How to go beyond the mobile app during the transition to digital banking
Payments Dive
OCTOBER 4, 2019
The successful transition to mobile banking requires a seamless, intuitive user experience built into a mobile app.
Digital Banking Mobile User Experience 
Increasing Digital Banking Options Put Pressure On Big Lenders To Adapt
PYMNTS
OCTOBER 6, 2020
We’re a mobile app, and that’s how we deliver our services.”. Of course, the pandemic has forced banks – like all businesses – to rethink their priorities and make adjustments to how they interface with customers. billion people – will likely be using online and mobile banking services by 2024. On Monday (Oct.
Digital Banking 
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Trending Sources
The growing interest in digital banks
Insights on Business
APRIL 28, 2017
Traditionally, banking was a conservative industry with relatively high barriers to entry. Banking products and services were defined and controlled by the bank. At the same time, regulators in many countries also have relaxed regulations to encourage innovation in the banking industry.
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NEW DATA: 43M Consumers Are Holding Out On Mobile Banking Apps — How Banks Can Change Their Minds
PYMNTS
NOVEMBER 17, 2020
Not only are many account holders visiting brick-and-mortar branches less often than they did before the pandemic, but many are also more reliant on digital banking channels — particularly mobile banking apps — than they have ever been. percent more likely to use mobile banking apps now than they were in 2019, and 51.1
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Mobile Banking’s Authentication Game-Changer
PYMNTS
OCTOBER 7, 2020
But by and large, with branch activities curtailed and lingering public health fears in place, banks have to offer a uniform, consistent and safe experience to all users, across all types of (online) interaction.
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Super Apps Rising: Mobile Drives Digital Payments Uptick In Pakistan
PYMNTS
FEBRUARY 2, 2021
In Pakistan, and elsewhere, the stars are aligning for greater use of digital banking and payments to improve financial inclusion. told PYMNTS CEO Karen Webster in an interview that the pandemic and the rise of mobile infrastructure have set the stage to bring people living in developing and emerging economies into the digital realm.
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In Digital Banking Age, Personal Touch Still Matters
PYMNTS
OCTOBER 7, 2016
The personal touch should be just that — personal — Fossella told PYMNTS’ Karen Webster and is one that can, and should, build upon the relationship already in place at a physical bank branch. Against that backdrop, the customer experience matters at small to mid-sized banks and can be a key differentiator in the customer’s mind.
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Entersekt Teams With Cellulant For More Secure Digital Banking
PYMNTS
NOVEMBER 24, 2020
South African digital identity firm Entersekt is partnering with African FinTech Cellulant to bring enhanced cybersecurity to mobile banking and digital payments. . The two companies are collaborating to integrate Entersekt’s mobile software development kit with Cellulant’s product stack. .
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Hollywood’s Newest Special Effect, Digital Banking?
PYMNTS
APRIL 19, 2017
From phone support and mobile apps to ATMs and chatbots — when it comes to customer service, banking automation has come a long way. However, the one missing piece that these automated banking features lack is a real human being to interact with during a transaction. About the Tracker.
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New Canadian Digital-Only Bank Banking On User Experience
PYMNTS
APRIL 22, 2016
The challenge for the bank will be remaining competitive when the interest rate is ultimately dialed back and the offering itself – namely its features and user experience — need to steer the ship. The focus for us has to be customer experience,” Dickinson explained of the pause due to speed of growth.
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Radius Bank Goes Mobile For Micro-Businesses
PYMNTS
DECEMBER 18, 2018
Virtual bank Radius Bank — which services small businesses (SMBs), micro-firms and consumers — is rolling out a revamped digital banking platform and a mobile banking app, the company said on Monday (Dec. The platforms have added new digital solutions for financial budgeting and tracking as well.
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Is Stand-Alone The Future Of Digital Banking?
PYMNTS
APRIL 21, 2016
As the world goes increasingly digital, banks are struggling to decide how they should package their digital service offerings. Should they fold digital banking services into their existing traditional brick-and-mortar accounts, or spin them off into stand-alone, digital-only entities? Why spin out?
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Samsung SDS Partners On Mobile Payments Solution
PYMNTS
MAY 3, 2016
Infosys Finacle, part of EdgeVerve Systems, and Samsung SDS, a subsidiary of Samsung Electronics, announced a new partnership aimed at providing consumers with a frictionless mobile banking/payment solution. Customers are becoming far more accustomed to accessing and spending their money via mobile.
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Tencent WeChat and WeChat Pay
Chris Skinner
JUNE 2, 2017
“EVERYTHING IS WITH USER VALUE IN MIND. THE VALUE TO THE USER IS THE FIRST PRIORITY.” IN THE SAME WAY THAT AMAZON IS RELIGIOUS ABOUT THEIR CUSTOMER EXPERIENCE. TENCENT IS RELIGIOUS ABOUT THEIR USER EXPERIENCE. DOESN’T EVERYONE IN CHINA USE WECHAT? EXPECT WIDE NEGATIVE MEDIA COVERAGE.
