The Midwest bank said that digital usage rose 400% after a makeover of online and mobile banking platforms that was meant to make them more customer-friendly, more competitive with big banks and quickly responsive to customer feedback.
The Wyomissing, Pa.-based firm is forgoing cash offers in favor of a more complicated plan that involves spinning the unit off to shareholders, who will then trade their stakes for shares in a Clearwater,Fla-based community bank in a tax-free exchange.
In many countries, customers bank for free, but the reality is the poor largely subsidize “free” banking services through overdrafts and consumer loan payments. This model is seriously flawed, but it is about to change.
BBVA has launched a new mobile app that is designed to help people in the U.S. send money to friends and family in Mexico — more quickly and cheaper than traditional remittance methods.
Readers weigh in on how women can advance in business, the regulatory playing field for banks and nonbanks, the CFPB's payday loan rule, ATM withdrawals made through mobile wallets, and more.
Banks such as Citigroup, Regions and TD have decided they need to offer mobile customers truly customized experiences. They are experimenting with different ways of doing so that come across as helpful without being intrusive.
Consumers are looking for high-tech services, not just higher deposit rates, in deciding where to park their cash, a top JPMorgan executive said in discussing the company's explosive deposit growth in the third quarter — and whether it will continue.
In experimenting with a chatbot on its mobile app, TD Bank will have to tackle the same issue facing several of its rivals — how to automate conversations with consumers and decide at what point it’s time to switch to a human.
The big four core vendors have had little incentive to innovate in recent years. But newer competition will force them to update their technology if they wish to survive the digital age.
