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. Building smarter, more informed consumers.

Report 131

Report Digital Banking Millennials Fraud 131

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

MARCH 13, 2017

As banking becomes more digital, more financial institutions are turning to technological solutions to bring more customers on board. Several banks are rolling out banking solutions that are specifically focused on winning over millennial customers as they come of age and join the marketplace as adults. In the U.K.,

Report 149

Report Digital Banking Millennials Tools 149

CB Insights

JULY 25, 2019

Fintech is often associated with digital tools targeted at tech-savvy millennials. But there is a growing market of fintech companies serving the unique financial needs of Baby Boomers and older retirees — and for good reason. get the REPORT on next generation investors. Fintech cos are trying to prevent fraud.

Millennials 73

Millennials Fintech Tools Fraud 73

PYMNTS

DECEMBER 3, 2019

Also, Visa is working with four global finance firms to help FinTechs issue plastic as well as digital payments. And London’s digital unicorn Monzo has appointed TS Anil to head up U.S. 9, will report directly to company CEO and President Charlie Scharf. He will also serve on the bank’s operating committee.

Fintech 132

Fintech Colorado Payments Operations 132

PYMNTS

JANUARY 8, 2021

In today’s top digital-first banking news, clients of BBVA subsidiary Simple Bank are reportedly getting emails telling them that Simple is closing and the intent is to move them to BBVA, while the Treasury Department announced that stimulus Visa debit cards are being mailed to homes.

Cards 143

Cards Digital Banking Millennials Report 143

PYMNTS

AUGUST 13, 2019

Digital challenger banks are hoarding money to take on traditional banking competitors and have raised a total of $2 billion from eager investors, The Financial Times reported on Tuesday (Aug. Digital banking startups are popular in Europe, dangling low fees and mobile apps to attract more customers.

FDIC 164

FDIC Millennials Capital Fintech 164

PYMNTS

APRIL 18, 2017

From selfie authentication to finance tools that respond to emojis to computer-generated avatars that look and act like real people, new technological tools are giving digital banking a makeover. The April PYMNTS Digital Banking Tracker™ looks at the various ways technology is changing the digital banking landscape.

Report 110

Report Digital Banking Tools Technology 110

PYMNTS

AUGUST 17, 2017

But, while closing physical bank branches might appear to be a wise cost-saving measure, the move comes with risks that could hurt banks’ relations with new millennial customers. found banks that close their physical branches risk losing existing customers to rival banks. Getting in Front of Change.

Millennials 132

Millennials Digital Banking San Francisco Fintech 132

Gonzobanker

APRIL 4, 2024

While valuation at many fintechs has dropped since 2022, Chime has bucked the trend. Bloomberg recently reported that Chime, the leading fintech neobank, is planning to go public in 2025. According to the report , Chime has not engaged investment banks to date. of Millennials, 7.5% Is it ready for an IPO?

Comparison 104

Comparison Fintech America Survey 104

PYMNTS

OCTOBER 22, 2020

As has been reported in this space , in the year to date there have been more than 143 SPAC transactions, with gross proceeds of roughly $55.1 That trend has pushed FinTechs and FIs to craft more direct financial interactions with consumers. In the great digital shift, as Purcell mused, is every app becoming a bank (and vice versa)?

Fintech 169

Fintech Capital Innovation Data 169

PYMNTS

AUGUST 7, 2019

Open banking continues to make progress, as the Hong Kong Monetary Authority said this past week that phase two of its framework, out of four, is set to launch. As reported earlier this year, Hong Kong regulators awarded three digital banking licenses. The solution is currently in beta phase, reports noted.

Digital Banking 129

Digital Banking Fintech Millennials Data 129

FICO

AUGUST 19, 2022

Tackling the Fintech Threat: A Guide for Banks and Credit Unions. What financial institutions need to compete with fintech threat disrupters. As FinTech funding rises to new record levels – $131.5 As FinTech funding rises to new record levels – $131.5 banks collected $15.47 Thu, 12/19/2019 - 16:29.

