The Pittsburgh company’s “branch lite” approach to retail and middle-market banking in new markets will break even sooner than expected and has had a noticeable impact on loans and deposits.
During the firm's earnings conference call, Chairman and CEO David Solomon attempted to reassure investors about the costs of Marcus, declining to say when the investment bank might break even on the initiative.
Community banks and credit unions are eager to innovate, but technology upgrades must be done first, says Bruce Lowthers, FIS banking solutions president.
Two new surveys have found that most consumers would prefer to stash their cash in traditional banks. But there's one group of savers who would be very comfortable opening accounts with tech giants if given the opportunity.
Majority, which will launch nationwide later this quarter, will use networks of immigrants to sell a mobile phone-based account that features unlimited remittances and international calling services.
Renaud Laplanche, one of the first fintech disruptors, is launching an unusual type of credit product at Upgrade, his new company, that is a cross between a credit card and an unsecured loan.
The court passed up a recent opportunity to clarify confusion about Americans with Disabilities Act requirements for business websites, raising concerns among bankers that they could become an even more inviting litigation target.
