From frictionless payments to improved underwriting models, connected cars will rewrite the rules for how and where banks interact with their customers.
Eastern Bank developed its own online lending platform to compete with the likes of Kabbage and OnDeck. It might now be able to cash in by licensing to other banks.
The San Francisco bank said Friday that it plans to close at least 400 branches over the next two years, part of an effort to reduce annual expenses by $2 billion.
JPMorgan Chase, Bank of America and PNC reported lackluster revenue growth as higher trading fees and increases in commercial lending barely compensated for consumer-side challenges.
