Banking 2020

JANUARY 15, 2015

The retail banking industry has seen major changes occurring in the industry over the last few years with the adoption of mobile banking, the rise to prominence of the millennial demographic, narrowing margins, stagnant top line revenues, the future of the branch and continued regulatory changes. Digital Banking. Cyber vulnerabilities.

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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. The Rise of the Digital Bank.

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Millennials Data Study Digital Banking 45

Gonzobanker

DECEMBER 22, 2015

Well, what do we say about 2015? And, give or take a stumble or two, we snuck through it and did a reasonable job on 2015 objectives, in our humble opinion. So, it seems we’re good with only one outstanding item—digest the 2015 GonzoBanker Awards! 2015 Executive Call-out. ” – Tom Armstrong. And the winners are ….

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PYMNTS

AUGUST 27, 2018

Credit card debt made it over the $1 trillion mark in 2017, making it the third non-mortgage lending category to have surpassed the ten-digit mark in measuring consumer debt. According to the Financial Times , the good news is that delinquent credit card debt, overall, remains low. In fact, at 3.4

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Data Cards Millennials Groups 103

PYMNTS

MAY 4, 2017

Brazil and Mexico — the total amount in cash payments for the region was $3 trillion in 2015, with weighted average cash use at 14 percent of GDP, with an estimated increase, annually, of 4 percent through 2020 in absolute dollars but a decline in percentage of GDP by 1.2 Turning to the Americas — defined as the U.S., do not accept cash.

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ATM Millennials United States Study 192

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. . Users can grant secure online access to family and friends. .

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Millennials Fintech Tools Fraud 73

FICO

JUNE 9, 2016

Millennials, now the largest demographic group in America, are possibly the most misunderstood, elusive market ever, a notion underscored by The Wall Street Journal ’s article about the existence of $20,000-per-hour “Millennial consultants.” Millennials reward positive fraud outcomes. In Millennial parlance, that’s “harsh.”.

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PYMNTS

NOVEMBER 30, 2017

To gauge the factors powering cash’s growth, PYMNTS recently caught up with BoE’s director of bank notes and chief cashier, Victoria Cleland, who oversees the production, distribution and security features of banknotes. Alternate payments methods might be gaining popularity among millennials in the U.K., Where cash is headed.

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ATM Payments Analysis Cards 165

Abrigo

OCTOBER 15, 2014

Offering convenient ways to bank can be an appealing option to draw in those new customers, particularly for the millennial generation. The customer then links the app – which will house their financial information such as their credit card number they wish to use – to their Twitter account.

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social media Apple United States Innovation 150

Gonzobanker

OCTOBER 6, 2015

While bankers may be a bit fatigued this year by articles about payments, the more enlightened Gonzo bankers are paying close strategic attention to the single most impactful payments trend in our industry: the shift from a plastic card to a “card-not-present” world. times faster than card-based transactions.

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PYMNTS

OCTOBER 6, 2017

But as readers in this space know, the move to cashless is not a done deal, nor is it written in the cards (no pun intended). The data shows that cash still runs a good, solid second place among preferred payment methodologies – cited by 27 percent of respondents as their top choice, behind debit cards at 33 percent.

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NCR

MARCH 29, 2017

When it comes to planning strategy and investment across retail banking channels, financial institutions (FIs) should acknowledge that, for younger consumers and millennials in particular, cash still has an extremely important part to play. The post How the youngest consumers could secure the future of cash appeared first on Banking.com.

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PYMNTS

MAY 28, 2019

The company recently filed paperwork with the Securities & Exchange Commission (SEC) to go public on the New York Stock Exchange. The company integrated GO-PAY into the GO-JEK app, which lets customers store money on their mobile phones, much like a digital debit card. billion – of funds were lost to card fraud in 2018, up from $1.4

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PYMNTS

NOVEMBER 29, 2016

It lets FIs roll out products that are scalable, flexible and configurable yet offer bank-grade reliability and security — without replacing their existing processing technology. In just North America and Europe, the credit card market is projected to grow by 7.3 According to a 2015 U.S. Take the credit market, for example.

