Insights on Business

APRIL 28, 2017

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.

Digital Banking 171

Digital Banking User Experience Branding social media 171

PYMNTS

JANUARY 14, 2021

Our findings also indicate FIs that offer innovative options such as interactive and contextually relevant video content stand to improve engagement and customer experiences, especially among younger generations like bridge millennials and millennials.

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Video social media Millennials Data 224

PYMNTS

JANUARY 19, 2021

But as GeoGuard CEO David Briggs and People’s United Bank VP of Financial Crimes and Fraud Intelligence Karen Boyer told Karen Webster, realizing the full benefits of using geolocation will take a bit of education – for consumers, yes, but also for banks. Not all data are created equal, of course. Sifting Through Complexity .

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Data Fraud Los Angeles Compliance 227

PYMNTS

AUGUST 14, 2018

2 billion: The amount of deposits Canada’s first digital bank EQ has taken in since its founding in 2016. $1 51 percent: Share of millennials who are more willing to purchase from brands that offer a strong mobile experience.25 billion: Valuation attached to China’s Baby Tree platform after Alibaba’s investment. $2

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Data Millennials Bitcoin cryptocurrency 100

PYMNTS

APRIL 24, 2019

It’s through these channels that most members will engage with their CUs to conduct their digital banking business. However, that’s sometimes easier said than done, as different generations of members have different priorities when it comes to their CUs’ digital banking and mobile app features. Among Gen Z members, 50.4

Innovation 134

Innovation Millennials Digital Banking Mobile 134

PYMNTS

DECEMBER 6, 2019

We have a deep dive into Colorado’s digital driver’s license effort and news on Alphabet’s new CEO, as well as data on millennial Black Friday spending. UK Digital Bank Monzo Taps Visa Exec as US CEO. Monzo , London’s digital unicorn, has appointed TS Anil to head U.S. Top News . operations.

Millennials 101

Millennials Colorado Google Leadership 101

FICO

FEBRUARY 2, 2022

Following the highly successful The 11 Commandments of Digital Banking eBook , we are kicking off a series of 5 deeper dive blog posts that group the 11 commandments below into common themes. Digital lift-and-shift is not a strategy! Respect the data. Banks must find ways to be personable in these impersonal channels.

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Customer Experience Digital Banking Video eBook 52

PYMNTS

MARCH 2, 2020

Big Tech, FinTech and neo-banks are increasingly there to lap up the opportunities innovation is presenting to offer an alternative path to financial services. And according to the data — consumers are increasingly warming up to the idea of taking them up on that offer. According to PYMNTS data, 62.8 percent of IT-enabled banks.

Innovation 222

Innovation Data System Mobile 222

PYMNTS

JULY 18, 2018

76 percent: Share of millennial consumers who report they are always looking to try new and different forms of banking, saving, payment and currency. . $1 76 percent: Share of millennial consumers who report they are always looking to try new and different forms of banking, saving, payment and currency.

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Data Millennials Fraud Community 100

PYMNTS

JULY 25, 2019

Banks need to make sure they’re using tech in ways that keep the fraudsters out, but don’t send customers looking for another service. In the July Digital Banking Tracker , PYMNTS examines how banks are using tools like artificial intelligence (AI) and automation to both fight against fraud and better engage customers.

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Digital Banking Innovation Fraud United States 176

NCR

JUNE 21, 2016

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.

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Millennials Data Study Digital Banking 45

FICO

FEBRUARY 12, 2023

Home Blog FICO Top 5 Customer Development Posts of 2022: Digital Banking and Pricing Opti The most popular posts in our Customer Development category dealt with digital banking, optimizing credit line increases, loan pricing and machine learning for credit risk models. Use location data to say “Good Morning!”

Digital Banking 52

Digital Banking eBook Analytics Customer Experience 52

PYMNTS

MARCH 27, 2020

The latest Entersekt Consumer-Centric Authentication Playbook , the third in the series, has the subtheme “The Path to Banking App Adoption.” Digital and Mobile App Banking Drivers. The report dives into what keeps people using digital and mobile banking apps in the first place.

