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Relying on your core system for a strategy, might be easy, but it also might be complex. Partnering with a variety of fintechs might be easy, but it also might be complex. Easy and Difficult Are Subjective When a bank talks about their strategy being “easy,” or “difficult” it is important to realize they are being subjective.
The post Gauging the Post-COVID Winners and Losers Among Banks & Fintechs appeared first on The Financial Brand. The impact of the pandemic and a global recession will reinvent banking. Exaggeration? Maybe, but can any institution afford to wait and see?
Senior executives reveal eye-opening digital growth statistics as the megabank unveils new mobile banking features and branch and ATM plans. The post Why BofA, not Fintechs or Amazon, Should Keep Bankers Awake at Night appeared first on The Financial Brand.
Fintech consultant and best-selling author David Peterson joined Glenn as a keynote speaker at this year’s event. Channeling his experiences gained over thirty years in the financial industry, he discussed security, payments, digital branchstrategy and digital personalization.
As cutting-edge fintech companies win the hearts-and-minds battle with fresh new banking solutions, doing things the way they’ve always been done is actually the riskiest move community financial institutions can make. There is certainly comfort in familiarity and tradition – but in the new fintech landscape, that kind of comfort kills.
Forced to move quickly to meet the spike in digital banking use, more banks and credit unions are closing the gap with fintechs. The post Pandemic Gives Traditional Banks a Rare Chance to Catch Up Digitally appeared first on The Financial Brand.
Fintech apps now face stiffer competition as large financial institutions have upped their game. But will the rest of the industry keep pace? The post Digital Wellness Tools Embraced by Financially Stressed Consumers appeared first on The Financial Brand.
Banking has been in the mega-retailer's sights for decades, but branches of its new fintech partnership in stores may not be in the cards. The post Will Walmart Become Another ‘Friendly Neighborhood Banker’? appeared first on The Financial Brand.
Fintechs and other new competitors grab headlines, but banks and credit unions must still compete vigorously with each other right at home. The post Taking a Hard Look at the Banks Versus Credit Unions Rivalry appeared first on The Financial Brand.
People are much more open-minded about using fintechs than you might think, especially for payments, and they predict far fewer branches. The post Consumers’ Surprising Views on the Future of Banking appeared first on The Financial Brand.
Find out what he thinks about customer expectations, bots, fintechs and the coming convergence of digital banking. The regional bank has consolidated all of its digital operations under a single leader.
Research on the future of banking finds that most changes in the future of banking will be evolutions of the more recent past. The post 14 Surprising Projections on the Future of Banking appeared first on The Financial Brand - Banking Trends, Analysis & Insights.
The offering of fee-free deposits at close to 9,000 locations in the U.S. by Chime is the latest salvo in a battle for a major segment of consumers previously ignored by traditional banks. The post Why Chime Should Keep Bankers Up at Night in 2022 appeared first on The Financial Brand - Banking Trends, Analysis & Insights.
The pandemic's impact has sharply revised the future of community and midsize institutions. Costs, revenues, distribution are all in flux. The post Outlook 2021: Banking Industry Trends & Challenges appeared first on The Financial Brand.
Maybe it's not quite the 'tortoise and the hare,' but a noted Accenture consultant says a surprise is coming for challenger brands. The post The Coming Convergence of Neobanks and Traditional Players appeared first on The Financial Brand.
Probably the best example of growing a franchise using branching (at least in the United States over the past 20 years), is Umpqua Bank. It grew from a small community bank to a west coast regional on the back of its innovative branchingstrategy (Warning! Do not try to copy this, it’s not 1995 any more).
Trust provides an edge over challenger banks, but things could shift quickly post pandemic, making it critical to have a clear digital plan. The post COVID Has Given Traditional Banks the Upper Hand: Are They Blowing It? appeared first on The Financial Brand.
Debate has begun over the need for tighter rules to protect urban and rural communities. Here's what it could mean for the industry. The post Will New Administration Rewrite the Rules on Banking Mergers? appeared first on The Financial Brand.
The big regional bank copes with the mounting competition by investing in its digital lending channel and redefining its branch network. The post KeyBank Fighting Megabanks & Big Techs With a ‘Digital-Plus’ Strategy appeared first on The Financial Brand.
Consumers have changed how and where they bank — increasingly even their primary accounts. Here's what incumbents must do to respond. The post The End of the Traditional Banking Relationship, and What’s Replacing It appeared first on The Financial Brand - Banking Trends, Analysis & Insights.
This article How a $1 Billion Community Bank Outperforms Industry Giants appeared first on The Financial Brand. Webster Five's retail banking chief shares how smaller banks can leverage technology partnerships and community focus to compete effectively with larger institutions.
Consider your branchstrategy. Assessing the value of bank branches is an exercise that began long before the pandemic, but vaccine and mask mandates added new considerations to the debate. Forge partnerships, especially with fintechs. My advice is to bring in young people and give them a wide berth.”. ?
I think banks are closing branches for one reason: to cut costs and prop up their earnings and boost their stock price." Clearly he is not attending FinTech conferences. I sometimes quip that FinTech prognosticators are like futurists. Much like the credit union CEO thinks his branchingstrategy differentiates his CU.
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