Report: The US Wealth Management Ecosystem. Article: Avant broadens its digital banking capabilities with challenger acquisition. Article: Has the pandemic reshaped Gen Xers’ spending?

There are several approaches an FI can take depending on their needs and budget: an exclusive partnership between two companies, a marketplace approach underpinned by a broad partner ecosystem, or an accelerator program through which a bank could determine the best of the pack.

They adapted rewards toward essential goods to incentivize spending where consumers were; offered relief packages and tightened underwriting to retain customers and blunt risk; and started improving in-app customer service as digital banking engagement soared.

Digital Banking Users. Before the coronavirus, we expected that there would be 166.2 million adult digital banking users in the US in 2020. Now we project that there will be 189.0 million, an increase of 22.8 million from our earlier expectation. A desire to avoid in-person interactions at physical banking facilities is the clear explanation for this massive uptick. TikTok Users.