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Increasing use of digital technology by consumers, plus a new on-demand webinar series

Survey says: Digital banking for the win! Consumers’ comfort with and consumption of mobile/digital technology continues to fuel the financial industry’s digital transformation. New research from the American Bankers Association, which surveyed approximately 2,200 adults, revealed that consumers’ use of digital technology to access their financial information continues to rise:

  • 72% most often access their bank accounts online or via mobile platforms compared to 18% who said they do most of their banking transactions in person at a branch.
  • 42% prefer accessing their accounts via laptop or personal computer; 30% said mobile was their favorite way — up 4% from last year.
  • Across all age groups, more than half said they preferred digital access to branch visits.
  • 51% ages 18-34 said they used mobile banking the most.
  • 56% of people 65 and older said they did most of their banking using online platform.

Factors Driving Digital Change in our Industry

This on-demand webinar series features the following topics:

  • Open Banking
  • Distributed Ledger Technology
  • Data Analytics
  • APIs

In addition to the increased use of technology by consumers, several other factors are also driving digital transformation in our industry. These factors include:

  • Open banking, a growing concept in the financial services arena, which is based upon the principles of decentralized access to financial data through Application Programming Interfaces (APIs) and open-source technology.
  • Distributed Ledger Technology, commonly referred to as blockchain.
  • Data Analytics about your members, which can unlock big opportunities for your credit union to grow, serve its members more effectively and increase revenue.
  • APIs, which can provide a more seamless user experience.

We’ve made it easy for you to learn more about each of these topics in our on-demand webinar series, “Factors driving digital change in our industry.” Each webinar examines the impact of these factors for credit unions and their membership and includes practical strategies and use cases.