The top priority among US mobile banking users is knowing that their information is safe, according to our latest benchmark study of this banking channel. More than half (56%) said being notified of a Social Security number breach was “extremely valuable” to them, while 51% said the same of alerts for unusual account activity.
In a first, 62.1% of adults in the US will use mobile banking, surpassing the 61.5% who will use in-branch banking, per our forecast. This is a marked shift from 10 years ago, when 78.8% of adults used bank branches and 18.6% used mobile.
This fourth annual study ranks the four largest US neobanks by customers based on their support of 47 emerging mobile banking features, weighted by consumer demand for each feature.
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This fourth annual study ranks 10 UK banks and building societies based on their support of 42 emerging mobile banking features, weighted by consumer demand.
US banking digital ad spend will hit $13.54 billion in 2022, up 20.4% year over year. Growth was even faster in 2021, when banks anticipated an upswing in consumer spend. In the coming years, growth will decelerate but remain in the double digits.
Watch the on-demand replay of our webinar, Super Apps in Banking, as our analysts cover the advantages that set the leading competitors for banking super apps apart and what banks of all sizes are doing to prepare for 2022 and beyond.
Capital One was the most downloaded US banking app between January and April 2022, with 5.0 million net new installations. Digital-only contender Chime took the No. 2 spot, with 4.7 million, while Chase came in third, with 4.1 million net new installs.
This second annual benchmark evaluates seven Canadian financial institutions across six feature categories and weights their scores according to the results of a survey of mobile banking users in Canada.
Watch the on-demand replay of our webinar, The Bank in 2025, as we discuss 4 trends reshaping the industry and how banks can thrive in a fast-changing financial services landscape.
Watch the on-demand replay of our webinar, The US Mobile Banking Benchmark, as we discuss top mobile features that customers crave, how demand for these features differs when cut by key segments, and how banks and neobanks are measuring up in meeting customer demand.
The majority of US consumers are shouldering loan debt, with 61.1% holding one or more loan accounts with an outstanding balance. The most common types of accounts to have an outstanding balance are mortgages (33.3%) and auto loans (31.0%).
People trust their gut, but AI doesn’t have one: Executives are guarded about AI adoption for high-level use. There’s a path forward, but given the risks, C-suite caution is wise.
While banks work to fight fraud, customers are bristling at some of their security measures. Around the world, 35% of banking customers said what irritates them most is that the authentication factors keep changing. Another 24% are most annoyed by their card being declined for legitimate purchases.
The vast majority of US banks have no plans to offer some basic cryptocurrency-related services. For even the most widely adopted service—crypto investing or trading—only 1% currently offer it, and 78% have no plans to support it.
Chime was the most downloaded US mobile banking app in 2021, with 12.8 million downloads, up 16% from 2020. Other neobanks had a huge year as well: Current posted 67% growth in downloads, and Varo skyrocketed to 10th place with a 529% increase. That said, traditional banks took the rest of the top five positions.
Banks face growing pressure from shareholders and customers to take more action on sustainability. While transitioning to a greener business model will be challenging, banks have a plethora of strategies to choose from.
In 2021, mobile finance apps reached 573.1 million downloads in the US, up nearly 19% from 481.9 million in 2020.
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