The Digital Customer is Here to Stay – Five Principles to Keep Them Engaged

Accenture

In my first blog in this short series on how the behaviour of UK financial services customers has changed amid the pandemic, I looked at the way COVID-19 has accelerated consumers’ migration to digital banking services. Uncategorized Customer behaviour Digital Banking digital services

Finding the Human Touch in an Increasingly Digital World

Accenture

The spike in demand for digital banking experiences caused by the COVID-19 pandemic has already reshaped the global banking industry. As our recent Global Banking Consumer Study found, the pandemic has driven a huge shift towards digital interactions in every market.

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Digital Banking for the Poor

Chris Skinner

I have a few friends around the world that I pick up on, and The World Bank and CGAP are amongst that crew. Digital Bank Future Grid Numbers

Customers don’t want digital banking

Chris Skinner

So my snarky little friend Ron Shevlin wrote a piece on Forbes claiming that Americans don’t want a digital bank. As the guy who wrote the book Digital Bank you might think I would take offence to such a statement, but no. I agree with his content, just not his … The post Customers don’t want digital banking appeared first on Chris Skinner's blog. Digital Bank Fintech Future Grid Opinion

Philippines Grants Digital Banking License to PayMaya

PYMNTS

The Bangko Sentral ng Pilipinas, the central bank of the Philippines, has approved a digital banking license for the FinTech PayMaya. The company, an arm of Voyager Innovations, will set up a digital banking unit called Maya Bank, CNN Philippines reported on Monday (Sept.

Digital Banking Apps Cashing In

PYMNTS

Whatever nomenclature you prefer — neobank, challenger bank, digital bank — the common denominator is app-based convenience and the power of algorithms to help manage and save that has people downloading these apps like mad. 1 again is challenger bank Chime , followed at No.

Digital Banks And AI Firms Target IPOs  

PYMNTS

But beyond that splashy debut, the PYMNTS SPAC/IPO Tracker showed some incremental growth in financial services – specifically, banking and payment listings. Digital Banking and AI, Too . IPO artificial intelligence Digital Banking Editors' Picks ipo News SPAC What Is Investing

BluCurrent Credit Joins PSCU for Card Processing, Digital Banking

PYMNTS

BluCurrent Credit is partnering with the credit union service organization (CUSO) PSCU for debit and credit card processing, support services, and digital and mobile banking solutions from PSCU’s subsidiary, Lumin Digital.

Advances in Digital Banking

Mobile Payments Today

The world of banking continues to change and evolve

JPMorgan Chase to Debut Omniservice UK Digital Bank

PYMNTS

debuting its first overseas retail bank in its more than 200-year history, the Financial Times (FT) reported Thursday (Sept. The bank will be digital-only. Read more: JPMorgan Chase Plans Rollout Of UK Digital Retail Bank.

Standard Chartered Seeks Digital Banking Permit in Singapore

PYMNTS

s Standard Chartered bank is embarking on a joint venture deal with Singapore’s National Trades Union Congress (NTUC) to launch a digital-only bank. bank told Reuters the decision on branding for the digital bank in Singapore is still forthcoming. The U.K.’s

Hungary's Perfinal Launches CBDC-ready Platform That Creates Digital Banks

PYMNTS

Perfinal , the Hungarian core banking provider, says its new platform will be ready for central bank digital currencies (CBDCs), a press release says. This is advanced Fly-By-Wire tech for banks,” says CEO Mate Brezovszki.

The CEO and Chair make digital banking work

Chris Skinner

I claim that most of the banks embracing true digital transformation and not just treating digital as a channel, are led by people who understand technology. They have a leadership team who are passionate about digitalisation, and see it as a core raison d’etre of the bank’s future. Not just … The post The CEO and Chair make digital banking work appeared first on Chris Skinner's blog. Digital Bank Grid

Digital banks have fast and regular communication

Chris Skinner

A further aspect of the digital banks I am talking with is that they have reviews all the time. It is quick, frequent and informal unlike the old industrial … The post Digital banks have fast and regular communication appeared first on Chris Skinner's blog. Digital Bank GridNot formal reviews, but fast meetings with the business people, designers, developers and even audit and compliance all around the table.

Little Bó peeps … creeps … and sleeps … why big banks fail at digital banks

Chris Skinner

In the latest example of a bank that couldn’t hack the digital bank market, RBS gave up on Bó last week. It surprised me as the bank only launched last November, to a fanfare of £100 million investment and the acquisition of the start-up they had been co-funding, Loot.

Digital Banking Gaining Scores Of New Users

PYMNTS

Migration to mobile and digital banking ramped up during the pandemic. It’s one of numerous revelations in PYMNTS’ Leveraging The Digital Banking Shift Report , a collaboration with Feedzai , based on a survey of nearly 2,200 U.S. percent of mobile banking users and 53.1

UK Digital Bank Revolut Introduces Daily Interest On Savings

PYMNTS

London FinTech and digital bank Revolut is introducing daily interest on Savings Vaults for standard plan users, with no fees or minimum balance requirements, the company said in a press release emailed to PYMNTS on Friday (July 23). .

