2024-04-09 14:00:00 | banking consumers small business
... k fraud, a figure surpassing the combined populations of America's five largest cities. Check Writing: A Generational Surprise Contrary to expectations that digital-native generations might eschew traditional banking methods, the survey found 61% of Americans still embrace check writing, with surprising participation from younger demographics: 59% among 18 – 24 years old 57% among 25 – 34 years old 60% among 35 – 44 years old 48% among 45 – 54 years old 61% among 55 – 64 years old 77% among those 65 and older The Real Cost of Check Fraud Check fraud ...
2024-04-09 09:25:00 | cryptocurrency demographics real estate
... s 27-42) and Gen Z (ages 18-26) are diversifying their financial portfolios in unconventional ways. Cryptocurrency emerges as a popular asset, with 21% of these younger cohorts investing in digital currencies, nearly matching the 20% who own real estate. This trend underscores the changing perceptions of investment and asset ownership among younger Americans, who are also embracing financial "hacks" and strategies popularized through social media.The survey, conducted online by YouGov for Policygenius from October 16 through 19, 2023, polled 4,063 U.S. adults and revealed that younger generati...
... from 9,951 investors who work directly with a dedicated financial advisor or team of advisors. The study was fielded from January 2023 through January 2024....
2024-03-21 | banking brokerage retirement technology
... ...
2024-03-19 | financial planning retirement
... demand to increase, especially for tools involving retirement income."Plan sponsors can meet this need by providing digital services and financial wellness programs that address the impending needs of pre-retirees and families in retirement. These types of solutions are not only valued by participants but could also be a catalyst for driving better retirement outcomes.The insights from the report are based on T. Rowe Price's annual Retirement Savings and Spending study, which surveys a national representative group of 401(k) participants. The report with more details on the importance of...
... ...
2024-03-12 08:42:12 | retirement
... g when to retire vary by generation though; Gen Z and Millennials cite becoming debt-free or reaching career goals as top factors; whereas Boomers say they’ll retire when they emotionally ‘feel’ ready. One-in-10 Gen X respondents have not yet determined when they plan to retire, although they are continuing to save at Fidelity’s recommended savings rate of 15% of their income (this includes employer and employee contributions). Encouragingly, younger generations are currently saving an even higher percentage of their income for retirement, with Millennials saving 20% and Gen Z saving 2...
2024-03-08 | technology
... ed Bank of America patents, indicating the company's significant impact on innovation and technology. ...
2024-02-15 | consumers economy
... merous signs of financial stress, expectations that their financial health will improve far exceed that of consumers from other demographics, according to the results of a new survey by Achieve, a digital finance company.Achieve surveyed Black Americans to understand the key financial pain points and goals facing this community and found that inflation and debt make it difficult for many to meet their financial goals. Black consumers reported having limited funds in their checking and savings accounts and many had expectations that the cost of staples will keep rising.However, many Black Ameri...
2024-02-09 | high net worth wealth management
... e well-informed decisions promptly. These digital solutions enhance convenience and accessibility, allowing clients to oversee their investments and interact with advisors from any location.Sustainable and Impact InvestingA growing segment of high net worth individuals seeks to ensure their investments reflect their ethical values, propelling the demand for sustainable and impact investing. Firms like UBS and Merrill Lynch have responded by introducing investment products and advisory services geared towards creating environmental and social impacts without compromising financial returns. Inve...
2023-06-01 12:00:00 | banking credit cards technology
... ...
2023-06-01 15:00:00 | asset management
... raging third-party operating models in various ways:Moving significant, non-differentiating parts of the tech stack to an end-to-end platform, supported by the emergence of vertically integrated platform providers that cover substantial parts of the value chain.Outsourcing middle-office and operations functions to gain operating leverage and focus more internal resources on core activities. Wealth and asset managers see benefits ranging from serving more end clients to operating direct-to-consumer models at low cost. The report indicates the potential to realize operating cost savings of up to...
2023-06-01 | wealth management hnw
... MethodologyThe World Wealth Report 2023 covers 71 markets, accounting for more than 98% of global gross national income and 99% of world stock market capitalization. The Capgemini 2023 Global HNW Insights Survey questioned 3,171 HNWIs across 23 major wealth markets in North America, Latin America, Europe, and the Asia-Pacific region. The Capgemini 2023 Global Affluent Insights Survey questioned 3,203 Affluents across 11 major wealth markets in North America, Europe, and Asia-Pacific. To bring in the industry perspective, the 2023 Wealth Management Executive Survey covers more than 90 response...
