Retail: Page 59
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Q&A
How Mambu plans to expand in North America's core banking market
"Because of the agility of our technology, we were able to quickly say, 'If we can do this for lending, then let's look into banking,'" said Johanna Pugh, a managing director with the company.
By Anna Hrushka • June 15, 2020 -
Goldman, Amazon to launch credit line for small businesses
The deal marks the second time in a year that the investment bank has partnered with one of the big four tech giants, following the August launch of the Apple Card.
By Anna Hrushka • June 11, 2020 -
Explore the Trendline➔
wildpixel via Getty Images
TrendlineThe Banking Dive Outlook on 2022
Some narratives in 2022, such as office returns, will seem like a logical progression from the year before. Others, such as the regulatory sphere and shift toward smaller M&A, may mark a big shift from the previous 12 months.
By Banking Dive staff -
Will COVID-19 push contactless payments into the mainstream?
Reports show contrasting figures on the adoption of touch-and-go tech, but the coronavirus — and perhaps a push from card issuers or retailers — may prove the catalyst to change consumer behavior.
By Tatiana Walk-Morris • June 11, 2020 -
Permission granted by Truist
Truist's BB&T app tops J.D. Power mobile banking satisfaction study
The award comes as the company builds an app that combines the best features from BB&T and SunTrust's legacy products, Truist's chief digital and client experience officer told Banking Dive.
By Anna Hrushka • June 10, 2020 -
3 in 4 bankers think AI will separate 'winners from losers,' survey finds
Nearly 60% of respondents in a Temenos survey agreed branch banking would be dead by 2025, as AI enables banks to experience customer service, safety and security benefits.
By Anna Hrushka • June 9, 2020 -
Bank of America, U.S. Bank, PNC and others pledge millions toward racial equality
The nation's second-largest bank added $250 million — and another year — to its previous commitment, fueled by a focus to counteract anti-Asian hatred.
By Anna Hrushka • Updated March 31, 2021 -
Permission granted by Current
Q&AHow digital bank Current builds products for essential workers
The coronavirus pandemic "has really cleared up who is providing value and who is not," CEO Stuart Sopp told Banking Dive.
By Anna Hrushka • June 4, 2020 -
Courtesy of Wells Fargo multimedia resources
Big banks took $11.7B in overdraft fees last year, nonprofit says
About 9% of account holders paid 84% of the $35 fees, according to data from the Center for Responsible Lending, which wants regulators to bar banks from charging for negative balances during the pandemic.
By Dan Ennis • June 4, 2020 -
Varo secures $241M in funding as it prepares to become a bank
The challenger is undergoing a pre-opening examination with the OCC, which means the bank could launch in 60 days or less.
By Suman Bhattacharyya • June 3, 2020 -
Jeff Swensen via Getty Images
PNC applies to close 29 branches in August
A PNC executive said in November that the bank would consolidate 80 to 100 branches per year over the next five years. The latest filing would nearly double — to 60 — PNC's branch closures in 2020.
By Dan Ennis • June 2, 2020 -
Permission granted by Office of the Comptroller of the Currency
COVID-19 lockdowns threaten banking system's stability, OCC says
"Requiring businesses to remain closed decreases businesses' ability to service their debt, thus increasing default risk in the banking system," the regulator's acting chief said.
By Anna Hrushka • June 2, 2020 -
U.S. Bank branch closures could accelerate amid pandemic
A 17% to 35% jump in digital activity would have occurred in branch before the coronavirus outbreak took hold, CEO Andy Cecere said.
By Anna Hrushka • May 29, 2020 -
Citi aims to bring 5% of US employees back to offices July 1
The bank plans to maintain that level of staffing through Labor Day, assess the results, then increase capacity toward 30%, a person with knowledge of the plan told Bloomberg.
By Dan Ennis • Updated June 11, 2020 -
Banks face logistical, security challenges with branch reopenings
The right date to allow lobby foot traffic — and the proliferation of face masks — present just two tests in post-pandemic banking.
By Anna Hrushka • May 28, 2020 -
Permission granted by Provident Bank
Pandemic not discouraging Provident Bank's acquisition plan
"When we announced the deal, the market was getting hammered," Provident Bank CEO Chris Martin told Banking Dive. "We're going to be better together than separate, so why not continue?"
By Anna Hrushka • May 27, 2020 -
Challenger bank Stilt eyes immigrant market for loans, bank accounts
Rohit Mittal slept on a couch at Columbia University his freshman year because he couldn't get an apartment after coming to the U.S. from India. He started a fintech so other immigrants wouldn't have to.
By Kate Patrick Macri • May 21, 2020 -
Column
How Citi earned its day off
The nation's third-largest bank this week said it would buy $50 million in PPP loans from nonwhite-owned depository institutions. It's shopping for suburban, post-COVID office space. And it stood up an environmental sustainability unit.
By Dan Ennis • May 21, 2020 -
Santander agrees to $550M settlement in auto-lending lawsuit
A group of 34 attorneys general contends Santander violated consumer protection laws by locking subprime borrowers into auto loans it knew, in some cases, carried default rates of greater than 70%.
By Dan Ennis • May 20, 2020 -
Truist spent $125M on rebrand, court document shows
The disclosure came amid a copyright infringement lawsuit Truliant Federal Credit Union filed against the bank. Truist said it would cost $34 million — and take six to nine months and a shareholder vote — to change its name again.
By Dan Ennis • May 19, 2020 -
Permission granted by Plaid
Plaid Exchange aims to level the API playing field for banks
"The last thing we would want is a future where the digital options for customers of Wall Street banks are different from the digital options of the customers of Main Street banks," said John Pitts, Plaid's head of policy.
By Anna Hrushka • May 19, 2020 -
Courtesy of Samsung
Samsung to launch US debit card this summer with SoFi
The South Korean company joins competitors Apple and Google, as more tech giants announce plans to offer banklike products.
By Anna Hrushka • May 11, 2020 -
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Capital One employees to stay remote through at least Labor Day
A number of big banks are pondering how and when to return to the office. One potential plan at JPMorgan Chase would have employees working remotely on a rotating basis, reducing demand for office space.
By Dan Ennis • May 6, 2020 -
Do bank branches have a future? Pandemic reveals ultimate 'A/B test'
Many customers turned to digital options once banks began temporarily closing branches in March. Most may not be missing the trip.
By Anna Hrushka • May 6, 2020 -
Varo CEO: Pandemic can be 'brand-defining' for digital banks
"If we're going to be living in a world of more isolation ... we've got to help (consumers) navigate through this, give them that steady drumbeat of assurance," Colin Walsh said.
By Hillary Richard • May 5, 2020
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