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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.

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FIs Most Underutilized Asset: Their Apps

PYMNTS

Mobile banking apps are designed to make digital banking more convenient for customers, yet 21.7 So what can financial institutions (FIs) do to improve their apps’ user experience (UX), and will making these changes help boost adoption and usage? percent of consumers who use these apps are dissatisfied with them.

UX 150
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Digital Banking Commandment: Respect Your Customers’ Data!

FICO

Following the highly successful The 11 Commandments of Digital Banking eBook , we are kicking off a series of 5 deeper dive blog posts that group the 11 Commandments below into common themes. Digital lift-and-shift is not a strategy! How FICO Can Help You Advance Your Digital Banking. Respect the data.

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Why Legacy Banks Have Mobile App Advantages

PYMNTS

A consumer’s sense of security and trust can be a funny, even unpredictable thing, especially when it comes to payments, banking and commerce. Good UX vs. Security. That said, Oosthuizen noted, those younger developments often tend to focus on “good UX and the consumer experience — in terms of what works.

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Chime, Challenger Banks And The Challenges Of (Lofty) Valuations

PYMNTS

And CNBC notes that, conversely, the KBW Bank Index is down by roughly a third. As reported by PYMNTS in late June, Chime debuted its Chime Credit Builder Visa Credit Card, which lets users transfer funds to a secured account (which effectively limits what can be spent).

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Shoring Up FIs ‘Deteriorating Advantage’ Over Big Tech

PYMNTS

Time may be of the essence in bringing those entrenched services to the digital realm. Trust in Digital Banking. “It’s It’s critical to see trust in digital banking,” he said. The digital players have great UX, which engenders trust in the interaction. Each side needs the others’ assets.

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Chime, Challenger Banks And The Challenges Of (Lofty) Valuations

PYMNTS

And CNBC notes that, conversely, the KBW Bank Index is down by roughly a third. As reported by PYMNTS in late June, Chime debuted its Chime Credit Builder Visa Credit Card, which lets users transfer funds to a secured account (which effectively limits what can be spent).