06Jun

What the ATM did for getting cash, the covid pandemic is doing for many other banking services.

More than ever, customers are turning to online banking to pay bills, transfer funds, and handle transactions they would have visited a branch for just a few months ago.

Baby Boomers, the generation most reluctant to have downloaded their bank’s mobile app, have embraced online banking in record numbers. Shortly after businesses were ordered closed, The Senior List found 77% of older Americans had conducted a financial transaction online.

This embrace of mobile banking is one of the banking trends that is here to stay, says an article in Forbes.

“It’s not just Boomers who are swiping right on online banking,” says Forbes. Citing a Boston Consulting Group survey conducted in June, the article notes that in the first three months of the pandemic 44% of 18-34 year olds enrolled for the first time in online or mobile banking.

Overall, Fidelity National Information Services, a service provider to the banking industry, reported new mobile banking registrations increased by 200%, and mobile banking traffic increased 85%.

“Once customers experience the convenience of mobile, they very well may never go back to traditional banking,” the Forbes article says. The Boston Group found a quarter of the new remote banking users claim they will visit bank branches less frequently in the future or not at all.

While e-commerce has exploded during the pandemic, banks have taken steps to streamline the payment process in brick and mortar stores. Forbes says some banks upgraded physical debit and credit cards to enable tap to pay. “Consumer usage of platforms like Apple Pay and retailer deployment of embedded contactless payment terminals like Square has also reached unprecedented levels,” the article reports.

In one area that before COVID hadn’t attained much traction, fintech startups and the industry generally have seen a spurt in demand for money management tools. Though 75% of respondents to a survey reported never using a personal finance app, since the pandemic 16% have. Here, it’s Gen Z and Boomers that are more aggressively turning to these services. A SYKES survey reported 23% of Gen Z and 18% of Boomers said they were new users to personal finance and budget apps.

“Fintech is an ever-evolving landscape — and it’s one that the pandemic has sent shock waves rippling throughout,” says Forbes, which concludes on this note: “Thanks to fundamental shifts in the way consumers perceive and depend upon digital finance tools today, these fintech trends just may stick around long after people have holstered their hand sanitizer.”

Photo by CardMapr.nl on Unsplash

[bdp_post_carousel]

#WeAreGreenKey: Spotlight on Samantha Desena 

Welcome back to #WeAreGreenKey, where we shine a spotlight on our powerhouse agency team.   

We met up with Samantha Desena, Recruiter at Green Key on the Accounting and Finance team. Samantha started her career at Green Key almost 2 years ago, when she transitioned to agency recruiting.  

How did you get started in recruiting?  

I started off my recruiting career as an internal recruiter within the finance field and I was solely recruiting for one job all the time. I loved interacting with people in that capacity and being able to help them find a new career but after a while I started feeling siloed and the day to day became very mundane. So, I started looking into agency recruiting, and I found out that it’s kind of this whole other world where there are different jobs that you’re working on at once and they could all be completely different. So that’s kind of how I fell into agency recruiting and joined Green Key. When I started here, they were opening the Morristown NJ office, so I jumped on that, and I got in contact with Pat Friel. This is my first agency experience and I love it. It’s ever changing, always interesting, never boring. I feel like every week is a different challenge. I’m really happy I found agency recruiting.  

What do you find the most rewarding about your work? 

The most rewarding thing about the work I do is interacting with people and just being able to take people where they’re at and help them get on a path to where they want to be. Whether they’re in public accounting or they’re in an industry role and really want to be a controller down the line or really want to get into a fund, we can be the career advisor that shows them what the path will need to look like to get to their end goal.  

2024 marks 20 years of Green Key, how would you describe your experience since starting your career with the team? 

It’s interesting to be on a team where everybody’s at a different point in their recruiting career and their time with Green Key. We have people who’ve been at Green Key for all of 20 years. We have people who have been at Green Key for 1-3 years and everyone comes from such different backgrounds. We have a ton of people on our team who started as accountants or CPA’s then you have people like me who are two years into the working world and have a communications degree. It is awesome to have the same opportunity regardless of my educational background. It’s a role that comes down to your drive and your personal goals. I think that’s super cool.  

Are there any challenges you foresee for candidates in the year ahead and what advice would you give to them to navigate the challenges?  

