It wants to become a one-stop shop for businesses and consumers alike

The deal received conditional regulatory approval, shaking up the card space and larger financial service industry

Over a third of adults in the region don’t have a bank account. Only the Middle East and Africa has a larger proportion of unbanked consumers, per 2021 World Bank data analyzed by BCG. And the unbanked population is unevenly distributed: Just 59% of low-income consumers and 40% of rural inhabitants in Latin America have access to a banking account, per a January 2023 Mastercard and Americas Market Intelligence (AMI) survey.

We list the key takeaways from EY’s survey of Gen Zers.

A large majority of US adults under 35—60% of adults aged 18-24 and 62% of adults aged 25-34—mainly use a mobile app to interact with their bank, according to September 2024 data from Fico.

Nonbank lenders face lighter regulatory oversight than traditional lenders, allowing them to take on more risk when it comes to AI. When used in the lending process, AI can speed up approvals and communications while personalizing service.

Timing ad buys to seize on key engagement windows: Our Industry KPI data reveals Gen Z has predictable spikes in searches for apparel, gaming content.

This bodes well for fintechs trying to build out their financial services offerings.

In today’s episode, we talk about whether regulators will allow, and consumers will adopt, AI over human financial advisors. Will AI close or widen the wealth gap? What happens if an AI financial advisory loses your money? Join the discussion with host and Head of Business Development Rob Rubin, and Analysts Lauren Ashcraft and Jacob Bourne.

Younger banking customers care more than their older counterparts about banks’ diversity.

The technology will improve banks’ customer service and help them deliver more personalized interactions.

PayPal is the most popular mobile payment app that US adults typically use, with over twice as many users as the next most popular choice, Venmo, according to November 2024 data from YouGov.

While it still faces hurdles, the company’s finances have improved markedly—setting it up for a strong IPO in 2025

We explore how banks can best leverage popular platforms to reach potential customers.

While this move can save banks millions, customers aren’t ready for the change

Online access and a fee-free ATM network are the two most important bank services/features according to US banking customers, per to a July 2024 survey from Nerdwallet conducted by The Harris Poll.

Banks should plan to adjust their products to meet changing customer needs and sentiment, while considering changing financial regulation.

Consumer banking will evolve from a product-centric model to a customer-centric one over the next few years. This will require significant changes to banks’ apps, pricing structures, and customer service.