PYMNTS

DECEMBER 3, 2019

In today’s top payments news, Wells Fargo has selected former Santander head executive Scott Powell to be its new chief operating officer. Also, Visa is working with four global finance firms to help FinTechs issue plastic as well as digital payments. And London’s digital unicorn Monzo has appointed TS Anil to head up U.S.

Fintech 132

Fintech Colorado Payments Operations 132

PYMNTS

DECEMBER 11, 2018

And that’s unlikely to change in 2019 or beyond, given the growing purchasing power of bridge millennials. In fact, it is getting some new life from eCommerce operators. So-called online-only retailers — including Amazon — operate some 630 physical retail locations in the U.S., Digital Banking.

blockchain 170

blockchain Retail Trends Mobile 170

PYMNTS

SEPTEMBER 3, 2020

with cash — and consumers are even starting to ditch plastic cards. Many of these smaller firms, he said, did not have individual, digitized payment experiences woven into their overall operating infrastructures before the pandemic hit. Cash will always have a place among consumers — but its use is dwindling.

Payments 262

Payments Security Millennials Retail 262

PYMNTS

JUNE 7, 2017

Fifteen percent of consumers said they had used a digital wallet in the past year. Consumers are living more digital lives, and that is being reflected in the way they pay,” said Mark Ernst, chief operating officer at Fiserv.

Survey 115

Survey Mobile Millennials Cards 115

CB Insights

AUGUST 2, 2018

One of the biggest trends in fintech today is the rise of digital banking products like mobile checking accounts and new debit cards. From Square to Paypal, a host of fintechs are creating products that let consumers spend money directly out of digital accounts using a physical card. mobile-first bank accounts.

Cards 71

Cards Fintech UX Strategy 71

CB Insights

DECEMBER 10, 2020

Bank of America, for one, saw profits drop 16% year-over-year (YoY) in Q3’20 to $4.9B. The pandemic has also accelerated recent trends in banking, especially among the millennial demographic, which tends to favor digital banking and online brands over traditional banks. Investment banking.

America 101

America Lending Cards San Francisco 101

Accenture

SEPTEMBER 22, 2019

An obvious reason is the inroads they’re making into the market, both domestically and globally: recent Accenture research finds that digital-only banks operating in the UK could amass a total of 35 million customers globally within the next 12 months, up from 13 million today. Why the intense interest in the neo-challengers?

Innovation 150

Innovation Metro Apple Marketing 150

PYMNTS

JULY 15, 2016

Brad Fauss, CEO of the National Branded Pre-Paid Card Association and MPD CEO Karen Webster dug into the potential for these rules to create the kind of inconsistencies that could very well disadvantage the very consumers that the CFPB intended to protect. Who Uses Prepaid Anyway? So far, so good.

Cards 100

Cards Millennials Regulation Cyber Security 100

PYMNTS

OCTOBER 8, 2019

CUs are no longer confined to operating primarily as regional players, moving beyond the confines of original charters that had limited them to, say, specific communities or employers. The Millennial Challenge. Now the relationship has moved beyond writing checks to credit and debit cards.

United States 102

United States Millennials Course Lending 102

PYMNTS

MAY 29, 2020

Credit unions (CUs) are upgrading their automated teller machines (ATMs) to offer a broad array of banking services from loan applications to account transfers and beyond in the hopes that having more versatile ATMs will be able to meet the needs of their members as brick-and-mortar branches stay shuttered.

Maine 130

Maine ATM Innovation Millennials 130

CB Insights

OCTOBER 10, 2018

What these startups share is the goal of creating customer-centric banking products that target underserved individuals and businesses. DOWNLOAD THE 61-PAGE consumer banking REPORT. See which startups are helping JPMorgan, Bank of America, and Citi build the digital banking platforms of the future.

Retail 78

Retail Cards Millennials Mobile 78

PYMNTS

MARCH 2, 2020

The more enabled, the data shows, the more quickly and flexibly an FI can respond to changing consumer patterns in areas like credit usable, the more products it can offer and the efficiency it can operate and optimize its offers. Among bridge millennials, Americans biggest earning and spending demographic, the figure jumps to 41 percent.

