The Corporate Insight Blog provides our clients with current and upcoming digital trends, news, and insights across financial services industries on variety of digital topics including mobile finance, social media, online financial platforms, user experience best practices and other hot-button tech issues.
TRENDING Product Updates and Launches – Across multiple industries, 21 firms made changes to their coverage set by either launching new products or updating existing ones. Matching moves made by the Federal Reserve, Ally Bank, Ameriprise, Bank of America, Capital One, Chase, KeyBank, Schwab Bank, TD Ameritrade, USAA and Wells Fargo increased rates on certain […]
Credit card debt plagues many Americans. The total owed by consumers in 2017 reached $931 billion, according to a survey by Nerd Wallet. Many people swipe their cards too often and then realize they cannot afford the payments, and falling behind can lead to an endless cycle. About 41% percent of Americans admit that unnecessary […]
A recent Bain study found that 74% of adults aged 18 to 24 expect to buy a financial product from technology firms in the next five years. Additionally, survey respondents of all ages ranked Amazon nearly as high as banks for trust with their money. Given the announcement that there are more than 100 million […]
A large proportion (73% of the population) of Southeast Asian consumers are classified as either underbanked or unbanked. While the underbanked have some form of insufficient representation by financial institutions, the unbanked have no deposit accounts and inhibited access to basic financial services. Some of these individuals rely on cash or other alternatives like payday […]
Nearly half of all Americans play video games, yet only a third have more than a thousand dollars saved for an emergency. A new fintech startup called Blast hopes to combine the increasingly popular pastime with saving for the future. Unlike other attempts to gamify savings that create entirely new experiences, Blast works alongside existing […]
With the average American spending $1,100 annually on coffee and more Americans than ever gravitating toward gourmet coffee (up more than 350% since 1999), the growing prominence of specialty brews is no secret. Consumers are prioritizing getting their caffeine fix over even important budget items like investing, with one-third of Americans spending more on coffee […]
In a move that seemingly goes against the trend of making sites optimal for mobile devices, Wells Fargo’s latest overhaul of its private site navigation transitions the firm from mobile-friendly slideout menus linking to overview pages to extensive flyout menus providing access to all site pages. Despite its seamless cross-platform spread, the firm’s previous slideout […]
Financial institutions are exploring innovative ways to simplify everyday banking tasks with voice technology supplemented by artificial intelligence, such as USAA’s Siri-based account search. At some firms, voice recognition technology reflects an advancement toward biometric banking while at others voice commands offer the potential for mobile banking to become entirely hands free. Identifying customers through […]
Despite already providing a comprehensive person-to-person transfer service with many loyal users, Venmo is continuing to improve its offerings by facilitating same-day transfers as well as physical and online payments. These features are already offered in some form by its parent company, PayPal, but were recently implemented in a way tailored to Venmo users. Such […]
Last week, fintech startup Petal announced the results of its Series A funding round for its credit card product aimed at the credit invisible, consumers who have trouble securing a credit card due to no or limited credit history. Now with $13 million in financing, the product aims to help those who appear to be […]