Flush with cash, many commercial firms are also opting to pay down debt rather than take on new loans, and those seeking financing aren’t always turning to banks to meet their needs.
Systems that run cash management services were built decades ago and prioritized functionality over user experience. That is starting to change as banks invest more heavily in digital upgrades geared toward commercial customers.
Bank earnings rose nearly 11% in the second quarter, according to the FDIC; Goldman lobbying to kill or weaken the rule to boost its bond trading performance.
U.S. Bank has begun using Einstein, Salesforce’s AI software, to give front-line staff insights into customer activity and recommendations. Other banks are likely to add similar tools.
Revenue growth in its merchant payments business is expected to be tepid in the foreseeable future. The Minneapolis company says it is looking to ramp up innovation to stay competitive in a business that has been upended by fintech firms and online shopping.
The following are some of the noteworthy things we heard at American Banker’s Digital Banking 2017 conference held earlier this month in Austin, Texas.
Tim Welsh will succeed Kent Stone, who is retiring. In his new role, Welsh will oversee the bank’s overall consumer and small-business strategy, as well as digital activities.
