This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Mobilebanking is a rapidly growing market that’s projected to hit a value of US$7 billion by 2032. The 2023 study, which analyzed malware targeting banking apps, uncovered that 29 malware families targeted 1,800 banking applications across 61 countries last year.
Not only are many account holders visiting brick-and-mortar branches less often than they did before the pandemic, but many are also more reliant on digital banking channels — particularly mobilebanking apps — than they have ever been. PYMNTS research shows that consumers are 8.7 According to PYMNTS research, 25.8
In its latest research, the firm uncovers how consumer spending on apps has evolved in the past year. In total, the State of Mobile report for 2025 by Sensor Tower, shows there has been a 13 per cent year-over-year (YoY) increase in subscriptions and in-app purchases. Food and drink app downloads (+8.5
Consumers were forced to swiftly adapt to a world where their primary way to interact with businesses or banks became digital-first, with the pandemic seemingly increasing the number of consumers turning to digital tools to conduct their financial activities. PYMNTS research found that 21.6
Digital banking is reaching unprecedented levels of popularity amid the pandemic, with 89 percent of American bank customers using mobilebanking apps to manage their savings and checking accounts. For more on these and other digital-first banking news items, download this month’s Tracker. billion by 2024.
In fact, recent PYMNTS research shows that most consumers believe they can do a better job of identifying and protecting themselves against fraud than their FIs, with 71.2 Despite widespread demand for greater mobilebanking authentication controls, only 39.9 percent) or using mobile card controls (63.5
American consumers have fallen for mobilebanking apps, but up to now, most businesses were not seemingly showing apps the same love. With the number of mobilebanking customers now outnumbering those who bank at branches for the first time, consumers have warmly embraced banking via mobile apps.
Consumers have come to expect specific services and features from their banks. New research conducted by PYMNTS, however, reveals that banks and other financial institutions (FIs) appear to be lagging in terms of meeting these expectations. PYMNTS’ research indicates that nine out of 10 U.S. About The Playbook .
But these digital and mobile solutions are not popular just among those deployed overseas. According to recently released research from the American Bankers Association, mobilebanking is becoming increasingly popular among consumers of young ages. About The Tracker.
At a time when 80 percent of apps ask for (and are usually given) users’ geolocation data, the fact that most mobilebanking applications still don’t is unacceptable, GeoGuard CEO David Briggs told Karen Webster in an interview. Two-thirds of all banking apps don't ask for location at all,” Briggs said.
Meanwhile, ING Netherlands announced that its customers would now be able to use the bank’smobile app to send money via social media. The increase in mobilebanking usage is also causing companies to rethink their security needs. First National Bank of Pennsylvania, the largest subsidiary of F.N.B.
In a new report from SCORE , researchers revealed just how large of a target small businesses are for cybercriminals, deploying a range of technologies to carry out their crimes — 43 percent of cyberattacks targeted SMBs last year. Researchers advised small business owners to not download any email attachments from an unnamed address.
Whether it’s Chime or other apps, millennials are increasingly turning to their mobile devices to keep track of their financial health. According to new research released by Halifax Savings, 80 percent of adults between the ages of 18 and 24 said they believe mobilebanking services are an effective way of saving money.
Being granted access to their customers’ true geographic locations could give financial institutions (FIs) crucial access to data that could protect consumers’ accounts, especially as more of them use mobile channels to shop and pay. These are just a few of the findings illuminated by our research.
Our research also examines the changes to this engagement since the onset of the pandemic. The research further demonstrates that a significant share of consumers’ loyalty to their banks hinges on being able to access such options.
Neural Payments’ innovative platform enables bank customers to transfer money from their account to anyone, regardless of whether the recipient’s institution utilizes Neural Payments and without the need to download a third-party app or register a new card. trillion by 2032 based on a report by Precedence Research.
In search of added convenience and simplicity, banking customers are migrating to online and mobilebanking interfaces, leaving in-person visits to brick-and-mortar branches behind. To read the full story, download this month’s edition of the Digital Banking Tracker. . About the Tracker.
Online and mobilebanking interfaces have become must-have features for financial institutions in the digital age. Fifty-five percent of Americans have a full-service banking app on their phone, and 16 percent check these apps at least once per day. <FORM TK> About the Tracker.
Download the free report for a data-driven look. All 2017 Fintech 250 companies remain active and in operation, when our own research shows that 67% of funded startups fail or stall. Reorg Research. Personal Finance & MobileBanking. Personal Finance & MobileBanking. Quantopian.
App-based personal bank Jiko, set to debut in 2018, says its efficient structure allows for providing 0.5 Meanwhile, mobilebank Zero says bypassing physical locations allows for a 1 to 3 percent cash back on all spending. TO DOWNLOAD THE NOVEMBER EDITION OF THE PYMNTS DIGITAL BANKING TRACKER , CLICK THE BUTTON BELOW. .
Britt contended that there is a major gap between the kind of service that millennials want and expect from a bank, and what major financial institutions are actually offering them. But, if those new banking options don’t continue to grow and evolve with their new clients, they may not last. About the Tracker.
Mobilebanking apps are designed to make digital banking more convenient for customers, yet 21.7 We surveyed 2,835 consumers about how they used their banking apps, what they liked about them and what they thought could be improved in order to determine which types of app features would best meet their customers’ demands.
Mobilebanking. Mobile order-ahead. Monitoring app usage metrics such as downloads and sessions per user, apps in the Provider Rankings receive a weighted score relative to direct competitors. The Provider Rankings kicked off in January 2020 with the Mobile Order-Ahead standings for top apps in that category.
