Executives at BB&T, KeyCorp and Citizens are milking commercial lending niches and balancing cost control with new investments while waiting for more rate hikes to fatten margins.
Banks have long believed that the key to sparking mobile payments is better incentives, but U.S. Bank is taking that to the extreme with a new product that pays triple points for such purchases.
Attacks on ATMs and point-of-sale machines are getting more sophisticated and frequent. Crooks are trying to get as much use as they can out of their skimming devices before the migration to chip cards is complete.
For all the talk of co-optation and partnerships with banks, financial services startups are doing well in underserved niche markets such as actors and musicians.
Leaked documents appear to show NSA analysts were able to hack into Middle Eastern banks’ servers through the Swift service bureau EastNets. The same tools could conceivably be used by cybercriminals and nation-states with more sinister motives.
Tangerine Bank, the digital lender owned by Bank of Nova Scotia, will start offering credit lines this year as it seeks to boost revenue and bolster flagging profit through expanded product offerings.
