Community banks have a unique opportunity to tap into the $22 billion market opportunity created by platforms and FinTechs in enabling embedded finance for their end users, as examined in detail in this new report.
Consumers and businesses increasingly seek seamless, digital-first experiences, and banking as a service (BaaS) has emerged as a powerful tool to meet this demand. Companies use BaaS to integrate financial services and products into platforms and experiences that are not traditionally financial. This practice is...
Banks’ market-value losses on loans have reportedly been rising along with interest rates. Ninety-seven percent of a sample of publicly traded United States banks reported that their loans’ market value was less than their balance-sheet amount as of Dec. 31, 2022, the Wall Street Journal...
Financial institutions (FIs) have had many reasons to consider the benefits of investing in receipt data solutions. These range from fighting friendly fraud to helping their merchant partners personalize their loyalty programs, potentially increasing sales. Another driver is FIs’ hope to increase customer engagement through hyper-personalized offerings assisting consumers with spending...
The hearings on Capitol Hill are over. At least for the moment. The klieg lights have been switched off, the testimonies have been read, the lawmakers have grilled the regulators. And so, the question remains for the banks and the FinTechs: Now what? What’s next?...
U.S. Treasury Secretary Janet Yellen wants more oversight for the nonbank sector. In remarks to the National Association for Business Economics annual conference Thursday (March 30), Yellen addressed the need to regulate both nonbanks and traditional lenders as the government continues to grapple with a recent banking crisis. “We must...
The Federal Reserve’s inspector general has begun a probe into Silicon Valley Bank’s collapse. A spokesperson for the Office of Inspector General (OIG) told PYMNTS Wednesday (March 29) that the office had begun an independent investigation into the failure of Silicon Valley Bank. That inquiry began on March 14,...
Digital banking was already gaining momentum before the pandemic supercharged demand for remote services. As more consumers turned to their banks’ mobile apps than to physical branches, the industry began investing heavily in mobile experiences, including essential features and solutions that drive convenience. With 99% of consumers rating their...
Consumers expect access to banking wherever they are, yet 37% want to retain access to physical branches, says Barb Jacklin, Wintrust senior vice president, head of retail product and digital customer experience — which means delivering a digital-everywhere experience without losing the human touch.
