Firms like Wise aren’t just eating into banks’ remittance share—they’re gunning for broader banking services
Customers can use Affirm at Walmart’s self-checkout kiosks, which will help the firm capture more of Walmart’s in-store sales
Understanding each group’s unique needs can help banks set up their marketing strategies.
We look back at three of the biggest trends that influenced the credit card space this year.
Consumer demand for travel insurance takes flight: It’s up 126% compared to 2019 and 410% compared to 2020. Extreme weather and unpredictable geopolitical events are driving anxious “revenge” travelers to come up with a Plan B for their vacations.
High-net-worth individuals may be underserved—and overlooked: Some reach that status without realizing it and end up underestimating their insurance needs. A personalized risk management discussion can help educate them about solutions.
Class action lawsuits against healthcare insurers bear watching: Humana and United Healthcare are accused of using AI predictive tools to automate claim denials, despite a high error rate. The cases could lead to greater scrutiny of how AI is deployed by all insurers in decision-making support.
They centered on regulation, late fees, and winning over Gen Zers
Another multimillion-dollar campaign against swipe fee legislation didn’t materialize, and A2A payments need more incentives to take off
Though US regulators tried their best to keep up, they still must address some major gaps in 2024.
42.4% of US Gen Z banking consumers would consider their proximity to ATMs as a factor before choosing a new bank, while 28.8% would consider their distance to a branch, according to our survey. By contrast, 39.6% would consider the bank’s reputation.
The partnership will help PayPal grow Braintree—which is one of its core focuses
The network also forecasts a surge in ecommerce returns, per its 2024 economic outlook
Uptake has been slower than anticipated, and we may not see FedNow’s impact on the payments industry for years to come
And their desire for more guidance from financial professionals opens up opportunities for strengthening relationships.