Macroeconomic and geopolitical concerns are forcing Canadian financial institutions to address issues surrounding consumer financial health, US acquisitions, and a potential fintech flameout. In the long term, open banking, digital transformation, and omnichannel personalization will pose unique challenges.

A looming recession and global turmoil threaten US incumbent banks’ bottom lines. But refocusing on core tech priorities and consumer needs will help banks reclaim the high ground in the fight for customers and talent.

The US mortgage debt balance will hit $14.412 trillion in 2022, as consumers continue to snap up homes at a pace not seen since before the Great Recession.

The profitable fintech is expanding its product suite and will create its own loan-servicing platform—an IPO figures in its long-term roadmap.

Despite the decline in total ad spending in the US this year, the financial services industry will increase its digital ad outlays. Why? The pandemic has caused many consumers to reassess their personal finances and change how they bank, leading the financial services industry to continue spending on digital ads during the pandemic.

More than half of US adults ages 18 to 34 said they’re concerned about being able to pay their rent or mortgage in the next few months during the coronavirus pandemic, according to a recent survey from LeanIn.Org and SurveyMonkey. In contrast, fewer respondents (38%) ages 35 to 64 felt the same way, while 14% of those 65 and older agreed.