Marketing

The company says that marketing its deposit products could help build deeper customer relationships, particularly with student loan borrowers. “We're not just a credit card issuer,” CEO Roger Hochschild told analysts.

Lincoln Parks at Heritage Bank in Georgia built from scratch its social media following, a digital-only way to open accounts and (in 48 hours) a Paycheck Protection Program lending system. For these and other efforts, Parks is a runner-up for American Banker’s Digital Banker of the Year.

The credit card issuer benefited from consumer loan growth in the third quarter, but investors seemed spooked by increases in its marketing and technology costs.

Banks generally did not curtail loans to existing cardholders last year despite mass unemployment, according to new research by the Consumer Financial Protection Bureau. The results contrasted with what happened during the Great Recession.

The banking industry is now enjoying a "strong" reputation overall, after building on gains made at the height of the pandemic. Here's who stood out and why.

Pro basketball sponsorships have long been the domain of banks and other traditional advertisers. But now companies like Chime, LendingTree and FTX.us are making their names known through partnerships with NBA teams.

The agreement will likely end a three-year-old dispute over allegations that the company misled borrowers by promising no hidden fees on its consumer loans.

While most financial institutions have been focused on upgrading their digital channels, Andrews Federal Credit Union in Maryland listened to its customers and modernized its newest branch. Among the new features are video teller machines, touch screens offering online and mobile banking tutorials and a game area for children.

The regional bank wanted to make more timely and relevant offers to its customers, especially in the realm of online and mobile banking. It worked with several vendors on a system to analyze customers’ activity and push out personalized recommendations.