Shifting consumer behavior As has been evident for the past decade, Asian consumers have flocked to digital technologies, with adoption rates for some devices, especially mobile phones, outstripping Western rates. ATM usage has skyrocketed in Asia, and acr...
The number of digital banking consumers is steadily rising in the United States, which reflects that the adoption rate is growing each passing year.(Source: Statista)#7. In 2001, Bank of America became the first bank in the US that acquired more than 3 million digital banking users...
In the past five years, widespread smartphone adoption, platform ecosystems, and the rise of e-commerce has driven demand for digital-first platforms. Governments across Southeast Asia are now working on policies and frameworks to regulate the new banking landscape. Singapore, however, has been lead...
Digital banks in the worldwide banking market are rapidly gaining popularity, with countries like the United Kingdom leading the way in terms of adoption and innovation. Key regions:Singapore,Germany,United Kingdom,South Korea,China in-scope ...
customers, especially millennials and Gen Z, who are more likely to use digital channels for their financial transactions. Modern digital banks have been able to capitalize on this trend by offering simple and convenient mobile and online banking services that cater to the needs of tech-savvy ...
Digital banking, in particular mobile banking, has taken flight in Hong Kong and ChinaMainlandsince the start of the Covid-19 pandemic. To remain competitive and to win over customers, retails banks must adopt an omnichannel banking strategy focusing on customer experience, says Bain & Company....
As consumer use of digital banking accelerates in Asia–Pacific, the region’s emerging markets have become the hub of banking innovation for digital business models. Emerging markets leap forward in digital banking innovation and adoption (21 pages) Consumer use of di...
The emergence of neobanks and challenger banks is a disruptive trend in the financial sector. These digital-only banks, free from the constraints of traditional banking infrastructure, offer streamlined, user-friendly banking experiences. They often provide lower fees, higher interest rates, and innova...
Incumbent banks that hope to excel in digital banking can model their approach on leading tech companies, says Kunal Galav, Mambu’s global head of partnership development and advisory.
Banking distribution needs to account for the evolving interdependencies between channels. Accelerating digital and upgrading the physical experience to “phygital” offers a viable solution.