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For years, the banking industry has been in flux. The last two decades have seen massive consolidation, economic turmoil and changes in consumer behavior and expectations. The pandemic created radical shifts in the industry with more consumers using mobile banking, cash applications like Venmo and a striking move to a society that desires contactless payment methods.

Digital payments have now become the central access point for consumers to their primary financial institutions. For most consumers, the day-to-day relationship with their financial institution is solely through the use of their primary card. This is a fast-evolving challenge for all financial institutions.

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