CB Insights

JULY 25, 2019

Fintech is often associated with digital tools targeted at tech-savvy millennials. But there is a growing market of fintech companies serving the unique financial needs of Baby Boomers and older retirees — and for good reason. Fintech services for seniors are targeting a range of sub-categories. Source: Deloitte.

Millennials 73

Millennials Fintech Tools Fraud 73

NCR

JUNE 29, 2016

Coming of age during the last recession and being subjected to the barrage of headlines about financial executives misbehaving, many Millennials are distrustful of established financial brands and institutions. are in the bottom 10 of the least loved brands by Millennials. are in the bottom 10 of the least loved brands by Millennials.

Millennials 45

Millennials social media User Experience Branding 45

Gonzobanker

APRIL 4, 2024

While valuation at many fintechs has dropped since 2022, Chime has bucked the trend. Bloomberg recently reported that Chime, the leading fintech neobank, is planning to go public in 2025. Cornerstone’s numbers don’t jive, however, with what some of the other fintechs have reported publicly. of Millennials, 7.5%

Comparison 104

Comparison Fintech America Survey 104

Alex Jimenez

AUGUST 28, 2018

What is Fintech? Fintech is a dynamic segment at the intersection of the financial services and technology sectors where technology-focused start-ups and new market entrants innovate the products and services currently provided by the traditional financial services industry." -PwC PwC Fintech Report. Fintech Growth.

Fintech 40

Fintech Case Study Study Millennials 40

PYMNTS

JULY 1, 2020

The details are offered in Building a Better App: Banks and the Innovation Imperative Report , a collaboration between PYMNTS and Ondot Systems, the Silicon Valley-based FinTech. The rate rises to 60 percent among bridge millennials, those between the ages of 30 and 40. . The results?

Survey 183

Survey Cards Millennials ATM 183

PYMNTS

MARCH 3, 2020

Even millennials , who heavily lean on remote banking, still visit physical bank locations for more complex functions, such as loan applications. A recent study found that 75 percent of this generation’s members visit financial institutions (FIs) at least once per month. million compared to unsecured companies’ $5.16 million.

ATM 151

ATM Fraud Study Regional 151

NCR

JUNE 21, 2016

According to a recent study , all four of the leading banks are among the ten least-loved brands by Gen Y, and one in three millennials revealed they’re open to switching financial institutions in the next 90 days. Millennials don’t like traditional banks and don’t see any stark differences between them. The App Generation.

Millennials 45

Millennials Data Study Digital Banking 45

PYMNTS

DECEMBER 9, 2019

Statistical swarms of millennials and Gen Zers report never having used a paper check. That’s the picture emerging as B2B payments hustle to catch up to consumers who ran off giddily with P2P and the FinTechs. Their perception of banking, aside from ATMs, is entirely app-based – and mobile. Embarrass­­­ing, sure. The Big Gig.

Millennials 130

Millennials New York City National New York 130

PYMNTS

OCTOBER 30, 2019

Also, a study by Adobe Analytics found that the upcoming holiday shopping season is expected to break records in online spending. A study by Adobe Analytics found that the upcoming holiday shopping season is expected to break records in online spending. The study tracked transactions for 80 of the top 100 U.S.

Analytics 101

Analytics Study Payments Fintech 101

Abrigo

JANUARY 13, 2020

Cross-selling to stem “hidden defections” represents huge untapped opportunities for institutions, according to a study by Bain. For example, the study found that in the U.S., A separate study by Bain & Co. Key Takeaways Cross-selling may be the most efficient way for your financial institution to achieve strong growth.

Lending 150

Lending Study Survey Community 150

Insights on Business

FEBRUARY 13, 2019

Revamping the company’s internal structure is one of the first steps Bradesco took to achieve the goal of creating experiences that meet expectations of millennials. If it doesn’t, negative news travels fast through millennial networks. Protection (Security). If you take the wi-fi away they almost die,” said Albuquerque.

Albuquerque 152

Albuquerque Digital Banking Millennials social media 152

PYMNTS

JUNE 7, 2019

As Mastercard has found in a recent study, only 25 percent of online merchants were aware of SCA requirements, and of that tally 24 percent said they have no plans to support the requirements by the deadline. In terms of readiness, that study found that only 40 percent of businesses aware of SCA felt prepared to meet its requirements.

