Bank of America introduced "Capital Markets Insights" on its CashPro® App for US-based clients, providing a centralized mobile view of market and investment-grade issuance data, per a press release. This aims to simplify debt issuance decisions for CFOs and treasurers. Moving all valuable information to one mobile app is a tried and true strategy for increasing mobile app engagement and improving customer retention—because those customers don’t need to go elsewhere to accomplish their banking tasks. This is an important step to retain and deepen relationships with corporate clients by integrating high-value, previously fragmented capital markets data directly into clients’ workflows.

Schwab is making a decisive move to serve ultra-high-net-worth (UHNW) clients, those with at least $30 million to invest, per Investopedia. To accomplish this in a segment traditionally dominated by larger competitors, the firm plans to open 16 new branches, expand or relocate 25 existing branches, and hire over 400 new branch staff. Schwab is covering its competitive bases by leveraging its existing robust digital platform with a newly enhanced network of high-end, strategically placed branches. With 43 million accounts across its brokerage and banking divisions, this strategy is designed to poach assets from competitors and seamlessly graduate non-UHNW clients into higher-end, enhanced service accounts.

The Royal Bank of Canada (RBC) plans to grow its US banking operations by acquiring highly sought-after wealth-management firms, per Private Banker International. According to CEO Dave McKay, the bank wants advisers who can attract new clients as well as firms that bring in sweep deposits, which will strengthen RBC’s funding base. With this strategy, RBC intends to build, scale, and deepen client relationships quickly, leveraging existing capital strength. But because the US wealth market is very competitive, RBC must prioritize building its US brand recognition to bolster its chance of post-acquisition success.