Online bill payments are rising. Banks and credit unions should make this service — which drives loyalty — central to customer interactions.
Higher rates have commoditized mortgages more than before. To stand out, lenders must provide guidance to borrowers early in home shopping.
Citizens Bank, PNC and U.S. Bank all see fast-growing 'on-demand pay' appealing to gig workers, Millennials and hourly employees.
Traditional banking institutions can expand offerings for consumers and find more profit by sharing data with fintechs and other partners.
Once considered highly unlikely, core computing in the cloud is now a reality and growing. Banks must develop strategies to embrace the trend.
New study also finds a quarter of Millennials already regard a tech/fintech company (e.g. Apple, Venmo) as their primary financial provider.
Mobile has risen to be the top channel for 'everyday banking.' In-app connections to humans could further increase the channel's dominance.
Launching in 2023, FedNow real-time payments have grabbed the attention of smaller banks, credit unions, fintechs ... and The Clearing House.
Mortgage lenders seek new strategies and technologies to deal with changing borrower demographics and streamline the homebuying process.
Account-to-account (A2A) payments reduce interchange income and could hasten the decline of payment cards, but also bring new opportunities.
The most formidable challenge of digital transformation isn't technology, but having the right people with the right skills.
Data from a comprehensive Federal Reserve study puts real numbers behind the massive changes in consumer and business payment habits.
After record spikes, the numbers plummeted. But the overall trend masks very different scenarios that banks and credit unions must consider.
Just as more Millennials are finally looking to become homeowners they find starter homes have been grabbed by retirees or investors.
A new report flags the skills gap financial institutions face as the industry becomes more tech driven. Altering hiring criteria is crucial.
Mortgage-as-a-service gets a big boost, giving community financial institutions new options, and confirming the value of a human connection.
For institutions, ITMs help with staff shortages, market growth and branch efficiency, but few consumers use them. Those that do, like them.
Banks and credit unions must adapt to technology and demographic changes as the frenetic home-buying boom unwinds.
Chase, First Horizon, Live Oak Bank and others have shifted major parts of their core systems to the public cloud, marking a turning point.
The fast-growing BNPL market, popular with Millennials and dominated by fintechs, is already siphoning billions in revenue from banks.
New data confirms many of this group seek larger living space, yet Covid has added extra hurdles that mortgage lenders must understand.
The pace of digital transformation will rocket as vastly increased network speed and connectivity empowers both banks and their competitors.