Bank Innovation

AUGUST 23, 2016

No matter what industry you’re in, the chance of success depends on the knowledge and insight you have regarding your customer base, which for both traditional banking institutions and fintech startups means focusing on millennials.

Millennials 150

Millennials Fintech Industry Online 150

Abrigo

SEPTEMBER 2, 2020

Key Takeaways With more customers leveraging channels like online and mobile banking, community financial institutions are trying to solve how to maintain their hallmark community focus in an increasingly digital world. Community financial institutions' experience with PPP technology also translates to other areas of lending.

Lending 259

Lending Community San Antonio Survey 259

PYMNTS

JUNE 17, 2016

Not all is lost in the online lending space. The firm targets millennials, offering what the site said represents a financial personality test. TechCrunch reported on Thursday (June 16) that Payoff has raised a nice payoff of $46.7 million, which itself is only part of a $67.4 million financing round.

Lending 100

Lending Online Millennials Capital 100

PYMNTS

NOVEMBER 14, 2017

Online consumer lending – in a variety of forms – has grown explosively over the last decade. The Cleveland Federal Reserve Bank captured a lot of headlines with the release of its online lending study – particularly due to its use of the words “predatory” and “needs additional regulation.” Cleveland’s Dark Outlook.

Study 101

Study Lending Online Cleveland 101

Abrigo

FEBRUARY 3, 2017

Most notably, the institutions recognized that change was overdue for their business lending programs. At most institutions, the borrower’s experience typically follows this pattern: • As a potential business borrower, you fill out a form online, and a lender from the institution will get back to you sometime soon. •

Lending 150

Lending Community Bank Meeting Community 150

PYMNTS

SEPTEMBER 18, 2019

Among the forces working to influence and change retail — and do so into the 2019 holiday shopping season, as well as the 2020s — is the rise of bridge millennials. Having had the time to establish their careers, they enjoy higher spending power than younger millennials, who are just now dipping their toes into the professional world.

Millennials 109

Millennials Retail Study Online 109

Bank Innovation

MARCH 27, 2018

A focus on simplicity and UX design that intimately appeals to younger users such as millennials and Gen Z users, fintech investor Ron Suber told Bank Innovation. EXCLUSIVE—What’s behind the growth of personal finance management platform MoneyLion?

Millennials 170

Millennials UX Fintech Innovation 170

PYMNTS

SEPTEMBER 18, 2018

And in lending, with the financial crisis in the rearview mirror, a decade on, invention – okay, innovation – has become a hallmark, at least in some corners. But a standstill in the credit markets created a vacuum for a bit, at least along traditional lending conduits. Necessity is the mother of invention. Behind the Numbers .

Lending 148

Lending Innovation Fintech Cards 148

PYMNTS

AUGUST 23, 2016

Lendified , which offers loans to small Canadian businesses online, said earlier this month that it has secured a $20 million credit facility through Liquid Capital. It takes money to make money, the saying goes. So it is with the extension of credit to smaller firms who need the funds to gain top-line traction.

Millennials 100

Millennials Lending United States Maine 100

PYMNTS

SEPTEMBER 11, 2019

As many as 72 percent of bridge millennials say mobile apps are important for accessing bank accounts. And in Australia, the financial regulator earlier this week granted a new digital banking license to “online-only firm” Xinja Bank. The age of personalized service is upon us.

Digital Banking 160

Digital Banking Millennials Mobile Regulation 160

Bank Innovation

APRIL 19, 2019

based online-only bank, Ally Financial, had 120,000 new deposit customers in the first quarter on 2019, CEO Jeff Brown said on the bank's 1Q earnings call Thursday, bringing the Ally’s total depositor count to 1.77 The Detroit, Mich.-based million — a 20% YoY increase.

Detroit 186

Detroit Millennials Online Capital 186

PYMNTS

APRIL 16, 2019

Vyze’s platform connects merchants with multiple lenders, allowing them to offer their customers a wide range of credit options online and in-store and ultimately leading to financing approval rates up to 90 percent — well above the industry average,” Mastercard said in a statement. Point-of-sale (POS) financing stands as a $1.8

Millennials 188

Millennials Cards Maine Retail 188

PYMNTS

DECEMBER 27, 2018

The new year will bring a new round of one of the hottest games in the payments-and-commerce world: What Makes Millennials Tick? Among the most influential drivers of retail change is a subset of consumers PYMNTS identifies as “ Bridge Millennials.” Take those bridge millennials. Retail Response. And retailers are taking note.

