John Rosenfeld once led the A-Team of a free-fall parachute unit. Now he's taking a different kind of leap, spearheading the creation of the institution’s first digital-only bank.
More businesses are considering moving away from cash and checks, according to a recent survey by Citizens. That should be a wake-up call to smaller institutions, said Michael Cummins, who oversees treasury solutions at the regional bank.
The Rhode Island bank’s deposit costs nearly doubled in the first quarter, but CEO Bruce Van Saun says it has to go on the offensive to sustain loan growth.
An executive at the Rhode Island company said the complexity of business lending remains an obstacle to switching to entirely automated, paperless operations.
One bank is tracking the habits of its 4.4 million customers, giving them discounts on services if they visit the gym or get a flu shot. Other companies may soon follow suit.
Time and again, two former associates of President Trump deceived banks in connection with loan applications. Their wealth, proximity to power and willingness to tell big lies all appear to have helped them get away with brazen schemes.
The Providence, R.I., company reported a 27% gain in profits thanks partly to a boost in fee income from its purchase of Franklin American Mortgage in August.
At Beth Johnson's insistence, the bank built an analytics platform that can anticipate customers' needs. It's an investment that is paying off in big ways.
