Registrations on mobile banking apps rose 200 percent in April as the COVID-19 pandemic prompted consumers to turn to remote banking services. But simply enabling consumers to open accounts via mobile devices isn’t enough, says Stephen Welling, director of retail banking for Atlanta-based Cadence Bank....
The new coronavirus led many financial institutions (FIs) to close or limit the hours of operation of their brick-and-mortar branches amid stay-at-home orders, in effect making digital platforms the only option for many consumers to interact with their banks. FIs thus received an influx of customers...
