In a sluggish, low-rate economic environment, banks find it increasingly harder to differentiate from the competition. For Wells Fargo, addressing that challenge involves continuous investments, as much in mobile as in bank branches, according to COO Timothy Sloan. “To be able to differentiate yourself, we have to be able to provide ourRead More
Post Tagged with: "branches"
Mongolia, hotbed for … bank branches? Far from Mongolia today, Virgin Money, Richard Branson’s UK financial services venture, opened the doors on a new branch in Central London. The new branch was made to look like the inside — brace yourself — of a Virgin Atlantic airplane. “The new [Virgin Money]Read More
Bank of America might want to change its name to Digital Bank of America. The Charlotte, N.C., megabank is more digital bank than conventional financial institution today. That’s because 60% of the bank’s “sales” are “all digital now,” Brian T. Moynihan, Chairman and CEO of Bank of America, told investorsRead More
USAA mobile app adds emergency alerts and auto loan refinancing to an already packed mobile application.
You can find data to tell you just about anything about banking these days. That’s not a good thing. This morning I came across two banking studies that, while not exactly contradictory, seem to be implying two opposing trends. On the one hand, there is the Bankrate.com study released today thatRead More
The banking industry is dealing with many of the same issues today as nearly 20 years ago!
PNC announced that 30% of its deposits come through the ATM and mobile channels in its earning call today. The Pittsburgh-based bank does not distinguish between ATM and mobile in public announcements, so it is hard to tell what this means for the bank’s digital channels. This rate is “almostRead More
Well, we do know this about Wells Fargo & Co.: the bank is a making “a lot of investment in technology.” That’s about the extent of the disclosure. Yesterday, Wells Fargo released its fourth quarter 2013 earnings. (For those of you who missed it, Wells turned in 2013 net income ofRead More
The bank branch debate hits the mainstream media as CNBC takes it on. It’s conclusion: bank branches are here to stay.
Brett King’s new book Bank 3.0 might be encapsulated in four words. Banks: Change or Die. Brett King has been beating the drum for change for years and in the past few weeks he’s offered bankers extra encouragement: His long-awaited mobile banking product Moven just opened its virtual doors to theRead More