For decades, consumer expectations around the convenience and always-on capabilities of their financial services could not be met. The typical Monday-through-Friday banking hours and 4 p.m. branch closings have made it difficult for consumers to decide when and how they bank. That’s quickly changed. Consumer...
While brick-and-mortar bank branches have been closing for years, those located within supermarkets are reportedly shutting at a rate that is seven times higher than that of other branches. American banks closed 10.7% of their in-store branches in the year ended June 30, compared to...
The Federal Reserve has reportedly finalized a revamp of the Community Reinvestment Act (CRA) rules, which were enacted in 1977 to combat discriminatory lending practices in minority neighborhoods. The updated rules aim to address the challenges posed by the rise of online banking and mobile transactions, shifting...
Deepfake technology, powered by artificial intelligence (AI), is reportedly becoming a favored tool for criminals engaged in imposter scams, posing a significant threat to individuals and the banking industry. This surge in cybertheft and financial scams has prompted regulators, law enforcement agencies and financial institutions...
March 28, 2024
For decades, consumer expectations around the convenience and always-on capabilities of their financial services could not be met. The typical Monday-through-Friday banking hours and 4 p.m. branch closings have made it difficult for consumers to decide when and how they bank. That’s quickly changed. Consumer expectations, technological advancements and shifting market dynamics are redefining what […]
February 23, 2023
With the world existing more online than ever, fraud attacks targeting financial institutions (FIs) are a growing threat. Criminals are increasingly succeeding in exploiting the vulnerabilities in FIs’ systems, with...
January 24, 2023
PYMNTS’ latest research finds that despite a general satisfaction with existing security measures financial institutions (FIs) use, half of all adult consumers feel their banks must take additional steps to...
January 13, 2023
Marcus aside, Goldman Sachs has heavy lifting ahead as the Wall Street giant pursues embedded finance. As reported in SEC filings from Friday (Jan. 13), Goldman has detailed how it...
October 27, 2023
While brick-and-mortar bank branches have been closing for years, those located within supermarkets are reportedly shutting at a rate that is seven times higher than that of other branches. American banks closed 10.7% of their in-store branches in the year ended June 30, compared to a closure rate of only 1.4% for other branches during […]
October 24, 2023
The Federal Reserve has reportedly finalized a revamp of the Community Reinvestment Act (CRA) rules, which were enacted in 1977 to combat discriminatory lending practices in minority neighborhoods. The updated rules aim...
August 22, 2023
Deepfake technology, powered by artificial intelligence (AI), is reportedly becoming a favored tool for criminals engaged in imposter scams, posing a significant threat to individuals and the banking industry. This...
July 21, 2023
J.P. Morgan reportedly plans to expand its online banking platform Chase into Germany and other European Union (EU) countries. Preparations for such a move have been reported previously, but CEO...