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Banking-As-A-Service (BaaS) Making Payments Faster And ‘Smarter’
PYMNTS
NOVEMBER 13, 2020
Looking at the plight of migrant workers and those working abroad during the COVID event, PYMNTS November 2020 Smarter Payments Tracker® powered by Nium notes that, “Legacy FIs can struggle to provide affordable remittance services that meet migrant workers’ needs, and their dependency on correspondent banking networks can drive up service costs.
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259 Using intuitive interfaces for contextual commerce
Chris Skinner
APRIL 29, 2016
As we start to reimagine the bank, it is obvious that focus on the platform design and user experience is key, as demonstrated by YouTube. A second key factor is recognising that the world has changed thanks to the mobile network. We probably go yea, yea, yea when we talk about mobile, as we’ve all …
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N26 Rolls Out US Mobile Banking
PYMNTS
JULY 11, 2019
subsidiary of N26 GmbH, which was described in an announcement as one of the fastest growing mobile banks in Europe. CEO Nicolas Kopp said in the announcement, “We’re very excited to bring our experience to U,S. In Europe, we’re loved for our effortless and sleek user experience, with no hidden fees.
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Factors Driving Consumer Demand For Banking App Controls
PYMNTS
SEPTEMBER 13, 2019
percent saying they believe the security of transactions being made via mobile banking apps would be stronger if they had greater control over those apps’ authentication requirements. Despite widespread demand for greater mobile banking authentication controls, only 39.9 percent) or using mobile card controls (63.5
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Why The Future Of Corporate Banking Is All About Connectivity
PYMNTS
DECEMBER 3, 2020
For all of the innovation that's occurred in the banking landscape, it's often consumers – not corporates – that benefit from the latest technologies. When you look at retail banking, there have been a couple of newcomers in the market in recent years who come in with shiny, new apps," he said. The Drive To Upgrade.
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How Apple Card Brings ‘Existential Crisis’ To Smaller FIs
PYMNTS
OCTOBER 4, 2019
With the recent launch of the Apple Card , Apple has sent a signal that they seek to offer a better user experience than banks. In fact, their slogan for the card is “Created by Apple, Not a Bank?.” Thus, successful banks have shifted the design of mobile banking apps beyond the confines of simply tracking spend.
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Deep Dive: How FIs Can Secure Mobile Onboarding Without Adding Frictions
PYMNTS
JUNE 10, 2020
The need to stay at home and minimize person-to-person contact during the COVID-19 pandemic has pushed mobile banking use into overdrive. Customers are unable or unwilling to visit bank branches, instead using apps to conduct their financial activities and generating an 85 percent rise in mobile banking activity in April.
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130 How 5G Will Shake Up Banking and FinTech?
PYMNTS
DECEMBER 12, 2018
Financial institutions are in the midst of becoming more mobile, with many of those legacy operations opting to — or at least considering — working more closely with FinTech providers to upgrade services, retain customers and acquire new ones. The debut of 5G promises to add another tool that can aid such efforts. Latency Advantages.
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The New Face of Digital Banking
Celent Banking
JUNE 26, 2015
I’m just back from a very interesting week in London at the Marketforce-sponsored “The Future of Digital Banking” forum. The theme of the conference was that customer-centricity and innovation need to be the guideposts to a bank’s transformation from a bricks-and-mortar operation into a digital enterprise.
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Bank Of America Deploys Biometrics For Enterprise Mobile Banking
PYMNTS
JULY 2, 2018
This consumerization of the enterprise has emerged as a heavyweight behind corporates’ digital transformations – but businesses aren’t consumers, and emerging technologies must address unique needs while still providing a positive user experience. Take mobile banking , for instance.
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Can FinTech Walk The FinTalk?
PYMNTS
APRIL 30, 2018
Digital banks. To put that into context, the IDC projected worldwide growth and spending on mobility solutions at 15 percent a year from a 2018 base of $1.6 Marketplace lending models were about using tech to lend money while sidestepping the regulatory burdens of being a bank. Digital Banks. Blockchain.
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Reimagining The Bank As A Technology Company
PYMNTS
APRIL 10, 2020
While this strategy can yield results, it can also create silos, hampering a bank’s ability to achieve one of the most vital goals of DX: seamless integration of operations that boost efficiency and improve the end-user experience. “Banks are technology companies,” Rio Tinto recently told PYMNTS.
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Building A Better Bank, One Digital Brick At A Time
PYMNTS
JULY 13, 2016
Is it possible that a bank may someday be referred to as “beloved?” ” Mobile apps like Uber and Airbnb have changed the way mobile-centric users do practically everything, from getting a ride to finding a place to stay on vacation. Around the Digital Banking world.
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Amid Blockchain And Robotics Hype, Corporate Lenders Still Start With The Cloud
PYMNTS
APRIL 2, 2018
Consumers demand easy, digital banking, but this pressure for banks to deliver is also coming from corporate clients. Take mobile banking, which has propelled the introduction of mobile-only banks to meet demand for better services on smaller screens.