Millennials 100

Millennials Payments Mobile Retail 100

Bank Innovation

JUNE 30, 2017

Millennials out there are often caught between two big decisions: do they buy a home, or do they keep buying sweet, delicious avocado toast? Luckily for the potential millennial homebuyer, fintech lender SoFi has found a way to merge these two completely exclusive purchases: a SoFi mortgage now comes with avocado toast.

Millennials 240

Millennials Fintech Lending Online 240

Bank Innovation

MAY 1, 2016

Robinhood: On Target Launched in December 2014, Robinhood is a zero-fee stock trading app that quickly gained popularity among financially ambitious millennials. Robinhood was paid the enormous compliment of having “cracked the millennial code” by none other than Jay Sidhu, CEO of Customers Bank and founder of BankMobile.

Millennials 240

Millennials social media Operations Cards 240

Abrigo

SEPTEMBER 2, 2020

Key Takeaways With more customers leveraging channels like online and mobile banking, community financial institutions are trying to solve how to maintain their hallmark community focus in an increasingly digital world. Community financial institutions' experience with PPP technology also translates to other areas of lending.

Lending 195

Lending Community San Antonio Survey 195

PYMNTS

FEBRUARY 12, 2019

Any number of “faster” rails are coming online through the next several months. For the connected consumer , connected commerce will be 100 percent digital , especially as the bridge millennials wield spending power across the next several decades. 2,225: The amount bridge millennials spend, on average, on annual retail purchases.

Millennials 154

Millennials Payments Retail Lending 154

PYMNTS

AUGUST 2, 2018

They want to be able to shop using mobile, online and offline channels and have those experiences be seamless. Among the most influential drivers of retail change is a subset of consumers PYMNTS identifies as “ Bridge Millennials.” Technology is an essential element of Bridge Millennials’ shopping processes.

Millennials 101

Millennials Mobile Groups Retail 101

PYMNTS

APRIL 12, 2019

That means some of the couples on the platform — no matter how long down the path a partnership is — will also want to have some private separate accounts like credit cards or lending products. Honefyfi, he said, has had to grow up to handle all these preferences, and the ways they shift.

Millennials 154

Millennials Tools How To Video 154

PYMNTS

JUNE 12, 2018

In the early days of online lending, the big appeal was access to funds for potential borrowers with few, if any, options for securing capital. Kassul noted his firm used to invest in ABS from the lending marketplaces but, eventually, there just wasn’t enough profit in it. The Coming Risk Assessment Reset.

Lending 116

Lending Security Philadelphia Dallas 116

Bank Innovation

APRIL 28, 2017

There are advantages to being local Whether they prefer to interact with an institution online or in person—or a combination of the two—millennials tend to look for organizations that are involved in making their area a better place to live. This represents another potential advantage for locally-based institutions.

Texas 170

Texas Millennials Community Online 170

PYMNTS

MAY 4, 2020

“Given the enormous impact of the coronavirus outbreak on the American economy, and especially the unprecedented spike in unemployment that has occurred in recent weeks, it is no surprise to see banks reining in lending,” the study’s authors wrote.

US 243

US Survey Cards Study 243

PYMNTS

FEBRUARY 19, 2020

Corporate buyers can pay more rapidly online with credit cards, benefitting sellers, and enjoy easy access to detailed, searchable information to guide their purchasing decisions. Some online sellers eschew online marketplaces in favor of more tailored digital sales experiences, turning to eCommerce system providers for help.

Mobile 197

Mobile Online Payments Tools 197

CB Insights

OCTOBER 24, 2018

get the entire 47-page lending report. See how startups and big tech are reinventing traditional lending. Download our deep dive into the disruption of lending. As competition increases and POS lending goes mainstream, startups are raising substantial funds to grab market share. valuation (10/8). valuation (10/8).

