Capturing the millennial market means mastering ATMs
Payments Source
MAY 9, 2018
Millennials view the ATM as central to how they manage their money and go about their daily lives, writes Yonas Marcos, president and CEO of Star Financial Services.
ATM Management Marketing Millennials 
Debit, ATMs And The New Age Of Bank Branches
PYMNTS
MAY 31, 2017
That brings up some questions for banks: What are the opportunities for banks with debit, and with branches, and even with ATMs? Bank, said that cash remains the most common method of transactions and “what’s amazing about that is that millennials are the most likely users of cash. In short, how to tangibly capitalize on the tangible?
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Trending Sources
Not Down For The Count, Cash Still Counts For Plenty
PYMNTS
MAY 4, 2017
In conversation with Cardtronics’ Brian Bailey, managing director for Global Financial Institutions, and Tom Pierce, chief marketing officer of the firm, Webster noted that even with the rallying cry of a war on cash in the digital economies — and in emerging markets — cash is alive, doing well and actually growing in terms of usage.
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Making the ATM part of a truly omnichannel service
NCR
FEBRUARY 17, 2017
That includes growth areas like mobile banking, of course, but also covers traditional cornerstones of retail banking like the ATM. Why the ATM is key to omnichannel. According to Retail Banking Research , the number of ATMs worldwide rose by five percent to 3.2 million in 2015. A driver of change. Image: iStock/Piranka.
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Digital Payments, Online Ordering And Memberships Top This Week’s News
PYMNTS
NOVEMBER 6, 2020
Membership has its privileges ” was the nine-year marketing campaign rolled out by American Express in 1987 to convince consumers that it was worth paying a yearly fee for one of its charge card offerings. Millennials Drive More to Faster Payments . Weak iPhone Sales Cost Apple Nearly Half a Trillion Dollars in Market Cap .
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Survey: Quarter Of Americans Open To Banking With Big Tech
PYMNTS
JULY 1, 2020
But one thing is clear: Americans would be willing to dispense with their local bank and make Amazon , Apple or Google their primary payment account provider if those 21 st -century accounts allowed them to more easily manage and spend their money. The rate rises to 60 percent among bridge millennials, those between the ages of 30 and 40. .
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Zero Launches Debit-Like Credit Card, Raises $20M
PYMNTS
MAY 23, 2019
Zero, a company that aims to modernize credit cards for the millennial generation, has raised $20 million in a Series A funding round, according to a report. The company plans to market its card to credit-wary millennials who want to avoid getting into a deep debt cycle, but who also want the incentives of owning a credit card.
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135 A new digital bank needs a new customer service experience
Insights on Business
FEBRUARY 13, 2019
Next has access to all of Bradesco’s ecosystem, ATMs, call center, internet banking. Financial management. Revamping the company’s internal structure is one of the first steps Bradesco took to achieve the goal of creating experiences that meet expectations of millennials. Social-based marketing. Hyper-connected journey.
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SoFi’s Trading Volume Surges, User Base Nearly Triples
PYMNTS
JULY 15, 2020
The idea here was to give millennials and Gen Z, our target audience, access to a diversified portfolio of new economy companies and gig economy companies,” Noto said. unveiled a new mobile-focused money management experience named Samsung Money by SoFi to assist users in handling their everyday finances per news in May.
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NCR: How Platforms Enable Banks To Be ‘Digital-First’ Fast
PYMNTS
FEBRUARY 13, 2020
Among the key focal points for NCR looking ahead lies expanding card management and commerce capabilities. The branch is a digital ecosystem in and of itself,” he said, “and it should be connected to the digital banking, self-service ecosystem,” as the footprint — including the ATM — is not going away. Looking At Open Banking.
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231 How Cross River Bank Keeps Cash Flowing
PYMNTS
JANUARY 25, 2018
This includes checks, brick-and-mortar bank branches, ATM cards and, yes, cash. The ATM Real Estate Advantage. Cross River teamed up with Mastercard in 2017 to launch Mastercard Cash Pick-Up, a disbursement service that delivers cash on behalf of businesses to vetted recipients through a network of ATMs. Postal Service (USPS).
