Remove Digital Banking Remove Millennials Remove Retail Remove User Experience
article thumbnail

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.

article thumbnail

FIs Most Underutilized Asset: Their Apps

PYMNTS

Mobile banking apps are designed to make digital banking more convenient for customers, yet 21.7 This is true even for routine transactions, such as transferring money to friends and relatives or making retail payments. percent of consumers who use these apps are dissatisfied with them.

UX 150
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Amid Blockchain And Robotics Hype, Corporate Lenders Still Start With The Cloud

PYMNTS

Consumers demand easy, digital banking, but this pressure for banks to deliver is also coming from corporate clients. Take mobile banking, which has propelled the introduction of mobile-only banks to meet demand for better services on smaller screens.

article thumbnail

How 2015 is Different for Retail Banks

Banking 2020

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
article thumbnail

How Friendly Friction Builds Better Banking Experiences

PYMNTS

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
article thumbnail

From ACH To IoT: Looking Back On A Year Of Trackers

PYMNTS

From using virtual reality to overhauling the retail industry to shifting trends in cross-border payments, here are some of the highlights from our 2016 Trackers. Prpic and his team are hoping to use VR technology to transform luxury and high-end retail as we know it. DIGITAL BANKING TRACKER. DEVELOPER TRACKER.

Retail 123
article thumbnail

A First Look at What’s Coming to the FinDEVr Stage this October

Fintech Labs Insights

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.