The agency said it will use about $20B of the fund to cover Silicon Valley Bank depositors. Banks (and maybe customers) will pay in the long run.
The deal cost First Citizens $16.5B. In return, it’s expected to get a western US footprint, revenue growth, and loss protections.
Apple’s product strength and established wallet reach will make the solution a prime competitor in a crowded market.
Life insurance ownership is dwindling among US consumers, but demographic trends can shape acquisition strategies of new life insurance policyholders. Addressing pain points of Gen Z consumers can help marketers boost ownership rates of policies.
Technology startups are finding it harder to scrounge for backing while investors play it safe in the aftermath of a banking crisis that could put the innovation economy in peril.
Insurers need to plan for more claims, greater risks, and new regulation.
Many businesses are finding themselves underinsured as inflation drives up prices. Insurers also blame inflation for increased payouts and lower profits. 2023 looks to be more of the same.
Tech innovation, climate change, and a poorly communicated value proposition are creating global protection gaps. Here’s how insurers can adapt and profit.
OneScore uses alternative data like rent to measure creditworthiness, which can support consumers who have minimal or no credit history.
Insurer Zurich is exploring using ChatGPT to improve modeling and claims. The tech has the potential to strengthen customer service, but not all consumers are sold.
The value of Deutsche Bank shares plummeted on Friday as the price of its credit default swaps spiked. Meanwhile, the news of a probe left UBS and Credit Suisse shares struggling.
It partnered with OpenAI on a ChatGPT plugin to offer users personalized shopping recommendations.
Banks will need to manage their net interest margins. One tactic is to reduce rates for savings accounts. Or maybe banks can win more of these new customers’ business instead.
The Big Six are (almost) failing up: Depositors are getting the message that the former Dark Lords of the financial crisis are your savior—when they’re backed by the government.