Digital banking is reaching unprecedented levels of popularity amid the pandemic, as consumers are harnessing mobile banking apps to handle their checking and savings accounts. In retail, Target is aiming to make its shoppers’ lives easier by saving them time and moving them toward high-value digital experiences. And the largest mall in the nation is fighting to prevent foreclosure as bad news continues to pile up for the sector. All this, Today in Data.
Data:
195%: Growth of Target’s digital comparable sales over 2019.
89%: Share of American bank customers using mobile banking apps to manage their savings and checking accounts.
41%: Portion of Europeans unable to access financial services due to the COVID-19 pandemic.
16.1%: Share of commercial retail loans that are 30 or more days delinquent as of July 2020.
3.6B: Minimum expected number of online and mobile banking users by 2024.
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