Chart
| Sep 18, 2023
Source: McKinsey & Company
Fed program will monitor banks’ ‘novel activities’ in crypto and other innovative tech: If you’re handling digital assets, running a blockchain, or offering banking as a service, your activities will likely fall under this program’s oversight.
Article
| Aug 14, 2023
Report
| Oct 14, 2022
On today’s podcast, we are talking about digital account-opening trends, who’s opening bank accounts digitally, and what they want or expect when going through that process. Here’s a look at what we’re talking about this week:
• In our “Headlines” segment, we discuss how in-flight deposits and Gen Z will drive account openings in 2023 and to what extent new account openings are the result of high deposit rates and an incentive-laden environment.
• In “Story by Numbers,” we examine how being able to set up direct deposit when consumers open checking accounts is extremely important and the importance of deposits being protected.
• In “For Argument’s Sake,” we suppose there’s a new US banking regulation requiring all banking products to be applied for and opened online. We debate (nicely) how the industry dynamics would change if everything in banking were digitized and moved online.
Tune in to the conversation with host Rob Rubin, managing principal of financial services consulting at EPAM Systems Alex Jimenez, and our analyst Tiffani Montez.
Audio
| Aug 8, 2023
How the industry has reacted: Throughout the banking sector, there’s a general sense of regulatory dread around which bank will wind up in the news next. American Fintech Council CEO Phil Goldfeder also told American Banker that it feels as though regulators are unfairly targeting innovation in the banking industry.
Article
| Apr 3, 2024
Article
| Aug 2, 2023
On today's episode, we talk about the top three banking trends for the second half of the year that are identified in Insider Intelligence's latest report, Banking Trends to Watch for H2 2023. We discuss in detail banks' renewed focus on customer acquisition, how mergers and acquisitions have returned to the space, and in what ways banks have begun rolling out generative AI tools. Join the discussion with host Rob Rubin and our analysts Eleni Digalaki and David Morris.
Audio
| Jul 25, 2023
The Federal Reserve warned Goldman Sachs about oversight problems within the fintech division of its Transaction Banking unit. The unit provides BaaS functions for large businesses, per the Financial Times. The FDIC raised the alarm about potential damage to the US banking system from dodgy BaaS partnerships.
Report
| Dec 21, 2023
Dedicated teen banking apps. Championed by neobanks including Revolut and Current, this format offers banking products like debit cards and savings accounts. Teen accounts are linked to parents’ accounts, giving them oversight and control of their teen’s spending. This maintains guardrails while giving teens some independence. Teen banking rolled into existing apps.
Report
| Apr 16, 2024
This was originally featured in the Banking & Payments newsletter. For more retail insights, statistics, and trends, subscribe here.
Article
| Feb 26, 2024
Report
| Aug 26, 2022
Gen Z turns to YouTube for banking information. Gen Zers aren’t facing financial reality—but banks can help. Each generation has distinct financial goals for 2024—and they should inform banks’ targeted marketing strategies. The State of Gen Z Financial Health (EMARKETER subscription required).
Article
| Mar 14, 2024
The survey, which covered 300 global banking executives, was conducted by research firm Economist Impact and commissioned by bank software vendor Temenos.
Article
| Feb 16, 2024
American Express National Bank: This online banking arm of the credit card issuer Amex was deemed the “best for customers who value environmental and social causes” by Yahoo Finance. The banking arm benefits from the larger company’s sustainable reputation. The company submitted emissions reduction targets for net-zero emissions by 2035.
Article
| Feb 14, 2024
But not everyone is happy about the reduction in in-person banking services: Multiple national governments are trying to turn this trend around to ensure their most vulnerable constituents still have access to cash.
Article
| Feb 5, 2024
How we got here: Ripple effects from the March banking crisis contributed to a disappointing regional banking earnings season. Big banks bore the brunt of the FDIC’s special assessment to replenish its insurance fund, which had been depleted by last year’s collapses—but regional banks also had to pay up.
Article
| Jan 26, 2024
The banking sector suffered a sharp digital ad spend slowdown. Growth torpedoed in 2022 and 2023, falling to as low as 1.5%. Deposits plummeted during the banking troubles of early 2023, per the Federal Reserve Bank of St. Louis, giving banks fewer resources to work with. And with lending demand—particularly for mortgages—also down precipitously, banks have been conservative with their ad spending.
Report
| Oct 26, 2023
The former is a banking industry-specific large language model (LLM) that can extract insights from huge data sets. It also powers KAI Answers, a customer service application that can quickly and accurately address customer queries. Prediction. GenAI startups will buck the overall downward trajectory of fintech funding.
Article
| Jan 29, 2024
Audio
| Jul 11, 2023
Forecasts
| Jun 3, 2022
Source: Insider Intelligence | eMarketer
Since the late 90s, Walmart has found limited success in branching into the banking world. Like fintechs and other retailers, its inability to get a banking charter hasn’t stopped it from offering various financial services.
Article
| Jan 22, 2024
What it means for the banking industry: Under the terms of the deal, Capital One would absorb Discover's online bank, including its deposits. Last year, both banks focused on growing deposits, raising Discover’s by 4% quarter-over-quarter, and Capital One’s by 9%. Capital One is currently the ninth-largest bank in the US.
Article
| Feb 21, 2024
As banking companies focus on meeting heightened consumer expectations for personalized experiences, 2022 may be another record-breaking year. These players will need to weigh partnerships with encroaching Big Tech competitors.
Report
| Dec 10, 2021
The New Orleans factor: National banking expert James Royal noted it’s unusual to see many conversions simultaneously focused in one location. Usually, he sees five to seven conversions across the entire US per year, per New Orleans Metro News. Economic conditions in the city could be driving this change.
Article
| Mar 20, 2024
Banking leaders need a clear genAI roadmap that emphasizes senior leadership alignment, talent development, and use-case prioritization based on value and feasibility. They must also have a solid understanding of genAI’s capabilities and limitations to make the roadmap realistic.
Article
| Apr 19, 2024