Banking and Payments

Banking and Payments

Mintel’s Banking and Payments market research combines the latest market intelligence, industry insights and expert recommendations to help you anticipate what’s next in the Banking industry.

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Categories Related to: 'Banking and Payments'

Categories Related to: 'Banking and Payments'

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    FIs must continue working to bridge the gap between mainstream financial services and the un- and underbanked to ensure an equitable and inclusive banking system. Amr Hamdi, Finance Analyst ..."
    “The past couple of years have seen a rare reversal in trends within payment preferences, with credit cards declining as a top choice and cash climbing back upward. Recent economic developments have had a significant impact on the payments space, with the pandemic driving digital payment adoption and inflation causing..."
    “The big five banks continue to dominate the consumer banking landscape in Canada as they continue to leverage their strengths in the form of high trust levels, brand reputation and branch networks to become trusted financial partners of Canadians. Interest in digital banking features is high, but strong branch relationships..."
    “With economic uncertainty still looming, FIs must remain engaged and in-tune with their customers’ needs and wants. If it is support that customers desire, FIs must position themselves as subject matter experts in their customers’ corner ready to support their financial aspirations as well as enhance their knowledge and literacy...."
    “The Covid-19 pandemic and uncertain financial times accelerated many of the shifts that were already occurring within the payment landscape. Latinos are seeking brands they can trust and are interested in adopting novel payment methods that address their specific needs. Access and economic disparities condition Latinos’ payment habits and attitudes,..."
    “The pandemic tested FIs’ resilience with regards to adapting to heightened consumer demand for digital banking services. Providers emerged stronger on the other side, with adoption surging and satisfaction sitting at healthy levels. While adoption has accelerated, mobile banking is still perceived to be the less secure and inferior channel ..."
    “The COVID-19 pandemic accelerated many of the shifts that were already occurring within the payment landscape, driving widespread adoption of mobile payment alternatives and broadening the number of payment types that consumers interact with in their daily lives. This sudden leap in digital payment usage has intensified competition to gain ..."
    “Mobile payment systems are gaining traction with younger consumers while debit rewards are expanding along with the use of debit for online purchases but credit cards reign supreme as the dominant payment method.” – Sanjay Sharma, Senior Financial Services Analyst Key issues covered in this Report The impact of COVID-19 on consumer..."
    “Foot traffic in branches has fallen due to COVID-19 related safety concerns and this will lead to optimization in branch networks and a shift to a more advice centred branch format. But branches themselves will remain an important marketing space as they offer a sense of stability and reliability to..."
    “Banks were considered essential and kept open during the peak of the COVID-19 pandemic, but no one was really visiting their local branch out of concerns for virus exposure. Although vaccinations are becoming more widespread, the accelerated adoption of digital banking by  a number of banking customers over the past..."
    “COVID-19 has permanently changed a number of consumer behaviors, and its effect on payments is no exception. Younger generations are significantly more open to mobile payments, regardless of the timing, but issuers and payment providers will have a tough road to convince older adults to adopt this technology. Consumers realize..."
    "The un- and underbanked are more vulnerable to economic uncertainty, and the COVID-19 pandemic will have made it much more difficult for many of these folks to make ends meet. Further compounding matters, Hispanic and Black consumers are both more likely to be un- and underbanked and more likely to..."
    “As innovation advances, concerns around security persist. Although these concerns will not hinder the pace of innovation, this might slow adoption levels of new features among older consumers.”– Sanjay Sharma, Senior Financial Services AnalystThis Report looks at the following areas:Consumers are open to help with their financial livesBank employees are..."
    "College tuition costs are steadily rising, and the need for student loans continues. Delinquencies are on the rise as well, and borrowers are finding it more difficult to pay down their loans than they expected. Students and parents, however, are willing to make sacrifices in order to send themselves, or..."
    "Consumers may seem to have wholly embraced a digital future, but they are not yet ready to cede full control of their financial lives to technology. While more people than ever are using biometric login credentials and mobile wallets, far more believe in-person interactions will always be critical. Perhaps ironically,..."
    “The looming entry of digital currencies introduced by technology companies and Central Banks will change the payments landscape in ways that are difficult to foresee.”– Sanjay Sharma, Senior Financial Services AnalystThis report examines the following issues:Credit cards are most favoured for typical purchasesAround two in three consumers have used PayPalAround..."