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Independent Banker

NOVEMBER 25, 2015

One of the biggest problems with FinTech companies is that many of them exploit existing banking infrastructure—including debit, credit and ACH networks—and access traditional checking and saving accounts, yet face minimal regulation when it comes to data security and privacy. Now it has a small-business financing program, Square Capital.

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Community Bank Community Analytics Lending 70

PYMNTS

APRIL 4, 2016

This marketing promotion seeks to recreate the success of the brand’s 2014–2015 U.S. It was a very big undertaking,” Mason said in regard to securing the rights to all of the lyrics. Both are launching packaging-based interactive campaigns this summer that aim to engage the ever-so-valuable young consumer.

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social media Millennials New York Branding 100

PYMNTS

JANUARY 25, 2018

This includes checks, brick-and-mortar bank branches, ATM cards and, yes, cash. trillion in cash in 2015, a higher rate than that of Western European nations. Other uses include social benefits disbursement, such as Social Security payments. But not all financial innovations are focused on making such concepts obsolete.

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Fintech Labs Insights

SEPTEMBER 21, 2015

And FinovateFall 2015 is no different. So let’s take a look at some of the more creative, colorful, and consequential tweets of the FinovateFall 2015 Week That Was. Pedro Gaspar (@pgaspar) September 17, 2015. “Idk about you, but I hope my financial data is more secure than my World of Warcraft profile.”

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UX Fintech Innovation Community 12

PYMNTS

AUGUST 26, 2016

has refused to support Apple Pay and instead rolled out its own app, Walmart Pay, for use with iOS and Android in December 2015. This time, a number of Australian retailers and payments associations are supporting three Australian banks that want Apple to give third-party access to its secure NFC module for Apple Pay.

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Apple social media Retail Strategy 100

PYMNTS

OCTOBER 28, 2016

Owning a home might still be a significant piece of the American Dream, but with two-thirds of American millennials currently renting , it could be a far-fetched dream for young renters. For decades, checks have long been the primary method for rental payments, but for millennials, everything is changing.

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Payments Software Millennials Management 100

PYMNTS

APRIL 27, 2016

There are issues of transaction security, criminal elements, tax evasion, free flow of capital, access to goods and services and the ability to fully participate in the global economy. adults still prefer to use cash for purchases under $5, while 22 percent use debit cards and 11 percent use credit cards.

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Perficient

MAY 17, 2022

Total outstanding debt in the sector grew by $84bn to $1.46tn, outpacing the increase seen in student and credit card debts combined.” sales chief said in 2015 that 84-month loan terms were “stupid,” is jumping on the 84-month loan bandwagon. Auto-loan originations in the U.S. And even Honda, whose U.S. What can a Lender do?

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Strategy Customer Experience Study Technology 294

PYMNTS

DECEMBER 21, 2020

Just as many boomers have made the digital shift as millennials, and as many of those living in big cities and towns have made the shift as those living in less populated areas. Contactless cards are regarded as decision-drivers for shopping in a physical store 7.5 consumers showed that of the 7.75 percent of all retail sales.

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Apple Study Innovation Survey 227

ZootBlog

MAY 6, 2016

Biometrics in financial services will require instituting a behavioral shift, and addressing consumer concerns regarding privacy and security. As a result, companies need to ensure that authentication methods remain secure, private and frictionless in order to effectively mitigate potential risks for users.

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Security User Experience Millennials Maine 60

PYMNTS

OCTOBER 20, 2016

That figure is down by 7 percent since 2015. Payments providers need to bring the traditional card to life and create a real-time interactive experience for consumers.”. consumers trust traditional card providers the most, followed by providers like PayPal, banks and established tech companies. Three-quarters of U.S.

