April , | highlightsdigital platforms are converging, with neobanks adding investment features and investment . Platforms introducing banking services like checking and savings accounts.Younger generations are driving this convergence and . Represent a key demographic; millennials and gen z are highly comfortable with digital Run That Increase Engagement banking and . Investing apps.Established and emerging platforms are strategically expanding their service offerings to capture market share . And build comprehensive ecosystems.The movement by neobanks to branch into investing and credit card rewards, . And investment platforms to branch out into banking, speaks volumes to the appeal of apps .
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As digital front door to a continuum of financial activities.Pymnts intelligence has detailed that % . Of millennials, % of generation z and % of generation india phone number data x primarily use mobile banking . Apps. In addition, % approved their overall access to financial services, and % said new . Technologies have enhanced their banking access, according to our data.Checking and savings: funding investment accountsfor . Banks, and especially for the neobanks that have been building debit and saving options, the . Shift toward offering equities trading, among other investment features, capitalizes on the fund flows into .
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Those primary day-to-day accounts, building an on-ramp to use some of those funds to launch . Trading.The demographics are in place to support the strategy, and the u.S. Offers a snapshot: . Charles schwab found in a recent survey that in americans are investing actively and that, . According to the data, “more than a quarter of google ai overviews: what do they mean for search? gen z were taught about investing . In school, significantly more than older generations.” a majority of those surveyed said they were . Poised to be in better financial shape than their forebears, and contended there are more .
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Ways to build wealth (cited by % of individuals), increased accessibility to investing (%) and . Additional investment options available to them (%). The average age at which the overall population . Surveyed started investing, said schwab, was ; for gen z it’s years of age and . For millennials, it’s earlier this month, as pymnts reported, and in evidence of the expansion . Of the digital banking platforms, revolut said it plans to add u.K. Stocks to its . Trading platform.
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The company gained its u.K. Trading license in november, has over , u.K. . Trading customers, and already offers u.S. And european equities. Separately, revolut is reportedly building a . Rewards-based credit card that would use the revpoints points system the company launched last year . To offer rewards tied to debit card activity. The text services credit card based rewards will reportedly . Be rolled out in the u.K.Online investing opens doors to checking and savingsinvestment platforms, too, .