2023-05-24 10:23:10 | investing
... of information sources as they do so. It is vital to understand their investing decisions and to provide them with the educational tools to prepare for those decisions."Key findings from the research include:More of Gen Z are investing than not: Canada has the highest proportion of Gen Zs who invest, with nearly three in four (74%) saying they own at least one investment, compared to more than one in two in China (57%) and the U.S. (56%), and 49% in the UK.Crypto is a popular investment choice among Gen Z investors: More than two in five (44%) U.S. Gen Z investors first started out i...
2022-07-28 | financial advice
... with a financial advisor, this percentage jumps to 76 percent. What is obvious is that our sector needs to provide a new digital human experience that is a well-balanced mix of human-centric support from dependable financial professionals, integrated technology engagement via financial applications, and embedded finance, continued Ms. Dugan. "We have a fantastic opportunity to learn what investors of all ages genuinely need, want, and expect will be delivered to help guide them on their journey toward financial wellbeing - allowing them to attain their full financial potential." Source...
2022-05-05 12:00:00 | consumers payments
... mple matched those of the U.S. general population. Age groups referenced in the survey are Gen Z (18–24), millennials (25–40), Gen X (41–56), boomers (57–75) and seniors (76+). About Fiserv...
2022-05-04 12:00:01 | advice demographics
... hough 57% of Millennials say they prefer to receive financial advice through digital or online channels, they are finding reasons to opt for working with a person. When it comes to making investment decisions, the survey found: 42% of Millennials don’t trust algorithms or artificial intelligence, including 51% of younger Millennials (those between the ages of 25 and 32) and 39% of those who are older. 92% say they trust their financial advisor. Eighty-two percent of Millennials consider time spent with an advisor important to their long-term financial success. They cite the...
2022-04-26 13:00:00 | investing pandemic
... alue for fees; people; and problem resolution. The study is based on responses from 4,888 investors who make all their investment decisions without the counsel of a full-service dedicated financial advisor, and was fielded from November 2021 through January 2022. Source: J.D. Power ...
2022-04-26 12:10:00 | crypto retirement
... can expect additional updates in the coming months as Fidelity continues to build out its digital asset platform, leveraging blockchain technology and expanding use cases beyond bitcoin. Source: Fidelity Investments...
2022-04-25 14:00:00 | demographics financial planning retirement
... ce that with more traditional investments that can provide you with a reliable source of income when you don’t have a paycheck. And finally, you prepare for retirement to enjoy it, but it’s important to have a solid income and distribution strategy so you don’t risk running out of money in retirement.” Some key considerations for Millennials as they think about and plan for retirement: Picture retirement as a target financial state, not a date. Retirement isn’t really a switch you flip at a certain age anymore – it’s a financial state that allows for the flexibility to ma...
2022-04-25 12:00:02 | investing retirement
... this includes setting an equity goal that will allow you to maintain your lifestyle after retirement.” Source: Personal Capital...
2022-04-25 10:00:00 | financial planning
... raging estate planning software (52%) and online wealth and/or estate planning platforms (48%), demonstrating that a majority of estate planning professionals are going digital to efficiently support their clients' needs. Designation of Beneficiaries Emerges as the Leading Cause of Family Conflict As family dynamics become increasingly complicated year-over-year, 34% of respondents cited the designation of beneficiaries as the leading cause of family conflict in 2022, up from 17% in 2021 and 14% in 2020. To help mitigate family conflicts, 84% of estate planners have encouraged clients...
2021-12-21 09:22:18 | boomers technology
... ffer: some use technology for work, others to stay in touch with family and friends, and others to allow or help them grow old on the spot. At the same time, we are also aware of the digital divide, where lack of access can also mean inability to access technology and its benefits. " Older people continue to incorporate technology into their lives. Some of the technological behaviors that emerged during the pandemic appear to persist, such as video chatting, online shopping, ordering groceries, banking and healthcare, with older people making more online purchases and financial transac...
2021-10-21 12:00:10 | credit demographics
... of their accounts in one place, and digitally pay from whichever account they choose. More than half (59%) want the ability to schedule all of their split payments on a single day of their choosing. Secure experiences: The study found that security is more important to Gen Z than any other generation. Nearly nine in 10 (86%) want protection from fraudulent websites, over eight in 10 (83%) want the ability to lock their account if they expect fraud, and more than three in four (76%) want two-step authentication for the payment methods they use. "Our study depicts a cautious, responsible...
