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

PYMNTS

MAY 4, 2017

Against this backdrop, agreed the executives, banks are investing heavily in digital while rapidly reducing their physical branch footprint — but at the same time boosting ATMs as a sort of hybrid, satisfying the need of some consumers to have a physical point for withdrawal of funds. do not accept cash.

ATM 192

ATM Millennials United States Study 192

PYMNTS

DECEMBER 11, 2018

And that’s unlikely to change in 2019 or beyond, given the growing purchasing power of bridge millennials. In fact, it is getting some new life from eCommerce operators. So-called online-only retailers — including Amazon — operate some 630 physical retail locations in the U.S., Digital Banking.

blockchain 170

blockchain Retail Trends Mobile 170

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

DECEMBER 3, 2019

In today’s top payments news, Wells Fargo has selected former Santander head executive Scott Powell to be its new chief operating officer. 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.

Fintech 132

Fintech Colorado Payments Operations 132

PYMNTS

JANUARY 29, 2020

Their traditional banking rivals are now supplemented by young, agile FinTechs that advertise the most advanced technology and much greater efficiency than their legacy counterparts, meaning that CUs must lean into their strengths to get ahead. The other is the latest technology. Louis, specifically, is very overbanked.”.

St. Louis 130

St. Louis Missouri Survey Kansas 130

Accenture

SEPTEMBER 22, 2019

An obvious reason is the inroads they’re making into the market, both domestically and globally: recent Accenture research finds that digital-only banks operating in the UK could amass a total of 35 million customers globally within the next 12 months, up from 13 million today. Why the intense interest in the neo-challengers?

Innovation 150

Innovation Metro Apple Marketing 150

PYMNTS

AUGUST 7, 2019

This time around, according to the site, the banks will commence the second phase by October of this year, and there already exists collaboration between banks and FinTechs for the exchange of data and various financial services functions. As reported earlier this year, Hong Kong regulators awarded three digital banking licenses.

Digital Banking 129

Digital Banking Fintech Millennials Data 129

PYMNTS

JUNE 7, 2017

The latest Expectations & Experiences consumer trends survey from Fiserv , a leading global provider of financial services technology solutions, finds that consumers are paying more bills from mobile devices while slowly starting to venture into digital wallets.

Survey 115

Survey Mobile Millennials Cards 115

PYMNTS

OCTOBER 17, 2019

Lemon Way’s technology, strong partnerships and differentiated expertise give the company a head start.”. Lemon Way operates in 12 European countries and has a solid footing in France, Italy and Spain. In July , Toscafund helped fund Atom , a banking startup in the U.K. that caters to millennials.

Fintech 100

Fintech Capital Millennials US 100

American Banker

DECEMBER 9, 2019

Businesses need to shift focus away from millennials and toward the next age group, which is expected to be so demanding that business processes will have to be overhauled, says Julia Carreon, the bank's managing director of digital and fiduciary operations.

Millennials 74

Millennials Groups Operations Management 74

PYMNTS

AUGUST 13, 2020

consumers don’t exactly love the paper check — roughly 38 percent report that they’ve stopped using them entirely, and that shoots up to almost 50 percent when talking about millennials. It’s one thing to have a limited electronic option available — that’s quite different than having a strong digital strategy.”.

Cards 202

Cards Strategy Digital Strategies Examples 202

PYMNTS

MAY 29, 2020

Credit unions (CUs) are upgrading their automated teller machines (ATMs) to offer a broad array of banking services from loan applications to account transfers and beyond in the hopes that having more versatile ATMs will be able to meet the needs of their members as brick-and-mortar branches stay shuttered.

Maine 130

Maine ATM Innovation Millennials 130

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

CUs are no longer confined to operating primarily as regional players, moving beyond the confines of original charters that had limited them to, say, specific communities or employers. The Millennial Challenge. Digitization, he said, helps level the playing field for CUs competing with bigger players.

United States 102

United States Millennials Course Lending 102

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. According to Glover, that means banks in the U.S.

blockchain 171

blockchain Lending User Experience Mobile 171

FICO

SEPTEMBER 19, 2022

Statista research states that Millennials were the largest generation group in the U.S. Born between 1981 and 1996, Millennials recently surpassed Baby Boomers as the biggest group, and they will continue to be a major part of the population for many years. in 2019, with an estimated population of 72.1

Millennials 52

Millennials Compliance Regulation Operations 52

William Mills

MAY 19, 2016

His presentation focused on: the impact of millennials on banking, the invisible customer and the importance of keeping up with ever-changing technology. These themes reinforce the reality that community banks encounter continuous change. Hello, I’m a Millennial. and are the largest segment of the workforce.

Georgia 41

Georgia Community Bank Community Meeting 41

William Mills

MAY 19, 2016

His presentation focused on: the impact of millennials on banking, the invisible customer and the importance of keeping up with ever-changing technology. These themes reinforce the reality that community banks encounter continuous change. Hello, I’m a Millennial. and are the largest segment of the workforce.

Georgia 41

Georgia Community Bank Community Meeting 41

PYMNTS

JULY 31, 2017

The Tracker is a bimonthly report showcasing the most significant developments reshaping the credit union market, with attention paid to the biggest partnerships and acquisitions in the industry, notable tech innovations and the shifting regulations that could drastically change how these institutions operate.