Fintech 101

Fintech Study Online Retail 101

PYMNTS

DECEMBER 27, 2018

Open banking, bank APIs and data sharing flourished in 2018, with small business and corporate financial services squarely in the path of this financial services trend as banks and FinTechs consider new ways to enhance business payments, accounting, treasury and financial management. Firstly, regulators driving Open Banking or Open Data (e.g.

Customer Experience 191

Customer Experience Survey Trends Data 191

PYMNTS

FEBRUARY 25, 2020

Banks and legacy financial institutions (FIs) might be wise to study what disruptive technologies recently did to the print publishing industry, taxi cabs, network TV, and a host of other businesses that were disintermediated with little to no warning in recent years. And in surveys at least, they don’t exhibit much loyalty to FIs.

Mobile 153

Mobile Cards social media Survey 153

Let's Talk Payments

JUNE 19, 2016

Millennials, Gen Z are slightly more “robo-friendly”. However, only 9% of consumers said they would be likely to use a purely digital automated investment advisors (robo-advisors) services. Press Release} New York,

Study 40

Study New York Millennials Analytics 40

ABA Community Banking

SEPTEMBER 7, 2017

Millennials borrow differently from past generations, says study Retail Banking Technology Risk Management Customers Credit Risk Fintech.

Risk Management 40

Risk Management Millennials Study Fintech 40

PYMNTS

JANUARY 14, 2017

Evidence of that is in a new Creditcards.com study that suggests that consumers are slowly gaining confidence about becoming debt free during their lifetimes. About 60 percent of younger millennials think they can wipe out their debt by age 30. And using credit wisely, it seems, is on the uptick. On The Bright Side.

Millennials 100

Millennials Data Cards Study 100

PYMNTS

DECEMBER 3, 2020

The study also showed that 71 percent of the time, BNPL installment plans were used to pay for clothing, followed by sporting goods, home furnishings, toys, electronics and health/personal care items, where BNPL was used about one-third of the time. New consumer data from PYMNTS shows 3.7

Survey 167

Survey Study Retail Millennials 167

Gonzobanker

NOVEMBER 16, 2023

Traditional financial institutions that want to compete with fintech disruptors like Chime and X (formerly known as Twitter) need to up their social media game. One study found that roughly 48% of people have used social media to determine where to go out to eat. Gen Z users prefer social media as their primary search engine.

social media 97

social media Marketing Millennials Trends 97

Gonzobanker

APRIL 3, 2019

It’s not a “Millennial thing.” According to a recent study by Ellie Mae, 92% of all home borrowers research online before applying. Consider fintech partnerships that offer digital delivery. Most of the time, self-service on-demand is more convenient because it’s on the customer’s terms. So what can GonzoBankers do to keep up?

social media 108

social media Exercises Millennials Training 108

PYMNTS

JUNE 9, 2020

As the survey of more than 4,000 CU members, CU leaders and FinTech executives showed, 41.4 That ability has allowed challenger banks and FinTechs to grow their market share in personal lending by 760 percent over the past five years, while CUs have seen their total market share slip 30 percent in the space over the same period.

Digital Banking 133

Digital Banking Millennials Lending Marketing 133

CB Insights

AUGUST 2, 2018

One of the biggest trends in fintech today is the rise of digital banking products like mobile checking accounts and new debit cards. From Square to Paypal, a host of fintechs are creating products that let consumers spend money directly out of digital accounts using a physical card. get the 86-page fintech report.

Cards 71

Cards Fintech UX Strategy 71

PYMNTS

MARCH 6, 2019

They grow faster, reach profitability sooner and generate more revenue per dollar invested than those of their male counterparts, according to a study of female-founded firms. The study reported that for every dollar of capital raised, women-run startups generated 78 cents in revenue, compared to 31 cents for men-run startups.

Regional 179

Regional Capital Study Leadership 179

Celent Banking

SEPTEMBER 9, 2015

I´ve recently had multiple conversations with financial institutions about the trend of unbundling financial services by fintech startups. There are plenty of reasons to be sceptical about the hype surrounding disruption by fintech players (shallow revenue, small customer base, etc.), They all tell a fairly similar story.

Millennials 100

Millennials Fintech Bitcoin Industry 100

Gonzobanker

OCTOBER 5, 2022

A consumer study from S&P Global—which asked mobile banking users which mobile banking features might get them to switch banks—reveals the contradictory responses consumers often provide. More than a third of all Americans have more than one checking account, and among Millennials that percentage is nearing a half.

