This Week’s Reads: Underbanked, Checks, Biometrics

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

Articles via Credit Union Times, Bank Innovation, American Banker, The Financial Brand

  • Slash fees to win over millennials, underbanked: According to a recent survey, 78% of respondents said branch location is important or extremely important when looking for a financial institution, yet only 13% reported that a branch is their primary channel for managing money.
  • The disappearing check: how long until the end?: From the years 2003 to 2013, the amount of checks used for payments has decreased from 36 million to 18 billion.
  • Biometrics find support from unlikely demographic: seniors: While it may seem odd at first that seniors are adapting to biometrics, when evaluated it makes sense –as their eyesight and hearing abilities decline, biometrics make banking easier for them.
  • No loyalty? Millennnials not afraid to dump their banks: According to a recent Accenture survey, nearly 1 in 5 millennials said they switched from their primary bank in the past 12 months.

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

Written by Staff