Digital banking isn’t new, but with the coronavirus pandemic, young and old Americans suddenly flocked to online and mobile banking en masse. The sudden uptick in online and mobile traffic even created outages. Among those affected: online platforms for U.S. Bank, PNC, Fifth Third Bank, Bank of America, T.D. Bank and BB&T.
According to Fidelity National Information Services (FIS), which works with 50 of the world’s largest banks, there was a 200% jump in new mobile banking registrations in early April, while mobile banking traffic rose 85%. With many branches closed and no tellers available, banks have also been dealing with a significant uptick in call center traffic, creating long wait times.