Experts believe we are seeing a P2P "power shift" happening. Experts believe we are seeing a P2P “power shift” happening. (Source: Shutterstock)

Over 1 million internal transfers occurred in July 2019, making up 67% of all money movement; 77% transfers came via smartphone devices; and since 2014 mobile usage increased 270%.

The Austin, Texas-based Malauzai Software, a Finastra company and digital banking provider for community financial institutions, released its July 2019 Monkey Insights “little-data” report, the report where an overwhelming amount of big data surrounding digital banking is broken up into digestible analytic factoids called “little data.” This report focused on money movement, such as person to person (P2P) payments, account to account (A2A) payments, and internal transfers, with a specific focus on how consumers choose to send money to their friends and family.

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Roy Urrico

Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).

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