The news: We recently covered Wells Fargo’s early entrance into the agentic AI realm. And we recommended that other financial institutions (FIs) explore how they could implement it, too—regardless of size. Now a smaller FI, Michigan-based Family Financial Credit Union, has announced its partnership with fintech start-up Algebrik AI to implement a new digital lending suite, per a press release. Why this matters: Family Financial Credit Union will be one of the first smaller FIs to go public with its agentic AI offering. If it proves successful and customers like the experience—which could in turn draw more business to its loan products—it could inspire other institutions to pursue similar partnerships and offerings. We expect many more FIs of all sizes to announce agentic AI pilots in the near future.
The news: Citigroup CEO Jane Fraser met with President Donald Trump to propose a public stock offering for mortgage giants Fannie Mae and Freddie Mac, per Bloomberg. The proposal is part of a larger push by Wall Street executives who see the deal as a potentially large source of revenue. Our take: IPOs take time, and this one would be an especially massive undertaking. In his first term, President Trump attempted to privatize the two firms and was unsuccessful, highlighting the rocky road ahead. This leaves the next steps and timeline murky, but we will be closely watching developments.
The news: Wells Fargo is partnering with Google Cloud to equip the bank’s 215,000 employees with advanced generative and agentic AI tools, per American Banker. The phased implementation will span the next few months. Why this matters: If Wells Fargo sees greater efficiency, a better customer experience, and savings from the wide AI rollout, it could set an industry trend. Competitors should at least begin exploring how they can implement agentic AI in their own operations. And Google Cloud’s involvement serves as a reminder that these solutions don’t need to be developed internally. Third-party partnerships may be especially valuable for smaller financial institutions that want to catch up on AI innovation.
The news: President Donald Trump is expected to sign an executive order against alleged “debanking,” claiming that JPMorgan Chase and Bank of America discriminated against him by rejecting his company's deposits, per The New York Times. The fallout: Some FIs may alter their risk management practices to avoid a personal vendetta. But by mandating that banks cannot debank certain groups for fear of being accused of political bias, the order essentially limits their ability to manage risk. This could expose FIs to clients with legitimate compliance or reputational concerns. It also forces FIs to choose between political and financial blowback and carries a long-term risk of losing young, socially conscious customers. Gen Zers particularly care about banks’ actions when it comes to what they deem as moral issues, like the environment or DEI. Diverting from prior commitments young consumers supported could risk their loyalty.
The news: We’ve seen TD Bank lean into comedy before to appeal to younger consumers and launch new products. It’s using a similar strategy to educate current and prospective customers about fractional investing services. Can it work? It’s a clever concept that has prompted consumers, who generally like the ad, to question the legality of using snippets of widely recognized logos, per Creative Bloq. The ad’s core strength is how it takes a complex financial concept—fractional investing—and makes it instantly understandable through a simple visual pun. This approach is highly effective in grabbing attention, especially from younger, digitally savvy audiences, who might find traditional financial ads unappealing.
The news: Huntington Bank refreshed its brand with new logos, an ad campaign, and a suite of products to meet the evolving needs of its target customers, per a press release. The details: The brand refresh is changing not only the look and feel of marketing materials but thoughtfully addressing the needs of its target audience. Will it work?: The success of the rebranding will depend on preparation as well as buy-in from employees and customers. But what stands out as incredibly strategic are its products that thoughtfully address its target customers’ life-stage-related needs.
The news: After facing early-career challenges from the Great Recession and then the pandemic, many millennials are now wealthier than previous generations were at the same age. But a significant number remain anxious about their financial future and worry that their wealth could disappear, per The Wall Street Journal. Why this matters for banks: Just as Gen Zers feel they need to earn a whopping $587,800 per year to achieve financial success, millennials may need a reality check from their banking providers so they can productively work toward their financial goals.
The news: According to a recent survey by money management and safety app Greenlight, financial literacy is a top concern among US families. While this type of education is in high demand, 47% of financial institutions (FIs) don’t offer it at all, per the Federal Deposit Insurance Corporation. Our take: Offering solutions that help young families can help build stronger relationships with parents and their kids (who are likely to bank where their parents do). While it’s difficult to quantify the ROI of offering these solutions, the benefits of improved customer loyalty and young customer acquisition can help set up an FI for long-term success.