Millennials 65

Millennials Lending Cards Capital 65

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

PYMNTS

SEPTEMBER 17, 2018

Amid China’s efforts in recent months to boost small business activities – notably through initiatives that focused on small business lending in that country – Alibaba Group’s Taobao expanded its Maker Festival to be global in scope, with a spotlight on the youngest of entrepreneurs. The September event, which spanned Sept.

Millennials 134

Millennials Lending Retail Trends 134

PYMNTS

NOVEMBER 19, 2020

Millennials come in second at 15.6 percent of millennials received an instant income and earnings-related payment, and 11.8 percent and 10 percent, respectively, received an insurance and lending payment instantly. percent of millennials received an instant income and earnings-related payment, and 11.8

Payments 237

Payments Millennials Groups Survey 237

PYMNTS

MARCH 9, 2020

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. Bridge millennials are the most likely to play the banking services field, doing business with national banks as well as digital and online banks.

How To 232

How To Millennials ATM Fintech 232

PYMNTS

MAY 23, 2019

Millennials, Bridge Millennials and the rapidly up-and-coming Gen Z consumers mostly prefer digital banking as their go-to when they interact. For credit unions alone [in] 2015 and 2018, credit union market share of personal lending went from 31 percent to 22 percent. That result, Chambers noted, is just an average.

Online 123

Online Millennials Digital Banking Maine 123

Abrigo

MAY 11, 2020

Banking technology has long been associated with the preferences of Millennials , or Gen Z, but Dave Koch, Managing Director of Advisory Services at Abrigo, says that some institutions might have boxed themselves in with that narrow way of thinking. Lending & Credit Risk. SBA Lending. Lending & Credit Risk.

US 195

US Lending Community Technology 195

Bank Innovation

NOVEMBER 2, 2017

EXCLUSIVE–Are fintech lenders really more risky, more desperate for customers, and more appealing to millennials? Not precisely, TransUnion told Bank Innovation.

Fintech 218

Fintech Millennials Innovation Data 218

PYMNTS

JANUARY 8, 2021

Both consumers and businesses are exhibiting shifting expectations for how the lending process should work, and many are expressing interest in alternative forms of lending, such as peer-to-peer (P2P) loans. Another study predicted that the P2P lending market will reach nearly $559 billion by 2027 due to this expanded interest.

Lending 163

Lending Examples Tools Meeting 163

Abrigo

NOVEMBER 17, 2023

How to close more loans by speeding up lending and credit analysis Seeking a quicker loan origination workflow is worth it. Takeaway 3 Many aspects of traditional lending that slow down the loan origination process can be addressed through expanded automation. Learn where to find opportunities for improvement.

Lending 221

Lending System Software Taxes 221

CB Insights

SEPTEMBER 10, 2019

While the media often portrays millennials as preoccupied with the rising prices of festival tickets and avocado toast, their real financial concerns are a bit more practical. But millennials face significant headwinds in making those financial dreams a reality. get the REPORT on next generation investors. From big banks to big tech.

Millennials 77

Millennials Mobile Lending Cards 77

PYMNTS

MARCH 3, 2017

Upstart , an online lending company, just announced its $32 million round of funding. We don’t come from financial services, as do a lot of other [lending] companies. Moving more than $650 million in its first nearly three years of business, Upstart is aiming to lend out $1 billion this year.

Millennials 100

Millennials Lending Google Online 100

Jack Henry

OCTOBER 31, 2022

Confession: I’m not that much older than millennials. We love our technology, but we’re a bit skeptical when it comes to things like online privacy, machine learning, AI, and the latest “it” social app. I like to think of myself as a “young” Gen Xer. After all, we agree on a lot of the same things.

Millennials 78

Millennials Online Technology Lending 78

Abrigo

OCTOBER 21, 2019

I’ve found that attracting younger, millennial talent is almost like attracting clients,” said McBay. More than likely, your bank has a mix of borrowers: some might prefer to do everything online, while another share of customers prefers traditional banking. Technology, like banking, isn’t “one-size-fits-all.”

Millennials 218

Millennials Oklahoma Innovation Technology 218