PYMNTS

JANUARY 14, 2021

Restrictions on in-branch interaction are now causing financial institutions (FIs) to better engage with consumers and offer personalized banking experiences with mobile apps, online chat and contextual video content.

Video 224

Video social media Millennials Data 224

PYMNTS

JANUARY 19, 2021

That simply won’t fly in the digital-first decade. Researchers found that FIs offering “innovative options such as interactive and contextually relevant video content stand to improve engagement and customer experience, especially among younger generations like bridge millennials and millennials.”.

Study 196

Study social media Millennials Retail 196

PYMNTS

MAY 1, 2020

Among the fascinating findings in PYMNTS’ ongoing surveys of Main Street SMBs during the pandemic is this: A majority of small businesses that did not apply for government bailouts simply wished to avoid debt. 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

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. Results also noted this generation is less likely to open a bank account if physical bank locations are not available in their communities.

Millennials 132

Millennials Digital Banking San Francisco Fintech 132

Accenture

APRIL 26, 2017

For years, we’ve heard people proclaiming the demise of the bricks-and-mortar bank branch, supposedly swept away by customers’ mass-migration to online and—increasingly—mobile alternatives. But as our latest UK banking consumer survey— Beyond Banking —confirms, there’s still plenty of life in the bank branch.

Millennials 233

Millennials social media Innovation Study 233

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. Turns out that’s inaccurate. In the U.K.,

ATM 191

ATM Millennials Retail Video 191

PYMNTS

JUNE 9, 2020

Right now, at least as found recently in the PYMNTS/PSCU collaboration , “Credit Union Innovation Playbook: Challenger Banks Edition,” CUs face some competitive pressures. . As the survey of more than 4,000 CU members, CU leaders and FinTech executives showed, 41.4 They acquire a lending product, and then a digital banking platform.

Digital Banking 133

Digital Banking Millennials Lending Marketing 133

PYMNTS

NOVEMBER 30, 2020

How can banks better communicate the benefits of location sharing — and its vast potential to combat fraud — to customers who are on the fence? This is one of the many questions we sought to answer in Location, Location, Location: How Location Data Can Help Banks Prevent Online Fraud , a PYMNTS and GeoGuard collaboration.

Fraud 171

Fraud Data social media Millennials 171

Banking 2020

JANUARY 30, 2015

Latest mobile-banking research shows laptops still reign: A recent survey of 1,000 American adults showed that Americans are still using their laptops to conduct simple banking transactions. Over three quarters of those surveyed responded that they anticipate using their laptop for banking activities in the next two years.

Apple 40

Apple Online Payments United States 40

CB Insights

JULY 25, 2019

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. . Cake is another online estate planning tool.

Millennials 73

Millennials Fintech Tools Fraud 73

Accenture

MAY 7, 2019

This got me thinking—in the Instagram and Facebook era of instant online gratification, just how important is the ability to create a relationship with a bank at the swish of your mobile? And it’s not just millennials who are thinking of jumping ship. However, this isn’t just a frustration for your average millennial.

Customer Experience 178

Customer Experience Online Millennials social media 178

PYMNTS

AUGUST 5, 2016

That could mean plenty of savings for banks in the coming years, according to the latest PYMNTS.com Digital Banking Tracker. The July edition of the Tracker reports that surveys from both Bank of America and Chase indicate that consumers are planning to make more digital and mobile purchases in the years ahead.

Payments 100

Payments America Millennials Digital Banking 100

Abrigo

OCTOBER 21, 2019

“I’ve found that attracting younger, millennial talent is almost like attracting clients,” said McBay. While young professionals value dynamic, creative work environments, innovation, and professional development, banks rank poorly in these key areas to this demographic, according to Deloitte’s Talent in Banking survey.

