Americans have opened new accounts, taken out additional loans and carried balances in the past year, and many showed preferences for managing all of this digitally. But they remain concerned about cybersecurity — and the real risk that sharing their financial data over multiple digital...
Lael Brainard, a member of the Federal Reserve’s board of governors, said the rapidly changing digital finance world, with its decentralized focus, will necessitate the Fed change its ways, too. Speaking before the 2022 U.S. Monetary Policy Forum in New York City on Friday (Feb....
Financial services providers have an opportunity to help the unbanked and underbanked, graduate them to fully banked and retain them as regular customers. Orlando Zayas, CEO at Katapult, says they can do this by offering a combination of immediate solutions to include them into the...
Although 48% of banking customers still use branches for some business, just 11% bank primarily at branches. Meanwhile, 41% use a mobile app as their primary means of banking, and 82% do some of their banking digitally. The digital transformation is in full swing, but...
There may be no financial services product quite as universal as the checking account. Liz Bergman, VP of digital checking and debit product management at American Express, told PYMNTS in an interview that the digital age demands checking accounts that move well beyond simple withdrawals...
Twenty-six percent of Americans have a disability of some kind, and FIs must design their digital and in-person solutions with this in mind. In the latest Digital-First Banking Tracker, Truist’s Miranda Capra talks about the role of alternate text options and multichannel support to boost...
American Express has launched its first all-digital consumer checking account, available for eligible consumer card members in the U.S. Rolled out Tuesday (Feb. 8), American Express Rewards Checking offers benefits that include membership rewards points for eligible debit card purchases, an annual percentage yield (APY)...
As financial institutions (FIs) take on the accelerated digital transformation that has accompanied the pandemic, the importance of ensuring accessibility for all customers has been thrown into stark relief. Most customers consider mobile banking indispensable after months of social distancing, and reliance on physical banking...
With new entrants to the business lending environment adding competition — and then pressured by a two-year cash crunch coupled with new forms of lending that have regulators flummoxed — the industry is undergoing a tectonic change in 2022. In many cases, FinTech and others...