Bank of America announced Tuesday (June 12) that Erica, its AI voice-activated virtual financial assistant that is available through its mobilebanking app, has surpassed one million users. In addition to making Erica available on a nationwide basis, Bank of America said more features are being added to the mobilebanking app.
As more Americans reach for their mobile devices when making purchases, providers are looking for new ways to secure smartphones. According to industry research, mobile commerce now accounts for nearly a third of the U.S. economy, with sales via mobile devices contributing more than $104 billion to the economy.
Our research suggests that traditional FIs may be underestimating consumers’ willingness to embrace new, and some say better, ways to manage and spend their cash. . The details are offered in Building a Better App: Banks and the Innovation Imperative Report , a collaboration between PYMNTS and Ondot Systems, the Silicon Valley-based FinTech.
But while 80 percent of apps ask for and are typically granted access to users’ geolocation data, most mobilebanking applications do not. He said that the growth of online banking and the need to protect personal data makes the banking sector’s failure to use geolocation information almost inexplicable.
PYMNTS.com research shows that Polish consumers are being lured away from cash by new digital forms of payment. According to the research inside the Index Analysis, cash is still the preferred payment method in Poland, and Erdman said she has seen evidence of its popularity. To download the analysis, click below….
Brick-and-mortar presence used to give credit unions (CUs) a competitive edge over digital-only challenger banks. PYMNTS research shows that 41.5 percent of CU members believe that being unable to visit branch locations represents one way in which using challenger banks would make their banking experiences worse.
To read see the full story, along with rankings of more than 300 players in the Digital Banking space, check out the latest edition of the Tracker. . TO DOWNLOAD THE JANUARY EDITION OF THE DIGITAL BANKING TRACKER , FILL OUT THE FORM BELOW. . contact-form-7]. About the Tracker.
FBI Issues Warning To BankMobile App Users. As the use of mobilebanking apps surges due to the limited access to banks amid the COVID-19 pandemic, the FBI is warning users to beware of cyberattacks. New Funding To Make DoorDash A $15B Company.
VibePay is a payment initiation service (PIS) that uses open banking to facilitate payments. Members invited to test the system can download the free app and share a special payment link to quickly send money to people in the Vibe community. Recent research indicates 25 percent of young people in the U.K.
Whether you need to pay bills, exchange business cards, download coupons, or share a research paper, you can do it quickly and hassle-free with a single touch. How Do NFC Mobile Payments Work? Many well-known brands already use NFC-based contactless payments, including Apple Pay, Google Pay, and Samsung Pay. The Bottom Line.
To read the full story, along with rankings of more than 300 players in the Digital Banking space, check out the latest edition of the Tracker. . TO DOWNLOAD THE FEBRUARY EDITION OF THE DIGITAL BANKING TRACKER , FILL OUT THE FORM BELOW. . contact-form-7]. About the Tracker.
Download this presentation from the CB Insights Innovation Summit to see the technologies, business models and distribution innovations that you should watch for in the next 5 to 10 years. Google’s X research center is where some of their biggest projects happen. Innovation Lab Name: Xerox Palo Alto Research Center (PARC).
TO DOWNLOAD THE DECEMBER EDITION OF THE PYMNTS DIGITAL BANKING TRACKER , FILL OUT THE FORM BELOW. . When it comes to protecting payments, it seems faster may not mean riskier, after all. . contact-form-7] . About the Tracker.
Download the free report to get a break down of all the industries facial recognition is disrupting and how. Few sectors place as high a premium on security and fraud prevention as the banking industry, and US-based banks are already using facial recognition with both priorities in mind.
An Accenture Banking Customer Survey found that, on a monthly basis, the majority of interactions (just over 88 percent) between banking customers and their banks are conducted via digital means — mobilebanking, ATM withdrawals and social media engagement, to name a few. Citi customers in the U.S.
For consumers looking for mobilebanking options, there’s no shortage of solutions available in digital download stores alone. based, startup, digital and mobile financial firm Starling Bank, the answer has often involved trying to stay ahead in the crowded digital banking race. “The About the Tracker.
While some companies are experimenting with text-based banking solutions, others are taking a closer look at the potential of using voice recognition technology to reshape banking. The Australia and New Zealand Banking Group has designs to introduce voice biometric to bolster its mobilebanking platform’s security.
Santander Bank, for example, recently debuted an AI voice assistant, designed with Nuance Communications, the Burlington, MA-based company behind the voice of Siri. Efma and SAP have also recently partnered to release a new portal designed to help banks develop better online banking apps.
To read the full story, download this month’s edition of the Digital Banking Tracker. . The Digital Banking Tracker , powered by Feedzai , brings you the latest news, research and expert commentary from the FinTech and consumer banking space, along with rankings of over 300 companies serving or powering the digital banking sector.
Download this month’s edition of the Digital Banking Tracker, by filling out the form below: [contact-form-7]. . The development of AI- and ML-enabled solutions is seemingly well under way for financial services providers like PNC, but only time will tell how widespread their adoption will be. About the Tracker.
As Webster noted in a column about PYMNTS research on the subject, it can take consumers four different apps and four different interactions across their existing apps – and many minutes – to close the loop on that single flow. That’s not to jump too far ahead of developments when it comes to this new Ondot product, however.
We organize all of the trending information in your field so you don't have to. Join 5,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content