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The growing interest in digital banks

Insights on Business

There are interesting characteristics both in the new entrants and in the more established digital banks. Some of the most important elements mentioned by analysts and professionals can be divided into four models: Digital bank brands: Many established, full-service banks find it difficult to appeal to millennials.

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Online Bank Aspiration To Give Cashback For Socially Responsible Shopping

PYMNTS

Online bank Aspiration, which has a socially conscious mission, recently announced it would give customers 3 to 5 percent back on purchases from socially conscious brands, according to a report by Bloomberg. Aspiration said the retailers and the bank will jointly fund the rewards.

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Mastercard’s Master Plan: Give Millennials What They Want

PYMNTS

is a rally cry that would perk the ears of many millennials, but how about “ Mastercard , assemble?”. Assemble for millennials is a toolkit that issuers, corporations and IBCUs can use to enable digital financial solutions, in this case targeting millennials, using a single-access digital prepaid product.

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Credit Unions’ Digital Future: More Like YouTube, Less Like Online Banking

PYMNTS

Digital banking is not the main element that drives consumers toward using a credit union. However, as Lumin Digital President Jeff Chambers told Karen Webster in a recent conversation, that doesn’t mean the digital banking experience isn’t critical to credit unions’ relationships with their members.

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This Week In Payments: Digital Banking, Financial Literacy And Expanded eCommerce Competition

PYMNTS

Ranchere said challenger banks’ target market of millennial consumers have simply amassed fewer assets than their baby boomer parents have, as younger customers are less likely to have investment accounts or own homes. I think there’s a lot more to look at — and it is where brands need to start looking.”. Ranchere said.

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NCR’s D3 Combines With Nymbus To Enable Banks’ Digital Offerings

PYMNTS

Miami-based NYMBUS announced the licensing of NCR’s D3 Digital Banking platform (D3) to give financial institutions the opportunity to quickly offer customers new brands, the FinTech announced in a press release on Monday (Oct.

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How Financial Institutions Can Attract Millennial Customers

NCR

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.