Survey 78

Survey Mobile ATM Cards 78

Gonzobanker

OCTOBER 5, 2022

A consumer study from S&P Global—which asked mobile banking users which mobile banking features might get them to switch banks—reveals the contradictory responses consumers often provide. More than a third of all Americans have more than one checking account, and among Millennials that percentage is nearing a half.

Survey 78

Survey Mobile ATM Cards 78

Insights on Business

JUNE 7, 2017

Further, 33% of Millennials are only willing to wait 1 – 3 minutes to get a desired response, 52% have hung up on a customer service call, and 56% of Millennials have switched from one company to another because of underwhelming customer service. Multiply that by an average cost of about $1.00

Millennials 184

Millennials Training Customer Experience Study 184

PYMNTS

JULY 18, 2019

As noted in the study, larger financial institutions outpace smaller brethren when it comes to grabbing market share, largely through the competitive advantage of hefty IT budgets that get new products to market with haste. As millennials rise through the ranks and within the ranks, we see the rise of what he termed “digital natives.”.

Innovation 155

Innovation Study Technology Millennials 155

Gonzobanker

JULY 27, 2018

Power 2018 Retail Banking Satisfaction Survey—which did not include any digital-only banks or Fintech providers—found that the most satisfied customers regularly use both branch and digital channels (823 score of a possible 1,000), followed by branch-only users (801), with digital-only channel users the least satisfied (791). Another J.D.

Study 88

Study Survey Millennials Online 88

PYMNTS

JUNE 24, 2019

And past studies have shown that many (85 percent) gig workers say they would do more work if they were compensated faster. There are opportunities for FinTechs in this space to facilitate on-demand wages where that service is prohibitive for many employers because of the increased administrative burden of payroll. percent of the U.S.

Payments 162

Payments System Millennials Community Bank 162

PYMNTS

MAY 23, 2017

The news itself is “neither cause of celebration or alarm,” according to NY Fed Research Officer and study co-author Donghoon Lee. Which leads to the bigger overall concern: the millennial borrower. According to the latest data out of the New York Federal Reserve , total U.S. household debt hit $12.73

Millennials 108

Millennials Lending New York Trends 108

PYMNTS

JUNE 26, 2020

More than 10,000 financial institutions (FIs) around the world are implementing or exploring open banking , an emerging trend in the financial industry that allows banks and FinTechs to freely share their data, encouraging collaboration and the development of new customer-facing services. Countering a Lack of Trust in Open Banking.

System 198

System Data Security Examples 198

PYMNTS

SEPTEMBER 18, 2018

The rise of FinTech offers a bit of a prism through which to view those events. A survey by the Forum found that about 45 percent of overall respondents – but just 28 percent of millennials – agree with the statement that banks are fair and honest. The trigger for the look back has of course has been the Sept. Behind the Numbers .

Lending 148

Lending Innovation Fintech Cards 148

PYMNTS

SEPTEMBER 16, 2019

This report — the third in our annual series — shows the results of a national study of 5,000 U.S. That is just one of five critical findings highlighted in How We Will Pay 2019 , a PYMNTS, Visa collaboration examining how consumers use a wide range of connected devices to shop and make purchases.

Report 188

Report Study Meeting National 188

Insights on Business

APRIL 13, 2017

Further, 33% of Millennials are only willing to wait 1 – 3 minutes to get a desired response, 52% have hung up on a customer service call, and 56% of Millennials have switched from one company to another because of underwhelming customer service. Multiply that by an average cost of about $1.00

Millennials 131

Millennials Training Study System 131

PYMNTS

FEBRUARY 23, 2017

Millions of millennials have joined the gig economy, and according to Hyperwallet CEO Brent Warrington, they’re motivated by a desire for freedom and flexibility. It appears there are more millennial gig workers than there are millennials in the regular workforce. BW : I think it’s a combination of both.

Millennials 116

Millennials San Francisco United States US 116

CB Insights

SEPTEMBER 10, 2019

While the media often portrays millennials as preoccupied with the rising prices of festival tickets and avocado toast, their real financial concerns are a bit more practical. Download the free report to find out how fintech is shaping the future of wealth management and investing. get the REPORT on next generation investors.

Millennials 77

Millennials Mobile Lending Cards 77