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Digital banking? Isn’t that just an app?

Chris Skinner

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? Some are visionary, many are committed and a large number understand that life is changing. Few understand how. Isn’t that just an app?

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Digital Banking, With Millennial, Mobile – And Governmental – Tailwinds

PYMNTS

The push toward digital banking seems an inexorable one, with the technology and demographics acting as tailwinds, and where governments have increasingly gotten into the act of promoting digital banks (the pure-play kind) and making forays into bits and bytes, where once paper and face-to-face transactions reigned.

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Turns Out, Millennials Are Not That Unique

Bank Innovation

Millennials are in the driver’s seat of innovation. If you’re in fintech, you’ve probably heard that statement more than once. But a new study from FIS, released this week, suggests that millennials are not as unique as many think — at least in terms of financial service preferences.

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Credit Unions Unite Behind Digital Banking

PYMNTS

Specifically, the metamorphic impact of mobile open banking and instant payments has been the first real test of the trust bond that holds CUs together. With the possible exception of FinTechs that stand to gain from customer defections and perhaps some legacy banking competitors, no one is rooting against the CUs.

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The Race For Singapore’s Digital Banking Licenses

PYMNTS

In late June, the Monetary Authority of Singapore (MAS) sent a ripple through the global financial services ecosystem with the announcement of its intention to issue five digital bank licenses to eligible applicants. Only two of the licenses will full digital banking licenses, while the other three will be wholesale banking licenses.

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Ukrainian Bank Partners With Swedish FinTech

PYMNTS

Ukrainian bank UKRSIBBANK, part of BNP Paribas Group, is teaming up with Dreams , a financial wellness FinTech startup based in Sweden. Rosvall added that its “mission of helping millennials save more and feel better about their money” makes Dreams an “ideal” partner.

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The Pandemic’s Push For The FI/FinTech ‘Win-Win’

PYMNTS

That number climbs to 38 percent among baby boomers, 74 percent for Generation Xers and 85 percent for millennials and Generation Z consumers. Kikkeri said this is the highest penetration that mobile banking has ever seen among consumers. But an opportunity is only as good as the bank’s ability to pursue it.

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