The real estate industry faced severe economic damage at the beginning of the pandemic. Potential homebuyers backed away because of rising costs, unemployment and health concerns, with April data showing that property sales in the U.S. declined 17.8 percent from March and 20 percent year...
The pandemic has fundamentally changed all aspects of real estate, and time-consuming procedures like onboarding and ID verification for prospective buyers and sellers that were done manually must now be handled digitally, says Colin Wiel, chief technology officer at property-management firm Mynd. In the latest...
The world is tentatively reopening industry by industry, but some are still dealing with broad impacts from COVID-19 that could potentially shift the way they operate long term. The real estate industry, for example, saw increased use of online and mobile channels by both buyers and...
Mobile banking has rapidly grown to become a major force in finance. Mobile onboarding, however, is more like a force of nature at the moment. Without safeguards, it’s risky. And with the surge in online bill pay, online shopping, online entertainment — online everything after...
The need to stay at home and minimize person-to-person contact during the COVID-19 pandemic has pushed mobile banking use into overdrive. Customers are unable or unwilling to visit bank branches, instead using apps to conduct their financial activities and generating an 85 percent rise in mobile...
Registrations on mobile banking apps rose 200 percent in April as the COVID-19 pandemic prompted consumers to turn to remote banking services. But simply enabling consumers to open accounts via mobile devices isn’t enough, says Stephen Welling, director of retail banking for Atlanta-based Cadence Bank....
The new coronavirus led many financial institutions (FIs) to close or limit the hours of operation of their brick-and-mortar branches amid stay-at-home orders, in effect making digital platforms the only option for many consumers to interact with their banks. FIs thus received an influx of customers...
Remote onboarding — be it new customers or new products — is cresting like a giant post-pandemic wave, and businesses are scrambling to make sure it doesn’t swamp them. In a period marked by confusion, hackers see a playground of attack vectors in the onboarding...
The coronavirus pandemic’s impact on retail is proving irresistible for fraudsters, many of whom are taking advantage of consumers’ shifts to online purchasing amid social distancing protocols. Complaints sent to the Federal Trade Commission (FTC) indicate that Americans have so far lost approximately $13.4 million...
