– “More than 80 percent of Gen Z and Millenials are using a money transfer app – compared to 50 percent of baby boomers
– More than 80 percent of respondents have not used a buy-now-pay-later (BNPL) and nearly 75 percent avoid credit card debt generally or entirely
– MX, Finn AI, Q2 and Rival Technologies’ white paper explores the use of financial products and services by baby boomers, millennials, and Gen Z”
- “Companies are struggling to provide a consistent and holistic omnichannel experience for their customers while blending remote and in-person work.
- As many as 50% of respondents intend to improve management of customer data as their top CX priority over the next 12 months because they recognize that creating the immersive, personalized, and compelling experiences customers now expect”
Read the full report by Forrester
Check out the entire Digital-First series:
- (October) “Ally Financial On Tapping AI-Powered Tools For Digital-First Banking Experience
- (September) Answering Phones And Online Service: The Case For The Human-Centric Digital Bank
- (August) PNC Says Hello To Small ‘Solution Centers’ And Goodbye To Aging Branches
- (July) Report: Interactive Teller Machines Give FIs New Tool In High-Tech, High-Touch Service Model
- (June) Interactive Teller Machines: Banking’s Next Big Thing?”
- “Most consumers are reaching for their phones or laptops first when it comes time to conduct routine financial tasks. PYMNTS data shows 70% of United States consumers at larger financial institutions (FIs) report this is the case.
- 41% of individuals in the same report stating mobile as their preferred banking channel of choice.
- 478 million households will count as “smart homes” by 2025 — filled with devices they will increasingly tap for banking and payments.
- 31% of U.S. consumers now have voice-activated speakers in their homes, for example, with a rising number of these owners making use of the devices for payments.
- 35.3 million wearable payment devices were sold in the first half of the year, indicating significant interest on the part of consumers.”
About the Tracker
The Digital-First Banking Tracker®, a PYMNTS collaboration with NCR Corporation, is your go-to monthly resource for updates on trends and changes in digital-first banking.
“Gartner, Inc. announced its top 12 strategic technology trends for 2022 and beyond.
Generative Artificial Intelligence (AI)
Cloud-native Platforms (CNPs)
Privacy-enhancing Computation (PEC)
Total Experience (TX)”