Many banks have them. Many banks spend money on them. Nearly all of those banks ignore them. The “them” is text banking apps, and the degree to which they have been marginalized baffles me. Earlier this week, I asked a top innovation executive at one of this nation’s largest financialRead More
Post Tagged with: "Pew"
White people are likelier than blacks and Hispanics to bank online, but far less likely to bank on their mobile devices than other ethnicities, according to a new report from the Pew Research Center. Why? We have no idea. Overall, the report found that 51% of US adults bank onlineRead More
Checking accounts are a “fundamental product” for consumers, but that doesn’t stop some banks from falling short in their disclosures and, more importantly, engaging in abusive overdraft fee practices, according to the Pew Charitable Trusts. Interestingly, this call for improved overdraft practices comes as overdraft revenue drops at financial institutions.Read More