Digital banking

How this bank’s digital brand is succeeding where others have failed

02/16/21

Others, like JPMorgan Chase, have shut down their mobile-only brands. But Rising Bank, Midwest BankCentre's three-year-old neobank, is meeting its deposit goals, adding new products and avoiding cannibalization, says Dale Oberkfell, the bank's president.

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First Horizon experiments with taking core to the cloud

02/08/21

The regional bank is switching VirtualBank, a digital-only unit added through a recent merger, to a core system that relies on Finxact software and Amazon Web Services. The move epitomizes the industry's cautious approach to cloud-based technology.

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Community bank enlists Coinbase, SAP to offer crypto

02/03/21

Vast Bank in Oklahoma is one of the first to allow customers to purchase digital currencies, a market that has proved lucrative for fintechs.

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BMO’s Johannson plans digital upgrades to boost lagging returns

02/03/21

Canada’s fourth-largest bank is pressing ahead with big technology investments to cut costs and try to generate more revenue from existing customers, said Erminia Johannson, BMO’s head of personal and business banking for the U.S. and Canada.

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Crypto exchange Gemini moves toward mainstream

02/02/21

Gemini Trust now offers a credit card and an uninsured savings account for bitcoin holders that pays 7.4% interest. It is the latest example of a cryptocurrency company marketing banklike products.

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BofA’s goal for digital banking: No customer left behind

02/01/21

About 70% of Bank of America's customers are now “digitally active” and 17 million people use Erica, its virtual assistant. David Tyrie, who was recently promoted to head of digital, would like to get that rate up to 100%.

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Biden's broadband plan will help banks reach new markets

01/29/21

The administration’s initiative to offer universal high-speed internet service is a chance for bankers to provide underserved households with access to online financial education and low-cost digital accounts.

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M&T teams with fintech to help small businesses manage cash flow

01/28/21

The Buffalo, N.Y., bank and Railz will counsel clients that have uneven revenue streams and are unable to predict when they'll land new business.

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JPMorgan plans retail bank expansion abroad with U.K. foray

01/27/21

The bank will start with a mobile checking account for U.K. customers this year, followed by a full slate of products that could include credit cards, mortgages and car loans.

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Synovus raises cost-cutting goal, preaches patience

01/26/21

The Georgia company increased its target for annual expense cuts and new revenue to $175 million from $100 million. But executives warned that low interest rates and weaker mortgage volume, along with a need to invest in technology, will delay some of the bottom-line benefits.

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