2021-10-14 12:00:44 | banking
... ional and Non-Traditional Financial Services for Similar Activities Although cash access is a popular use case for primary accounts (60%), when you look at usage across primary and secondary accounts, consumers consistently use traditional and non-traditional accounts for: paying bills, shopping online, savings and depositing wages Security and Privacy Are Paramount Consumer Concerns While lower fees and convenience are priorities for 91% of all respondents, their importance ranks slightly lower than security of accounts and funds (96%) and privacy of personal information (93%) ...
2021-10-14 12:00:00 | banking demographics
... y established with their customers. This includes offering competitive and valuable products and services, and keeping the human touch even as interactions move into digital channels." Key findings include: Generational Differences in Banking Habits: Only 47% of Gen Z respondents claimed to have an account with a traditional bank, credit union, neobank or technology company. Attitudes Toward Financial Apps: More than 80% of Gen Z and millenials are using a money transfer app. Customer Support Preferences: 53% of Gen Z respondents and 42% of millennials wanted to be able to find the...
2021-09-09 | retirement
... concern, and that's greater than the share concerned about the cost of healthcare (74%), according to a new poll released today by Kiplinger's Personal Finance magazine and industry-leading digital wealth management company, Personal Capital, an Empower Company. Rounding out respondents' top five financial concerns about the future were the financial strength of Social Security (71%) and Medicare (67%), and the possibility of an impending recession (62%). The national poll was conducted between June 17 and June 24, 2021. Additional survey findings can be found here. "It's clear that some...
2021-08-10 09:08:19 | workplace
... ced we will not return to our offices. We are listening to our employees, who want more balance and flexibility. Our growth since March of 2020 proves our digital-first hybrid model was built for virtual delivery. We want everyone, both clients and employees, to know we are listening and responding to your wants and needs," said Jay Shah, President of Personal Capital. The pandemic has forced many to reevaluate their lives and priorities from their pre-COVID-19 days, so it comes at no surprise that half of survey respondents say that work isn't as important to them as it was before the pandem...
2021-06-09 12:00:00 | consumers digital pandemic
... al behaviors, including online mobile payment services, contactless store payments and shopping and buying online from local providers who offer home delivery or curbside pickup. These mobile solutions were available prior to COVID-19, but the pandemic further highlighted their value. Using a mobile app or website to order food from a local provider grew from 36% to 56% during COVID-19. Using a mobile app or website to order a product and then pick it up at a local store grew from 31% to 51%. Contactless payments jumped from 28% to 46% during the pandemic; using mobile payments to shop on...
2021-06-02 12:00:13 | banking
... nimum balance requirements, no monthly maintenance fees, no ACH transfer fee, and a large nationwide, no-fee ATM network with over 43,000 Allpoint ATMs. Source: Ally Bank...
2021-05-12 12:00:05 | employment workplace
... ...
2021-05-04 | charitable giving
... s became increasingly virtual due to the COVID-19 crisis, donors turned to digital tools to engage in philanthropy. Nearly six-in-ten donors donated on a charity’s website in 2020, and 18 percent said they did this more often. Priority shift: Donors believe that the most important challenges for society to solve relate to basic human needs. In 2021, 40 percent of donors ranked hunger as one of the top three challenges facing the world—up from 34 percent before the pandemic. While donors already considered hunger our greatest challenge before the pandemic, widespread food insecurity made...
2021-04-29 12:00:00 | consumers
... ...
2021-04-28 12:00:10 | workplace
... rates: $1,782 per month "Tucked peacefully in the Appalachian mountains, Asheville is truly a hidden gem. From live bluegrass at the Orange Peel to culinary masterpieces at Tupelo Honey, and adventures along the Blue Ridge Parkway, it's easy to see why people are drawn to this destination," says Lewis. The median list price for relevant rentals in Asheville rose 8% year-over-year, signaling increasing demand in the area. 9. Las Vegas, Nevada Typical rental rates: $1,275 per month Las Vegas boasts the second highest affordability index score out of all the other metros on our list...
2021-04-27 09:18:23 | investing
... nd services; value for fees; people; and problem resolution. The 2021 study is based on responses from 4,895 investors who make all their investment decisions without the counsel of a full-service dedicated financial advisor. The study was fielded from December 2020 through February 2021. ...
