Remove Digital Banking Remove Fraud Remove Study Remove User Experience
article thumbnail

Factors Driving Consumer Demand For Banking App Controls

PYMNTS

Rampant data breaches have left consumers on edge about digital fraud. They are not only anxious that their personally identifiable information may be compromised, but also skeptical that their financial institutions (FIs) would be able to spot fraud when it happens. Similarly, 54.1 percent saying so.

Fraud 166
article thumbnail

What Open Banking Means For China, Challenger Banks And SMBs

PYMNTS

Small businesses continue to embrace digital banking. At the same time, digital banks are looking to capitalize on their growing small and medium-sized business (SMB) customer base, with open banking and bank-FinTech collaborations an important part of that strategy. Enfuce Tackles Fraud In Open Banking.

Fintech 192
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Deep Dive: Why Video-Based KYC Is Key To Seamless, Cost-Effective FI Onboarding

PYMNTS

Advocates of the strategy say it provides banks with an error-free way to onboard customers while reducing fraud and preventing application abandonment. . Speedy, secure onboarding is vital at a time when consumers have to use digital banking to prevent health risks. One study revealed that 73 percent of U.S.

Video 201
article thumbnail

Banking-As-A-Service (BaaS) Making Payments Faster And ‘Smarter’

PYMNTS

In many ways, mobile banking’s rapid rise parallels that of banking-as-a-service (BaaS), which is enabling more financial institutions (FIs) to offer digital services with low implementation barriers to be competitive in what is a firmly digital-first environment at this point. The One-Stop Digital Banking Experience.

Payments 259
article thumbnail

NEW DATA: 43M Consumers Are Holding Out On Mobile Banking Apps — How Banks Can Change Their Minds

PYMNTS

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
article thumbnail

Deep Dive: How FIs Can Secure Mobile Onboarding Without Adding Frictions

PYMNTS

Getting the mobile experience right can be tricky, however, and various inconveniences have impeded usersexperiences for years. A 2017 study found that 85 percent of bank respondents did not enable customers who started onboarding on one channel to continue the process on another, for example.

Mobile 130
article thumbnail

Entersekt Teams With Cellulant For More Secure Digital Banking

PYMNTS

24) that the collaboration with Cellulant will help “drive consumer confidence in digital banking and boost the adoption of digital payments on the continent.”. Banking app security was especially problematic, according to the statement. Banking app security was especially problematic, according to the statement.