Online-Only Banks Experience Decrease in Customer Satisfaction
A recent analysis by J.D. Power reveals an overall decline in customer satisfaction for online-only banks due to issues with customer service and efficient problem resolution.
J.D. Power: National Banks’ Deposits Vulnerable to Higher-Rate Offers
Customer satisfaction with national banks slightly improved this year, but a J.D. Power study found that depositors are attracted to higher interest rates at investment or wealth management and digital-only banks.
Liberty Bank Reports Successful Digital Banking Platform Conversion
Middletown-based Liberty Bank has launched a new digital banking platform through Texas-based Alkami, which provides cloud-based digital banking services to U.S.-based banks and credit unions.
Survey Shows Transformation of Business, Consumer Banking
Almost three-quarters of consumers and businesses said the pandemic has permanently changed how they interact with financial institutions, according to a recent survey by Citizens Bank.
Digital Dominates Deposits at BofA
Bank of America’s customers now mostly use digital channels rather than teller lines to make deposits as the bank continues to see growth in digital engagement.
TransUnion: Financial Services Fraud Increased This Year
The financial services industry has seen digital fraud attempts increase in 2021 compared to last year as more consumers go online for banking and other financial transactions, according to new research from TransUnion.
Cromwell-Based Payveris Saw Accelerated Growth During Pandemic
Cromwell-based PayverisCU, a wholly owned registered credit union service organization (CUSO) of Payveris, has added 27 financial institutions to is digital platform in the past 12 months, the financial technology firm said in a statement last week.
Liberty Bank Selects New Digital Banking Platform
Middletown-based Liberty Bank has selected a new provider for its digital banking platform. The bank has signed a long-term contract with Alkami Technology Inc.
KeyBank, Laurel Road Launch Digital Bank for Doctors
Laurel Road, a brand of KeyBank, has launched a digital bank for physicians and dentists.
People’s United Announces Digitally-Focused ‘Transformation Office’
Bridgeport-based People’s United Bank announced it was establishing a “Business Transformation Office” that would work to build partnerships with fintechs and support digital product efforts at the $61 billion-asset bank, which maintains 173 branches in Massachusetts.
Consumer Lending Satisfaction Hinges on Trust, Ease of Access, J.D. Power Finds
A perfect storm of record-high levels of unemployment, record low interest rates and increased reliance on digital interactions is putting consumer lenders to the test like never before.
BCG: Coronavirus Could Transform Branch Usage
The coronavirus pandemic is on a path to radically change the way consumers interact with their banks, with 24 percent of customers planning to use branches less, or stop visiting completely, according to a new study.
New Report Urges Banks to Fight New Competitors with Scale
Grow, if you know what’s good for you – that’s one of the key takeaways from a new Boston Consulting Group report on the challenges community banks face from “digital powerhouses” intent on encroaching on their customer base.
Mastercard Unveils Fintech Initiative Aimed at Digital Banking
Mastercard is upping its ante in the fintech arena.
