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Required Fintech Reading: Oct 20-24

Oct 24, 2014 11:16:00 PM

 

Will Millennials Change Banking Forever?
The Financial Brand on how millennials' financial attitudes and preferences will change the industry.

“The bottom line, according to the ICBA, is that Millennials are bringing a new perspective to banking. This generation is keenly aware that they need to better understand finances, place value in banks that help make their dreams a reality, and expect much of the experience to happen directly from their preferred mobile device, and all without carrying much cash.” 

Smartphone-Toting Millennials Fuel Demand for Mobile-Optimized Sites
Emarketer’s breaks down studies from Mitek and Zogby Analytics on US smartphone use and expectations.

“Growth in the millennial smartphone audience is slowing as penetration among mobile phone users in the demographic hits impressive highs. eMarketer estimates that there will be 66.4 million US millennial smartphone users this year, representing 81.2% of mobile phone users in this age group. This total will hit 86.2 million by 2018, when 99.7% of millennials who use mobile phones will have a smartphone.”

The Next Evolution in Mobile Payments
Blue Note’s George Lawson provides a global picture of the growing payments market and what it takes to succeed.

“What will ultimately drive the adoption of mobile payments, however, is the customer experience. When consumers are offered a solution that’s more convenient than what they’re currently using, they’ll change.”

Mobile Banking Divergence: Where True Adoption Begins
Banktech’s Mike Dreyer on the best way to optimize mobile apps to attract “tech-savvy customers.”

“The banks that do get it right and go above and beyond the traditional internet offering, embracing mobile as a legitimate force in the banking industry, are already reaping the benefits. With mobile-first features in play -- like easy, non-intrusive login capabilities, push notifications offering engagement opportunities, and sophisticated, user-oriented design features -- successful mobile banking apps have users checking in almost once a day.”

Fed Says Cash Is Finally Dying
PYMNTS.com analyzes the latest Suvery of Consumer Payment Choice from the Federal Reserve and finds cash payments dropped for a third straight year to 26.8 percent.

“The share of online transactions—both bill and nonbill—increased over the two-year period, while the share of payments for services and P2P dropped. The share of retail payments did not change significantly during the 2010–12 period.”

Next Bank Americas: Sh*ft Happens
@Sam Maule shared his presentation on the macro trends driving disruption in the financial services industry.

Preston Wittwer

Written by Preston Wittwer

I measure distance with podcasts and gauge time in movies.

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