The agency said it will use about $20B of the fund to cover Silicon Valley Bank depositors. Banks (and maybe customers) will pay in the long run.
Apple’s product strength and established wallet reach will make the solution a prime competitor in a crowded market.
Life insurance ownership is dwindling among US consumers, but demographic trends can shape acquisition strategies of new life insurance policyholders. Addressing pain points of Gen Z consumers can help marketers boost ownership rates of policies.
OneScore uses alternative data like rent to measure creditworthiness, which can support consumers who have minimal or no credit history.
Insurer Zurich is exploring using ChatGPT to improve modeling and claims. The tech has the potential to strengthen customer service, but not all consumers are sold.
The value of Deutsche Bank shares plummeted on Friday as the price of its credit default swaps spiked. Meanwhile, the news of a probe left UBS and Credit Suisse shares struggling.
It partnered with OpenAI on a ChatGPT plugin to offer users personalized shopping recommendations.
Insurance joins the long list of industries slashing ad budgets: Insurers are among TV’s most recognizable brands, but industry problems have forced them to back down.
On this special bonus episode of "The Banking & Payments Show," we take a step back from the Silicon Valley Bank debacle to explore what’s on the horizon for the banking industry. In our "Trouble and Opportunity" segment, we examine the lasting effects from the banking failure (e.g., more regulation) and consider the trends that may arise from this crisis (e.g., more neobanks). Tune in to the conversation between host Rob Rubin and our analyst Tiffani Montez to hear what the path forward will be after the meltdown.
Between bank collapses and a prolonged crypto winter, 2023 has not been kind to the banking industry. But that doesn’t mean things can’t turn around. Here are five charts on what’s good (consumer trust remains steady), what’s bad (crypto’s downfall continues), and some areas of opportunity (the rise of ChatGPT).
Though smaller than previous hikes, this one will still weigh on consumers, small banks, and even large, well-capitalized banks that are trying to help.
Gen Zers are ready to spend. The majority will be adults in 2023, meaning increased spending power. And they rely heavily on digital when making purchases: Gen Z will surpass Gen X in the number of US digital buyers by 2025, per our forecast.
Big Tech layoffs in 2023 have already blown past 2022’s total—indicating that job cuts are expected to continue and that they’re now spreading to peripheral industries.
The Wall Street lender’s pilot shows the space is maturing and could prompt other banks to launch their own biometric products.
The solution lets businesses create physical or virtual cards, which can open a new revenue stream for Checkout.com.
Fed chair declares banking system is ‘sound and resilient’: And the Treasury Secretary says large withdrawals from regional banks have stabilized. But will investors believe them?
Regulators’ response to a letter requesting expanded coverage was vague and not reassuring. Next steps are crucial, but regulators can't afford to stall much longer.
It’s testing a browser-based crypto wallet despite the industry’s tumultuous year.
On today's episode, we discuss what happened to Silicon Valley Bank, its knock-on effect on the media and retail worlds, and how this is affecting advertisers. Tune in to the discussion with our director of Briefings Jeremy Goldman and analyst Jenna McNamee.
Regulators hoped the deals would quiet the chaos, but they might be doing the opposite.