Money Makers Mentor

COVID-19 Increases Digital Banking Demand

The COVID-19 pandemic has changed the way many people approach their day-to-day lives, including banking. While digital banking isn’t a novel concept, it has taken on a new life entirely since the pandemic.

After many banks closed their lobbies in March because of COVID-19, there was a dramatic increase in the usage of digital banking apps. In April there was a 200% jump in new mobile banking registrations, while mobile banking traffic rose 85%, according to Fidelity National Information Services (FIS). FIS works with 50% of the world’s largest banks.

With many branches closed and no tellers available, banks have been dealing with a significant increase in call center traffic. This has also created longer wait times.

Digital Banking Usage

“What we are seeing are some hiccup…

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