Fintech 52

Fintech Millennials Lending Tools 52

PYMNTS

MAY 1, 2020

Debit has been riding a wave of popularity for years as credit-averse millennials and their cohorts became big spenders, but didn’t want to end up like their overextended parents did in 2008. The COVID-19 pandemic has consumers around the world turning to digital devices to access banking services,” the report states.

Guidelines 131

Guidelines Digital Banking Millennials Online 131

PYMNTS

JULY 1, 2020

The details are offered in Building a Better App: Banks and the Innovation Imperative Report , a collaboration between PYMNTS and Ondot Systems, the Silicon Valley-based FinTech. The rate rises to 60 percent among bridge millennials, those between the ages of 30 and 40. . The results?

Survey 183

Survey Cards Millennials ATM 183

PYMNTS

FEBRUARY 14, 2020

The People’s Bank of China said it has approved an application by Mastercard’s Chinese joint venture to run a bank card clearing business in the nation. Wells Fargo CEO Charles Scharf wants to get rid of any inkling of scandal by overhauling the firm’s reporting lines, revamping its three divisions into five.

Retail 141

Retail Cards Millennials Fraud 141

PYMNTS

FEBRUARY 25, 2020

As the report states, “We … find that a significant share of consumers are willing to bank with the institutions — financial or otherwise — that offer them the best spending and money management tools.”. The highest interest is among “bridge millennials” whose card spend averages $40,000 annually.

Mobile 153

Mobile Cards social media Survey 153

PYMNTS

MARCH 2, 2020

It’s one of the themes explored in the February 2020 Digital-First Banking Tracker® , done in collaboration with NCR Corporation. We’ve all heard that millennials, for example, think of bank branches as a vestiges of another century with little relevance to their financial lives. Is that what people really want?

ATM 191

ATM Millennials Retail Video 191

PYMNTS

SEPTEMBER 10, 2019

Customers of the WePay platform can now get faster deposits to their JPMorgan Chase bank accounts, CNBC reported on Tuesday (Sept. Because we are a bank [as well as a payments processor], we can deposit their credit-card proceeds the same day, including weekends, at no additional cost.”. For example, Stripe charges 1.5

Millennials 194

Millennials cryptocurrency Cards Payments 194

PYMNTS

OCTOBER 17, 2019

The French payment processor Lemon Way has announced a near-$28 million (€25 million) investment round by the multi-asset fund management firm Toscafund, Aithority reported on Thursday (Oct. The startup said in a blog post that it now has 10 relationships with major banks and plans to further develop partnerships with financial institutions.

Fintech 100

Fintech Capital Millennials US 100

PYMNTS

JANUARY 12, 2020

million in a Seed funding round for its neo-bank epiFi, led by Sequoia India and Ribbit Capital, TechCrunch reported on Sunday (Jan. Sujith Narayanan and Sumit Gwalani, both co-founders of Google Pay India — formerly called Google Tez — said the seed funding brings the neo-bank startup epiFi to a valuation of roughly $50 million.

Google 101

Google Capital Millennials Digital Banking 101

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. However, the CCSI report also found one of the bigger obstacles for consumers who want to spend their money responsibly is not knowing where to find socially responsible products.

Millennials 117

Millennials Digital Banking Survey Tools 117

NCR

APRIL 16, 2018

.” As brands seek to build up and maintain a loyal customer base in this congested region, one goal that could prove to be more significant than any other (at least as far as customer experience is concerned) is getting digital banking right. Digital demands. Image: mdgomes via iStock.

Digital Banking 49

Digital Banking Regional Customer Experience Industry 49

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

PYMNTS

MAY 29, 2020

FIs Or FinTechs: Who Will Power Banking’s Big Digital Shift? The pandemic has sped up the digital roadmap for everyone in financial services, providing for more innovation in the last few months than had been seen during several years. SBA reports show that $510.5 Trackers And Reports.

