Financial Literacy/page/2 news and trends

JPMorgan Opening Dozens of Branches in Low-Income Communities
Banking // October 02, 2024

J.P. Morgan Chase reportedly wants to open almost 100 branches in low-income communities. As the Wall Street Journal (WSJ) reported Tuesday (Oct. 2), this effort will include inner cities and rural towns where banks have for years been shuttering brick-and-mortar locations. The new branches will...

Greenlight and Google Team on Fitbit-Focused Financial Education
Wearables // August 07, 2024

Financial education-focused FinTech Greenlight has launched a collaboration with Google. The partnership, announced Wednesday (Aug. 7), connects Greenlight’s debit card to Google’s Fitbit Ace LTE, a smartwatch designed for kids, letting them learn to “spend wisely” and tap to pay with their watches. “At Greenlight,...

Monzo Debuts Digital Bank Accounts for Kids Under 16
Digital-First Banking // July 17, 2024

 British digital bank Monzo is launching a free account for children under 16. The bank on Wednesday announced the waitlist for Monzo for Under 16s, designed to offer money management tools to kids between the ages of 6 and 15.  “The account gives children the...

Report: Teenagers in Wealthy Nations Lag in Financial Literacy
Consumer Insights // June 27, 2024

A new report says teens in more prosperous countries are lacking in financial literacy. While more than two-thirds of students routinely use financial products and services, levels of financial literacy are too low to make sure they can avoid financial risks, the Organization for Economic...

Interviews & Exclusives
79% of Millennials and Gen Z Turn to Social Media for Financial Advice

October 14, 2024
Social media algorithms have emerged as influential players in the realm of advice, effectively acting as pseudo-advisers for generations eager for financial literacy. A PYMNTS Intelligence report, “The New Challenges Facing Finance: Algorithms, Finfluencers and the Quest for Reliability,” a collaboration with NCR Voyix, illustrates how digital transformation presents opportunities and challenges for both consumers […]

Synchrony GM Explores Synergy Between Consumers’ Financial and Physical Wellness

June 18, 2024
Health is wealth — but all too often, wealth can have an outsize impact on health. Financial stability directly influences an individual’s ability to access healthcare, particularly preventative services. And...

‘Finfluencers’ Come Under Fire Amid New Social Media Controversy

March 19, 2024
Social media is very much under the microscope lately due to the controversy surrounding a potential TikTok ban and various cases regarding its regulation in front of the Supreme Court. And with that...

Gen Z Is Only 4% of Credit Union Members, and That’s a Problem

June 09, 2023
Young consumers are feeling the pinch. According to recent PYMNTS data, 73% of millennials live paycheck to paycheck — the highest rate among all generations, with Generation Z close behind...

Quick Reads
JPMorgan Opening Dozens of Branches in Low-Income Communities

October 02, 2024
J.P. Morgan Chase reportedly wants to open almost 100 branches in low-income communities. As the Wall Street Journal (WSJ) reported Tuesday (Oct. 2), this effort will include inner cities and rural towns where banks have for years been shuttering brick-and-mortar locations. The new branches will feature the basics of banking — tellers, ATMs, etc. — […]

Greenlight and Google Team on Fitbit-Focused Financial Education

August 07, 2024
Financial education-focused FinTech Greenlight has launched a collaboration with Google. The partnership, announced Wednesday (Aug. 7), connects Greenlight’s debit card to Google’s Fitbit Ace LTE, a smartwatch designed for kids,...

Monzo Debuts Digital Bank Accounts for Kids Under 16

July 17, 2024
 British digital bank Monzo is launching a free account for children under 16. The bank on Wednesday announced the waitlist for Monzo for Under 16s, designed to offer money management...

Report: Teenagers in Wealthy Nations Lag in Financial Literacy

June 27, 2024
A new report says teens in more prosperous countries are lacking in financial literacy. While more than two-thirds of students routinely use financial products and services, levels of financial literacy...