The Midwest bank said that digital usage rose 400% after a makeover of online and mobile banking platforms that was meant to make them more customer-friendly, more competitive with big banks and quickly responsive to customer feedback.
Increased investor appetite and the emergence of specialized debt ratings are expected to spur demand, and community banks are looking for ways to fund expansion and hedge against future economic downturns.
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Top executives at nineteen regional banks sent a letter to the Senate Banking Committee endorsing a bill that would change the systemically important financial institution threshold from $50 billion in assets to an indicator test.
Federal Housing Finance Agency Director Mel Watt said the agency is poised to examine alternatives to how a Fannie Mae and Freddie Mac assess creditworthiness of home buyers, including seeking public comment on the issue later this fall.
Center for Financial Services Innovation
The Consumer Financial Protection Bureau made it clear that consumers own their financial data and can share it with apps of their choice. Now it’s up to the industry to resolve thorny issues on liability and accountability.
Personalized experiences are becoming more prevalent in banking with digital assistants and apps, thanks to AI. Getting more women on boards is part of the job for JPMorgan Chase's Karen Simon. Why aren't 'good guys' better allies? (Carrie Fisher sure is.)
In many countries, customers bank for free, but the reality is the poor largely subsidize “free” banking services through overdrafts and consumer loan payments. This model is seriously flawed, but it is about to change.
While bank executives are divided on what they view as an optimal outcome for Fannie Mae and Freddie Mac, there is broad agreement that a future without them (or some government-supported equivalent) would mean tighter credit, higher rates and lower volume.
Recently, the Aite Group surveyed 1,000 U.S.-based businesses generating between US$100,000 and US$20 million in annual revenue with the intention of understanding how well US-based small businesses are being served by their bank partners.
M&T Bank has embarked on an epic quest to put the customer at the center of everything the company does, launching a multi-year, enterprise-wide effort to modernize and centralize the management, delivery and measurement of all outreach to customers and prospects.