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Required Fintech Reading: Dec 6 - 12

For The First Time, A Majority Of US Online Banking Customers Access Their Accounts On Smartphones And Tablets
John Heggestuen on the rise of mobile at the top three US banks.

"Mobile banking has overtaken desktop-only digital banking at three top banks in the US — Wells Fargo, Bank of America and JPMorgan Chase."



The Year of Fintech
Toby Young, CTO of Ebury, talks about the sharp rise of fintech.

"The fintech industry is booming. Browse through the business pages in any national daily and you’ll likely hear about a fintech startup challenging convention or setting the pace with funding and investment.

Recent figures only serve to prove the rapid growth of the sector with deal volumes growing at a yearly rate of 74% since 2008. Start-ups are at the forefront, raising over $700m from investors during the same period (Accenture)."

How Banks Are Allocating Their Tech Budgets for 2015
Peggy Crosman looks forward and outlines what 2015 has in store.

"The two biggest centers of IT spending growth among North American banks for the coming year, according to Ovum, are mobile banking, which is expected to grow 7.5% next year, and online banking, which expected to rise 7%."


Marketing Must Evolve or Banks Face a ‘No-Growth Death Spiral’
The Financial Brand covers a startling report from Cornerstone Advisors.

"A research report from management consulting firm Cornerstone Advisors, Inc. reveals that mid-size banks have made negligible progress on revenue growth in the past two years, and have not changed their marketing strategy to adequately address the changing landscape. The research shows that the 20th century models in place today at the majority of mid-size banks are a direct threat to their competitive futures."

The Future of Digital [Slide Deck]
BI Intelligence's deck covers all things digital in 121 slides.

We pulled the five most important slides for banks and credit unions here, but they're all worth looking at. This chart below is especially important for financial institutions, which should be asking themselves whether they're prepared for the digital revolution:


The Cool Kids Guide to Banking and Finance
John Abell on the relationship banks have with millennials.

"Have millennials sworn off banking — or are banks just particularly lousy at engaging with this tech-savvy, recession-burned group?

A bunch of recent reports make it look like the former: In a survey earlier this year, the Washington-based FINRA Financial Investor Education Foundation found that about 12% of millennials say they don't use the banking system, which is "more than any other generation, including GenX."