Innovation 222

Innovation Data System Mobile 222

PYMNTS

APRIL 4, 2019

And by all accounts, this digital migration is driven by consumer preference — according to the same study, 91 percent of mobile banking users prefer accessing their app over going to a physical branch, and 68 percent of mobile banking millennials believe their smartphones will eventually replace their physical wallet.

Mobile 169

Mobile Study Security social media 169

PYMNTS

MARCH 3, 2020

Mobile and online banking’s prevalence has reduced physical branches’ importance, but these brick-and-mortar establishments are still vital to customers’ financial lives. Even millennials , who heavily lean on remote banking, still visit physical bank locations for more complex functions, such as loan applications.

ATM 151

ATM Fraud Study Regional 151

Independent Banker

AUGUST 9, 2016

Banking customers are no different. Statistics are especially compelling for those trying to attract and maintain the millennial segment. With Buzz Points, customers earn points every time they swipe their card, and they earn double points when they patronize a local business. 2 – Chaudhuri, S. 2014, August 8).

Community 70

Community Millennials Community Bank America 70

Insights on Business

FEBRUARY 27, 2019

Some have converted to also using digital channels. Your executive teams may feel that their current mobile apps and internet banking operations are sufficient. And yes, for now you can still reach profit objectives and meet C/I ratio targets—while investing in more mobile and internet banking capabilities on the side.

Customer Experience 107

Customer Experience Mobile Millennials Examples 107

Independent Banker

OCTOBER 29, 2014

But how far are they willing to go to do their banking on small mobile devices? A consensus says that the future banking customer relationships—particularly for millennial consumers—will orbit to one degree or another around mobile technology. Banks still receive revenue from interchange fees and will for some time.

Mobile 105

Mobile Community Bank Community Technology 105

NCR

FEBRUARY 17, 2017

That includes growth areas like mobile banking, of course, but also covers traditional cornerstones of retail banking like the ATM. 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.

ATM 85

ATM Mobile Strategy Fraud 85

PYMNTS

SEPTEMBER 6, 2016

Jenkins sees two worlds — banks and payments — that both need to come together to address cybersecurity. Payments had been relatively static with innovation around cash, checks and credit cards. Of course, it’s not just the FinTech industry and tech-savvy millennials who are fueling digital change. Sophisticated Threats.

Security 100

Security CA Payments Big Data 100

Gonzobanker

OCTOBER 31, 2018

But while customers are evolving and adopting less traditional ways of banking, many branches are stuck in a time warp and continue to operate as order takers versus consultative advisors. What is P2P and Venmo, and why should customers use debit cards or P2P payments instead of checks?

Training 84

Training Fraud Management Tools 84

PYMNTS

MAY 30, 2016

Read on for what they happen to say about the state of their businesses and the local economies in which they operate. Digital Banking. The 411 On The Digital Banking Evolution. The latest edition of the PYMNTS Digital Banking Tracker profiled new players, as well as the latest news and expert commentaries.

Trends 100

Trends Retail Fraud Mobile 100

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.

Retail 40

Retail Trends Millennials Mobile 40

PYMNTS

JANUARY 24, 2017

That’s according to financial services vet and Varo Money CEO and Cofounder Colin Walsh, who told Karen Webster recently that the future of banking, for millennials in particular, lies not in branches but in bots who become money coaches. With AI … we can help them manage spending and build savings.”.

Digital Banking 100

Digital Banking Millennials Lending Google 100

PYMNTS

DECEMBER 15, 2017

is a rally cry that would perk the ears of many millennials, but how about “ Mastercard , assemble?”. The card network is hoping that’s the case, as it rolls out the first use case stemming from its recently launched global prepaid money management platform. What Millennials Want. “Avengers, assemble!”

Millennials 134

Millennials Management Cards Security 134

CB Insights

JULY 11, 2019

get the building the bank of the future report. Download the free report to find out about the rise of digital banking, challenger bank strategies and how incumbents are fighting back. Technology has reduced the costs of financial services by automating roles and replacing physical locations with digital channels.

Fintech 64

Fintech cryptocurrency Examples Cards 64

CB Insights

JUNE 3, 2020

These include Toast ( which cut 50% of its staff in early April ), TouchBistro ( which furloughed 20% of its workforce in April ), and Square ( card present volume down 60% in final 2 weeks of Q1’20 ). long term: digital will become essential for cost-cutting & as new business models emerge. Banking and Lending.

