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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?

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Does ‘Google Checking’ Foreshadow Big Tech, FinTech Payments Changes?

PYMNTS

While much is yet to be announced about Google Cache, VB expects them to provide an experience layer, while letting the financial institution provide the account and deal with regulatory compliance. Google’s expertise is in UX design,” he noted. “By Banking services could be decoupled from banks.”. Race to the Top.

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FIs: Build For A Digital Future Or Lose Customers

PYMNTS

It’s also about finding ways to deliver good functionality to customers before big FinTechs — which have high-level concepts of what challenger banks might look like — sweep in and swipe users away, he said. Webster noted that challenger banks of the past haven’t offered much in the way of a genuine challenge to traditional banks.

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