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Study: Americans Uneasy about Finances Provide Opportunity for Financial Service Providers

One-fourth of Americans say they have too much debt, with 96 percent of them reporting they are financially stressed, according to a survey by the Center for Financial Services Innovation to gauge Americans’ financial well-being. While those statistics are bleak, they should signal an opportunity for banks, credit unions, fintechs and other companies to provide products, services and guidance to improve consumers’ financial stability, according to Jennifer Tescher, founder and CEO of CFSI.


Study: Apple Wallet Users Love Sharing Digital Coupons, Loyalty Cards

A new report indicates that retailers and brands have a powerful channel to distribute digital coupons and loyalty cards via mobile wallets: wallet users themselves. An analysis of Apple Wallet users by mobile engagement specialist Urban Airship found that every digital coupon or loyalty card a user installed on the wallet was shared to an average of 3.3 other mobile devices.


Report: How Banks Can Beat the Fintech Threat

Facing disruption from fintech providers, traditional banks must embrace APIs and the open-source model to avoid losing their place at the center of consumers’ financial lives, a new report warns. Capgemini’s 2017 World Retail Banking Report polled thousands of retail banking customers around the world to gauge how the rise of fintech-based financial services has changed the game when it comes to banking.


Mastercard, Oxford Plan Helps Banks Breathe Life into Biometrics

With increasing global smartphone penetration and a willing consumer base, financial institutions recognize the potential of biometrics to offer more convenience and security to their customers—but a lack of familiarity with the still-new technology among top banking brass remains a significant barrier to adoption, a new report from Mastercard and Oxford University found.


FIS Details How Younger Consumers—and Some Older Peers—Are Driving Digital Banking

Nearly half—49 percent—of millennial consumers had paid a bill via mobile within 30 days of a survey conducted for a new report from FIS. That data point underscores the growing importance of digital financial services and payments not only for younger consumers but their older counterparts.


Amex Study: ‘Gen Z’ Open to Brands, But Demands Seamless, Fast Experience

Consumers age 16 through 22 are open to communication from brands but have high expectations of those brands, demanding high levels of customer service and the latest in omnichannel functionality, according to a new study from American Express.


P2P Rising: New Study Points to a Market on the Verge of Major Growth

P2P payments are proving a big hit with younger consumers, with 62 percent of millennials saying they use a P2P payments service, according to a new survey report from Bank of America. That compares with 36 percent of all adult consumers.


Blackhawk Study: Brand Loyalty Can Solve Pain Points for Merchants

Brand power is serious business, according to a new Blackhawk Network study that found consumers trust their favorite brand almost as much as they trust their own families. What’s more, retailers can harness that brand loyalty to help with a bevy of challenges, including driving foot traffic, acquiring new customers and bolstering loyalty among shoppers.


U.S. Credit Cards Gain Ground on Debit, Prepaid, Nilson Says

The U.S. purchase volume of credit, debit and prepaid cards increased 7 percent in 2016 compared with last year, according to The Nilson Report. That purchase volume hit $5.648 trillion last year, with the volume from American Express, Discover, Mastercard, and Visa credit cards increasing 8 percent year over over to reach a combined $3.059 trillion—the first time that figure has topped $3 trillion.


Going Digital: E-Gift Cards Post Triple-Digit Growth

Consumers in India are increasingly turning to physical and digital gift cards. A new study showed that providers issued some 50 million gift cards over the past year, up from 20 million from the previous 12 months, an increase of 150 percent.