The Digital Shift: How Modern Money Habits Make Estates Harder to Settle

Americans Are Moving Rapidly Toward Digital Banking

Over the past decade, U.S. banks and consumers have moved strongly toward digital‑first financial services. Banks now offer expanded digital services — from online accounts to crypto custody — as they integrate more technology into their platforms.

This shift means people are interacting with banks through apps rather than branches. FDIC research highlights that digital banking adoption has significantly changed how U.S. consumers access financial services, with banks expanding their digital reach into new markets without physical branches.

While this increased convenience benefits consumers, it also spreads their financial footprint across many platforms, making account discovery far more difficult after someone passes away.

Payment Apps Are Everywhere and They Fragment Financial Information

Digital payment apps are now deeply embedded in everyday U.S. life. An estimated 83% of U.S. adults use at least one digital finance app, including Venmo, Cash App, PayPal or Zelle.

Just two examples show the scale:

• Cash App had 57 million monthly active U.S. users in 2025.
• Venmo had 62 million users in 2025.

Consumers often use multiple payment platforms at once — on average 2.4 financial apps per person — which means money can move through accounts that leave no paper trail.

For Executors, this creates a major visibility problem. Without paper statements or centralized documentation, families may not even know these accounts exist.

Klarna and BNPL Services Create Hidden Liabilities

Buy Now, Pay Later (BNPL) services like Klarna, Affirm, Afterpay and PayPal Pay‑in‑4 are widely used in the U.S. Consumer adoption has surged, with 43.9 million U.S. Klarna customers by 2024 and over 93 million total BNPL users nationwide.

Crucially, the Consumer Financial Protection Bureau (CFPB) found that BNPL loans typically do not appear on traditional credit reports, meaning families and Executors cannot see them when reviewing a decedent’s financial obligations.

Further risk factors include:

• 21% of U.S. consumers with a credit file used BNPL in 2022.
• 63% held multiple BNPL loans at the same time, sometimes across several providers.
• 41% of BNPL users have missed at least one payment, creating liabilities that may be unknown to families.

These debts can remain invisible unless a specialized search is conducted, increasing the risk of missed liabilities in estate administration.

Digital Assets and Crypto Add an Entirely New Layer of Complexity

U.S. banks now increasingly interact with digital assets, including crypto custody and blockchain‑based payment systems. [engagecoders.com]
But digital assets create problems when someone passes away:

• Accounts may be tied to an email address or username, not a legal name.

• Wallets require passcodes or private keys that may not be shared.

• No physical statements exist.

The Federal Reserve notes that the digital asset ecosystem is “highly fragile” and operates largely independent of the traditional financial system, making visibility and access difficult.

As a result, crypto holdings can be significant but invisible unless someone knows where to look.

Why This Digital Shift Makes Estates Harder to Settle

Modern financial lives are spread across:

The Bottom Line

America’s shift toward digital finance has made money easier to move, and much easier to lose track of. With assets and liabilities scattered across many platforms, Executors need modern tools that can uncover the full financial picture.

Thorough, structured asset searches are now essential to ensure nothing is missed and families receive the funds they are entitled to.