Today it was revealed that banking giant Goldman Sachs will be launching an online retail lending operation called Marcus, after founder Marcus Goldman, as reported by the New York Times, The operation will likely roll out this October, and will start by offering small consumer loans from $15,000 to $20,000. This follows the launch of GSRead More
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After a week of speculation, it has been officially announced that Walmart will acquire innovative ecommerce company #JetCom, for which it will pay $3 billion in cash. It’s a sweet deal for Jet, and could in the future provide some possible healthy competition for Amazon, which may be what attracted WalmartRead More
The Swedish payments firm Klarna, which raised $231 million in funding in Europe and launched in the U.S. last September with Overstock.com as its first customer, has expanded its American customer service operations. Klarna is now offering customer service from 8 a.m. ET to 8 p.m. ET. Previously, Klarna’s U.S. customer serviceRead More
The key to maintaining success within any sector of the business world is the ability to identify internal and external issues and determine a course of action to resolve them. This fundamental business practice has been heavily employed within the financial services industry as trends, technology and customer preferences haveRead More
Online banking is booming for CIT Bank. The financial services company yesterday reported that it had secured $11.1 billion in new deposits last quarter, of which $6 million, or 54%, came through the online channel. During the same quarter in 2012, but 20% of CIT Bank’s deposits came from itsRead More
In a clash of the banking titans, Wells Fargo & Co. beat JPMorgan Chase in online banking last quarter – but JPM topped Wells in mobile. Wells Fargo, the San Francisco bank, increased its online banking users by about 8% last quarter compared to the same quarter in 2012, toRead More
This post was originally posted on The Financial Brand by Andera’s SVP of Marketing, Laurie McLachlan. Join her for a webinar on February 21st. Many banks and credit unions allow consumers to open accounts and apply for loans online. Few are thrilled with their results. To increase the number of deposit accounts andRead More
There’s a long held premise that branches are great channels for advice, that this is the one differentiation that bank branches provide that the Internets could never compete with.
Branches are the best place to offer customers additional products, right? Not so fast. Tim Bunch, web strategist, designer and developer at Capital Educators Federal Credit Union, offers three reasons that cross-selling is easier to do online than in the branch environment: 1) Computers can analyze accounts for cross-sell opportunitiesRead More
What does it mean to be an “active user” of a bank’s services? This question is anything but simple to answer.