Lending 75

Lending Capital Online Marketing 75

Gonzobanker

DECEMBER 20, 2019

Second Curve analyst Zack Maxfield opened a TD Bank checking account on his phone in nine minutes while he waited to speak with a teller at one of the bank’s branches, but waited an hour to fund the account and order a debit card. The workplace a millennial will most confuse with Silicon Valley – Live Oak Bank in North Carolina.

Idaho 148

Idaho Conference Data Marketing 148

PYMNTS

JANUARY 2, 2017

DIGITAL BANKING TRACKER. The Digital Banking Tracker looks at how old ways of banking are evolving with the advent of faster technology that allows customers to get real-time updates on their accounts, share money with ease among contacts and even open accounts with a selfie.

Retail 123

Retail Millennials blockchain Mobile 123

PYMNTS

JULY 9, 2018

Credit is being unbundled from the traditional line-of-credit, card-based products. The anecdote to the millennial’s so-called hatred of traditional banks hasn’t really taken off as investors envisioned. Even the largest and oldest digital banks have only converted a few million customers.

Strategy 105

Strategy Millennials Online Branding 105

PYMNTS

MAY 21, 2016

Just weeks removed from the launch, PYMNTS caught up with Ed Metzger, Santander UK’s Head of Innovation, Technology and Operations, to talk about initial impressions and what’s next for voice technology in banking. The bank opted to pilot the technology in its student app, he said, because millennials are known early adopters.

Technology 115

Technology Trends Maine Digital Banking 115

PYMNTS

NOVEMBER 18, 2019

In addition to search, for which there are nearly six billion Google queries every day, Google operates a variety of utilities that consumers use regularly on both iOS and Android devices, as well as their Windows and Apple desktops – Google Maps, Waze, YouTube, Gmail and Google Drive, to name a few. 4, ahead of PayPal and Amazon.

Google 177

Google Study Payments Branding 177

Fintech Labs Insights

MAY 25, 2017

This year at FinovateEurope, Antwerp, Belgium-based banqUP tossed its hat into the ring with a preview of its small business banking platform. The SME segment is significantly underserved by the banks and as a team of entrepreneurs we aim to change this situation. ” Company facts. We are PSD2 ready!

Digital Banking 20

Digital Banking Fintech Groups Analytics 20

Fintech Labs Insights

JULY 16, 2015

D3 Small Business Banking brings omnichannel, data-driven, digital banking solutions for small business customers of financial institutions. Dynamics’ Next Generation Payment Cards crack a 30-year lack of card innovation by embedding a full computer architecture inside a payments card.

Company 12

Company Mobile Software Big Data 12

Fintech Labs Insights

AUGUST 1, 2016

It leverages 45+ years of franchise operations experience to help retail investors finance franchises, helping to bring them to market quicker. Dynamics offers issuers and their cardholders interactive payment cards and an authorization-based, real-time loyalty processing system.

How To 12

How To Analytics Millennials Data 12

William Mills

SEPTEMBER 7, 2016

With CRMnext, replacing a lost card or request a new pin is a one button process. But came here to talk about BankJoy API –Which provides advance banking out of the box. Demo: voice conversation with Alexa, able to ask bank account balance, block cards, pay bills, send money to friends. operation of Russian-based company.

Mobile 40

Mobile Cards Fraud Data 40

Fintech Labs Insights

JULY 22, 2015

Backbase will talk about its Digital Banking Platform and its Open Banking Marketplace. Fueled by a strong, open API strategy, Backbase’s platform gives FI’s the ultimate freedom and flexibility to work with any core and third party vendor, to create a best-of-breed digital banking offering for their clients.

San Francisco 12

San Francisco Video Fintech Data 12

PYMNTS

JUNE 4, 2020

The degree to which consumers’ lives have gone digital over the past two or three months can’t be overstated. Those he termed “digital laggards” — FIs that have been slow to connect their card offerings to their mobile apps — have noticed more than a 50 percent reduction in their transaction spend of late.

Mobile 141

Mobile UX Cards Payments 141