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Record UK ATM use shows people still love cash
NCR
JANUARY 31, 2017
Consumers in the UK today enjoy unprecedented choice when it comes to making payments and managing their money. The ATM, mobile, online, phone and smartphone are all important to consumers. The UK’s 70,000 ATMs – of which almost 54,000 are free to use – dispensed more than £12 billion ($14.5 billion in 2021.
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Record UK ATM use shows people still love cash
NCR
JANUARY 31, 2017
Consumers in the UK today enjoy unprecedented choice when it comes to making payments and managing their money. The ATM, mobile, online, phone and smartphone are all important to consumers. The UK’s 70,000 ATMs – of which almost 54,000 are free to use – dispensed more than £12 billion ($14.5 billion in 2021.
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You’ll Have to Open Your Checkbooks if You Want Consumers to Change Banks
Gonzobanker
OCTOBER 5, 2022
Bankers are obsessed with discovering the “secrets” of getting consumers to change banks, while market researchers feed that obsession with survey data that purports to reveal those secrets. More than a third of all Americans have more than one checking account, and among Millennials that percentage is nearing a half.
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You’ll Have to Open Your Checkbooks if You Want Consumers to Change Banks
Gonzobanker
OCTOBER 5, 2022
Bankers are obsessed with discovering the “secrets” of getting consumers to change banks, while market researchers feed that obsession with survey data that purports to reveal those secrets. More than a third of all Americans have more than one checking account, and among Millennials that percentage is nearing a half.
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Deep Dive: Why Staffing Agencies Must Consider Payroll Cards
PYMNTS
MARCH 2, 2020
The United States’ tight labor market exacerbates competitive tensions for such agencies, though. Employers disburse all or some of employees’ wages onto the cards, and the funds can immediately be withdrawn at ATMs or used to make payments. The national unemployment rate fell to its lowest level since 1969 in April 2019 — 3.6
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Data Dive: Disappointment Edition
PYMNTS
OCTOBER 31, 2016
Red Sox fans here at PYMNTS vividly remember seeing a more unlikely turnaround when the New York Yankees managed to blow a three game lead in the ALCS, thus pulling off the biggest choke in the history of sports. Disappointed millennials rejected by credit card companies. Millennials — Once Rejected, Twice Shy.
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Orgs In Greece Help Refugees With Prepaid Cards
PYMNTS
NOVEMBER 29, 2016
The organization sees PFS’ prepaid cash card as a secure and beneficial way for refugees to access what they need in the local markets. Until recently, our main support was provided through in-kind distributions,” Sally Morson, cash program manager for Samaritan’s Purse, said in a release. PFS, based in the U.K.S,
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100 Chime’s Expanding Banking Services Menu
PYMNTS
JANUARY 8, 2019
By 2016, Chime was in the market with the full suite of features that digital banks offer today. Chime also provides its customers with access to a network of roughly 40,000 free ATMs nationwide. King and Britt launched Chime in 2014 to address that underbanked segment. ”
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Banking On Socially Conscious Consumers
PYMNTS
JUNE 22, 2017
trillion , representing about one-fifth of all managed investments. Recognizing a market for socially responsible financial tools, digital-first bank Aspiration recently launched a new service to help conscious consumers better understand the social impact of their everyday purchases. The Right Tool for Millennial Shoppers?
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SoFi Officially Files For A Bank Charter Of Its Own
PYMNTS
JUNE 13, 2017
And though its mailing address will be in Salt Lake city, SoFi will continue to operate as it has since its inception — as an online-only institution, with no branches or deposit-taking ATMs. SoFi specializes in marketing financial and loan products for millennial consumers who tend to prefer the firm’s online-only approach to finserve.
