Eight banks and three other FIs will pay a combined $1.8B for their message retention failures, highlighting the need for better tech tools at work.

Two green banking groups are going about cutting carbon emissions in very different ways.

Incumbent banks remain firmly in the lead against neobanks on digital trust—but there are threats to keep their eyes on.

US banks are facing a consumer crisis of faith amid market turmoil. The trust-building actions banks take now will determine how their customer relationships fare in the future.

Wall Street banks are expected to face more than $1B in fines over traders’ use of private messaging apps.

Banks’ continued investment in marketing, led by the sales of products and solutions to the mass affluent, signals sustained growth in digital ad spending on the heels of a historic snap back in budgets since the pandemic—despite a looming economic downturn.

The lender said “healthy spend levels” boosted Q2 earnings, in line with other issuers.

The CFPB and OCC claim BoA’s faulty program automatically froze accounts, causing customers to miss out on deserved benefits.

Life is good for credit card issuers, but worsening economic conditions could endanger their $160 billion revenue stream. They must act decisively to ensure they’re still meeting consumers’ changing needs.

Market growth for small- and medium-sized businesses (SMBs) has been on the rise for the last few years. But with recession looming, payment service providers (PSPs) need to pivot to helping clients keep their doors open, or else risk losing ground.

In 2022, US consumers will collectively open 13.1 million new bank accounts via digital channels, per our estimates. We stack up the mobile account opening experiences of the 10 largest US banks (by domestic asset size) and the four largest US neobanks (by users) based on our analysis of 35 emerging features.

Chatbots that use more advanced AI algorithms could give customers a seamless experience transitioning between technology and humans.

Capital One was the most downloaded US banking app between January and April 2022, with 5.0 million net new installations. Digital-only contender Chime took the No. 2 spot, with 4.7 million, while Chase came in third, with 4.1 million net new installs.

With more than 6 in 10 smartphone users adopting mobile peer-to-peer payments in the US across multiple apps, providers are looking to widen their addressable base, mitigate pain points, and drive engagement.

Technology decision-makers within the banking industry will need to justify tech plans if spending growth is to remain steady.

Neobank and Big Tech competition, rising mobile adoption, and new touchpoints like the metaverse are pushing banks to rethink their branch footprints. They must react to evolving consumer banking preferences so they can future-proof their branches.

A J.D. Power survey found they’re dissatisfied with support they receive during economically challenging times.

Seven major US incumbents are partnering to roll out a service that lets consumers share financial data with participating businesses.

Increasing digitization among the 32 million US small businesses is changing the competitive landscape and forcing banks, acquirers, and fintechs to invest in next-generation features. These features range from payments and value-added services to outreach.

The super app model is moving to the West and will upend how consumers interact with financial services. Banks must start preparing now to make the changing tide work to their advantage.