Report 114

Report Innovation Regulation National 114

Gonzobanker

DECEMBER 20, 2019

There is an understanding that technology and fintech are going to cause radical change, but the how, how big and when are still very unclear. A finance pro who was not afraid of technology, Trylko brought respect and class to every endeavor he undertook. And this year’s Smarter Bank is … drum roll … USAA.

Idaho 148

Idaho Conference Data Marketing 148

PYMNTS

OCTOBER 4, 2019

. “With bigger banks, some of them have more software engineers than Google,” he said. They view themselves as technology companies … On the other side of the spectrum, you’ve got community banks and credit unions.” ” Of the thousands of these players operating in the U.S.

Lending 152

Lending Community Bank US Community 152

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. Business credit cards.

America 101

America Lending Cards San Francisco 101

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 : ? Aligned and Future-Ready.

Strategy 89

Strategy Marketing Mobile Trends 89

PYMNTS

SEPTEMBER 6, 2016

That’s the backdrop for the nearly hour-long conversation that Karen Webster had about the role of payments security in digital business transformation with CA Technologies Director of Payments Security James Jenkins. Payments Security As A Digital Business Enabler. This leaves banks and payments schemes vulnerable.

Security 100

Security CA Payments Big Data 100

Independent Banker

OCTOBER 29, 2014

Large banks and nonbanks, merchants and technology companies are pressing to solidify their inroads into the financial transaction business. Research and everyday observation show how consumers are increasingly using mobile technologies. But how far are they willing to go to do their banking on small mobile devices?

Mobile 105

Mobile Community Bank Community Technology 105

Gonzobanker

JULY 22, 2019

These days, banking is about accessibility and seamless transactions, and ITMs provide the perfect blend of technology and service. ITMs yield transactional savings that can offset the increased purchase and operational costs. By their very nature, ITMs can help banks and credit unions attract younger customers.

Video 87

Video ATM Analysis Technology 87

PYMNTS

MAY 30, 2016

Read on for what they happen to say about the state of their businesses and the local economies in which they operate. We talk to nearly 700 SMBs every quarter to get their views on payments and technology adoption. Digital Banking. The 411 On The Digital Banking Evolution. Are SMBs Ready For EMV?

Trends 100

Trends Retail Fraud Mobile 100

PYMNTS

APRIL 4, 2019

And by all accounts, this digital migration is driven by consumer preference — according to the same study, 91 percent of mobile banking users prefer accessing their app over going to a physical branch, and 68 percent of mobile banking millennials believe their smartphones will eventually replace their physical wallet.

Mobile 169

Mobile Study Security social media 169

PYMNTS

MARCH 2, 2020

Perhaps most important, they are the most active pursuers of expanding the payment technology they offered. percent of core and IT-enabled FIs have invested in payment technology over the past three years, compared to 22.2 percent of IT-enabled banks. According to PYMNTS data, 62.8 According to our figures, about 24.3

Innovation 222

Innovation Data System Mobile 222

CB Insights

OCTOBER 10, 2018

What these startups share is the goal of creating customer-centric banking products that target underserved individuals and businesses. DOWNLOAD THE 61-PAGE consumer banking REPORT. See which startups are helping JPMorgan, Bank of America, and Citi build the digital banking platforms of the future.

Retail 78

Retail Cards Millennials Mobile 78

NCR

FEBRUARY 17, 2017

That includes growth areas like mobile banking, of course, but also covers traditional cornerstones of retail banking like the ATM. In the rush to serve the tech-savvy millennial market and keep up with the latest developments in mobile and digital banking, some FIs might fall into the trap of overlooking traditional channels.

ATM 85

ATM Mobile Strategy Fraud 85

PYMNTS

MAY 21, 2016

That, as it turns out, was the good old days of voice technology assistance. Today the incorporation of voice technology into daily activities runs the gamut, from taking music requests on-demand to ordering from Amazon to typing your texts for you. to roll out a voice technology offering. The response thus far? Phenomenal.

Technology 115

Technology Trends Maine Digital Banking 115

PYMNTS

AUGUST 13, 2018

Exhibit A: EQ Bank , at the beginning of 2016, took its place as Canada’s first digital-born bank, and has now reached $2 billion in deposits. The concept is a bit different than might be seen with other digital banking models. Such a meteoric pace indicates a key question for banks considering the digital route.

Digital Banking 113

Digital Banking social media Course Marketing 113

Banking 2020

JANUARY 15, 2015

The retail banking industry has seen major changes occurring in the industry over the last few years with the adoption of mobile banking, the rise to prominence of the millennial demographic, narrowing margins, stagnant top line revenues, the future of the branch and continued regulatory changes. Digital Banking.

Retail 40

Retail Trends Millennials Mobile 40

Fintech Labs Insights

FEBRUARY 14, 2017

February has been a big month for the innovators of Swiss digital banking leader, CREALOGIX. The company won its first Best of Show award at FinovateEurope last week, taking home top honors for its live demonstration of a virtual reality interface integrated into its digital banking hub. CREALOGIX also has a new CEO.

Digital Banking 20

Digital Banking User Experience Millennials System 20

PYMNTS

DECEMBER 24, 2018

Text messaging, social media, Pinterest and memes have all been offered up as avatars of destruction — and the general consensus seems to be that the death of conversation is a direct result of the digital age and probably has something to do with millennials. The art of conversation is far from dead. Tide CEO Dr. Oliver Prill.

Data 151

Data Payments System social media 151