As consumers become more technologically savvy, they expect their financial institutions to keep up. Credit unions and banks all over the country are beginning to offer their own branded apps that allow consumers to deposit checks, make transactions and check account activity.
\Most Americans know they need a budget and, according to a survey from Bankrate, many have one. More than 80 percent of respondents said they have a budget; where they differ is how they keep track of it.
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Consumer security is a top priority for financial institutions across America. At a time when emerging technologies allow consumers to make purchases in any number of ways, having confidence that transactions are being made securely without any information being shared is important.
The millennial generation is the largest cohort the world has ever produced, and they are quickly rewriting the rules in many industries. Two areas of change brought on by the younger generation is the way businesses are run and the way they interact with their financial institutions.
New technologies have given financial institutions opportunities to reach consumers in a wide variety of ways. While some consumers prefer traditional banking practices, like face-to-face visits and check writing, others are more drawn to mobile banking and other technologies.