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How to Successfully Implement a Digital Solution
Gonzobanker
AUGUST 28, 2020
When Cornerstone Advisors collected data from banks for its 2019 Cornerstone Performance Report , COVID-19 was an unknown. But even then, the number of median active mobile users reported by mid-size banks had increased nearly 40 percent over Cornerstone’s prior bank study in 2017. Digital Banking is Here to Stay.
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FIs Most Underutilized Asset: Their Apps
PYMNTS
MARCH 24, 2020
Mobile banking apps are designed to make digital banking more convenient for customers, yet 21.7 So what can financial institutions (FIs) do to improve their apps’ user experience (UX), and will making these changes help boost adoption and usage?
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The Pandemic’s Push For The FI/FinTech ‘Win-Win’
PYMNTS
SEPTEMBER 15, 2020
Kikkeri said this is the highest penetration that mobile banking has ever seen among consumers. And for financial institutions (FIs), that translates into an incredible opportunity to build better digital banking journeys for their customers. But an opportunity is only as good as the bank’s ability to pursue it.
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Pepper Is Teaming Up With Playbuzz To Make Mobile Banking Fun
PYMNTS
DECEMBER 2, 2016
Pepper, the mobile banking app by Israeli Bank Leumi, is aiming to lure millennials to the service by teaming up with Playbuzz, the digital authoring platform. The goal is to improve the user experience and boost engagement by providing personalized content, noted the report.
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Deep Dive: Why Video-Based KYC Is Key To Seamless, Cost-Effective FI Onboarding
PYMNTS
DECEMBER 10, 2020
Speedy, secure onboarding is vital at a time when consumers have to use digital banking to prevent health risks. adult consumers are more likely to use digital banking in response to these mandates. Video verification is one way to ensure smooth experiences and build trust. .
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Voice-Activated Tracker: Let’s Talk About Banks
PYMNTS
FEBRUARY 24, 2017
Further, insight from Javelin Strategy & Research indicates that over half of all mobile banking users across demographics have expressed interest in using voice commands as part of their digital banking experience.
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135 The Quest for Omnichannel Continues
Celent Banking
JANUARY 23, 2015
Or, that digital banking channel development and omnichannel delivery are statistically tied with customer analytics in being considered the most important technologies in delivering revenue growth. What may come as a surprise is how far most banks have to go in terms of actually delivering what they say is important.
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N26 Partners With Eurobase For Treasury Management Support
PYMNTS
NOVEMBER 25, 2019
The digital bank has raised more than $670 million from established investors, including Insight Venture Partners, GIC and Tencent. “We subsidiary of N26 GmbH, which was described in an announcement as one of the fastest-growing mobile banks in Europe. The company is a U.S.
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142 PayPal’s Real-Time Bank Transfers (And What They Mean For The Ecosystem)
PYMNTS
JUNE 21, 2017
Yesterday, PayPal announced news that soon, Venmo and PayPal users will be able to send money transfers via its mobile app in a heartbeat to anyone they want — and have the receiver access and use those funds — in a heartbeat — anywhere that Visa and Mastercard debit cards are accepted. So, anywhere.
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134 How Friendly Friction Builds Better Banking Experiences
PYMNTS
APRIL 4, 2019
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.
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Online/Digital Account Opening: A Bridge and A Moat
Abrigo
MARCH 15, 2022
Recent research shows that even consumers banking exclusively with banks that have a physical, local location have digital banks on the radar, and they make up 62% of U.S. banking consumers. Three-quarters of these “traditionalist” consumers say they are aware of digital banks.
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Telleroo Integrates B2B Payments Function For SMB Accountants
PYMNTS
DECEMBER 10, 2019
-based FinTech specializing in facilitating payments for small business accountancy firms, is partnering with BIN (bank account identification number) sponsor Moorwand to further streamline the payments experience for accountants and bookkeepers. In a press release issued Tuesday (Dec.
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131 USAA opens user experience ‘design studio’
Payments Source
FEBRUARY 13, 2017
The new office will look for ways to improve UX for customers in digital and traditional channels.
Bridging The 40 Percent Gap In Online Banking
PYMNTS
JANUARY 31, 2018
The price can be a heavy one to pay, as 31 percent of respondents reported having a negative view of their financial institution after abandoning a mobile banking activity. Lagging behind digital-only banks, traditional banks must look to streamline and offer a frictionless mobile experience to their user base.
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Open Banking Can Scale With Incentives And API Aggregation
PYMNTS
JUNE 17, 2019
Instant collections from bank accounts via open banking rails provides a significantly lower cost alternative to cards for eCommerce merchants, as an example, and hence merchants can use incentive options at their disposal as one way to promote user adoption. API Aggregation.
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Big Tech’s Big Shadow Over FIs
PYMNTS
JULY 23, 2020
That’s because card experiences “are actually daily, while mobile banking [is] maybe a weekly or a monthly experience. The depth of these experiences available in card management is so robust.”. Or at least those experiences can be robust if expanded on by FIs properly. How Banks Can Beat Big Tech.
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