I would just tell them that if they were considering leaving their current job, they should reach out to us before putting in their notice so that way we can help them set up a game plan to find their next opportunity. It is hard to stay in a job that you are unhappy or mistreated in but it is even harder to find the job you really want when unemployed. We see really good candidates struggling with this and it can be discouraging for them. So, hold off and get in contact with a recruiter and talk about what your timeline is and we will help you find something new ASAP. 

What are you and your team’s goals for 2024? 

Our goals as recruiters are to bring in new business but also to continue building the relationships we have with our clients and candidates. And as a team in NJ, I think a goal we have is to grow our office. When I started, we were about 3 people in NJ and now we are 6! It would be cool for us to grow the office as big as some of our other offices like in Pittsburgh or NYC.  

#WeAreGreenKey: Spotlight on Olivia Eberle

Welcome back to #WeAreGreenKey, where we shine a spotlight on our powerhouse recruiting team. 

Recently, we caught up with Olivia Eberle, Recruiter on the Accounting and Finance team at Green Key. Olivia started her recruiting career at Green Key about a year ago after she transitioned from a career in public accounting.

Can you share your career journey and how you progressed to your current role?

Sure. After I got my Bachelors in Accounting, I started my accounting career in public audit with a firm that no longer exists and after spending some time there I realized that accounting might not be for me, so I wanted to try a different route. That’s when a recruiter from Green Key reached out to me about an accounting role, which I ended up working in for about 6 months. That role helped me solidify my thought that accounting was not for me, but I still wanted to use my degree. So, I reached out to my recruiter from Green Key to ask about recruiting and now I am here.

What have been some of the most rewarding aspects of your career? 

Even though I had to learn the sales side of the business, there are a lot of rewarding aspects to my career. Firstly, I love being able to help candidates who are looking to change not just their career or role but their lifestyle. I love that I can help them take their careers to another level and I can successfully place them in a role that will help them reach whatever goal they want to achieve. Another rewarding aspect is the fact that I can be my authentic self in this job. It’s very nice to be able to work in a role where I can express my personality and connect with people every day.

How do you balance the use of AI technologies with traditional recruitment methods in accounting and finance, ensuring a human-centric approach while leveraging the benefits of automation and data-driven insights?

I use ChatGPT almost every day for a couple in a couple of different ways specifically for searches and when I am recruiting for a new role. I also use LinkedIn recruiter’s AI tools that are really helpful when it comes to building searches, so I use those and then I also go back to ChatGPT. I use ChatGPT sometimes with resume writing because I really like helping my candidates with their resume. Some people just have never had resume guidance, which is something that I received at my college.

What advice would you give to candidates looking to stand out in the accounting and finance job market?

To candidates, I would say your resume is the thing that makes the first impression, so spend a good amount of time writing it and have a couple of different resumes on file. Especially, if you’re looking for different types of jobs, for example somebody like me, coming out of public accounting looking to go to private. There are a couple of different tracks that you can go on and you can write your resume in a couple of different ways to be a little bit more tailored to each. Additionally, I think that being yourself in interviews is really important. A lot of people don’t realize that even though they are working within accounting, which at times can be very solitary work you have to be interactive, and I think candidates are more successful when they’re willing to step outside of the box.

How do you stay updated on changes and developments within the pharmaceutical industry to better serve your clients and candidates?

I have a few main ways, I follow probably hundreds of companies on LinkedIn, some of which are our clients. I’m also a member of different CPA Society groups on LinkedIn where people will talk about different changes to the CPA exam or changes to audit guidance or tax guidance that kind of helps me stay in the know. I also use Reddit, there are a lot of accounting and finance pages on Reddit where I hear or read about things like layoffs before, they are public or, if there’s a merger happening sometimes like somebody will post it on Reddit before you even hear about it in the news. Lastly, I read a lot of news publications like the New York Times and Microsoft News like the articles that just pops up on your computer.

Do you have any new professional goals, either for yourself or your team?  

Yes, so in the grand scheme of things, I am pretty new to Green Key but with the growth of our Morristown office I would really love to continue to help others and help find another recruiter or two to join our office. I would also like to continue to help my co-workers develop their skills especially if they didn’t come from an accounting background.