Banks keep getting better about social selling: An ABA survey looks at how social media campaigns are helping banks and credit unions turn anonymous institutions into friendly, approachable community members.
Most credit unions say they take a wait-and-see approach toward innovation: That means their members might eventually jump ship for the shiny new digital experiences that megabanks and fintechs are investing in.
What went wrong at First Republic: The FDIC’s report includes a “mea culpa,” saying it could have been more aggressive in policing the bank’s risk management—but it’s still not sure that would’ve helped, as depositors yanked their money too quickly.
The pushback on proposed capital requirements escalates: Trade groups and bank executives have picked their battle over reforms proposed by US regulators—and they’ve come out swinging to defend their equity, profits, and stock prices.
The branch transformation moves from theory into practice: Our series on how banks and credit unions are rethinking branches concludes with a look at the environments that Capital One, JPMorgan Chase, Virgin Money, and others have created.
Generative AI and embedded finance popped up across a host of conversations—we give our take on how firms should approach these innovations.
Midsize lender hopes to avoid making dyslexic déjà vu headlines: Unlike First Republic, Philadelphia-based Republic First has hung onto its deposits—so far anyway.
This is not your grandfather’s bank branch: Digital pods, flagship branches, showrooms, and lounge-like café branches are just a few of the innovative environments that banks and credit unions are creating.
Disputes have blown past pandemic-era highs, leading to more overall fraud
The card will benefit from the popularity of gaming but is entering a precarious credit card market
Credit cards are enjoying a volume boost from growing travel demand
Why empty offices may be the biggest threat regional and community banks face: Investors and regulators see heavy portfolios of commercial real estate as flashing danger signs. Let’s hope depositors remain calm.
Rethinking the customer experience within the branch: Financial institutions can learn a lot from other verticals that maintain both an online and brick-and-mortar presence.
The agency argues Big Tech’s dominance over the mobile payment method limits innovation and competition. But crafting new regulation could take years
Open banking-powered payments can help merchants save money, reduce fraud, and increase conversion rates
In the wake of the disruption, Shift4 Payments offered a bonus for merchants to switch to their POS system
In 2023, 92.3% of the 5.2 million accounts opened digitally will be with incumbent banks. Even Gen Zers—the main source of account opening growth—will largely opt for trusted institutions. Neobanks will be left in the dust, especially as fintechs and Big Tech siphon away customers.
Overdraft fees fell 11% year over year, but they’re still widespread: A look at the fees banks are charging for overdrafts, nonsufficient funds, ATM usage, and checking accounts shows regulatory scrutiny can be a great motivator.