American Express Sees Year-End Spending Surge, Driven by Younger Adults
Q4 spending by American Express’ more affluent customer base rose by 8% year-over-year, driven particularly by strong shopping activity among millennial and Gen Z consumers. Spending picked up after a 6% growth rate in both Q2 and Q3 2024, according to CNBC. Among Gen Z users, transaction volumes surged 16% in Q4 2024, while millennials […]
Outdated Payment Systems Hamper U.S. Businesses
Most businesses still rely on manual processes to handle at least part of their payments, contributing to a growing problem with failed payments. According to Modern Treasury’s new report, The State of Payments Operations 2025, the vast majority of financial decision-makers say their company struggles with its current payment operation. This has been a consistent […]
Staying Top of Mind: Mitigating the Unbundling of Banking Services
From One-Stop Shops to Many-Stop Journeys As Gen Z—a cohort born between the mid-to-late 1990s and early 2010s—comes of age, the financial services industry is increasingly shifting its focus from Millennials to this younger, more digitally native generation. Unlike Baby Boomers, who often relied on a single “primary bank” for multiple financial services, Gen Z […]