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Citigroup, the world’s largest credit card issuer, is looking to jump-start efforts to acquire new cardholders after the pandemic caused it to curtail such activities last year.

The bank will instead concentrate on wealth management in Europe, Asia and the Middle East; cash-heavy consumers are unlikely to default but also less likely to want new loans.

While accounts payable systems are adjusting to decentralized work, it's unrealistic to expect a complete migration overnight, says Proactis' Michael Ereli.

Amid success stories like Apple Pay, Google Pay and the Starbucks app, there are many wallet apps that failed to gain traction — or squandered it when they did. But there is a lot to learn from their experiences.

Zions Bancorp. CEO Harris Simmons says the Secured Overnight Financing Rate is more suited for derivative traders than regional banks as a replacement for Libor. His bank this week became the largest to say it would use the alternative developed by the American Financial Exchange.

Some institutions for more than a year have reduced or eliminated overdraft and funds transfer fees to help members hard hit by the economic downturn, but it's unclear how much longer they can keep coasting on other sources of noninterest income.

After just 45 days on the job, the Citigroup CEO is jettisoning uncompetitive overseas operations, vowing to ramp up wealth management and touting the long-term importance of the company’s Banamex unit. More moves are on the way, she says.

The company’s payments services business has struggled during the pandemic, but executives are counting on commercial clients’ embrace of real-time payments to help fuel the unit’s growth in 2021.

The San Antonio company will no longer charge fees on transactions of $100 or less that take checking account balances into negative territory, as long as the customer has a $500 monthly direct deposit set up.

BofA is awash in liquidity, but an uptick in credit card applications and heightened interest from commercial borrowers have executives hopeful that loan demand will soon rebound.