PYMNTS

MARCH 9, 2020

But given the rise of neobanks — FinTechs that are using banking services as the foundation for new ecosystems and Big Tech, which is exploring ways to extend their reach into banking and financial services — we thought we’d go back to first principles and ask consumers that simple question in relation to their primary banking relationship.

How To 232

How To Millennials ATM Fintech 232

PYMNTS

JUNE 1, 2020

Banks today are familiar with the challenges of supporting digital platforms as an increasing number of customers turn to online-only solutions. One study found more than 45 percent of millennial users, for example, have at least considered leaving their FIs and signing up with fully digital banks.

Digital Banking 136

Digital Banking Delaware Tools Mobile 136

PYMNTS

MAY 4, 2017

The Cardtronics executives noted that the studies are not all that surprising, and where once the findings reflected increasing cash adoption across, say, Europe, recent research has borne out the same trends in Europe and the Americas. ATM access is critical for some services, as 55 percent of small businesses in the U.S. do not accept cash.

ATM 192

ATM Millennials United States Study 192

PYMNTS

SEPTEMBER 17, 2019

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? Breaking down mobile banking app activity by generation reveals distinct differences. percent of Generation Z and 55.2

Mobile 187

Mobile Millennials Study Digital Banking 187

PYMNTS

JANUARY 14, 2021

Our findings also indicate FIs that offer innovative options such as interactive and contextually relevant video content stand to improve engagement and customer experiences, especially among younger generations like bridge millennials and millennials.

Video 224

Video social media Millennials Data 224

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

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

FEBRUARY 25, 2020

Banks and legacy financial institutions (FIs) might be wise to study what disruptive technologies recently did to the print publishing industry, taxi cabs, network TV, and a host of other businesses that were disintermediated with little to no warning in recent years. And in surveys at least, they don’t exhibit much loyalty to FIs.

Mobile 153

Mobile Cards social media Survey 153

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

MARCH 2, 2018

Despite incentives, a new study found debit cards appear to be more popular than credit cards, especially among younger customers. For millennials, these cards simply don’t induce the same debt-based anxieties as credit cards. Winning the millennial market. The terms of their programs vary, generally giving customers between 0.5

Millennials 101

Millennials San Diego Cards Retail 101

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

APRIL 4, 2019

Consumers’ preferences are undeniably shifting digitally when it comes to banking and financial services. According to a recent study by Citibank , 31 percent of consumers use their mobile banking app more than any other — placing mobile banking behind only social media and weather for most frequented mobile destinations.

Mobile 169

Mobile Study Security social media 169

PYMNTS

JULY 1, 2020

The rate rises to 60 percent among bridge millennials, those between the ages of 30 and 40. . A global banking study revealed that only two-thirds of banks planned to invest in technology that would help them “acquire, engage and retain customers,” the report noted. The results?

Survey 183

Survey Cards Millennials ATM 183

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

CB Insights

JULY 25, 2019

Fintech is often associated with digital tools targeted at tech-savvy millennials. They make up close to 25% of the total US population and are by far the wealthiest generation — and will continue to be so until at least 2030, according to a 2015 Deloitte study. . get the REPORT on next generation investors.

Millennials 73

Millennials Fintech Tools Fraud 73

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

JULY 18, 2019

As noted in the study, larger financial institutions outpace smaller brethren when it comes to grabbing market share, largely through the competitive advantage of hefty IT budgets that get new products to market with haste. As millennials rise through the ranks and within the ranks, we see the rise of what he termed “digital natives.”.

Innovation 155

Innovation Study Technology Millennials 155

PYMNTS

NOVEMBER 18, 2019

The results of several PYMNTS studies over the last year seem to support this idea. As we reported in early September as part of our annual How We Will Pay study done in collaboration with Visa, Google ranks No. In July of 2019, PYMNTS released its own study of U.S. In July of 2019, PYMNTS released its own study of U.S.

Google 177

Google Study Payments Branding 177

PYMNTS

NOVEMBER 30, 2020

This is especially true for Generation X and millennial consumers, at 37 percent and 36 percent, respectively. We also found that there is good reason for card issuers to provide location sharing-based fraud protection.

Fraud 171

Fraud Data social media Millennials 171

Gonzobanker

JULY 25, 2024

.” National providers—banks, fintechs (e.g., Paypal, Square) and even merchants—are chipping into (geographically based) community institutions’ payments, lending and banking businesses. 2) Generational changes When baby boomers graduated college, their question was, “Which bank should I open an account with?”

Community Bank 143

Community Bank Community Lending Maine 143

PYMNTS

OCTOBER 6, 2017

A recent whitepaper by Cardtronics , in partnership with Edelman Intelligence for its 2017 Health of Cash study , has been titled “ In a Digital World, Cash is Resilient.” That study, the third annual, surveyed 1,000 adults across the United States. That environment renders digital banking inaccessible.

United States 119

United States Study Cards Payments 119

NCR

JULY 5, 2017

Finding the right balance between physical and digital channels and approaches to banking is crucial for providers wanting to guarantee the highest possible levels of satisfaction for their customers – particularly in the millennial age group. Combining the physical and the digital.

