Survey: Banks just aren’t ready for digital
Chris Skinner
JANUARY 22, 2020
I’ve just been reading Jim Marous’s Digital Banking Report which ties in nicely with my new book Doing Digital, as the themes are similar.
Digital banking often leads to branch visits, survey says
Bank Innovation
FEBRUARY 5, 2020
As consumers increasingly expect to complete bank interactions online, a survey commissioned by Lightico indicates that creating end-to-end digital journeys continues to be a struggle for many banks.
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Digital Banking Gaining Scores Of New Users
PYMNTS
SEPTEMBER 4, 2020
Migration to mobile and digital banking ramped up during the pandemic. It’s one of numerous revelations in PYMNTS’ Leveraging The Digital Banking Shift Report , a collaboration with Feedzai , based on a survey of nearly 2,200 U.S. percent of online banking customers using digital channels more.
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Deep Dive: Strategizing Transparent, Holistic Digital Banking Transformations
PYMNTS
APRIL 27, 2020
One study recently determined that the number of digital banking users is expected to exceed 3.6 billion by 2024, and a separate study suggested that many customers were willing to use FinTechs as well as their primary banks to receive the level of technological support they desired.
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Top 5 Surprises from FICO’s Fraud and Digital Banking Survey
FICO
DECEMBER 5, 2022
Top 5 Surprises from FICO’s Fraud and Digital Banking Survey. Our survey found that good fraud protection is paramount for customers - even though they themselves may exaggerate income or claims. Here are the top 5 surprises from that survey, along with tips for FIs on how to address or capitalize on them.
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Prospects for More De Novo Digital Banks Come Into Clearer Focus
Bank Innovation
APRIL 11, 2019
Get ready for more banks. Digital ones, that is. New data shows that consumers -- and financial institutions -- are more inclined toward greenfield digital banks. In a recent survey by Fiserv, 86% of respondents said they would consider leaving their bank, if they could not easily manage their accounts online.
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FICO Consumer Digital Banking Survey 2021 – Top Five Takeaways
FICO
MAY 28, 2021
At the beginning of the year, we commissioned a survey of 1,000 adults in each of fourteen countries to canvas them about their attitudes to opening a range of different financial accounts digitally using websites and apps. We may be at an inflexion point for the use of apps to open accounts digitally.
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Credit Sesame Launches Free Digital Bank Account
PYMNTS
MARCH 10, 2020
Credit and loan company Credit Sesame has announced a new, free digital bank account called Sesame Cash as part of a new digital banking service, with the goal of helping customers grow cash and credit in one place, according to a release. .
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Digital Bank Startup Branch Offers Mobile Payments
PYMNTS
JUNE 16, 2020
Branch , the digital bank startup, is branching out. Consumers deserve fast and flexible mobile banking services that adapt to their needs,” said Branch CEO Atif Siddiqi in a statement. The study was conducted between April 10 and 12 of 17,000 consumers in 19 countries as stay-at-home orders and social distancing became common.
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By The Numbers: Just 12% of consumers would convert to digital banking
BankInovation
MAY 18, 2023
While banks continue to invest in their digital capabilities, most consumers are not ready to fully commit to a digital bank with no physical presence. A survey by research company UserTesting found that just 12% of consumers say they would use a fully digital bank.
BMO survey shows US users leaning towards digital banking
The Paypers
APRIL 30, 2023
North American banking group BMO has released a survey that reveals fluctuating online banking trends in the US.
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Building a Discipline to Drive Digital Banking Strategy
Gonzobanker
OCTOBER 13, 2020
Cornerstone’s Growth Engine Framework illustrated below summarizes common measurements used to monitor the digital customer through the capture, acquire and nurture stages of relationship development. Typically, some of the lowest Net Promoter scores (NPS) in banking come from frustrated digital banking and payments users.
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Small Businesses Draw The Line On Lack Of Digital Banking
PYMNTS
OCTOBER 11, 2018
Now, a new report is shining a spotlight on European banks’ lackluster performance in another area: small business (SMB) services. Banking technology provider Avoka recently released its own survey on SMB bank customers to assess their satisfaction with their current financial service providers.
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BBVA On Google, Digital Banking And The Rise Of The ‘Everyday App’
PYMNTS
AUGUST 4, 2020
The writing has been on the wall: PYMNTS research has found that though most people are satisfied with their in-place relationships with banks, only about 40 percent of people would be “extremely” or “very” likely to bring their banking relationships to Big Tech or FinTechs. ” Looking Ahead.
