Expense management

The Wisconsin banking company recently agreed to subscribe to five solar gardens to trim power costs at 39 branches. The move, part of a broader sustainability push, also could benefit rural communities, Associated said.

The company said it had cut 20 positions and found a way to shed 35,000 square feet of office space by the end of 2020.

Some institutions may want to consider self-insurance to lower expenses as the coronavirus cuts into earnings.

Credit unions are once again opposing language in draft legislation of the 2021 National Defense Authorization Act that would allow banks to rent space on military bases for free.

The company is partnering with Sensibill, a fintech whose technology turns photos of receipts into text and helps people track and manage their expenses.

Past is not prologue, and a successful strategy for becoming a top-performing bank in 2020 is very different from what it might have been just six months ago.

Faced with limited growth opportunities and potentially mounting loan losses, banks are getting aggressive — and creative — to boost profits.

Expenses soared in the rush to deploy emergency loans to small businesses, and now Bank of America may need to delay some investments if it hopes to meet cost targets, CEO Brian Moynihan said.

The Ohio company said the decision reflects branch overlap and lower customer usage of the locations being shuttered.

Not everything is in decline. T&E approval processes need to be ready for spikes in invoices for streaming content, tele-meetings and remote technology rather than air travel and hotels, said AppZen's Uri Kogan.

The Georgia bank could rely more on drive-through-only branches, trim office space and reassess staffing levels after the coronavirus crisis, according to Kessel Stelling.

First Horizon still plans to complete its merger with Iberiabank on time, CEO Bryan Jordan said during the Tennessee company's earnings call.

Executives say they can still meet their goal of $480 million in cost savings this year from the combination of BB&T and SunTrust despite unexpected expenses, unless the economy fails to rebound quickly.

Cobalt Credit Union is currently a state-chartered institution but is looking to once again become a federal one because of Iowa state taxes.

Margins will be squeezed after the Federal Reserve lowered interest rates earlier this month to counteract the economic fallout from the coronavirus.

The bank still plans to open branches on the West Coast even as it trims its overall U.S. footprint by 30%.

The bank's announcement that it will slash about 35,000 staff and take $7.3 billion of charges prompted its stock to tumble and renewed questions about the bank's direction and lack of a permanent CEO.

As faster payments change how quickly companies get paid, these same organizations are looking to add speed to the way they manage internal expenses.

The tight labor market and public pressure to raise minimum wages are expected to nudge noninterest expenses upward in a year when the watchword is cost control.

Emburse, a new consolidation of several corporate expense management platforms, now supports instant reconciliation of business expenses at the moment the transaction occurs.