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Deep Dive: How FIs, Customers Are Navigating The Coronavirus-Inspired Spike In Digital Banking Demand

PYMNTS

Banks must now consider how to best expand remote services and emphasize these channels once consumers can safely visit branches again. This month’s Deep Dive examines how consumers are approaching digital banking and how FIs are leveraging online and mobile channels to prevent service gaps during the pandemic.

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Teenager-Focused Digital Bank Wins Fresh Funding

PYMNTS

Much thought is given to millennials and even Generation Z — consumers who were born during fixed periods of time, and who are having an increasing impact on payments and commerce. But let’s not forget the role of the teenager in digital retail, financial services and transactions. million in fresh capital.

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Affirm Unveils High-Yield Savings Account With Optional Auto-Deposit

PYMNTS

The alternate payment company said the offering is available through its app, which users can download from the Google Play Store or App Store. Affirm said that millennials and Generation Z comprise more than half of Affirm’s user base and are “especially suspicious of the fine print and hidden fees linked with traditional banking services.”

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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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NCR: How Platforms Enable Banks To Be ‘Digital-First’ Fast

PYMNTS

That means integrating the Google Pays and Apple Pays of the world, but also going beyond those consumer-focused wallets — embracing merchant rewards, as well as promoting tighter integration between FIs and various incentive and loyalty programs. “The Looking At Open Banking. Open Banking is taking root in the U.S.

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Why Mobile Card Apps Must Be More Than ‘A Nice Little Tool’ For FIs

PYMNTS

According to Building A Better App: Banks And The Innovation Imperative , a report co-produced by PYMNTS and Ondot , almost a quarter, or 24.3 percent, of consumers reported they would be highly likely to seek banking services with Amazon , Apple or Google — while another 23.5 Meanwhile, 28.5

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Step Aside, Millennials — Why Fintechs Are Targeting Baby Boomers & Retirees

CB Insights

Fintech is often associated with digital tools targeted at tech-savvy millennials. While many Boomers and senior citizens may not be aware of the wide variety of fintech services available to them, such as digital banking, a number of tools exist that aim to raise awareness. . get the REPORT on next generation investors.