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Deep Dive: How FIs, Customers Are Navigating The Coronavirus-Inspired Spike In Digital Banking Demand
PYMNTS
APRIL 30, 2020
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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Survey: Quarter Of Americans Open To Banking With Big Tech
PYMNTS
JULY 1, 2020
But one thing is clear: Americans would be willing to dispense with their local bank and make Amazon , Apple or Google their primary payment account provider if those 21 st -century accounts allowed them to more easily manage and spend their money. A PYMNTS survey of 3,000 U.S.
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Community Bank Acquires SMB Digital Bank Seed
PYMNTS
JUNE 25, 2019
Community financial institution (FI) Cross River Bank is acquiring Seed , a small business (SMB) digital banking company, reports in Reuters said on Monday (June 24). Cross River Bank has partnered with a range of FinTech startups since its 2008 launch, including collaborations with Stripe , Coinbase and Affirm , reports said.
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Consumers Would Be Comfortable Using Google or Apple For Taking Out Loans, Survey Finds
Bank Innovation
OCTOBER 18, 2018
Banks need not fear large technology companies like Google or Apple taking their business. Digital banking continues to be the most convenient option for simple daily transactions, but branches are still necessary for the more complex ones And yet banks should not ignore the shift in banking habits brought on by non-bank technology companies.
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What Will Finally Kill Cash? Apple Pay, Says Survey
Bank Innovation
NOVEMBER 9, 2016
As much as we all love digital banking (and we do) there are clear kinks that need to be worked out. The recent Android banking Trojan that’s gaining ground, Tesco Bank having to halt online transactions, the massive Yahoo hack, and even the troubles at Wells Fargo could all be Read More.
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Digital Banking Consumers Still Don’t Fully Trust Online Bill Pay
Bank Innovation
JULY 30, 2018
It revealed that while 59% of consumers surveyed paid bills online, more than half of them said they did not trust the […]. Convenience, not trust, is why people choose to pay their bills online, according to Fiserv’s quarterly report on consumer payment trends.
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Bank consumer survey: Canter closer in step with markets of one
Accenture
APRIL 30, 2019
Nevertheless, our research allowed us to separate retail banking customers into four distinct “personas” that can give providers a great deal of insight into how to structure their offerings and stay relevant. Pioneers , for instance, look like the ideal customers for a modern digital bank.
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How Can We Make the Short-Term Increase in Digital Banking Activity Permanent?
Gonzobanker
APRIL 13, 2020
adults, “During social distancing, how much more or less likely are you to leverage digital banking and digital payments?” ” Not surprisingly, most people said they would perform more digital activity. Customer usage of expanded digital banking options must become permanent.
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How SMBs’ Digital Banking Demands Change The KYC Challenge For Banks
PYMNTS
NOVEMBER 14, 2019
What’s more, the digital shift is adding new pressures on financial institutions (FIs) themselves, particularly when it comes to the onboarding and KYC process, as PYMNTS’ latest AML/KYC Tracker discusses. Power found that small businesses continue to embrace mobile banking, with its 2019 U.S. Recent research from J.D.
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Survey: When Do Fraud Controls Ruin the Customer Experience?
FICO
MARCH 9, 2022
Our survey showed a positive outlook for banks and card issuers investing and innovating significantly in the digital space. 81% of people in the UK plan to continue to do all or most of their banking online – that’s nearly 41 million active bank accounts in the UK. Read our blog on our new Retail Banking 3.0
Consumer Survey Puts Three Digital Banking Theories to the Test
The Financial Brand
DECEMBER 15, 2020
The post Consumer Survey Puts Three Digital Banking Theories to the Test appeared first on The Financial Brand. Data confirms one idea about mobile/web product expectations but refutes two others relating to personalization and willingness to pay.
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By the Numbers: Commercial customers’ interest in digital banking grows
BankInovation
MAY 19, 2022
Commercial banks are still playing catch-up when it comes to digital account opening, even as more business banking customers move online.
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Survey finds out Americans generally trust digital banking
The Paypers
MARCH 11, 2021
According to a survey released by ESET , 65% of people from US say they use at least one fintech app or platform and 85% use either banking apps or online banking platforms.
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FICO Survey: US Consumers’ Payment Methods Linked to Fraud
FICO
FEBRUARY 16, 2022
Banks must be prepared to help stop scams, including making customers more aware of the danger, all while continuing to ensure an exemplary customer experience. FICO published our 2021 Digital Consumer Banking and Fraud Survey today that emphasizes consumer perspectives on customer experience and fraud prevention management. .
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Results from new consumer digital banking survey explain that it’s time for retail bankers to get off the ropes
Accenture
JUNE 30, 2016
The late Muhammad Ali was a cultural and sporting icon for over 50 years. One key to his longevity was his ability to change and evolve in a sport and a culture often dominated by one trick journeymen. Read more.
