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.
The company is trying to cut costs as it focuses on profitability ahead of going public
After facing regulatory scrutiny for some major missteps, it plans to focus on other areas of business—and that’s one less lender in the shrinking student loan market.
In preparation for impending changes to data sharing in the US, banks have been executing on strategies aimed at positioning them competitively.
A private Swiss bank’s stock price dropped drastically after it disclosed a significant exposure to a troubled client—and social media amplified the news.
Winning Gen Zers’ deposits will depend on capturing their attention and trust early in the customer journey. At the discovery and consideration stages, Gen Zers’ habits are very different than those of other generations, per our inaugural survey of 1,488 US banking consumers. That means banks must rethink their marketing strategies to best appeal to this generation’s preferences.
Customers want more transparency in banks’ lending decision-making processes and more control over the data that factors into them.
YouTube is the top social media platform that US Gen Z consumers turn to for banking information, per our survey.
This time, it’s the former CEO of the world’s largest bitcoin and altcoin crypto exchange.
Consumers are turning to the payment method to mitigate financial pressures this holiday season, but overextension concerns persist
This Banking & Payments Show episode explores new cash-back credit card features and their appeal. We discuss a CNBC article on merchant rewards, highlight a feature 58% of consumers find extremely valuable, and debate the merits of these features versus more cash-back rewards.
But that offering alone isn’t enough to attract their business.
We capture how payment providers are innovating to meet new preferences and capture this vital volume in four trends
Chairman Martin Gruenberg faces calls for his resignation.
This could make it harder for riskier consumers to get approved for credit cards in the future