Accenture

MAY 5, 2021

One of the clearest impacts of the pandemic has been to accelerate consumers’ long-running migration to mobile and online channels, for financial services among others. For banks and insurers, the results include greater opportunities to serve more customers in new and more efficient ways. appeared first on Accenture Banking Blog.

Mobile 221

Mobile Online Study Digital Banking 221

PYMNTS

OCTOBER 18, 2020

Plaid is denying that it has used TD Bank 's logo to dupe customers into sending information it could monetize, a report from The Globe and Mail says. Plaid said it’s also disappointed that TD Bank has filed a lawsuit against it in the case, saying Plaid's role in transactions is “made clear” to customers.

New Jersey 312

New Jersey California Software Branding 312

PYMNTS

MARCH 13, 2020

The era of “challenger” banks has seen many grand promises in terms of innovating on the old banking model to provide consumers with something more modern, responsive and customized. They’ll also see a lot of fees that consumers associate with traditional banks (monthly account fees, overdraft charges, etc.)

US 192

US Management System Maine 192

Bank Innovation

APRIL 14, 2017

Consumers see their banks as more of a stressful utility, rather than a financial advisor. According to the Future of Money report released by Cognizant, banks are not proactive with the financial needs of their consumers; 90% of consumers surveyed stated that they primarily deal with their bank for simple transactions only.

Survey 297

Survey Report Online Digital Banking 297

PYMNTS

JUNE 26, 2020

Financial institutions (FIs) worked quickly to ensure they could operate smoothly as the pandemic kept consumers at home and closed brick-and-mortar branches in Europe, the United Kingdom and the United States. Developments Around the Cloud Banking World. The FI officially opened the digital platform to U.S. customers in late May.

Meeting 227

Meeting Mobile Digital Banking Tools 227

PYMNTS

FEBRUARY 14, 2020

But as banking becomes ever-more mobile, and account openings and activities are done through digital channels, the very definition of support – and how it should be provided – is changing. As he noted, digital-first brands such as Uber and Amazon have helped shape, and are still shaping, consumers’ expectations for interacting with FIs.

Branding 228

Branding Mobile Tools Fintech 228

PYMNTS

NOVEMBER 17, 2020

Consumers’ banking habits have changed radically since the pandemic was first declared in March. Not only are many account holders visiting brick-and-mortar branches less often than they did before the pandemic, but many are also more reliant on digital banking channels — particularly mobile banking apps — than they have ever been.

UX 234

UX Mobile Data United States 234

PYMNTS

SEPTEMBER 23, 2020

23) announced its expansion into consumer banking to include personal loans and credit cards. The cash will be used to grow its online mortgage, consumer loan and deposit accounts, the company said. Blend , the home loan tech startup, isn’t done growing. based early growth, FinTech-focused venture capital firm.

San Francisco 180

San Francisco Washington Survey Data 180

PYMNTS

JANUARY 14, 2021

Since the onset of the pandemic, banking activities like opening new accounts and applying for loans are now being done virtually to socially distance and help curb the spread of the virus. This means consumers are turning more to digital tools, but unlocking and embracing the potential benefits of these tools has not been easy.

Video 224

Video social media Millennials Data 224

Payments Dive

AUGUST 4, 2017

Mobile remote deposit capture is not the trendy feature it once was for banks. Today, consumers desire a way for banks to help them make the best decisions with their money. It's expected.

Mobile 305

Mobile 305

Chris Skinner

DECEMBER 18, 2017

I was moderating a panel discussion about Open Banking and the panel’s opening was some research presented by Steve Ogborn and Benedict Ireland of the Unlimited Group. The guys said that only 9% of consumers had heard of Open Banking. That means 91% had no idea what it was.

Groups 311

Groups Digital Banking Innovation Fintech 311

Bank Innovation

JUNE 8, 2017

Payments still belong to banks, according to consumers—even when those payments are being made through a smartphone or an IoT device. The majority of “connected” consumers, nearly 80%, cited their bank as the “most trusted” provider for a digital payment solution, a study by PYMNTs on behalf of Visa found.