Mobile 190

Mobile Millennials Digital Banking Security 190

PYMNTS

MARCH 12, 2019

Digital banking customers of today aren’t looking for the bank with the newest features — they’re looking for the bank that can keep their data safe. Any security mishap can send customers to one of the other digital banking apps that are ready and waiting for them. Around the Digital Banking World.

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Digital Banking Fraud United States Security 209

PYMNTS

SEPTEMBER 17, 2019

Mobile banking apps have already enjoyed mass adoption, but what are consumers using them for? And, perhaps more importantly, what do they want from digital banking apps that they aren’t currently getting? Breaking down mobile banking app activity by generation reveals distinct differences. percent of Generation Z and 55.2

Mobile 187

Mobile Millennials Study Digital Banking 187

FICO

DECEMBER 5, 2022

Top 5 Surprises from FICO’s Fraud and Digital Banking Survey. Financial Institutions, such as banks, have expended great effort to improve digital security, yet bad actors are multiplying and attacks have increased in scope and frequency. Yet digital channels can often provide the best experiences at the lowest cost.

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Survey Fraud Digital Banking social media 52

PYMNTS

FEBRUARY 13, 2020

“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. Conventional wisdom may hold that millennials want a purely self-service experience when it comes to their financial lives.

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Millennials Digital Banking Mobile Course 231

PYMNTS

MAY 23, 2019

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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Online Millennials Digital Banking Maine 123

PYMNTS

AUGUST 21, 2020

Community banks and credit unions are feeling the pressure to boost their digital card services or risk losing customers to megabanks and digital challengers, Ondot Systems ’ Chief Strategy Officer Todd Lesher told PYMNTS in a recent discussion. It’s a story told by the data itself, Lesher said. Square announced $1.3

Cards 224

Cards Mobile Community Bank Community 224

PYMNTS

JUNE 22, 2017

New digital banking solutions are creating new options for these citizens to make a difference in the world through their consumer purchases. They’ve never had the ability to actually see what their score is, never had really any data around that,” said Cherny. “We The Right Tool for Millennial Shoppers?

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Millennials Digital Banking Survey Tools 117

PYMNTS

FEBRUARY 14, 2020

Speed matters for FinTechs aiming to bring new products to market digitally and to target consumers not well served by traditional banking models. NEW DATA: Consumers Like Cashier-less Retail But Retailers Aren’t Hitting The Mark. Reynolds CEO: Recreating Grocery’s Home Goods Aisle For The Millennial.

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Retail Cards Millennials Fraud 141

PYMNTS

JUNE 9, 2020

“Whether it’s messaging or it’s true innovation, these challenger banks are making inroads in building a consumer base,” Chambers told Webster. Conversely, challenger banks’ data-driven, in-house-built, advanced-technology-underpinned platforms can, in effect, predict what consumers will want. “If

Digital Banking 133

Digital Banking Millennials Lending Marketing 133

Banking 2020

APRIL 28, 2015

Digital banks are no longer in the ‘money’ business but rather, in the ‘value’ business. Unlike in the past, when more than two products from one bank made a customer loyal, customer behavior is fleeting and their expectations for digital banking is increasing every day, because technology is giving them numerous choices and control.

Customer Experience 40

Customer Experience Digital Banking social media Millennials 40

PYMNTS

AUGUST 7, 2019

In Phase I, 20 banks made 500 APIs available spanning mobile and website-based services tied to loans and FX data. As reported earlier this year, Hong Kong regulators awarded three digital banking licenses.

Digital Banking 129

Digital Banking Fintech Millennials Data 129

PYMNTS

SEPTEMBER 24, 2019

Digital banks , for one, are teaming up with technology providers to accelerate settlement times for payments collected at the point-of-sale (POS). Legacy banks are similarly at work, with one major FI seeking to beat out FinTech competition by offering same-day access to credit card deposits.