2021-04-21 12:00:00 | banking
... ...
2021-04-20 12:00:06 | investing payments
... ets are a strategic part of a well-rounded portfolio and providing crypto education will help remove barriers to entry." Source: Gemini...
2021-04-19 12:00:10 | millennials retirement
... y solutions tied for their number-three factor. Millennials were more likely to prioritize increased use of mobile technology (19%) than Gen-Xers (9%) and far more likely than Boomers (4%). Millennials were also far more likely to prioritize enhancements to their advisor's website or client portal (19%) than Gen-Xers (7%) or Boomers (3%). Multi-generational teams, including younger advisors, was another influential factor to work with a financial advisor for more Millennials (17%) than Gen-Xers (11%) or Boomers (2%). Likewise, Millennials were more likely to cite additional strategies for cha...
2021-04-19 12:00:01 | ESG investing
... s of engaging with an asset manager. "Forced into a fully remote environment just over a year ago, many advisors dramatically accelerated their digital journey to maintain and grow their business. Today's advisors are actively focused on business development and client-facing activities, and are increasingly using model portfolios as part of their practice to allow for increased efficiency in a post-COVID world," added Schiffman. "Advisors were not able to engage with wholesalers in the same way they did before the pandemic and were initially hesitant to engage virtually. Now, as the COVID...
2021-04-19 12:00:00 | demographics media
... ers will do whatever they can to avoid advertising. Forty percent of U.S. consumers note that they would prefer to pay $12 a month for a streaming video service with no ads, versus 60% of consumers who would accept some ads for a reduction in monthly subscription costs. Forty-five percent of consumers agreed they would rather pay than have ads on their music streaming service. For Millennials, 67% say they would rather pay. For those that subscribe to a gaming service, adding or increasing the amount of advertising are the top reasons they would most likely cancel or stop using a paid se...
2021-04-15 12:10:00 | investing
... . The study is based on responses from 4,392 investors who make some or all of their investment decisions with a financial advisor. The study was fielded from December 2020 through February 2021. Source: J.D. Power...
2021-04-15 12:00:05 | banking
... Trends by generation include: The fastest way to capture the loyalty of Gen Z is through around-the-clock customer service. When asked how their digital apps can be improved, access to 24/7 customer service was the number one response. 44% percent of Gen Z respondents rank debit card as their number one preferred payment choice, followed by cash at 28%. Mobile Payments ranked last among all generations. 75% percent of Millennials note they would switch financial services organizations for a better mobile experience, marking a 28% increase year-over-year and the highest of any ...
2021-04-14 12:02:02 | consumers luxury
... ...
2021-04-14 12:01:00 | demographics investing
... Future of Finance" explores how death doulas might join forces with financial planners to facilitate proactive end-of-life planning, how financial therapy could boost brick-and-mortar foot traffic, and how haptics can help prevent overspending. "We're in the midst of a cultural reprioritization. As consumers ditch old approaches, finance will be forced to evolve from the dry, hush-hush, one-size-fits-all, male-dominated industry that we all know into a more positive and brighter build—one that is more candid, colorful, human-centric, values-driven, inclusive, and even fun. It's a fresh start...
... il amid an increase in COVID-19 cases, limited consumers' willingness to spend. Asia-Pacific (AP): Consumer confidence continued to improve in 10 of 14 AP markets, not including China, as effective containment measures, fiscal stimulus packages in both advanced and emerging economies in the region, and a comparative advantage in exports of goods and technology helped boost regional sentiment. With a score of 118, AP was the region with the highest consumer confidence. The Q4 2020 survey did not include China, but the Q1 2021 reading of sentiment there (121) marked a dramatic improveme...
2021-04-13 12:00:01 | investing pandemic
... owerful digital offering and professional guidance. To learn more about E*TRADE’s trading and investing platforms and tools, visit etrade.com. Referenced Data When it comes to the current market, are you? Q2'21 Q1'21 Q4'20 Q3'20 Q2'20 Q1'20 Bullish 61% 57% 52% 51% 38% 61% Bearish 39% 43% 48% 49% 62% 39% What grade would you give the current state of the U.S. economy right now? Q2'21 ...
