This inaugural study ranks 10 leading cash-back credit cards (with no annual fee) by the degree at which they offer 49 emerging cash-back credit card features, weighted by how highly cash-back credit card prospects value those features.

To provide a like-for-like comparison, we only ranked the top 10 banks or credit unions by asset size in this study. Adding more banks, such as the top 20, would require a higher sample size survey, as we needed a sufficiently high n-size for each bank.

“We look at everything, running industry scans all the time,” said Kathy Ward, senior vice president of digital channels at Navy Federal Credit Union. “We’re watching Big Tech, we’re watching fintech,” Chase’s Allison Beer said. “It may be totally unrelated to financial services.”.

For a deeper dive into thoughts from the chief marketing officers at 10 of the most innovative banks, credit unions, and neobanks in the US and Canada, read “The Banking CMO Report: 15 Leaders on Priorities, Challenges, and Opportunities.”.

The credit union offers all seven category tools, including the two most sought-after ones: the ability to activate a new debit or credit card and receive a temporary digital card that can be used immediately at sign-up. Chase tops the Transfers category.

The term “bank” retains its power, whether used for the term “neobanks” or in branding the new neo-credit-union Bank Dora. Consumers have deeper trust in banks and banking. Breaking things and introducing new products is overrated compared with how banks balance supporting legacy systems, being secure, and innovating. If multitasking isn’t being innovative, what is?

For context, penetration in this channel is defined as the percent of internet users ages 18+ who access their bank, credit union, credit card, or brokerage account digitally via any device at least once per month. The following drivers will inform the growth in Canadian digital banking penetration through 2024:.

“Penetration” is defined as bank account holders ages 18+ who visit a bank, credit union, or brokerage branch at least once per year. UK: Branch penetration in the country will decline from 65.3% in 2019 to between 60% and 62% in 2024. Temporary branch closures during the pandemic accelerated a trend of UK banks scaling back their physical footprints to rein in operating costs.