Technology will continue to play a huge role in the strategic growth of banks. As the generation moves toward digital and untraditional banking models, some banks are failing to offer the right products, services and delivery methods to this population segment. There’s a specific reason why many banks are under-prepared to service customers with new technology: a technology gap exists.

Recent data shows that Americans struggling to fulfill budget obligations are more likely to keep making their car payment a high priority because they depend on the transportation to and from their jobs.

BillingTree’s Payrazr Marketplace is a unique technology cornucopia designed to help companies with everything they need to simplify the billing and receivables process.

BillingTree, in partnership with American Banker, conducted an annual survey of lending institutions in the U.S. The purpose of the survey was to understand the usage of payment technology solutions and the priorities of decision-making consumer lending professionals. As the industry navigates a shifting business and regulatory environment, survey results will help to establish a benchmark to examine trends year-over-year.

BillingTree, in partnership with American Banker, recently conducted an annual survey of lending institutions in the U.S. One of the goals for the survey was to examine the top operational issues and concerns that lenders had, and then explore how this related to the things they valued most about their payment processing partners.

Online payment acceptance continues to grow among consumer lenders, with mobile adoption accelerating and paper checks on the decline. BillingTree, in partnership with American Banker, conducted a first annual survey of lending institutions in the U.S. as a way to understand the usage of payment technology solutions and the priorities of decision-making consumer lending professionals.

As companies continue moving to more paperless operations as a way to tighten budgets and improve operational efficiencies, a recent consumer finance survey indicated that when it comes to loan payments, paper forms of payment still outrank electronic payments, although the margin is slim. BillingTree conducted the annual survey of lending institutions in the U.S. as a way to understand the usage of payment technology solutions and the priorities of decision-making consumer lending professionals.

As technological advances create shifts in the payments industry, “omni-channel payment solutions” have become a necessity for businesses because they increase flexibility and autonomy for the customer.

A recent survey from BillingTree, in partnership with American Banker, shows that while bank-deposited paper checks represented the most widely accepted form of payment for lenders, mobile payments were growing in acceptance.

A recent article with Forbes shows the millennial customer is changing the banking industry. Traditional brick-and-mortar banking has quickly been replaced by technology. Latest statistics prove that banks can no longer ignore this vast and ever-evolving group. It’s time for banks to respond to the changing market and fulfill the needs of the millennial consumer.