As a growing number of consumers, particularly millennials, access financial services on their smartphones, traditional banks are struggling to keep up with new competitors. Major tech companies, from Apple to Snapchat, have entered the consumer banking industry, along with a wide variety of financial tech startups. Banks like Citigroup have formed new partnerships and departments for developing more mobile-friendly banking services as Americans’ banking habits continue to evolve. Continue reading Banks Make Changes to Adapt to Today’s Mobile Technologies

Apple recently announced it has partnered with dozens of new companies interested in adopting its Apple Pay e-commerce product, which allows customers to make in-store transactions with a touch of their iPhones. Partnerships with various retail stores, startups, and financial institutions represent the early adopters of Apple’s new product. Apple Pay has already outperformed other rival smartphone e-commerce products from Google, Verizon and AT&T.  Continue reading Apple Pay Gains Momentum, Partners with More Companies