Monday, April 6, 2026

Bank of America Clients Increasing Digital Engagement

Mon, 01 February 2021  |  banking digital 

Bank of America saw record levels of digital engagement among new and existing clients last year. The company’s 39 million digital clients, including 31 million active mobile users, increasingly adopted key features within its mobile and online platforms – including mobile check deposits and digital lending applications, Erica®, Zelle®, Life Plan® and CashPro®.

The financial services company has seen a surge in digital engagement. Today, approximately 70% of Bank of America consumer client households and small business clients and 77% wealth management client households... Read More

Status Money Launches Virtual Coaching Starting at $3 per Month

Mon, 01 February 2021  |  financial advice 

Status Money announced the launch of its financial coaching service that connects individual members with certified financial professionals via video conference. Access to professional financial guidance and advice has never been more important, with 40% of US investors in a recent survey saying they need more advice and 19.1 million unemployed or under-employed Americans struggling to navigate the economic fallout of the pandemic.

“It’s no surprise that people feel starved for good financial advice – managing money is hard enough, but doing it alone and during a pandemic... Read More

Digital Banking Grows During Covid-19

Mon, 01 February 2021  |  banking digital 

Through the ongoing Covid-19 pandemic, as bank branch visits have dropped, customers have turned to digital channels for all kinds of transactions, including the purchasing of banking products. This change has led to an increase in hidden defection of consumers, who are now increasingly buying products from banks and providers other than their primary bank. Now, depending on the country surveyed, between 25 percent and 51 percent of all banking product purchases are going to banks that aren't the surveyed customers' primary bank. These are among the findings included in Bain & Company's l... Read More

One-Third of American Workers Don’t Understand the Benefits They Selected During Open Enrollment

Fri, 29 January 2021  |  benefits workplace 

Working Americans will increasingly be turning to their employers in 2021 for education, support and guidance to better understand their workplace benefit, based on the results of a new survey from Voya Financial. Specifically, the results show 35% of employed individuals report not fully understanding any of the employee benefits they enrolled in during their most recent open enrollment period. This rises among younger workers — with more than half (54%) of millennials reporting they don’t understand their benefit selections.

“Last year, the COVID-19 pandemic taught many ... Read More

Young Adults Are on an Uncertain Road to Retirement

Thu, 28 January 2021  |  millennial retirement 

With increasing strain on social security systems globally and the economic effects of the pandemic intensifying, young adults are setting out on an uncertain journey of work and money. They are expecting to self-fund an even greater proportion of their retirement income than previous generations. However, few young adult workers (age 20 to 29) think they are on course to achieve their retirement income needs (20 percent global, 26 percent U.S.), according to a new report, Read More

Women Report Pandemic Has Impacted Ability To Retire

Thu, 28 January 2021  |  pandemic women retirement 

As the COVID-19 pandemic wears on, women investors are more concerned about their finances and feel less prepared than they've been in years. Nearly three in four (72%) women with investable assets of $100,000 or more said the pandemic has negatively impacted their ability to retire. These are among the latest findings from Nationwide's sixth annual Advisor Authority study, powered by the Nationwide Retirement Institute®, reflecting the responses of more than 2,500 individual investors, advisors and financial professionals.

Women investors in 2020 reported significantly higher ... Read More