Checking accounts are a vital source of funding for banks and credit unions. FIs celebrating their success in this area need to take a second look at the data, says Ron Shevlin from Cornerstone Advisors.
Cards & Payments.
Apr 19, 2023
Ron Shevlin, chief research officer at Cornerstone Advisors, responded: “I don’t think it’s supposed to be ‘transformational.’ I think it’s designed to drive more utilization of Apple Pay and Apple Card. And to make Apple more money."
Feb 25, 2023
Cornerstone Advisors found that 16% of its consumer sample identified as small business owners and about half of them accept some form of digital payment, with convenience being the leading reason.
Feb 22, 2023
"The big banks are going to struggle to disrupt the digital payments leaders, says Ron Shevlin, chief research officer at Cornerstone Advisors. “PayPal is clearly the 800-pound gorilla in this space,” he says."
Oct 6, 2022
Cornerstone's Ron Shevlin says simply eliminating fees for overdrafts, and changing how FIs pay or don't pay out on attempted consumer payments, doesn’t address the root cause of consumers’ problems, which is illiquidity.