Are Banks & Credit Unions Losing Out on Savings Apps?

  • “As of October 2019, the U.S. personal savings rate stood at 7.8%, according to the St. Louis Federal Reserve. And a survey by Bankrate found that 40% of Americans can’t come up with $1,000 to handle an unexpected emergency.
  • At a time when consumers are begging for help, banks have a chance to be a hero and better their bottom line in the process. Automated savings apps not only enhance the customer experience but keep money in the bank that would have otherwise been spent.”

https://thefinancialbrand.com/91790/banks-credit-unions-savings-apps-fintech-mobile-ai/

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