Company 303

Company Payments Study Technology 303

Bank Innovation

MAY 19, 2017

Despite all the shiny fintechs out there, consumers still expect innovation in financial services to come directly from banks. Almost half of the consumers –49% of women, and 45% of men– said they are most excited to see new financial product launches at banks, according to a study released yesterday by EY.

Innovation 380

Innovation Fintech Study Operations 380

Bank Innovation

AUGUST 23, 2018

Consumers want banks to do more than just hold their money, they want their banks to help them meet their financial goals. In fact, a new consumer report by CSI shows that 83% of American consumers agree with that statement.

Digital Banking 236

Digital Banking Meeting Report America 236

PYMNTS

JUNE 26, 2020

More than 10,000 financial institutions (FIs) around the world are implementing or exploring open banking , an emerging trend in the financial industry that allows banks and FinTechs to freely share their data, encouraging collaboration and the development of new customer-facing services. Open Banking’s Data Benefits.

System 198

System Data Security Examples 198

PYMNTS

SEPTEMBER 13, 2019

Rampant data breaches have left consumers on edge about digital fraud. In fact, recent PYMNTS research shows that most consumers believe they can do a better job of identifying and protecting themselves against fraud than their FIs, with 71.2 Despite widespread demand for greater mobile banking authentication controls, only 39.9

Fraud 166

Fraud Mobile Digital Banking Security 166

Bank Innovation

DECEMBER 7, 2017

Voice assistants like Alexa and Siri could be the future of banking, as more and more consumers indicate a willingness to interact with their bank through these platforms, a study released this week by NTT Data found.

Study 287

Study Data Analytics Online 287

PYMNTS

OCTOBER 14, 2020

Bank of America (BofA) said on Wednesday (Oct. trillion in spending at Bank of America, customers have spent more than they did last year,” CEO Brian Moynihan told investors and analysts on a conference call following the company’s 3Q earnings release. For example, the bank’s consumer business saw 2.3 That’s down from $5.8

America 203

America Cards Conference Examples 203

PYMNTS

APRIL 23, 2019

Last week, wireless carrier T-Mobile announced it would throw its hat into the mobile banking arena with the national rollout of T-Mobile MONEY. Traditional banks aren’t mobile-first, and they’re definitely not customer-first. Findings from the April 2019 Where Will We Bank Next? percent of all consumers. In fact, 72.4

Millennials 145

Millennials Mobile Study Branding 145

PYMNTS

JANUARY 27, 2021

But for consumers, as noted by PYMNTS research, more than half of subscribers rank saving money among the top three reasons for considering buying subscription bundles. Case in point: as Minna Technologies has noted, the average European consumes has 11 subscriptions in place — and the average household has 21 subscriptions.

Management 181

Management Technology Cards Retail 181

PYMNTS

NOVEMBER 3, 2020

Lingering economic uncertainty and growing fraud rates in multiple markets are prompting consumers to sharpen their focus on privacy and security. Eighty-one percent of consumers in one recent study said that trusting brands was a major factor in determining whether they would interact with them, for example.

Study 192

Study Data Regulation Digital Banking 192

PYMNTS

AUGUST 4, 2020

Banks are increasing their standards for loans to businesses and households, according to the Fed’s latest Senior Loan Officer Opinion Survey on Bank Lending Practices. Over the second quarter, major net shares of banks tightened lending standards on all categories of consumer loans.

Lending 138

Lending Survey Cards Industry 138

Banking Exchange

APRIL 2, 2021

National and global banks prove popular as consumers reassess their banking partners post-pandemic, according to research Retail Banking Financial Trends Feature Lines of Business Feature3 Customers Online Community Banking PPP Covid19.

