Nearly 60% of people thinking about switching banks would be open to banking with a big tech company if they ever get that option. Cash incentives or existing savings accounts are big factors in consumer decisions — and things that banks could keep in mind in their efforts to recruit or retain customers.
It’s still primarily a commercial bank, but the branding campaign — CIT’s first in a dozen years — is designed to appeal to the group driving its torrid deposit growth: retail savers.
Michael Hanley, former head of digital for the World Economic Forum, and Anthony Thomson, the creator of Atom Bank, share their thoughts on the future.
The Chicago bank's new partnership with AutoGravity mirrors others struck this year by JPMorgan Chase and U.S. Bank with providers of mobile apps that bundle the car-buying and lending processes.
The online lender has acquired NextGenVest, which uses AI and text messaging to advise high school and college students about getting loans. CommonBond’s goal is to better understand the distinctly different demographic group rising behind millennials.
The company, which helps banks develop high-tech products and services, has agreed to buy Gro Solutions after recently completing its deal for Cloud Lending.
To convince skeptical bankers about the benefits of distributed ledger technology, some suggest it needs to be separated from the volatile digital currency it underlies.
