Profits dropped when big banks got the bill for last year’s banking crisis—along with some other expenses.
Now clients can invest in crypto through traditional financial institutions—and neither will have to directly hold digital currency.
The P2P payments space is deeply entrenched by competitors that have large networks of loyal users
Stakeholders submitted 11,000 comments during the CFPB’s open banking feedback period—revealing competing interests.
GenAI could generate between $200 billion and $340 billion (9% to 15% of banks’ operating profits) in value annually through greater productivity, per a 2023 McKinsey & Company report. But its potentially disruptive force won’t take hold in 2024.
On the first podcast episode of the new year, we discuss what buy now, pay later's (BNPL’s) prospects will look like in 2024. • In our “Story by Numbers” segment, we focus on the outlook for BNPL by looking at growth by generation. • In “Headlines,” we examine data from Adobe Analytics that states BNPL purchases were up 43% on Cyber Monday compared with the previous year, and how the rise of BNPL use over the holidays has increased consumers' debt burden. • In “For Argument’s Sake,” we debate whether BNPL promotes good or bad behavior. Listen to the podcast with host Rob Rubin and our analysts Grace Broadbent and David Morris.
The crypto-wary regulator is expected to pave the way for easier investment in Bitcoin over the next week.
India’s CBDC setbacks suggest the digital euro will have to overcome many hurdles
Leading financial institutions have discovered new ways to harness the power of AI to supercharge their operations and customer service.
We look at the trends that will sustain that growth into 2024
Understanding each group’s unique needs can help banks set up their marketing strategies.
Though US regulators tried their best to keep up, they still must address some major gaps in 2024.
42.4% of US Gen Z banking consumers would consider their proximity to ATMs as a factor before choosing a new bank, while 28.8% would consider their distance to a branch, according to our survey. By contrast, 39.6% would consider the bank’s reputation.
And their desire for more guidance from financial professionals opens up opportunities for strengthening relationships.
The network also forecasts a surge in ecommerce returns, per its 2024 economic outlook
Disparities in which groups receive these deals led the Consumer Financial Protection Bureau (CFPB) to ask questions about fair lending practices.
JPMorgan, Bank of America, and Nationwide have committed to maintaining or expanding their in-person presence even as competitors close brick-and-mortar outposts.
On today’s podcast episode, we talk about our latest report that looks at new features being offered by the top cash-back credit cards and how much consumers value them. • In our “Headlines” segment, we break down a recent CNBC article about some of the limited-time merchant rewards the major credit cards are offering. • In “Story by Numbers,” we discuss the Insider Intelligence emerging features benchmark that identified 49 novel qualities and carefully reviewed the feature sets of 10 popular no-fee cash-back credit cards. We also talk about free security features that customers value the most. • In “For Argument’s Sake,” our host Rob Rubin has a difficult time staying true to his position (Credit card features are so tempting!) as he debates why consumers feel certain credit card features are valuable and that they would forgo most of them for more rewards. Listen to the podcast with Rob Rubin and our analyst David Morris.
Gen Z isn’t very worried about their privacy if banks integrate AI into their services. Other generations expressed less interest and more caution about AI.