White Paper

Social media payments: An ally or adversary of banks

January 3, 2020

Traditional financial institutions typically lack many of the characteristics that have drawn consumers to tech firms’ offerings such as ease of use and the ability to interact with others in the same ecosystem.

While some institutions are beginning to compete and embrace changes, they are also having to revisit their approach to retail banking and how they interact with their customers in order to catch up to the exponential rise of these social media competitors.