The news: JPMorgan Chase and Coinbase partnered to offer Chase's customers new ways to access crypto. This fall, customers will be able to link Coinbase directly to their bank accounts, buy crypto with Chase credit cards, and convert rewards points to USDC, per a press release. Why this matters: This partnership is a big step toward bridging the gap between traditional finance and crypto. By letting customers use their credit cards to buy crypto or redeem their Chase Ultimate Rewards points for USDC, the companies could accelerate crypto adoption. It’s also another salvo from JPMorgan against data aggregators and open banking firms after the bank announced that it would charge these companies to access customer data—particularly around payments. JPMorgan is integrating directly with Coinbase rather than using APIs from a company like Plaid.
The news: British fintech Revolut is reportedly considering acquiring a US bank to rapidly obtain a US banking license, enabling faster expansion, per The Financial Times. It will likely target a low-cost, nationally chartered bank. Our take: Revolut’s potential acquisition of a US bank reflects a growing trend of successful fintechs becoming banks themselves through strategic acquisition rather than merely being disruptors. PYMNTS reported that multiple fintechs—including Wise, Circle, and Ripple—also recently applied for banking licenses with the Office of the Comptroller of the Currency. This means banks must lean into what differentiates them from the growing competition beyond charters and insured deposits, like long-standing reputations, excellent customer service, and customer-centric products and services.
The strategy: In 2023, U.S. Bank launched a nontraditional campaign to promote Asistente Inteligente, its bilingual Spanish voice assistant that debuted the prior year. The bank co-produced “Translators,” a documentary highlighting the challenges faced by millions of children who act as translators for their immigrant families, particularly in financial matters, per Storyboard 18. Our take: This campaign was a masterclass in purpose-driven marketing that doubles as a long-term business strategy. Many financial institutions (FIs) often overlook or superficially address underbanked and immigrant populations. But the GDP of US Latinos is the second-fastest-growing in the world, next to that of consumers in China, per think tank Latino Donor Collaborative. And 25% of US consumers ages 18 and under are part of the Latino community—offering smaller FIs an opportunity to combat their “age problem.”
41% of US buy now, pay later (BNPL) users have bought clothing, shoes, and outfit accessories with the services, according to April data from LendingTree and QuestionPro.
The news: Insurance premiums are set to rise by 15% next year for the people who buy through the Affordable Care Act, per a new KFF analysis. Our take: While the Trump administration is eliminating the ACA tax credits, states where the president won the election account for 88% of ACA enrollment growth since 2020, per KFF research in April. When premium increases roll out across the ACA marketplace, and spillover into higher costs for hospitals and healthcare services, we expect plenty of political finger-pointing over fault, but little agreement on ways to improve US healthcare and keep consumers out of medical debt.
In today’s episode, we talk about how AI has changed finserv’s approach to advertising and which areas of bank marketing will be affected the most. Join the discussion with host and Head of Business Development Rob Rubin, Analysts Lauren Ashcraft and Jacob Bourne.
US commerce media ad spending is projected to hit $118.4 billion by 2029, growing at a 15.3% compound annual growth rate (CAGR), per a May ĢAV forecast.
The news: A majority of GLP-1 weight loss drug consumers are now staying on the medications for more than a year, per an annual Prime Therapeutics analysis. The Prime study includes 5,780 people via healthcare claims over three years; the mean age was 47 and 80% were women. The final word: Adherence rates longer than a year validates the idea that prescription weight loss GLP-1s, and newer drugs on the way, are here to stay as chronic disease treatments. It shifts typical weight loss marketing from cyclical—keep your New Year’s resolution or lose weight for your wedding—to medical and consistent.
Consumers aren’t just looking for deals—they’re looking for brands they can trust. Nearly 80% of consumers say they’d be more likely to try a new retailer if it appeared in their bank’s rewards program, according to a new report from ĢAV and Chase Media Solutions.
In today’s episode, we talk about how to be both a product-led organization and a customer-centric one, what fintechs are doing that keeps them closer to customers, and how banks can rethink the customer journey around financial life stages. Join the discussion with host and Head of Business Development Rob Rubin, Analyst Lauren Ashcraft, and Principal Analyst Tiffani Montez.
Delinquencies for both student loans and credit cards could worsen as borrowers contend with more obligations
In today’s episode, we talk about how much debt consumers have, which buckets it lives in, and the likelihood of a ‘debt jubilee’. Join the discussion with host and Head of Business Development Rob Rubin, Senior Analyst Grace Broadbent and Senior Director of Forecasting Oscar Orozco.