2021-04-08 14:00:00 | retail travel
... e 'post-COVID-19 pandemic normal,' businesses should accelerate their digital evolution with AI and Cloud based solutions to help remain competitive. Investing in hybrid physical and digital experiences can help provide a more personalized experience." Noteworthy survey findings include: Most Global Consumers Surveyed are Ready to Return to in-store shopping once VaccinatedAccording to the study, the tides may be turning for the ailing retail industry, with global consumers surveyed indicating a strong desire, once they are vaccinated, to return to malls and shopping centers.While many surv...
... mental bodies, and the public to further their understanding of crypto’s benefits for storing, creating, and transferring value worldwide and giving people greater control of their digital lives. Paradigm, the organizer of the new alliance, was founded in 2018 and is a crypto-focused investment firm based in San Francisco. The firm invests in crypto assets and businesses from the earliest stages of idea formation through maturity. Source: Crypto Council for Innovation...
2021-04-01 08:20:22 | payments
... to know where their card is stored at all times. Chase’s digital tools provide a clearer picture of overall finances and a foundational understanding of the short and long-term impact of recurring payments. Source: Chase...
2021-03-31 14:00:00 | pandemic spending
... ...
2021-03-31 12:00:00 | workplace
... ...
2021-03-30 | workplace employment
... ...
... , president and CEO, PayPal. "Enabling cryptocurrencies to make purchases at businesses around the world is the next chapter in driving the ubiquity and mass acceptance of digital currencies." With Checkout with Crypto, cryptocurrency is another way for customers to pay and businesses to get paid, adding enhanced utility for cryptocurrency holders.Introducing a New Way for Businesses to Get PaidCheckout with Crypto offers a business's customers a way to checkout with cryptocurrency, without any additional integrations or fees required by the business. All transactions are settled in USD and c...
2021-03-24 12:00:00 | pandemic retirement
... “For those with a longer time horizon, it may be comforting to know that putting a plan in place may be easier than you think, and will give you the perspective to focus on what you need to do to achieve your goals,” said Ridolfi. “If you are closer to retirement, the good news is, it’s never too late to start planning for your future, regardless of age or income. The study findings clearly show that creating a plan for retirement can lead to a greater sense of confidence and control and ultimately give people a better feeling about where they stand at any age.” Extra Credit: C...
2021-03-22 09:08:19 | workplace
... o compete for the best and most diverse talent "During this pandemic we've observed a swift acceleration of certain pre-COVID trends. But perhaps one of the most exciting trends is this rise in remote work," said Karin Kimbrough, chief economist, LinkedIn. "As opportunity is democratized with remote work and talent movement, we'll see a spread of skills across the country, and this is the time for business leaders to take the opportunity to access different skills and talent not previously available to them." Source: Microsoft Corporation...
2021-03-18 15:00:01 | pandemic seniors
... rom all regions of the United States could answer from the safety of their homes. All participants were selected randomly with age and homeownership being the only qualifying factors. Source: AAG...
2021-03-11 | pandemic technology
... uture major milestone events virtually 8% plan to attend future major life events virtually. New technology skills acquired and expected to be used post-COVID to connect, eat and stay healthy: 64% of respondents learned to do something with technology for the first time. 57% used video conferencing to socialize, work or communicate with family 23% used a telehealth service 19% ordered groceries online 16% read a menu with a QR code Post-COVID, 81% of respondents plan to continue using the technology they’ve learned to: Use video conferenci...
... VPN to secure their connection while using financial applications 66% of people feel secure about their accounts/money when using digital wallet apps, 63% of people feel secure about budgeting apps, and 59% of people feel secure about their accounts/money when using trading apps Before using the services of a FinTech application, just 31% of people read the terms and conditions, 30% read the privacy policy, and 20% look for the encryption policy The survey also found that 50% of 35-44-year-olds have become involved in cryptocurrencies since the pandemic, higher than any other age g...
2021-03-09 08:11:04 | technology investing
... 0, and now serves over 26,000 wealth management clients. Source: Personal Capital...
2021-03-09 | technology
... about their future." In 2020, Edward Jones announced a $500 million, multi-year investment into its digital transformation and the roll-out of new financial advisor tools to work with clients and prospective clients. The firm also ranked No. 5 in KPMG's U.S. customer experience excellent report. Source: Edward Jones...
2021-02-26 | real estate
... ut also new anxieties." To view the full report, including charts and methodology, please visit: https://www.redfin.com/news/housing-market-update-polar-freeze/ Source: Redfin...