Oklahoma 218

Oklahoma Millennials Innovation Technology 218

Tech and Finance

JUNE 14, 2018

In a recent blog at Articulate Communications I wrote about the number of surveys that public relations firms send out, and how useless many of them are. I just reviewed my Inbox to see what the recent evidence is…the results are below and include six surveys I have received so far today.

Survey 28

Survey Millennials Fraud Mobile 28

PYMNTS

MARCH 2, 2018

For millennials, these cards simply don’t induce the same debt-based anxieties as credit cards. A recent survey found credit card debt is a source of considerable worry for millennial consumers, with 33 percent reporting it as the most feared life aspect. Winning the millennial market. Think like a retailer.

Millennials 101

Millennials San Diego Cards Retail 101

PYMNTS

APRIL 2, 2020

Competition for customers — especially millennials — from larger banks and FIs has long required credit unions to keep pace with their more innovative counterparts. This often means providing digital solutions and convenient banking options despite smaller technology and innovation budgets, however.

United States 174

United States Security Innovation Mobile 174

Accenture

OCTOBER 3, 2017

Now, with PSD2 implementation across Europe just a few months away, new research from Accenture points to a major opportunity for UK banks: We’ve found that more than two-thirds (69 percent) of UK consumers say they won’t share their personal financial data with third-party providers. So why not? It all comes down to a lack of trust.

social media 151

social media Millennials Online Fraud 151

Accenture

JUNE 16, 2017

In my first blog of this series on our latest UK banking consumer survey— Beyond Digital —I explained why there’s still plenty of life in the bank branch, since even younger customers still value human interaction. In contrast, fewer than half feel they need human guidance on using their bank’s online and mobile services.

Millennials 186

Millennials Maine Study Security 186

PYMNTS

JUNE 22, 2016

When it comes to American consumers, many may not be ready to admit how dependent they’ve grown on devices and the impact that’s had on the rapid growth of mobile banking and payments. Online usage and headcount have been on the rise, and users have surpassed 20 million, the company stated.

America 101

America Payments Mobile Survey 101

PYMNTS

MAY 1, 2020

A digital-loving millennial, John, searches our website to find the type of account he wants and chooses to open it online,” Vas Nunes said. “As When members first join, and as they complete various transactions with us or open a new product, we have the capabilities to survey them based on their experience,” Vas Nunes said. “We

Arizona 159

Arizona Security Cards Phoenix 159

Gonzobanker

JULY 27, 2018

Ask four different industry experts how satisfied bank customers are with their delivery options and you’ll likely get four completely different answers. A Fiserv study revealed that 44% of customers prefer to do routine transactions with tellers at a branch rather than online. Recent examples: The J.D. Another J.D. I don’t buy it.

Study 88

Study Survey Millennials Online 88

Accenture

JUNE 16, 2017

In my first blog of this series on our latest UK banking consumer survey— Beyond Digital —I explained why there’s still plenty of life in the bank branch, since even younger customers still value human interaction. In contrast, fewer than half feel they need human guidance on using their bank’s online and mobile services.

Millennials 150

Millennials Maine Study Security 150

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

APRIL 2, 2018

Consumers demand easy, digital banking, but this pressure for banks to deliver is also coming from corporate clients. Take mobile banking, which has propelled the introduction of mobile-only banks to meet demand for better services on smaller screens.

blockchain 171

blockchain Lending User Experience Mobile 171

FICO

AUGUST 19, 2022

According to a 2022 report by Cornerstone Advisors , the percentage of Gen Z, Millennial, and Gen X consumers in the U.S. who consider a digital bank (like Chime, Cash App, or PayPal) to be their primary checking account provider has more than doubled since 2020. Buy Now, Pay Later. See all Posts. chevron_left Blog Home.

Fintech 52

Fintech Millennials Lending Tools 52

Independent Banker

OCTOBER 29, 2014

But how far are they willing to go to do their banking on small mobile devices? A consensus says that the future banking customer relationships—particularly for millennial consumers—will orbit to one degree or another around mobile technology. s entry into the payments business with Apple Pay.