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How Digital-First Credit Unions Can Break The Impersonality Barrier
PYMNTS
SEPTEMBER 24, 2019
That number is higher among millennial and Generation X respondents, at 77 percent and 63 percent, respectively. Nearly one-third of millennials would prefer to do their banking exclusively online and eschew branch locations entirely. Does digital banking sacrifice personal touches?
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Deep Dive: Why FIs, Businesses Must Readjust Their Debit Fraud Protection Strategies In 2021
PYMNTS
JANUARY 21, 2021
Recent studies have found that debit issuers lost approximately $1 billion to fraudsters targeting transactions at the physical POS or ATMs in 2019 — and this was before the ongoing pandemic expanded fraudsters’ opportunities to launch their schemes.
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Retaining a personal touch in a digital age
NCR
OCTOBER 5, 2016
There are key reasons why customers continue to value face-to-face engagement with bank staff when managing their financial affairs, generally polarising around the reassurance of ownership, depth of knowledge and decision making agility, none of which can be advertised as benefits of the self-service channel. Striking a balance.
Banks rise to the FinTech challenge—Bringing disruption in-house
Insights on Business
JUNE 23, 2017
They marketed themselves to younger consumers, often with the lure of slick technology. Although they provide some of the same services and serve some of the same markets, it’s important to note that FinTechs and traditional banks have many fundamental differences. Earnings vs. eyeballs—Measuring success by different metrics.
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154 More comments on the “branch is dead” debate
Celent Banking
APRIL 23, 2015
Another observation is that much of the debate is deeply polarized – all or nothing – as if banks serve a static and homogeneous market. We hear it all the time; “Millennials don’t use branches.” “Old The survey (an online survey administered with a managed panel of nearly 3,000 consumers designed to be representative of the U.S.
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Laying the Groundwork for Growth
Gonzobanker
MARCH 6, 2018
Big banks have been in the driver’s seat on growing their market share in retail, while paring down branch networks. Customers expect to be able to use their mobile devices to do all their day-to-day activities, and strong digital capabilities can attract and retain not just millennials, but all new customers. Aligned and Future-Ready.
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From Investing To Budgeting, How Millennials Are Disrupting Personal Finance
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. Download the free report to find out how fintech is shaping the future of wealth management and investing. get the REPORT on next generation investors.
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Is a cashless future all that it seems?
NCR
JUNE 14, 2016
billion cash withdrawals annually at UK ATMs that amount to almost £6,000 GBP every second! As expected the younger generation, millennials, are less concerned about move compared to those older. 91% of UK residents withdraw cash from ATMs monthly (Payments UK). The dash for cashless. Million (Retail Banking Research 2015).
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40 Should banks be working to make customers’ lives simpler?
NCR
NOVEMBER 15, 2017
.” This focus on simplicity and unification in consumer banking has been evident in other markets around the world, including in the Middle East. Oman Arab Bank recently announced a single digital banking platform with a simplified interface spanning various channels, including online, ATMs and mobile.
Retaining a personal touch in a digital age
NCR
JANUARY 25, 2017
There are key reasons why customers continue to value face-to-face engagement with bank staff when managing their financial affairs. Video tellers, using ATM remote control technology, expand the location and service hours of routine face-to-face banking. Striking a balance. “Is a digital solution always the best way?
Retaining a personal touch in a digital age
NCR
JANUARY 25, 2017
There are key reasons why customers continue to value face-to-face engagement with bank staff when managing their financial affairs. Video tellers, using ATM remote control technology, expand the location and service hours of routine face-to-face banking. Striking a balance. “Is a digital solution always the best way?
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40 From Online to Mobile to Mobile-Only
Banking 2020
FEBRUARY 17, 2015
For everyone from lazy millennials in the suburbs to disadvantaged denizens in under-developed regions, this is a game-changer. It’s not in dispute that many aspects of life that previously took time now can be managed in seconds with a few clicks on the smartphone or tablet, yet it’s still a drag opening a bank account.
