Competition for deposits is heating up as summer approaches, and banks are responding in all sorts of ways — from launching digital-only platforms to raising CD rates to reviving debit rewards. But rising interest rates could weaken demand for loans, especially mortgages.
Ctizens Financial Group is partnering with IBM to develop a virtual career coach that will use artificial intelligence to help employees set career goals and determine what kind of training they need to develop new skills.
Household debt is higher than ever, and delinquencies in credit cards and unsecured personal loans are edging upward. Bruce Van Saun, chairman and CEO of Citizens Financial, shares his views on the market and the business opportunities there.
Citizens Financial Group plans to merge its two banking charters into a single national bank. The move would make the OCC the bank's primary regulator and eliminate the costs of dealing with the FDIC and state officials.
A bank that can deliver a loan decision a little faster, or ask a client to input information just once, could get a leg up on the competition. But some executives are skeptical of software sales pitches and fear overpaying.