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Personalized Marketing: What Banking Customers Really Want
Perficient
APRIL 20, 2023
The Landscape According to Forbes Advisor: 2022 Digital Banking Survey , as of 2022, 78% of adults in the U.S. prefer to bank via a mobile app or website. And those consumers desire digital experiences that are personalized and meaningful.
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The world’s best banks, according to Forbes
Chris Skinner
JUNE 23, 2020
Forbes just launched a list of the world’s best banks, based upon a survey of over 40,000 consumers in partnership with Statista. I’m always wary of such surveys as, like influencer lists, they often reflect the world they want and miss a lot of what’s really happening.
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The Finanser’s Week: 20th January 2020 – 26th January 2020
Chris Skinner
JANUARY 26, 2020
The main blog headlines are … Survey: Banks just aren’t ready for digital I’ve just been reading Jim Marous’s Digital Banking Report which ties in nicely with my new book Doing Digital, as the themes are similar.
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Consumers Won’t Use a Banking App, Unless It Features Biometric Authentication
Bank Innovation
MAY 4, 2017
Consumers are becoming more comfortable with biometrics in banking—most are now actively asking for the capability to be included in their mobile and online banking experience. Almost 80% of customers want more biometric authentication methods in their digital banking (online and mobile) experience, according to a survey of 1,000 U.S.
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FICO Digital Banking Study: Security and Authentication in a Digital World
FICO
MAY 8, 2020
To find out what people think about the security they use with their financial services and how they view the use of new digital security methods such as biometrics, FICO commissioned an independent survey of over 5,000 people across 10 countries. On average a little over half of people surveyed were prepared to use this method to.
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FICO Survey: US Consumers’ Payment Verification Methods Linked to Fraud
FICO
FEBRUARY 16, 2022
Banks must be prepared to help stop scams, including making customers more aware of the danger, all while continuing to ensure an exemplary customer experience. FICO published our 2021 Digital Consumer Banking and Fraud Survey today that emphasizes consumer perspectives on customer experience and fraud prevention management. .
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Corporate Banking Customers List Cybersecurity as the Reason They Are Sticking with Checks
Bank Innovation
JULY 20, 2018
business leaders (owners, managers, and executives) prefer using digital banking, and yet less than half of them have plans of increasing their use of online banking products and services, that’s according to a JPMorgan Chase survey. A majority of U.S.
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Secure Digital Banking and Customer Communications
FICO
APRIL 7, 2022
Following the highly successful The 11 Commandments of Digital Banking eBook , we are publishing 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.
Where Challenger Banks & Incumbents See The Next Digital Banking Opportunity
CB Insights
JANUARY 5, 2021
In the past few years, the burgeoning popularity of digital banks has only underscored the severity of these problems, with upstarts like Chime and SoFi offering cheaper, faster, and more convenient banking experiences. . get the state of challenger banks report. The future for digital banking. Source: PwC.
Today In Payments: Visa Q1 Earnings Show 60 Pct Growth For Visa Direct; Plaid’s Deposit Switch Streamlines Digital Bank Account Funding
PYMNTS
JANUARY 29, 2021
Plaid’s Deposit Switch Streamlines Digital Bank Account Funding. A third of consumers say they're not satisfied with using their mobile banking apps to perform basic tasks like adding or removing users from their accounts or opening new ones. Digital-First Down Under: Visa Report Shows Changes Coming For In-Store Shopping.
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Cybercrime is digital banking's greatest threat, bankers say
American Banker
JUNE 27, 2023
About 90% of surveyed bankers said cybersecurity was their biggest worry, ahead of legacy tech and talent shortage issues.
Digital Banking: Humanizing the Customer Experience
FICO
FEBRUARY 2, 2022
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! Banks must find ways to be personable in these impersonal channels. Respect the data.
Turning To AI To Reduce Digital Banking Risks
PYMNTS
AUGUST 16, 2018
Banks of all sizes are now looking to reduce the risks they face when doing business, increasingly turning to new and emerging technologies like artificial intelligence (AI) and machine learning (ML) to reduce risk and combat fraudsters. contact-form-7]. . About The Tracker.
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SME App Seed Gets Rid of Monthly Fee
Bank Innovation
OCTOBER 18, 2017
EXLUSIVE – SME-focused digital bank Seed is nixing its monthly fee and will now be free for customers. The San Francisco-based fintech used to charge its customers $9 per month, but after conducting a survey, CEO Brian Merritt told Bank Innovation that he realized Seed could serve customers better by being free.
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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.
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