May 22 — The financial well-being of Americans overall in 2016 continued on a modest upward path, although the improvement was less pronounced for those with less education, according to the Federal Reserve Board’s latest report on the economic well-being of U.S. households.
Studies & Reports
A new study by Juniper Research has found the value of digital payments will approach $3.9 trillion this year, representing an increase of more than 14% on last year’s total. While the bulk of transaction value (55%) will be accounted for by online retail purchases for physical goods, P2P (Person to Person) money transfers will see the largest year-on-year net increase in value ($200 million).
As retail banks continue to brace for the digital future, branches are still having a significant effect on customer satisfaction across all customer age groups, according to the J.D. Power 2017 U.S. Retail Banking Satisfaction Study, just released.
IBM has identified five essential qualities for banks seeking to thrive in today’s increasingly digital and cloud-first environment. Like many other industries, the established players in banking are constantly facing changes and new competition. These challenges stem primarily from on-the-cloud start-ups and agile FinTechs, a group of businesses that Moody’s Investor Service estimates as high as 4,000-strong worldwide and on the receiving end of $19 billion in venture capital funding.
Carbon Black, a provider of next-generation endpoint security, has announced the results of its latest research report, “Beyond the Hype,” which aggregates insight from more than 400 interviews with leading cybersecurity researchers who discussed non-malware attacks, artificial intelligence (AI) and machine learning (ML), among other topics.
In the next stage of artificial intelligence adoption, banks will use AI to help understand the intentions and emotions of customers and enable better interactions, according to a new report from Accenture.
ath Power Consulting, a leading financial services research and strategy firm, has released of the fourth edition of The ath Power Consumer Digital Banking Study, a detailed assessment of digital banking usage, offerings, delivery methods, and customer experiences at financial institutions nationwide.
Tripwire, Inc., a leading global provider of security and compliance solutions for enterprises and industrial organizations, has announced the results of a study conducted in partnership with Dimensional Research. The study looked at the rise of Industrial Internet of Things (IIoT) deployment in organizations, and to what extent it is expected to cause security problems in 2017.
A new update to the Worldwide Digital Transformation Spending Guide from International Data Corporation (IDC) forecasts worldwide spending on digital transformation (DX) technologies to be more than $1.2 trillion in 2017, an increase of 17.8% over 2016. IDC expects DX spending to maintain this pace with a compound annual growth rate (CAGR) of 17.9% over the 2015-2020 forecast period and reaching $2.0 trillion in 2020.
StrategyCorps’ second annual “Consumer Checking Financial Performance Report” provides detailed analysis on more than 4.5 million checking account relationships incorporating over 600 million data points using its database from its CheckingScore analytical solution. The result is the most insightful and actionable information on consumer checking for financial institutions to use in benchmarking their own performance and to incorporate into their product and checking line-up decision-making.