ATM 81

ATM Customer Experience Millennials Tools 81

PYMNTS

JUNE 22, 2016

“This year’s report demonstrates the growing reliance on our mobile devices to navigate daily life and manage our finances, including significant growth in mobile banking and emerging payments,” Michelle Moore, head of digital banking at Bank of America, said in a press release announcing the study’s results.

America 101

America Payments Mobile Survey 101

PYMNTS

JUNE 7, 2019

As Mastercard has found in a recent study, only 25 percent of online merchants were aware of SCA requirements, and of that tally 24 percent said they have no plans to support the requirements by the deadline. In terms of readiness, that study found that only 40 percent of businesses aware of SCA felt prepared to meet its requirements.

Fintech 101

Fintech Study Online Retail 101

PYMNTS

DECEMBER 28, 2018

Looking at the results of the CUs recently commissioned Eye on Payments study, consumers expect more heading into 2019, and meeting those expectations will be about more than advanced technology alone. The largest banks in the world are investing tens of millions in enhancing their digital banking experiences,” Pierce said.

Mobile 131

Mobile Fraud Security Cards 131

PYMNTS

JANUARY 2, 2017

The most recent Tracker featured several virtual reality (VR) headlines, as a study from Augment found that VR and augmented reality (AR) have the potential to transform the online retail industry, and the online retail player seemed to embrace the news, debuting a home design VR app. DIGITAL BANKING TRACKER.

Retail 123

Retail Millennials blockchain Mobile 123

Celent Banking

SEPTEMBER 9, 2015

but even if only a few manage to become sizable competitors, that still represents a significant threat to banks´ existing revenue streams. A study from Ipsos MediaCT and LinkedIn showed that 55% of millennials and 67% of affluent millennials are open to using non-FS offerings for financial services.

Millennials 100

Millennials Fintech Industry Bitcoin 100

Independent Banker

AUGUST 9, 2016

Banking customers are no different. Statistics are especially compelling for those trying to attract and maintain the millennial segment. This “bank, buy, redeem local™” approach is a winning solution for all involved. The full study can be read here. Consumers Say More Rewards Is Their Top Demand from Banks.

Community 70

Community Millennials Community Bank America 70

Gonzobanker

APRIL 3, 2019

It’s not a “Millennial thing.” According to a recent study by Ellie Mae, 92% of all home borrowers research online before applying. Here are six ways financial institutions can prepare to better connect with customers who are nearly all digital-first now. It’s now the primary way the purchasing process begins, if not finishes.

social media 96

social media Exercises Millennials Training 96

PYMNTS

SEPTEMBER 3, 2018

As many as 58 percent of gig workers to do not want a full-time job, our studies find. But the travel industry itself, in serving companies and leisure-oriented consumers, can get a boost in streamlining travel payments and their own operations, a key finding of our Travel Payments Study. percent a year ago. and the U.K.)

Mobile 100

Mobile Course Digital Banking Survey 100

PYMNTS

NOVEMBER 29, 2016

Fed Reserve study, consumers tend to pick product offerings that are well-differentiated and offer value beyond other alternatives. They need to be relevant to millennials, who spend an average of 14.5 As lucrative as that growth may seem, seizing it is an entirely different ball game for financial institutions.

Report 100

Report Millennials Retail America 100

Gonzobanker

JULY 27, 2018

A Fiserv study revealed that 44% of customers prefer to do routine transactions with tellers at a branch rather than online. The most recent Cornerstone Performance Report shows that 90% of accounts are still opened in branches (a number that has been corroborated in other studies). Another J.D. I don’t buy it. And the next J.D.

Study 74

Study Survey Millennials Online 74

Independent Banker

OCTOBER 29, 2014

But how far are they willing to go to do their banking on small mobile devices? A consensus says that the future banking customer relationships—particularly for millennial consumers—will orbit to one degree or another around mobile technology. s entry into the payments business with Apple Pay. Katie Kuehner-Hebert.

Mobile 105

Mobile Community Bank Community Technology 105

FICO

FEBRUARY 12, 2023

Home Blog FICO Top 5 Customer Development Posts of 2022: Digital Banking and Pricing Opti The most popular posts in our Customer Development category dealt with digital banking, optimizing credit line increases, loan pricing and machine learning for credit risk models. What can financial institutions learn from TikTok?

Digital Banking 52

Digital Banking eBook Analytics Customer Experience 52

FICO

DECEMBER 5, 2022

Top 5 Surprises from FICO’s Fraud and Digital Banking Survey. Financial Institutions, such as banks, have expended great effort to improve digital security, yet bad actors are multiplying and attacks have increased in scope and frequency. FICO Admin. Tue, 07/02/2019 - 02:45. by Sarah Rutherford. expand_less Back To Top.

Survey 52

Survey Fraud Digital Banking social media 52

The Financial Brand

FEBRUARY 9, 2020

Shift is powered by Millennials' love of interactive mobile banking tools. Biggest banks have clear edge over regionals, consumer study shows. The post Digital Overtaking Branches as the Place Consumers Get Advice appeared first on The Financial Brand.

Millennials 39

Millennials Regional Study Tools 39

PYMNTS

JULY 9, 2018

A study published earlier this year by USC Annenberg reports that consumers now spend 24 hours a week online; 82 percent of that time is online via a mobile device — playing games, stalking friends, sending texts and looking for things to do, places to go, things to buy.

Strategy 105

Strategy Millennials Online Innovation 105