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16 FANNIE MAE SURVEY: BIG BANKS VS. BIG TECH Online services offered by banks are appreciated by consumers, however, big tech competitors loom, stated a new Fannie Mae survey that looked into the American perspective on banking experiences, and the shifting patterns in consumer digital experiences. According to respondents of the Q 3 2018 National Housing Survey, while 43 percent of Americans say they are "very likely" to recommend their bank, 24 percent said they tend to stay with them out of convenience and trust. Some choose to stay on account of their bank's speed, rates, or online interface. Sixty-nine percent of consumers reported overall satisfaction with their primary bank's online interface as they are easy. Several respondents stated that they prefer performing simple tasks online—such as depositing money and paying bills—and are less comfortable performing more complex tasks online, including applying for a mortgage. Sixty-eight percent of young Americans do online banking, and approximately one-third of those surveyed use Big Tech payment services for mobile payments. e survey's findings come at a time when traditional banks and financial institutions face increasing competition from start-ups and established Big Tech companies that have started rolling out financial services. ese companies, however, do not inspire much trust among consumers, the survey noted. However, 20 percent of Americans, when thinking of their favorite technology companies—Google, Amazon, Apple, and Facebook— are more likely to trust that particular Big Tech company to handle their financial activities, including mortgages. "ese new entrants are looking to offer financial services and are often credited with offering dazzling consumer digital experiences significantly better than those of traditional banks. Given the digital and customer experience prowess and resources of Big Tech firms, they may be especially well- situated to compete against traditional financial institutions," said Steve Deggendorf, Director of Market Insights Research at Fannie Mae. e survey also pointed out most banks do not currently provide the experience that fulfills consumers' financial needs on the digital front compared to the Big Tech giants. Fannie Mae's prior research also shows that a majority of recent homebuyers have some interest in a fully digital mortgage. e survey findings also indicate that now is the time for banks "to step up their digital game and, more specifically, to consider how to best digitize more complex financial tasks before Big Tech does." ON THE WEB WEBSITES TO GET TO KNOW. Change the way you book your first class and business class flight accommodations with FlyWithClass.com. A full-service travel agency specializing in the high-end, this innovative site helps take the guesswork out of arranging the best fares for your next business trip. While sites like Travelocity and Kayak may appeal to the casual traveller, FlyWithClass.com is aimed at providing a c-suite level service even when you are out of the office. In addition to securing your flight, you can also arrange your hotel stay as well as book travel insurance with FlyWithClass. e ultra-elite traveller can even use the site to book a private jet. e site's live concierge service helps make you feel comfortable that you are getting the best price for your business travel and will arrive at your destination on time, refreshed, and ready to go straight from the tarmac to the boardroom. Live up to the "balance" part of the phrase "work-life balance" by taking a time out with Blinkist. Blinkist is perfect for the bookworm who has trouble finding time to devote to their passion by condensing popular nonfiction books into text and audio that can be consumed in as little as 15 minutes. With more than 3,000 titles, there is truly something for everyone–but don't take our word for it, try their seven day free trail and find out for yourself. For those professionals who can't fully switch off from work-mode, browse the variety of motivational business books available in the management and leadership section. Other popular categories include personal growth and self-improvement, history, and psychology. With the tagline "the privacy company," you can rest easy when trusting your data storage to MEGA. MEGA is a cloud-storage platform that provides secure global access, end-to-end encryption, and secure collaboration among teams. With 50 GB of free storage, take a test drive of MEGA's business services to figure out if it's the right fit for your company's data. Live, encrypted backups ensure that even the most tech-dense employee won't delete all your files, while easy interface with MEGA's mobile app means that your info is just one click away. MEGA's business account allows easy collaboration through added features such as text chat and audio/video calls. BLINKIST 2 FLYWITHCLASS.COM 1 MEGA 3