US 139

US Community Bank Community National 139

PYMNTS

OCTOBER 3, 2019

Consumers want control — everybody seems to know that. But what you probably don’t know is that consumers want the type of financial services control that could potentially reduce their risk for fraud and leave them responsible for more authentication tasks, according to fresh PYMNTS research. More than half of consumers — 54.1

Fraud 151

Fraud Digital Banking Mobile Analysis 151

PYMNTS

AUGUST 30, 2020

banking system is in flux as customer deposits surge and make the safety net for failures fall below a legal limit, The Wall Street Journal (WSJ) reports. The coronavirus pandemic's disruptions have left banks “flooded with cash and it's hard to know what to do,” said Brian Foran, an analyst at Autonomous Research , according to WSJ.

Company 206

Company Lending Report Trends 206

PYMNTS

AUGUST 20, 2019

The launch of the Apple Card is allowing Goldman Sachs to become a leader in consumer banking, according to the bank’s CEO David Solomon. In late March, Apple and Goldman Sachs announced the Apple Card , which users sign up for through Apple Pay. They get approval on their device and can begin using it immediately.

Apple 188

Apple Cards Maine Policies 188

PYMNTS

JANUARY 21, 2020

Though many banks may be betting big on advanced technology to help them in the fight against financial fraud, their customers would feel more secure if they were given more control over their banking apps’ authentication processes. It could also have a very real, profound effect on how consumers use their banking apps.

Survey 151

Survey Security Fraud Analysis 151

PYMNTS

OCTOBER 15, 2020

But bank earnings are showing that loan loss reserves were more conservative than needed (at least for now) and that in some cases, consumer spending and card activity might be emerging from the most recent depths spurred by the pandemic. Thus far into earnings season, a slew of big banks, spanning J.P.

America 220

America Cards Mobile Management 220

PYMNTS

JANUARY 20, 2020

There are a few common themes among big bank earnings reports. consumer is strong, and the ripple effects of strong U.S. consumer spending is carrying over to other areas where banks get their bread and butter. And, increasingly, digital conduits are gaining a share of consumer and commercial spending. In the U.S.,

Cards 134

Cards America Course Mobile 134

PYMNTS

JUNE 25, 2020

This fear of cybercrime comes at a time when banks are exploring open banking systems en masse, which is only exacerbating security concerns. The application programming interfaces (APIs) that fuel open banking are popular targets for cyberattacks, with 473.5 Building Consumer Trust With Open Banking Security.

Fraud 228

Fraud Cards Security System 228

PYMNTS

NOVEMBER 13, 2020

Whether a car loan comes through a dealer, bank or manufacturer, new J.D. Consumer Financing Satisfaction Study. Consumers and Banks Both Like Online Auto Loans. But as economic stimulus funds evaporate and consumers exit accommodation, future delinquencies may see an impact,” Merchant said. Power 2020 U.S.

Online 214

Online San Francisco Trends Marketing Strategies 214

PYMNTS

NOVEMBER 30, 2020

Smartphones have become a ubiquitous part of life for consumers around the globe. Location sharing commonly allows consumers to take part in activities such as ordering grocery deliveries, hailing Uber rides and receiving extremely accurate weather alerts and details. The report surveyed 2,141 U.S.

Fraud 171

Fraud Data social media Millennials 171

American Banker

JUNE 21, 2023

The Consumer Financial Protection Bureau issued two reports analyzing banking and consumer credit trends in the South, where many rural areas are considered "banking deserts."

Trends 78

Trends Report Policies Lending 78

PYMNTS

JULY 30, 2019

Having a simple bank checking account costs an average a monthly maintenance fee of $13.58 Consumers making less than $30,000 a year are twice as likely to incur an overdraft penalty fee than those who make more. That is why, MoneyLion Founder and CEO Dee Choubey said , his firm has set out to build a bank that isn’t a bank.

Digital Banking 190

Digital Banking ATM Study FDIC 190

Bobsguide

APRIL 5, 2019

Open Banking is being forced onto consumers when they haven’t been taught what the benefits might be, and banks must take responsibility for educating their customers before widespread adoption can be expected. “We need to remember a few things about customer demand,” said Simen.

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