Consumers are also cutting back on essential and nonessential spending to cover costs

Growth attributed to increased demand for convenient and flexible payment methods

Figures included 35% who believe they will never achieve financial security

Nearly one in six banks admit to lagging behind or working to catch up with digital transformation

Banks would lose nearly $685 billion in hypothetical scenario of extreme recession

Three-quarters of respondents expect AI to introduce more benefits than risks to central banks

The rapid implementation of AI within banking and financial markets institutions has caused a decline in workplace culture

The new rules will outline the requirements for recognition in the industry

Consumer spending on credit cards and debit cards have only grown by 3.5% year over year

New report found 70% of Americans feel renting could impact their current and long-term finances