Digital banking

Should banks be worried about skyrocketing fintech valuations?

10/26/20

Speculation is part of the reason for the growing differential in market capitalization between legacy financial institutions and upstarts. But one venture capitalist says it's "a call to action" for traditional banks to match fintechs' all-digital, customer-friendly services.

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Virtual branch concept making inroads in U.S.

10/23/20

Foreign banks for years have been using technology that folds several communication and information-sharing capabilities into one platform. Now Citigroup and others here are showing interest because of the growing importance of digital in the pandemic.

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Google, IBM rush to sell banks cloud software

10/22/20

As the pandemic speeds digital adoption at financial institutions, the technology giants are pitching products that scan in data from mortgage documents and provide security and compliance controls used by in-house tech developers.

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A debit account that rewards users for shopping at Black businesses

10/22/20

The media company Urban One has launched a new account that includes a prepaid debit card and encourages customers to buy from Black-owned business and lets them donate their cash back to charity.

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Umpqua to close branches, reduce office space over next two years

10/22/20

The Oregon company unveiled a sweeping cost-cutting plan that includes more remote work opportunities and up to 50 branch closures.

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Fulton in Pennsylvania begins cost-cutting effort

10/22/20

The company will close branches and cut jobs, with plans to reinvest some of the savings into digital enhancements.

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What's in, what's out as KeyCorp resets consumer strategy

10/21/20

The Cleveland company will exit indirect auto lending and close branches so it can devote more resources to mortgages, student loans and other relationship-driven, digital-friendly businesses.

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Ex-Trump adviser Cohn predicts bleak future for community banks

10/19/20

Gary Cohn, former head of the Trump administration’s National Economic Council and onetime top executive at Goldman Sachs, says technological changes will continue to make it harder for smaller financial institutions to compete and force many to be sold.

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Regions using AI to make most of customer feedback

10/18/20

Over the past year, the Alabama bank has been developing new tools that analyze survey responses, phone interactions and social media posts to identify opportunities to improve digital offerings.

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USAA's OCC fine, Citi mum on risk rehab, no digital bank for PNC: Top stories of the week

10/16/20

USAA's regulatory troubles now include OCC fine, CRA downgrade; Citi CEO Michael Corbat and CFO Mark Mason dodged questions on cost of risk overhaul; PNC unlikely to buy a digital bank, CEO Demchak says; and more from this week's most-read stories.

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