2021-02-23 15:00:00 | advice banking
... agree personalized proactive services are an important feature for their primary bank to offer 4) Customers are willing to share personal data in exchange for personalized proactive services. 61% of consumers are motivated to let go of their reservations around privacy and security in exchange for managing their individual spending budget and getting online individual advice to save money. For example, customers said they would: 41% share online retail purchases 37% share geo location details 36% share airline programs information 36% share credit card information ...
... ne 2020, KeyBank's Digitally Active clients signed on (to either desktop or mobile) an average of 20.2 times per month. Respondents plan to continue using digital tools to conduct the following transactions going forward, compared to before the pandemic: Insurance enrollment (41% vs. 34%) Creating/updating a financial plan (40% vs. 33%) Creating/updating an estate plan (27% vs. 20%) Source: KeyBank...
... ...
2021-02-01 14:00:00 | banking
... h them. Consumers are largely becoming aware of digital banks via digital channels, including online (40%) and via social (34%). Though digital banks are still employing traditional advertising channels like billboards and magazines, these channels have been found to be among the least effective. Source: MetaBank N.A....
2021-02-01 12:00:00 | banking digital
... lf (58%) of all Erica interactions to date took place in 2020 alone, with 135 million client requests completed last year. The bank is also offering financial planning as a digital experience. Life Plan, is one of the most rapidly-adopted offerings in the company’s history. With Life Plan, clients can set and track near- and long-term goals based on their life priorities, and better understand and act on steps toward achieving them. Since launching nationally in the fall of 2020, more than 2.3 million Life Plans have been created by clients within the Bank of America mobile app and onlin...
2021-02-01 09:22:18 | banking digital
... nger customers, who put an even greater emphasis on digital tools, convenience, branding and security." If current trends hold, hidden defection will likely intensify in many countries due to the spread of regulations, which will make consumer data portable and thus encourage competition. The UK, which has one of the most competitive banking markets in the world, has the highest defection rate of the 11 countries surveyed. As consumer-friendly, "open-banking" types of regulation take hold in more countries, competition in those markets could intensify as well. "We saw that while some res...
2021-01-29 09:30:30 | benefits workplace
... innovative digital tools to help their employees understand and maximize their workplace benefits,” explained Frend. “At Voya, we recently launched a new HSA digital assistant — myHealthMoney — to help employees plan for future health-care expenses. In 2021, Voya is working to enhance the capabilities of this powerful tool to help Americans make informed benefits decisions and manage their income across competing health, savings and spending demands.” Source: Voya Financial...
2021-01-26 14:00:00 | insurance
... who leads the Insurance industry group for Accenture Interactive. "Insurers need to master a delicate balance, offering simple, self-service digital options as well as the human touch for more complex issues that require empathy or nuanced advice. In order to embrace long-term change, it's critical for insurers to empower their people with the right insights and technologies to better serve customers and increase trust." Read the full report at: https://www.accenture.com/us-en/insights/insurance/guide-insurance-customers-safety-well-being Source: Accenture...
2021-01-25 12:00:00 | workplace demographics employment
... accomplished by all staff members. That includes making manual, paper-based and repetitive work more streamlined and digital with easy-to-use and powerful automation software. Ensuring employees have effective office equipment, like good computers, desktop monitors and/or standup desks is also important. Looking forward, to attract, develop, and retain strong talent HR policies must also provide strong workplace and schedule flexibility and competitive compensation and rewards for important roles and all top performers." HR-related highlights from the study include: Benefits of remote ...
2021-01-25 09:21:00 | transportation automation
... s-on activities that are a lot more fun and informative than filling out paperwork and waiting. Still, the future is digital, and the process is moving online, right down to negotiating the final purchase price. In 2017, research by Cox Automotive showed that 25% of buyers wanted to finalize the vehicle price online. By 2020, that number had jumped to near 40%. Dealers are taking notice: 80% of franchised dealers surveyed in the DoEER study indicated they plan to offer even more parts of the purchase process online in the next 1-2 years. Source: Cox Automotive...
2021-01-14 10:00:00 | retirement spending
... RA or 401(k) during the pandemic, and nearly two-thirds (63%) used those retirement savings to cover basic living expenses, according to a new survey from Kiplinger's Personal Finance magazine and digital wealth management company, Personal Capital. The national poll, which was conducted from November 4-10, 2020, also found that the amounts people withdrew or borrowed were significant. Thirty-two percent (32%) of respondents said they withdrew $75,000 or more from a retirement account, while 58% of those who took loans borrowed between $50,000 and $100,000. Additionally, more than a third (...
