This Week’s Reads: Millennials, Mobile Payments, Innovation

Below are interesting stories the staff has been reading over the past week.

Articles via Banking Exchange, The Financial Brand ,Wall Street Journal and BankThink

  • Millennials likely to embrace nontraditional services: According to a recent survey conducted for FICO, millennials (aged 18-34) are more likely to use nontraditional services like Apple Pay or Google Wallet, proving that banking alternatives have the potential to grow rapidly if properly designed and executed.
  • Branch banking shifting from transactions to interactions: As consumers shift their banking preferences from branches to digital channels, financial institutions will need to rethink how they interact with customers and members and what venues they focus budgets on.
  • Samsung makes move into mobile payments: Samsung announced that it has acquired LoopPay Inc., a start-up in the mobile payments industry. Like Apple Pay, this new acquisition is another example of companies looking to expand their capabilities and enter the payments atmosphere.
  • If Coca-Cola can be disrupted, so can your bank: The banking industry has always been susceptible to disruption, but with technology and innovation being at a high point in society today, they are even more so.

What have you been reading? Let us know in the comments section below or Tweet @bankingdotcom.

Written by Staff