Branch banking

The North Carolina-based company said it expects to close about 4% of its branch network, or roughly 80 offices, by the end of the first quarter. The closures come amid Truist's $750 million cost-cutting initiative.

Overall merger-and-acquisition activity proved modest across the banking sector, but several prominent deals were reached. Read on for details of the year's biggest transactions.

The vote by workers in a New Mexico branch is the first union victory at a megabank in decades, though unionization efforts at another Wells branch took a step back.

The Cincinnati, Ohio, bank also promoted three other top executives to new roles. All of the changes will be effective in early 2024.

Across the industry, the pace of branch shutdowns slowed this year. Still, large financial institutions continued to trim their physical footprints, with two super-regional banks taking the most aggressive actions.

Xu Guojun, a former local branch head at Bank of China, was handed a life sentence over one of the Asian nation's biggest bank frauds.

The nation's largest bank has already completed many of the branch closings that can boost its earnings, leaving it with "less and less accretive opportunities to consolidate," according to a top executive.

Unions have historically had little success organizing bank employees, but recent high-profile gains for the labor movement have fueled hopes that will change. The two elections at Wells Fargo will be a test.

Diebold Nixdorf is using artificial intelligence to spot trouble proactively — a move that has already increased ATM uptime by up to 3.5%.

NCR Atleos and Diebold Nixdorf are signing deals that grant access to other industries and regions where there's demand for self-serve cash access — with additions such as artificial intelligence and better security.