The transition to digital banking was already underway even before the pandemic made it a near necessity overnight. Research from the American Bankers Association (ABA) has identified mobile apps as customers’ preferred banking channel even before the pandemic began, and this trend has accelerated. Consumers...
Consumers are reengaging in the physical world but still want self-service banking tools that provide an end-to-end contactless experience. In the Digital-First Banking Tracker, Allison Beer, head of customer experience and digital for Chase Bank, explains how using mobile banking apps to start cash withdrawals...
In today’s top news in digital-first banking, Zeta has raised $250 million in a Series C funding round backed by SoftBank Vision Fund 2, while Together Credit Union in St. Louis is working with PSCU for credit and debit processing support and services. Plus, Square...
Despite the widespread adoption of digital banking, many consumers still prefer to do some business at the branch. One recent survey revealed while 93 percent of respondents said their bank’s website or mobile app meets their needs, the availability of tellers and account specialists is...
The great digital shift has brought us all onto our mobile devices. But as we become ever connected with financial services firms through phones, tablets and laptops, banking has lagged a bit. As PYMNTS research has shown, roughly 45 percent of account holders use online...
The typical guiding principle behind banking has been “by the bank, for the bank” — where financial institutions (FIs) have focused on selling products rather than building customer experiences. It’s a model in which, over the past several centuries, consumers have gone to the branch...
The differences in open banking — here and across the pond — stand in stark relief. In the U.K., it’s mandated. In the U.S., it is the free market that is determining open banking’s evolution. In a PYMNTS TV episode on open banking, London-based TrueLayer...
A new commitment from Wells Fargo will try and help underbanked individuals with affordable, easy bank accounts, according to Reuters on Monday (May 17). The initiative will especially aim to help Black consumers, Hispanics and Native Americans. There’s FDIC data showing that 12.2 percent of...
In today’s top news in digital-first banking, Treasury Prime closed on a $20 million Series B insider funding round, while Rho Technologies is launching the Rho Card. Plus, U.S. Bank has joined with Plaid in an open finance partnership. Banking-as-a-Service Startup Treasury Prime Notches $20...
