New research reveals millennials (25-34 years-old), a group at the peak of financial services usage, are 2 to 3 times more likely to close all accounts with their primary financial institution than people in other age groups. Millennials say fees (low balance, ATM, etc.) are the top reason Millennials switch banks. FICO’s latest consumer research…
In Other News: CURRENCIES (Board); CPI (CFO); BREEZEWORKS (prompt.ly); and BLUESNAP (Android). CURRENCIES DIRECT – Currencies Direct, the leading UK non-bank provider of foreign exchange and international payment services, today announced that Antony Jenkins, formerly CEO of Barclays Plc, has joined the company as non-executive Chairman. He will focus on further advancing Currencies Direct’s digital…
Australian credit card gross dollar volume (GDV) headed upward, posting a 10.9% year-on-year (YOY) in May. Purchase dollar volume (PDV) increased 10.7% YOY and cash dollar volume (CDV) was 15.5% YOY in May. GDV rose in May to AU$26.9 billion, compared to a revised AU$24.3 billion in the prior month and AU$24.3 billion one-year ago.…
Profits (after tax) among the nation’s Big 6 U.S. credit card issuers declined 4.9% in the first quarter (1Q/16), compared to one year ago (YOY) and, down 2.0% sequentially (QTQ). Aggregate card after tax profits for the Big 6 issuers logged in at $3789 million for 1Q/16, compared to $3867 million for 4Q/15 and $3984…