 181

Mobile Examples Millennials Digital Banking 181

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. Figure 4: What do you value most in speaking to a human representative of a bank?

Millennials 153

Millennials Maine Study Security 153

PYMNTS

JANUARY 31, 2018

Lagging behind digital-only banks, traditional banks must look to streamline and offer a frictionless mobile experience to their user base. According to Hochrieser, “Digital banks are focused on mobile only, and so their only purpose is to provide the best possible user experience.”

Online 153

Online Security Mobile Course 153

PYMNTS

JUNE 27, 2019

For better authentication, financial institutions (FIs) are experimenting with artificial intelligence (AI) and biometrics, attempting to create security measures that don’t frustrate consumers. In the latest Digital Banking Tracker™ , PYMNTS examines how banks are innovating to address these security vulnerabilities.

Customer Experience 109

Customer Experience Digital Banking Innovation Security 109

PYMNTS

APRIL 18, 2017

From selfie authentication to finance tools that respond to emojis to computer-generated avatars that look and act like real people, new technological tools are giving digital banking a makeover. The April PYMNTS Digital Banking Tracker™ looks at the various ways technology is changing the digital banking landscape.

Report 110

Report Digital Banking Tools Technology 110

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

FEBRUARY 14, 2020

The consumer bank will be divided into one section focused on consumer lending, and the other on branches and small businesses. Is No-Factor Authentication Digital Security’s Future? Speed matters for FinTechs aiming to bring new products to market digitally and to target consumers not well served by traditional banking models.

Retail 141

Retail Cards Millennials Fraud 141

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

Cards 217

Cards Tools Mobile Google 217

PYMNTS

APRIL 4, 2019

And by all accounts, this digital migration is driven by consumer preference — according to the same study, 91 percent of mobile banking users prefer accessing their app over going to a physical branch, and 68 percent of mobile banking millennials believe their smartphones will eventually replace their physical wallet.

Mobile 169

Mobile Study Security social media 169

PYMNTS

DECEMBER 28, 2018

It may come as no surprise to readers that, when asked about what influences the use of one payment method over another, credit union (CU) customers said it comes down to convenience and security. I don’t want to experience any friction, but I want full security,” he said. Making Security Stronger And More Subtle.

Mobile 131

Mobile Fraud Security Cards 131

PYMNTS

JANUARY 19, 2021

PYMNTS has found that 55 percent of millennials say they would switch to an FI that uses geodata to enhance the security of users’ accounts. That number is even higher for those individuals who earn higher wages – and taken together, higher earners and younger demographics are the sweet spot of banks’ customer bases.

Data 227

Data Fraud Los Angeles Compliance 227

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

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. . get the REPORT on next generation investors.

Millennials 73

Millennials Fintech Tools Fraud 73

Banking 2020

APRIL 3, 2015

Why biometrics will go hand in hand with the wearables revolution: As wearables grow in popularity, the security of these devices will continue to be a hot topic and biometrics may be just in time to provide a solution. Designing a digital bank: What are millennials looking for in their financial institution?

Digital Banking 40

Digital Banking Millennials Security Branding 40

PYMNTS

AUGUST 5, 2016

He noted that the effects could already be seen in Bank of America’s employment figures. That could mean plenty of savings for banks in the coming years, according to the latest PYMNTS.com Digital Banking Tracker. It’s more secure and more safe if people are carrying less cash,” Moynihan said.

Payments 100

Payments America Millennials Digital Banking 100

PYMNTS

JANUARY 24, 2020

percent) think bank apps should be easier to use. Six Sides of the Bank App Persona. For one thing, at least six distinct consumer personas have evolved around mobile banking –from “infrequent users with little control” up to “frequent users with full control.” A smaller but very meaningful cohort (17.2 Fair enough.

Mobile 166

Mobile Fraud Millennials Security 166

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. It’s one thing to have a limited electronic option available — that’s quite different than having a strong digital strategy.”.

Cards 202

Cards Strategy Digital Strategies Examples 202

Accenture: Banking

OCTOBER 3, 2017

By contrast, more than half of British consumers said they would trust only their own bank with their account information when seeking services like a better mortgage rate or savings account. This should be music to the ears of UK bank executives. Banks have to encourage a cultural shift from the outset. The overriding priority?

social media 156

social media Millennials Online Fraud 156

PYMNTS

APRIL 10, 2020

The advent of the digital age means that, say, a millennial opening that bank account can receive products or services from their FI that touch on financial well-being and educational services. First and foremost is the fact that banks have higher hurdles in authenticating and verifying consumers.

Examples 168

Examples Mobile Security Technology 168

PYMNTS

JULY 7, 2020

Using credit cards (aka spending the bank’s money instead of your own) seemed so cool — until it suddenly wasn’t nearly as cool anymore. The June 2020 Next-Gen Debit Tracker® examines the current state of debit in numerous contexts, perhaps none so important as guaranteeing great consumer experience and security.

Cards 135

Cards Millennials Conference America 135

Accenture: Banking

SEPTEMBER 22, 2019

Neo-challenger banks have several advantages over their traditional counterparts—including having lower operational costs, because their tech stacks are cheaper to run, and offering a tailored online experience that appeals to Millennials. What the future holds.

Innovation 150

Innovation Metro Apple Marketing 150