In 1978, a blizzard hit New York City and closed the banks for four days. New Yorkers who needed cash to buy gas and groceries on that long, snowy weekend turned to technology they had previously ignored: automated teller machines. For more than a decade, customers who preferred to do their banking with real people […]
Read MoreIt’s hard to believe there was a time when consumers couldn’t access their bank account from a smartphone or even their laptop. But as recently as the 1980s, what’s commonly referred to today as digital banking was quite a different story.
Read MoreBefore the pandemic, the banking industry had largely embraced digital offerings. Many American consumers have become accustomed to quickly depositing a check by simply taking a picture or transferring funds with the click of a button.
Read MoreAlliant Credit Union began moving towards a branchless, digital-first model in 2014, when it had about a dozen offices that were seeing less and less use. The credit union’s reach had been increasing as it continued adding additional employee groups to its membership, which had started with employees of United Airlines.
Read MoreThe rise in digital banking is causing increasing havoc when people pass away, as their loved ones struggle to track down assets, research shows. It has become tougher for people to find the deceased’s digital financial accounts, according to 88% of probate lawyers in a survey by Direct Line Life Insurance.
Read MoreThe COVID-19 pandemic has rattled the financial industry more than any event since the Great Recession. Banks have been designated as essential businesses and have largely remained open, but the normal way of doing business has all but disappeared.
Read MoreDigital banking deals a easier and much safer method for clients to gain access to monetary services The rise in e-commerce and online deals will motivate the adoption of digital banking services Pandemic push for digital banking will see its effect withstand for years In the thick of the pandemic, we saw a boom in […]
Read MoreBy: Brandon Dewitt As the calendar nears the midpoint of 2020 and banks continue adjusting to a new normal, it’s more important than ever to keep pace with planned initiatives.
Read MoreWhen the history of the coronavirus’s impact on Latin America is written, it will highlight the acceleration that the virus had on the shift to digital banking and the subsequent economic impact of this.
Read MoreBanks and credit unions will need to increasingly leverage data, innovation and a platform business model to deliver digital banking solutions. The post COVID-19 Accelerates Urgency For Digital Banking Transformation appeared first on The Financial Brand.
Read MoreThe COVID-19 outbreak has brought about drastic changes in our lives, and by every measure we are going through a great crisis. It is natural to assume that the pandemic will be a turning point in modern history, and many experts argue that the world we are entering will be fundamentally different from the one […]
Read MoreFinancial institutions’ (FIs’) consumers and business clients expect instant access to needed financial services regardless of which devices they use, but reality can fall short of their expectations.
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