Maine 130

Maine ATM Innovation Millennials 130

PYMNTS

SEPTEMBER 21, 2016

According to recently released research from the American Bankers Association, mobile banking is becoming increasingly popular among consumers of young ages. Members told us they had been using other voice technologies, like the Alexas or Siris of the world, and they wanted to use the voice command to do their banking,” Advani explained.

Digital Banking 100

Digital Banking Mobile Apple Millennials 100

PYMNTS

JANUARY 24, 2020

banking customers about what makes (or breaks) a mobile banking CX. What they said may surprise FinTech insurgents and orthodox bankers, because what they want is simple: more digital sway when it comes to their own money. percent) think bank apps should be easier to use. Six Sides of the Bank App Persona.

Mobile 166

Mobile Fraud Millennials Security 166

PYMNTS

JUNE 7, 2019

FinTech across the pond: Card giants are stepping up their support for FinTech , especially in Europe. Mastercard has announced a new generation of its Accelerate program, which helps FinTechs broaden geographic reach. Visa has launched b.yond, which helps FinTechs bring new payments capabilities to clients.

Fintech 101

Fintech Study Online Retail 101

CB Insights

NOVEMBER 5, 2019

There are just two China-based fintech businesses valued at over $100B in the world. The second, conceivably, is Tencent’s fintech business. In May 2019, Barclays released a note estimating the value of Tencent’s fintech business at $123B, or close to a third of the company’s total market cap. billion yuan).

Fintech 51

Fintech social media Analysis Marketing 51

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. According to the latest edition of the Innovation Readiness report, only 22.3 A much larger share, 48 percent, only say their core systems are so enabled.

Innovation 222

Innovation Data System Mobile 222

CB Insights

JULY 11, 2019

get the building the bank of the future report. Download the free report to find out about the rise of digital banking, challenger bank strategies and how incumbents are fighting back. oVER 20 Fintech startups with 1m+ customer accounts. oVER 20 Fintech startups with 1m+ customer accounts.

Fintech 64

Fintech cryptocurrency Examples Cards 64

CB Insights

DECEMBER 10, 2020

Bank of America, for one, saw profits drop 16% year-over-year (YoY) in Q3’20 to $4.9B. The pandemic has also accelerated recent trends in banking, especially among the millennial demographic, which tends to favor digital banking and online brands over traditional banks. First name. Company Name.

America 101

America Lending Cards San Francisco 101

CB Insights

AUGUST 2, 2018

One of the biggest trends in fintech today is the rise of digital banking products like mobile checking accounts and new debit cards. From Square to Paypal, a host of fintechs are creating products that let consumers spend money directly out of digital accounts using a physical card. get the 86-page fintech report.

Cards 71

Cards Fintech UX Strategy 71

PYMNTS

MARCH 3, 2020

Mobile and online banking’s prevalence has reduced physical branches’ importance, but these brick-and-mortar establishments are still vital to customers’ financial lives. Even millennials , who heavily lean on remote banking, still visit physical bank locations for more complex functions, such as loan applications.

ATM 151

ATM Fraud Study Regional 151

PYMNTS

OCTOBER 8, 2019

The Millennial Challenge. Among the greatest opportunities for CUs lie some significant challenges, too — namely, tapping into and serving the financial needs of millennials. There’s a younger generation in the U.S. that has yet to learn what a credit union is — and what CUs can do for them, Fagan told Webster.

United States 102

United States Millennials Course Lending 102

Gonzobanker

OCTOBER 5, 2022

In addition, about three in 10 respondents said reporting lost or stolen cards, cardless ATM access, turning debit and credit cards on or off, and person-to-person (P2P) payments were features that would lead them to be “extremely likely” to switch banks. SOURCE: S&P GLOBAL. close out one account and open another.

Survey 78

Survey Mobile ATM Cards 78

Gonzobanker

OCTOBER 5, 2022

In addition, about three in 10 respondents said reporting lost or stolen cards, cardless ATM access, turning debit and credit cards on or off, and person-to-person (P2P) payments were features that would lead them to be “extremely likely” to switch banks. SOURCE: S&P GLOBAL. close out one account and open another.

Survey 78

Survey Mobile ATM Cards 78