Impending recessions aside, new forms of wage access and fast disbursement are hot commodities for businesses that rely on gig workers but are finding them harder to attract and retain. Up to 16% of all Americans have taken on some form of gig work, yet...
Maximizing money mobility is the goal in today’s digital-first economy, but digital banking’s vulnerability to bad actors has made fraud a pervasive threat to this ideal. A 2021 FICO survey of 1,000 United States-based consumers revealed that 46% have fallen prey to fraud and nearly...
In the new "Money Mobility Tracker" report, Christopher Mastrangelo of digital bank Grasshopper explains how biometrics and other cutting-edge tools have seen FIs take a giant leap toward money movement that is instantaneous, frictionless and secure.
Where consumers once had to wait for payments to post, they now expect their money to move instantly between accounts. Maximum money mobility is the new imperative of a digital-first economy, but the faster money moves, the greater the risk of fraud. Despite these risks,...
The gig economy is a changeable landscape where worker retention is becoming an issue. It’s also an ideal use case for instant and real-time payouts. Real-time payments cure a host of ills in a sizeable gig sector that today includes rideshare and food delivery drivers,...
Digital payments and banking had been on the rise for years when the pandemic’s shutdown of physical storefronts pushed much of retail and banking online. Recent PYMNTS research found that 69% of all consumers now bank using their financial institutions’ (FIs) mobile apps, and 47% of...
How money moves from account to account must be fast, secure, accessible and transparent, says Regions Bank’s Tim Mills in the latest "Money Mobility Tracker." He says that digital tools and increased FI awareness are driving the change.
Financial services providers face many choices when determining the best way to offer customers money-out mobility, and the temptation to lean too heavily on in-house solutions may cause some to overlook the benefits of partnerships. Lack of familiarity with the work that comes after a...
“Citizens expect that their government is an efficient steward of its financial resources; provides financial information that is accurate; and offers financial interactions that are modern, seamless, inclusive and secure.” — Federal Financial Management Vision, 2022 When we think of efficiency and cutting-edge technologies, government...
