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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
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