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PYMNTS

AUGUST 5, 2016

In that same span, payment with cards, mobile wallets and direct deposit tripled, and the trend is not expected to reverse itself anytime soon. Young people especially have stopped using checks, with a study from WePay reporting that 52 percent of millennials never use checks at all.

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PYMNTS

MAY 11, 2018

At first glimpse, the Marriott move seems small — just another example of the ongoing divorce between payments and physical cards. Launched on Fliggy in 2015, and prior to the Marriott’s new global push of the service, PPP was available at some 100,000 hotels across mainland China. Fliggy Moves To Secure Loyalty.

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Retail Payments social media Mobile 129

PYMNTS

JANUARY 2, 2017

Walmart’s revenues of nearly half a trillion dollars ($485 billion in 2015) and 2.2 Millennials Are In For Some Hard Times. The data is grim — 2017 and beyond don’t bode well for the financial future of the millennial generation. million employees — half of whom are in the U.S.

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Millennials Apple Retail Mobile 119

FICO

MAY 1, 2020

The Journal article also quotes a Square study that found, in January through March of 2019, consumers used cash in 37% of transactions under $20, compared with 46% in 2015. Folks whose kids have access to a family checking account often like to be alerted whenever an ATM withdrawal or any payment secured by the kid’s card is made.

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Fraud How To Payments ATM 69

Banking 2020

FEBRUARY 9, 2016

Proactive banks have an opportunity to transform consumer behavior, win millennial customers and satisfy existing customers by taking advantage of the unique differentiation opportunity of mobile. Millennials have emerged as mobile trailblazers. Globally, the millennial population looks to do their banking through a mobile app.

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Mobile Industry Millennials Survey 40

Fintech Labs Insights

JULY 16, 2015

Dynamics’ Next Generation Payment Cards crack a 30-year lack of card innovation by embedding a full computer architecture inside a payments card. Hedgeable’s NEXT Partner Network makes private banking platforms available to millennials.

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Fintech Labs Insights

SEPTEMBER 1, 2015

To whet your appetite for two days of fintech innovation, we’re releasing the full and final lineup of presenting companies for FinovateFall 2015. BehavioSec enhances security without impacting the user experience. Hedgeable is the first private banking platform for millennials.

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Company Software Analytics Mobile 12

Fintech Labs Insights

JANUARY 8, 2016

2015 was quite a year for the 800+ Finovate alumni. Here are the highlights from the 2015 Best of Show winners: FinovateEurope 2015. October: Named FinTech Forward 2015 Company to Watch. March: Wins the Anti-Fraud/Security category at the FinTech Innovation Awards. FinovateSpring 2015. FinovateFall 2015.

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NCR

FEBRUARY 17, 2017

In the rush to serve the tech-savvy millennial market and keep up with the latest developments in mobile and digital banking, some FIs might fall into the trap of overlooking traditional channels. million in 2015. Why the ATM is key to omnichannel. That figure is expected to increase to four million by 2021.

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ATM Mobile Strategy Fraud 85

NCR

DECEMBER 19, 2016

From the gradual adjustment to EMV chip card technology in the US to the ongoing growth of fintechs and challenger banks, 2016 has been a big year for the financial services sector. EMV chip technology for credit and debit cards was rolled out in the US in October 2015. Getting onboard with EMV. Unpredictability in payments.

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PYMNTS

OCTOBER 21, 2016

“A property manager isn’t going to rent a three-bedroom apartment versus a two-bedroom apartment simply because they accept credit cards,” Villante told Karen Webster. Strike number one: Landlords wouldn’t see any lift from offering their customers the ability to do debit and credit card payments versus making paper check payments.

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Fintech Labs Insights

OCTOBER 2, 2015

See American Express at FinDEVr 2015 in San Francisco next week. Coinbase provides support for 3D Secure credit and debit cards, enabling instant bitcoin payments in a total of 26 countries. Silicon Prairie News interviews D3 Banking CMO, Mike Carter, on millennials and the “future of banking.”

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