Mobile 105

Mobile Community Bank Community Technology 105

Banking 2020

FEBRUARY 9, 2016

alone will be using mobile banking. Consumers are hungry for new ways to make their banking easier and more efficient. Proactive banks have an opportunity to transform consumer behavior, win millennial customers and satisfy existing customers by taking advantage of the unique differentiation opportunity of mobile.

Mobile 40

Mobile Industry Millennials Survey 40

Gonzobanker

MARCH 6, 2018

Much like a bank that over-concentrates itself on commercial real estate lending, banks that rely too heavily on physical channels for consumer and business customers risk attrition, lost revenue and increased expenses. Consider these numbers from PwC’s 2017 Digital Banking Consumer Survey : ?

Strategy 89

Strategy Marketing Mobile Trends 89

PYMNTS

JANUARY 30, 2018

Bank of America’s response to the barrage of complaints was to guide the e-account customers to their Core Checking account, which they claimed offered a “great value.”. The Change.org petition imploring Bank of America to change its ways got about 40,000 signatures and a lot of media play.

America 109

America Maryland FDIC Millennials 109

PYMNTS

MAY 30, 2016

Nearly 40 percent of SMBs surveyed had (or were in the process of) deployed EMV, with another third planning to do so in the next 12 months. Online Checkout Conversion. Online Fraud Attack Rates Soar Since October. Everyone said that fraud would move online in the U.S. Digital Banking. Digital Identity.

Trends 100

Trends Retail Fraud Mobile 100

PYMNTS

MARCH 9, 2020

More than half of all consumers say that having a physical branch is important for a bank to be considered their primary bank. That finding is also relatively consistent across income and demographic profiles, even for bridge millennials (the largely affluent 30- to 40-year-old crowd) and Gen Z respondents.

How To 232

How To Millennials ATM Fintech 232

Tech and Finance

JULY 13, 2016

Powers report shows the big banks have made significant improvements in all digital categories. How customers feel about a bank’s digital offerings could affect their views of other banking services, from fees to face-to-face encounters, J.D. On-demand Webinar: Up Close and Personal: The Future of Digital Banking

Regional 28

Regional Mobile Millennials Study 28

PYMNTS

SEPTEMBER 6, 2016

Of course, it’s not just the FinTech industry and tech-savvy millennials who are fueling digital change. For example, Jenkins described an organization that wanted to launch a new service online that would involve its customers applying for a loan using using its portal, but the portal was deemed insecure.

Security 100

Security CA Payments Big Data 100

PYMNTS

JANUARY 2, 2017

The spring brought coverage of mobile advertising and payments on the go at food trucks as small, smart device-powered businesses, and in the fall, we looked at the biggest trends in digital security at the annual Money20/20 Conference in Las Vegas. DIGITAL BANKING TRACKER.

Retail 123

Retail Millennials blockchain Mobile 123

PYMNTS

JULY 9, 2018

YouTube, Amazon and Twitter already offer unbundled access to NFL games , and analysts say that by 2022 , four short years from now, pretty much all TV networks will offer consumers the option of à la carte programming through a streaming option — something that nearly two-thirds of consumers surveyed in 2017 said they wanted.

Strategy 105

Strategy Millennials Online Branding 105

FICO

JANUARY 19, 2018

Through their own innovations and an overall advancement in technology, online retailers attracted customers away from legacy retailers with a wide variety of choices, low prices, and high convenience. But unlike their shopping center counterparts, established banks were able to accommodate consumer demand more ably.

Analytics 45

Analytics Millennials Retail Data 45

Gonzobanker

JULY 22, 2019

Even if older customers never use the ITM, the rationale is that service times inside become faster since others are using the ITMs outside, allowing the bank to allocate more resources for branch-centric customers. Validation of other digital channels. This can improve overall customer service and retention. THE CHALLENGES.

Video 87

Video ATM Analysis Technology 87