Two national studies show that US bank consumers are shifting their preferences more to digital banking platforms, both mobile and online, instead of opting to go to branches – particularly to branches inside big retailers.
The Consumer Financial Protection Bureau is warning that Apple and Google restrictions on banking and other payment apps on mobile devices could hurt the growth of digital banking and payments in the US.
With a record number of retail bank customers using mobile apps during the past year, national banks saw increased customer satisfaction with these apps, while satisfaction with regional bank apps declined, according to a series of recent studies by J.D. Power.
Even before consumers had felt the full effects of the coronavirus pandemic and economic shutdown, customers across generations considered easy-to-use online banking an important factor when looking for a new banking relationship, according to a survey by Boston-based Aite Group.
With limited access to bank and credit union branches during the coronavirus pandemic, customers have turned to online and mobile banking tools. But a new study shows that consumers have not done enough to prevent fraud on their accounts.
As more customers started using online and mobile technology, The Cooperative Bank of Cape Cod wanted a program to help customers, especially those within the region’s older population, to become more comfortable with the technology.
Traditional bankers’ fears of Big Tech companies jumping into the banking sector could be starting to come true.
Mobile banking transactions will more than double by 2022, while branch visits will dwindle to just four visits each year for the average consumer in the same period.
A high majority of Americans are very pleased with their mobile banking experiences.
A mobile banking startup seeks to become the first national bank in American history designed for people who want to bank first and foremost on their smartphones.
When the Andover branch of Reading Cooperative Bank wanted to expand into the nearby Lawrence market, branch manager Gladys Martinez, one of this year’s Community Bank Heroes, knew just what to do.
Santander recently launched a mobile app exclusively for its business customers.
It’s no secret that technology is rapidly changing the way we lead our lives and do business. Countless tasks that were once considered time-consuming and tedious can now be completed with the swipe of a finger and a tap on a screen.
