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The future of money (research report)

Chris Skinner

Here are my headlines: 76% of millennials are looking for new forms of banking 40% of people in their twenties have downloaded a money management app 80% of millennials … The post The future of money (research report) appeared first on Chris Skinner's blog.

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DATA: How FI’s Innovation Gap Is Big Tech’s Big Opportunity

PYMNTS

It’s really difficult, the banking ecosystem is not fast and that’s just reality,” Jim McCarthy, industry expert and former innovation head for Visa, told Karen Webster in a recent conversation. The Headwinds Creating The Innovations Gap . According to the latest edition of the Innovation Readiness report, only 22.3

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Managing Spend In A Sector Where Unplanned Expenses Are The Norm Issues

PYMNTS

Millennials have been at home in the global workforce for about a decade now, but Generation Z is starting to filter into offices, warehouses and work floors and bringing their fast payments expectations with them. To learn more about these and other recent headlines, download the Playbook and read its News and Trends section.

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Why Digital Payments Innovation Sticks To Gen Z

PYMNTS

Broadly speaking, it seems the follow-up act to the millennial generation – that is, Gen Z – is much more positively inclined toward using credit products of all stripes. Far more millennials and Gen Xers make use of credit cards than Gen Zers – at 38.29 million and 38.27 million, both cohorts have roughly quintuple the carrying rate.

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Why Community Banks Can’t Afford To ‘Wait and See’ About Faster Payment Innovations

PYMNTS

However, if recent developments in the financial services industry are any indication, innovation waits for no institution, company, agency or, for that matter, Fed report. Many players in the financial services market were already launching innovative solutions without knowing which guidelines the Fed would recommend for the U.S.

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Survey: Quarter Of Americans Open To Banking With Big Tech

PYMNTS

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. The rate rises to 60 percent among bridge millennials, those between the ages of 30 and 40. .

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New Data: Banks Could Lose A Quarter Of Their Customers To Tech Giants

PYMNTS

Yet, what if these companies extended their presence into banking by offering accounts that improved the way consumers use and manage their credit cards and debit accounts? For the Building A Better App: Banks And The Innovation Imperative Report , a collaboration with Ondot , PYMNTS surveyed more than 3,000 U.S. In fact, 24.3

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