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40 The changing face of availability in the connected economy
NCR
AUGUST 24, 2016
However, these services also need to manage risk, meet the bank’s compliance obligations and improve its security. Younger customers, and in particular the so-called ‘millennial’ generation’, have grown up in a time where 24/7 availability of personalized services is the norm.
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40 Future of Customer Experience in Digital Banking
Banking 2020
APRIL 28, 2015
Digital Banking with Digital Face: There has been a massive behavioral and thus expectation shift in the customer relationship, especially among millennials. For millennials, the F2F relationship is no longer irreplaceable when the customer requires a utility driven solution or a real-time resolution through the digital relationship.
FinovateSpring 2016 Live Blog – Day 2
William Mills
MAY 11, 2016
Sergii Danilenko (Head of Marketing). This approach makes a lot of sense– but not sure if it would meet the governance and compliance considerations of most banks and investment management firms. ^SR Sabina Bhatia (Director, Marketing). PayActiv helps consumers with short-term cash, available to be picked up from any ATM.
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40 The Massive Opportunity For Insurance Tech In Indonesia
CB Insights
FEBRUARY 1, 2019
Consider that: Half of Indonesia’s population is under the age of 30, with the number of millennials (aged 17-35) in Indonesia currently at 79.5M. By 2050, Indonesia is projected to have the third largest middle class among emerging markets. GET THE 106-PAGE FINTECH TRENDS REPORT. Insurance in Indonesia today. in 2013 to 15.8%
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61 FinovateSpring 2016 Live Blog – Day 2
William Mills
MAY 11, 2016
CreditHQ helps businesses manage cashflow. Managing cash flow – targeted at small business in partnership with banks. ^KT. Here’s another solution for document management and origination. ^SR. What’s the market strategy? ChipShield also has an integrated password management vault. Martin Campbell (CEO).
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40 How Can Regional and Mid-Tier Banks Catch Up to the Big Banks in Mobile?
Tech and Finance
JULY 13, 2016
While regulators and politicians may be concerned with the big banks getting bigger, market forces will continue to favor the big banks as long as they do a better job serving their customers. The big banks ranked better across multiple segments, including the coveted millennials, emerging affluents, and minorities.
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The 2015 GonzoBanker Awards
Gonzobanker
DECEMBER 22, 2015
Community bank marketing resources. With market opportunity heating up and big bank and big credit union competitors hitting hard, too many community banks lack marketing resources … or they have 2X more spending in sponsorships than the campaigns, analytics and digital sales improvements that actually bring in new business.
In Land Of Free Banking Apps, Red Ink And Investor Support Only Go So Far
PYMNTS
JULY 14, 2017
The prepaid division, said the company, had what management termed a “fantastic” year, with 240,000 accounts funded, at roughly $320 million spent in the aggregate. The losses come out to be $64 per customer per year, driven by costs that come in tandem with use — namely tied to international ATM use. million, far outpacing the $1.8
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The Week In Payments: The Visible Perils And Hidden Promise Of The Coronavirus
PYMNTS
MARCH 20, 2020
Concerns ran demonstrably highest with older millennials, 44 percent of whom reported being extremely concerned, and lower-income workers, who have sharply curtailed their spending. But to build on those opportunities, the market has a bigger job to do: re-instilling calm. What’s necessary, said Amit, is to manage communications.
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The Dawn of Banking Voice Technology
PYMNTS
MAY 21, 2016
We have been able to launch a market-leading proposition to customers, customers have appreciated what we’ve done and are using it, and that, for me, shows the value of innovation and pushing the boundaries on what banks can do and responding to customer behavior trends and industry trends,” he said. Learning the language. What’s next?
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115 The Financial Industry’s Digital Transformation
FICO
JANUARY 19, 2018
That’s not because old banks went extinct, but because they met consumer demand by shifting many services online or to ATMs. If that percentage seems high to you, perhaps it’s because you thought “only millennials” have those kinds of needs. According to Accenture, millennials now number 1.8
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