US banking digital ad spending growth has slowed to a trickle and pushed marketers to rethink their allocation strategies. But 2024 looks more promising.

In 2023, 92.3% of the 5.2 million accounts opened digitally will be with incumbent banks. Even Gen Zers—the main source of account opening growth—will largely opt for trusted institutions. Neobanks will be left in the dust, especially as fintechs and Big Tech siphon away customers.

Bank of America leads US banks in Instagram followers: Social media’s influence on Gen Z’s financial behavior underscores its importance in marketing campaigns.

Growing debt, high interest rates, and recessionary threats could spell trouble despite the positive spending patterns

A report shows some big financial brands slowed their ad spending well before the unwelcome publicity around the regional banking crisis.

Apple’s headline-grabbing buy now, pay later (BNPL), savings, and credit card products are just one part of the threat it poses in consumer banking: Its digital platform delivers an almost unbeatable user experience (UX) and is tailor-made for Gen Z. Banks must adapt quickly or risk losing market share.

We round up how some large financial institutions are currently testing AI for front- and back-office functions.

JPMorgan is opening more branches and launching AI-powered tools to woo new customers.

Cryptocurrency volatility has tempered expectations for crypto payments. But it hasn’t erased them: Retail, remittance, and cross-border B2B payments remain in growth mode.

SVB leaves void of startup support in its wake: Depositors may get their money back but they’ll lose the go-to institution for young companies accessing capital. Brace for startup failures.

Economic uncertainty and rapid technological innovation are shifting industry dynamics for players across the payments ecosystem, including acquirers and processors, networks, and issuers.

ES: Microsoft’s Bing AI has a huge price tag: The tech giant’s cavalier commercialization of generative AI has uncertain profitability. High compute costs are passed on to developers as other challenges mount.

Major banks are jointly developing a digital wallet to fend off competitors. But the execution must be flawless to succeed.

This year will be a litmus test for trying new things. Payments incumbents that embrace change on their own terms will emerge stronger than before.

This sixth annual study ranks mobile app capabilities across 20 US financial institutions on 42 emerging features, weighted by consumer demand.

Wall Street’s biggest banks are likely to suffer from the slowdown in M&A, shrinking profits, and could set aside $4.5B to cover bad debt losses.

Proximity mobile payment growth in Canada is stagnant, posing a challenge for providers. We expect them to counter this trend by boosting customer engagement rather than seeking out new users.

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.