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The future of money (research report)

Chris Skinner

Here are my headlines: 76% of millennials are looking for new forms of banking 40% of people in their twenties have downloaded a money management app 80% of millennials … The post The future of money (research report) appeared first on Chris Skinner's blog.

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NEW REPORT: Millennials Raise Credit Unions’ Innovation Bar

PYMNTS

In a landscape that’s fast evolving to match the needs of tech-savvy customers, credit unions are innovating to compete with larger commercial banks and FinTech firms to attract and retain customers. Embracing Tech Change to Win Over Millennials. To read the full story, download the latest Credit Union Tracker.

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DATA: How FI’s Innovation Gap Is Big Tech’s Big Opportunity

PYMNTS

It’s really difficult, the banking ecosystem is not fast and that’s just reality,” Jim McCarthy, industry expert and former innovation head for Visa, told Karen Webster in a recent conversation. The Headwinds Creating The Innovations Gap . According to the latest edition of the Innovation Readiness report, only 22.3

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NEW DATA: Relevance Test: Majority Of Consumers Find Bank Web Content Lacking

PYMNTS

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. One-third are very interested in using it for learning purposes, as well.

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Why Digital Payments Innovation Sticks To Gen Z

PYMNTS

Broadly speaking, it seems the follow-up act to the millennial generation – that is, Gen Z – is much more positively inclined toward using credit products of all stripes. Far more millennials and Gen Xers make use of credit cards than Gen Zers – at 38.29 million and 38.27 million, both cohorts have roughly quintuple the carrying rate.

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What The Trendsetters Say About How We Will Pay Next Decade

PYMNTS

And so a sheepherding innovation – and new vocabulary word – was born. In the payments ecosystem, we need look no further than the bridge millennial for how the connected purchasing experience will evolve over the next decade. Analysts pinpoint certain companies as bellwethers for the performance of a sector.

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Why Community Banks Can’t Afford To ‘Wait and See’ About Faster Payment Innovations

PYMNTS

However, if recent developments in the financial services industry are any indication, innovation waits for no institution, company, agency or, for that matter, Fed report. Many players in the financial services market were already launching innovative solutions without knowing which guidelines the Fed would recommend for the U.S.