2021-01-13 08:00:00 | healthcare payments
... patrick, president of North America at Mastercard. “We are proud to be teaming up with Walgreens and Synchrony to further connect their customers to the digital economy and enhance the consumer health and pharmacy experience through our differentiated technology and established role in healthcare.” The new Walgreens credit cards are slated to be available in the second half of this year. Source: Walgreens...
2021-01-12 11:01:00 | payments
... elves from fraud, with UAE the most likely at 90%. Nearly all UAE consumers (96%, compared to 62% globally) are also taking steps to keep their credit card clean, making them the most likely of all markets surveyed to do so. Source: Visa Inc. ...
2021-01-11 18:00:00 | pandemic spending
... ght's sleep. The top three responses for feeling more financially resilient during the pandemic are getting enough sleep (38%), having access to financial information (36%) and using digital banking tools (35%). When asked if they feel a greater sense of financial confidence as they approached the end of 2020, compared to the beginning of the year, 53% of respondents felt that was true, but confidence comes with a generational divide. Among Millennials and Gen Z (those age 35 and under), 60% felt a greater sense of financial confidence. Meanwhile, among those age 50 and over, 51% did not fe...
2021-01-10 10:00:00 | transportation
... The digital retail space continuously evolves but the pandemic forced many manufacturers to speed up the process,” said Jon Sundberg, senior manager of digital solutions at J.D. Power. “Websites are moving beyond the traditional research tools such as images and videos into a new world of allowing customers to go through the full purchase process online. Continuous updating beyond the basic research capabilities to accommodating interconnected systems which allow shoppers to purchase vehicles fully online will prove to be beneficial to shoppers and manufacturers alike.” The J.D. Power...
2021-01-07 12:00:00 | financial literacy
... s selecting each category, using the lowest number in each range. "Given the complexity of today's financial landscape, with all the changes to the tax code and the rise of digital currencies, it's become critical to make sure people gain the financial knowledge they need," comments Vince Shorb, CEO of the NFEC. "These survey results demonstrate that financial education is more important now than ever before. Improving financial knowledge can empower individuals and the Country." Deficits in personal finance capability increase people's risk of incurring bank fees, facing high interest r...
2020-12-31 | insurance fintech insurtech
... oss multiple platforms, citing the hassle-free digital experience with lightning-fast claim payments, best-in-class customer service, and an unconflicted business model. Source: Lemonade press release and Investor Relations documents ...
2020-12-28 | housing
... ated technology to search, find, apply for, and lease a home all digitally in a safer, easier, end-to-end online transaction. Nearly half (46%) of renters agree that they wish more listings offered virtual toursii -- since March, multifamily rental listings with a Zillow 3D Home tour have attracted 18% more visitors than those without on Zillowiii -- and 46% of renters surveyed would prefer to sign a lease onlineii. A Zillow survey finds a vast majority of Zillow Premier Agents (72%) expect to continue using these virtual tools after the current coronavirus outbreak ends. And the pandemic ...
2020-12-08 | insurance europe fintech insurtech
... and is listed on the New York Stock Exchange under the ticker LMND. Consumers rate Lemonade #1 for its insurance products across multiple platforms, citing the hassle-free digital experience with lightning-fast claim payments, best-in-class customer service, and an unconflicted business model. “Home insurance is often legally required in France, which makes it a compelling opportunity for Lemonade’s next European country launch,” said Daniel Schreiber, Lemonade CEO and co-founder. “While the French insurance market is one of the most developed globally, we believe that Lemonade...
News and insights about consumer and demographic financial trends
Economic Uncertainty and Inflation Impact Retirement Prospects for Americans
AARP Survey Reveals Alarming Retirement Savings Trends
Hispanic Consumers More Optimistic About Finances
Homeowners Facing Increasing Insurance Rates
U.S. Foreclosures Increase In First Quarter
Consumers Perceive Less Buying Power Despite Lower Inflation
Consumer Price Index - March 2024
Americans Fear Running Out of Money More Than Death, New Study Finds
Consumers and Small Businesses Still Grapple with Persistent Check Fraud
Financial Education Gap Leaves Middle-Income Americans Seeking More