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Mobile Payments Apple Millennials 246

PYMNTS

JUNE 21, 2017

June’s PYMNTS Digital Banking Tracker™ looks at the latest trends in the digital banking space, including efforts by banks and FinTechs to give consumers new insights into their finances and the latest developments on the path toward Open Banking. About The Tracker.

Report 131

Report Digital Banking Millennials Fraud 131

PYMNTS

DECEMBER 11, 2018

And that’s unlikely to change in 2019 or beyond, given the growing purchasing power of bridge millennials. up 30 percent from 2017, according to figures from First Data and a recent year-end webinar conducted by Glenn Fodor, head of First Data insights. Digital Banking. That trend is certainly nothing new.

blockchain 170

blockchain Retail Trends Mobile 170

PYMNTS

DECEMBER 22, 2016

According to Chris Britt, CEO of mobile-first banking platform Chime, consumers are getting frustrated with larger, traditional financial institutions. And this frustration has created an opening for digital banking newcomers like Chime to swoop in and address these consumers’ concerns. The millennial advantage.

Millennials 100

Millennials Digital Banking Mobile Industry 100

Accenture

APRIL 26, 2017

A breakdown of the 2016 findings by age (see Figure 2) reveals what many might regard as a surprising outcome—with millennials being by far the heaviest users of branches, tapering down to OAPs as the lightest. All of this leads us to the million-dollar question: What kind of banking model do customers actually want?

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Millennials social media Innovation Study 233

PYMNTS

SEPTEMBER 15, 2020

Necessity being the mother of invention, consumers rapidly reset their lives around digital across the board — from working to shopping to learning to managing their financial lives online. And the share of digitized consumers only goes up as ages go down. But an opportunity is only as good as the bank’s ability to pursue it.

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Fintech Idaho Apple Google 224

PYMNTS

JUNE 27, 2019

In the latest Digital Banking Tracker™ , PYMNTS examines how banks are innovating to address these security vulnerabilities. Around the Digital Banking World. Banks and payment players are adopting new technologies to keep customer data safe. In the U.K., About the Tracker.

Customer Experience 109

Customer Experience Digital Banking Innovation Security 109

PYMNTS

SEPTEMBER 24, 2019

The financial world has become more and more entrenched in digital channels, much to customers’ delight — 59 percent of FI consumers want to open banking accounts online rather than do so at a branch. That number is higher among millennial and Generation X respondents, at 77 percent and 63 percent, respectively.

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social media Millennials Illinois Strategy 111

PYMNTS

APRIL 2, 2020

Competition for customers — especially millennials — from larger banks and FIs has long required credit unions to keep pace with their more innovative counterparts. This often means providing digital solutions and convenient banking options despite smaller technology and innovation budgets, however.

United States 174

United States Security Innovation Mobile 174

PYMNTS

MAY 29, 2020

And opportunities exist for digital-first and hybrid models to be successful, as long as they have an unwavering focus on discovering and solving customer problems, according to five observers. SBA Data Show At Least $20B Of PPP Loans Have Been Canceled. NEW DATA: Inside Main Street SMBs’ Digital Shift.

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Maine ATM Innovation Millennials 130

PYMNTS

DECEMBER 21, 2016

The December edition of the Digital Banking Tracker™ details how financial institutions are working to help their consumers stay in good fiscal shape next year. Meanwhile, FinGo and eWise are also offering a new app to help millennial customers manage multiple bank accounts from a single screen. About The Tracker .

Mobile 100

Mobile Report Digital Banking Exercises 100

PYMNTS

DECEMBER 28, 2018

Satisfying consumers will be about leveraging technology to “know more up front,” and using that data to both protect consumers and customize their experiences. For all the benefits of the digital age, the endemic breaches have made up one particularly glaring cost. Today, in a post-data-breach world, that approach isn’t very useful.

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Fraud Mobile Security Cards 131

PYMNTS

MARCH 3, 2017

A new survey from banking data firm RateWatch is bad news for banks looking to entice SME customers with new mobile offerings. Small businesses aren’t impressed by mobile banking, the report , released Thursday (Mar. 2), concluded.

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Mobile Survey Millennials Meeting 100