This study aims to examine the personal finance characteristics of mobile banking and mobile payment users in the United States. To achieve this goal, we used the 2018 National Financial Capability Study, which surveyed over 27,000 American adults regarding their personal financial standing and behaviors. By using ordinary least squares models, our results indicated that the use of mobile banking and mobile payment technology was associated with lower age, Non-White Ethnicity, higher income, higher debt load, debt types (auto, student, credit card, and predatory), and spending more than one’s income. These results reveal that the higher one’s income, financial liabilities, and spending are, the more they may value the convenience of mobile banking and payments.

Multinational enterprises (MNEs) operating across different currencies are exposed to exchange rate risk. They may utilize a variety of tools to mitigate that risk. While there are different types of exchange rate risk, this study focuses specifically on the ongoing exposure of cash flow transactions denominated in the currencies of seven different developed countries. Since other types of risk (i.e., economic and translation) are evaluated based on yearly results, they are not considered in this study. The modified value-at-risk (MVaR) model is employed to estimate the maximum one-period losses during the eighteen months before the onset of the COVID-19 pandemic and, in addition, the maximum one-period losses during the eighteen months following the onset of the COVID-19 pandemic. The predicted losses using MVaR are then compared with the actual ex-post results. Our objective is to analyze the extent of the cash flow transaction exposure and provide practical insights to MNEs as they decide whether or not they should hedge this risk. This study is noteworthy because it compares the pre- and post-COVID-19 periods.