Facing persistently low loan yields, increased competition and higher regulatory costs, many community banks are at risk of becoming irrelevant unless they rethink their business models.
The loan product, which allows consumers retroactively to adjust a payment amount, illustrates how community-based institutions are trying to reach technologically savvy consumers.
Small-business credit is poised for a shakeout. In the coming months, partnerships between banks and fintechs will increase, and credit models will be refined.
Banks that find true innovation hard to accomplish can take heart — it’s no picnic for startups either. To hear both sides share their challenges is an argument for collaboration.
Industry observers are skeptical of acting Comptroller Keith Noreika's claims that his agency could grant a fintech charter to a commercial firm like Amazon or Google, arguing that such a move could become "Walmart 2.0."
The explosion of interest in digital assets this year, and the multiplying of their market value, are making cryptocurrency debit cards newly attractive. Banks could partner with intermediaries or issue the cards directly, but obstacles remain before that day can arrive.
Tim Welsh has spent his first two months on the job thinking about how to make U.S. Bank as central to consumers’ lives as Amazon, develop new personal financial management services, and expand into new cities.
Meetings between bank regulators and technology giants like Amazon and PayPal underscore Silicon Valley's growing involvement in the financial services arena, and may presage pursuit of a bank charter.
Citi’s innovation leader, Yolande Piazza, envisions reinventing the way the bank interacts with customers, so that it is part of their daily lives — always present, always intuitively easy and always helpful.
