Home equity lines could double over the next six years. Some banks are actively pursuing the consumer credit opportunity, whereas many still feel stung by the housing crisis, unimpressed by home equity’s comeback so far or fearful of nonbank competition and fraud.
Banks such as Citigroup, Regions and TD have decided they need to offer mobile customers truly customized experiences. They are experimenting with different ways of doing so that come across as helpful without being intrusive.
Some banks are experimenting with virtual assistants that, going beyond the routine tasks they perform today, could offer investment advice or make mortgage loans 24/7. But will they ever be able to talk a nervous client through a market crash?