Watch more: The Digital Shift | i2c | Dan Hanks A shortage of ambition is not what holds back middle-market companies in the United States. Cash flow is. Businesses generating between roughly $1 million and $50 million in annual revenue often find themselves caught between...
Embedded finance and the impact of FinTech pacts are showing up on bank balance sheets. There are different paths toward getting here. The latest earnings results from companies including Fifth Third, The Bancorp and Pathward illustrate a range of models for turning relationships with FinTechs...
Some of the strongest growth inside big banks is coming from the services that companies use every day to move, hold and manage money. Second-quarter results from the likes of Citi and Wells Fargo offered evidence that corporate banking growth is extending beyond conventional lending....
Banking app Chime says it now offers its members an investment option. Chime Invest, announced Monday (July 20), lets members buy stocks and exchange-traded funds in the same app they use for things like spending and saving. “About 40% of Americans report not owning any stock, missing out...
Community/mid-size banking consortium Alloy Labs says seven new lenders have joined its ranks. “As members, these banks join Alloy Labs’ Centers of Excellence and working groups, gaining shared intelligence, peer benchmarking, and a path to pilot and scale new products without adding headcount,” Alloy said in its announcement...
While community banks have steadily lost market share by almost every conventional metric, they have simultaneously become more systemically important to the parts of the economy that cannot easily be standardized. Despite holding a fraction of U.S. banking assets, they remain the financial infrastructure for...
Citizens Bank parent company Citizens Financial Group learned in a pilot program that its deployment of software tools across its engineering teams is likely to deliver a 10x boost in engineering productivity. That’s one example of the early results the bank is seeing from its technology-focused strategic initiative “Reimagine...
JPMorgan Chase is close to becoming a $1 trillion company, Reuters reported Wednesday (July 15). The bank, which was last valued at about $919 billion, saw its shares reach a record high after a Tuesday (July 14) earnings report in which it announced the highest...
The second quarter produced another round of strong earnings from the nation’s largest banks, and executives spent as much time discussing artificial intelligence, digital delivery and technology investment as they did revenue, expenses and capital ratios. JPMorganChase, Bank of America, Citigroup, Goldman Sachs and Wells...