Juniper Research sees digital banking poised for growth

Mobile Payments Today

Digital banking is poised to take off as incumbent banks move much of their business to mobile channels to compete against a new generation of digital-only startups

Bright Spots In Retail And Digital Banking

PYMNTS

And in banking, self-service technologies have become even more popular, while in authentication, artificial intelligence (AI) can power smooth onboarding. 41% : Share of North American consumers who are more likely to open a bank account digitally.

Digital banks are led by clear customer-obsessed principles

Chris Skinner

Another key factor of the digital banks I’m talking to is that the customer is their primary focus. This is something I’ve found quite rare in most banks, as the retail customer is … The post Digital banks are led by clear customer-obsessed principles appeared first on Chris Skinner's blog. Digital Bank GridNot the shareholder, the investor, the quarterly bonus, the dividend yield or the cost-income ratio. The customer.

What Digital Banks Are Doing Right

PYMNTS

The past several years have been good times for digital banking players popping up to challenge traditional brick-and-mortar financial institutions for market share, but recent months have accelerated that trend into overdrive.

Positive Developments In Retail And Digital Banking

PYMNTS

Kohl’s reported that its store sales soared during its most recent quarter, while the retailer’s digital sales climbed year over year. And in banking, credit unions (CUs) can close the gap between their own innovation agendas and the expectations of members.

MODO, Spreedly Join Forces to Bolster Digital Banking in Argentina

PYMNTS

In an effort to help consumers in Argentina connect all of their bank accounts and cards in one location, payments integration platform Spreedly will support digital wallet firm MODO’s more than 35 bank partners across Argentina, the companies announced in a recent press release.

Digital banking? Isn’t that just an app?

Chris Skinner

I meet a lot of senior executive teams of large banks. I talk to them about the fintech world of change and how millennials are reshaping banking, from Stripe, started by two … The post Digital banking? Digital Bank Grid OpinionSome are visionary, many are committed and a large number understand that life is changing. Few understand how.

Digital Banking Apps Vs The Establishment

PYMNTS

Dubbed “challenger banks” for shaking up the status quo of banking as we’ve always known it, digital banks with awesome apps are the FinTech alternative to more staid financial institutions whose roots go deep, but may also seem a bit dazed by the pace of tech change to the their sector.

Philippines Shutting Down Digital Bank Requests

PYMNTS

19) announced that the country’s central bank would stop accepting digital banking applications on Sept. The Monetary Board approved the applications of five digital banks, including UNObank, UnionDigital Bank and GoTyme.

Today In Digital Banking: Lyft Boosts Driver Loyalty, Stablecoin Use Increases, TruMark Teams With NCR

PYMNTS

Today in digital banking, there is the slow emergence of stablecoins. Plus, Lyft pays drivers when they finish their shifts, among other loyalty boosters, and TruMark Financial Credit Union partners with NCR on digital banking.

Are you really a digital bank? (just shake it off)

Chris Skinner

I was in a conversation the other day where someone asked me how I can tell if a bank is really trying to be a digital bank or just a bank. I … The post Are you really a digital bank? Digital Bank Grid OpinionOff-the-cuff I immediately said that I have a litmus test to work out the answer to that question. just shake it off) appeared first on Chris Skinner's blog.

BankID and OneSpan Partner on Digital Banking Security

PYMNTS

BankID will lean on the cloud authentication and anti-fraud offerings from digital banking platform OneSpan to “improve the customer experience and help secure one of the most widely used applications in Norway,” according to an announcement on Wednesday (Sept.

Digital banks are 35+ times more productive than traditional banks

Chris Skinner

I’m launching the new book Digital Human in New York on the evening of April 12. BTW, I’ve also heard a lot of people have been frustrated that Amazon cancelled their pre-orders of the new … The post Digital banks are 35+ times more productive than traditional banks appeared first on Chris Skinner's blog. Blog Index Case Studies Chris Skinner Digital Bank Fintech Future Grid Inclusion Innovation Mobile Numbers Opinion Payments Technology

Ribbit Capital Invests in Indonesian Digital Bank, Bank Jago 

PYMNTS

Venture capital firm Ribbit Capital recently bought a minority stake in a Jakarta-based digital bank Bank Jago , the country’s first fully digital bank, according to a report Monday (Oct. Ribbit Capital did not say how much it invested in Bank Jago. .

Majority launches digital banking products for immigrants

Bank Innovation

Majority, a digital banking platform aimed at immigrant communities, launched to U.S. Carousel Customer Experience Product Design Retail Banking Majority Nova Credit Remitly Visaconsumers this week after a four-month beta test.

Digital Bank Brings Special Treatment To Debt-Strapped Doctors

PYMNTS

In an interview with PYMNTS, Jamie Warder , executive vice president and head of Digital Banking at KeyCorp, said that a new digital bank geared toward healthcare professionals can help them chart a new path toward financial health. Physician, heal thyself — financially.

Today In Digital Banking: Revolut Payday Speeds Wage Access; CloudPay And One Grab New Funds

PYMNTS

Today in digital banking, CloudPay grabs $58 million in a fundraising round. Digital Banking banking CloudPay News Revolut Today in digital banking

Digital banks look more like Big Tech and vice versa

Chris Skinner

I found it interesting to hear that many of the banks focused upon digital are studying, visiting, talking to and hiring people from the Big Tech firms. I always remember the comment … The post Digital banks look more like Big Tech and vice versa appeared first on Chris Skinner's blog. Digital Bank Grid