The share of U.S. households that are unbanked continued falling in 2019, reaching 5.4%, the lowest rate yet recorded in a biennial FDIC report.
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The ongoing digital shift in banking will provide more opportunities to unlock better customer experiences.
Even before consumers’ acceleration to online shopping due to the pandemic, card-not-present debit transactions rose 21% year-on-year in 2019, according to Pulse’s debit issuer survey released today.
With EMV card deployment reducing fraud at the point of sale, cyber-criminal schemes are targeting email, mobile devices and other channels.
Ninety-five percent of respondents in a recent American Bankers Association/Morning Consult survey rated their bank’s online and mobile app experience as “good,” “very good” or “excellent,” and 77% agreed that technological improvements by banks are making it easier for them to access their financial services.
Eighty-two percent of consumers are less likely to consider switching banks once they become accustomed to their bank’s digital banking services, according to a study released today by Iselin, N.J.-based Provident Bank.
From simplified 10-step online account openings, to value-added robo-advising, to “certified digital bankers,” OceanFirst Bank delivers a new community banking experience.
Debit card use and market penetration continued to grow last year, while fraud losses declined, according to Pulse’s debit issuer survey released this morning.
With the explosion in connected smart devices, bankers will see more opportunities to serve customers—and confront thornier risks—than ever before.