Digital Innovation & Mobile Banking
The pandemic-driven economic crisis has precipitated a flurry of loan activity. As customers rush to take out new loans or modify existing ones from the safety of their homes, banks’ digital capabilities have been put to the test. A survey of 1,006 Americans revealed that banks mostly succeeded in providing customers the digital loan experience they sought during the pandemic. Yet glaring flaws,...
Do customers even want to go back to a reality where “business as usual” means long lines, bounded banking hours, and physical paperwork? The answer, as this report will show, is a resounding “no.” A survey of 1,028 Americans conducted in mid-May underscores the impact COVID-19 is having on consumer banking. In this report you’ll discover: Up-to-date consumer sentiment and Corona's impact New...
As consumers increasingly desire faster banking, more convenient access to their accounts and quicker decisions on their loan requests, financial institutions are hamstrung by a rising wave of new financial regulations. The burden includes new and existing regulatory requirements including the CECL accounting standard, KYC/AML, customer disclosures and fair lending laws, while risks of default,...
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