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Plus, Capital One offers physical branches鈥攔are for a bank that still keeps everything fee-free and simple. Best Mobile App Experience: Discover. Discover has a highly rated app that supports mobile check deposits, Zelle transfers, and full account management. And Capital One and Discover just got the final green light to merge, which could mean this app鈥檚 technology will assist more customers.

Gen Z鈥檚 top factors in choosing where to bank include their proximity to an FI鈥檚 ATMs and branches. If Revolut鈥檚 ATMs enhance user experience while providing services typically only offered by branches, Revolut could compete with traditional FIs where the ATMs are rolled out鈥攁nd don鈥檛 forget that Revolut is considering applying for a US banking charter.

Around 80% feel they have ample options when choosing banks, products, and services, and report easy access to a local bank branch. 76% believe banks are a key strength of the US economy, and 69% say they are confident in their banks鈥� ability to support individuals, businesses, and communities.

Stayed consistent across touchpoints by phasing in the rebrand across various channels, including digital platforms, branch signage, and advertising. Engaged with customers and presented the refresh as a move to enhance the customer experience, focusing on more agile and innovative banking solutions. This aligns with our guide鈥檚 advice on offering better products/services through a rebrand.

While Stripe鈥檚 special-purpose license affords very limited new functionality, it鈥檚 still a reminder for legacy financial institutions to focus on their differentiators: personalized advice and human-centric service at the local branch. To understand which mobile features would set FIs apart from all digital competitors, read our report 鈥淯S Mobile Banking Emerging Features Benchmark 2024鈥� next.

The strategy: Santander aims to expand Openbank鈥檚 presence in the US as a full-service digital bank with branches. Meanwhile, Verizon wants to enhance its financial services portfolio, per its website. Through the partnership, Verizon customers can access this high-yield account, and they鈥檒l also get up to $180 off their Verizon bills per year.

The details: Centrust will retain its staff and branch, while SmartBiz Bank will operate digitally, leveraging its fintech platform to expand nationally, per The Financial Brand. SmartBiz Bank plans to broaden its funding sources by introducing a small-business deposit product by the end of 2025.

As creators branch out, Reddit could find itself in the mix as a place where fans can engage in deeper conversations. And the platform is positioning Redditors as their own type of influencers. Reddit might not be interested in courting 鈥渢raditional鈥� creators and influencers.

Positive branch experiences: Some customers praise RBS鈥檚 mobile banking app and select in-branch experiences, but these are overshadowed by broader customer dissatisfaction. Our take: Although traditional banking incumbents have more customers than their digital competitors, they continue to lag in customer satisfaction, particularly in digital services.

Big Tech鈥檚 proximity to power has its advantages: Tech CEOs extended an olive branch to the incoming administration, and any sway over policy and regulatory changes may alter market dynamics.

And smaller FIs have the edge on personal banking鈥攚hen business owners walk into their local branches, they want someone who knows their name and their business. Plus, small businesses cite fewer fees at smaller FIs, which can make all the difference in their business鈥檚 success. What this means for FIs: Both big and small FIs have an opportunity here.

And then the bank's reputation, the branches near them, which is interesting. They do care about being able to go to a physical branch. Fraud prevention, customer service, the fees, interest rates for accounts, banking mobile app quality, discounts, incentives, awards. Rob Rubin (03:28):. So your 13 are just the 13 things that people care about when they choose a bank. Lauren Ashcraft (03:28):. Yes.

Equally important, FIs must communicate to customers what won鈥檛 change鈥攕uch as the products they know and love, their cards, logins, and the friendly faces they鈥檙e used to seeing at branch locations. And it鈥檚 not just about telling customers that change is coming鈥擣Is must seek initial buy-in by testing the changes.

Data insights allow for customized interactions across various channels, including in person at the branch. Increase efficiency and ROI. Data-driven marketing boosts efficiency by focusing on high-potential prospects and adjusting campaigns in real time for maximum impact. And demonstrating this to executives could help them understand the value of marketing鈥攁nd the budget behind it.

It could also entail offering ad space on more channels, including branch networks, ATMs, point-of-sale terminals, and off-site media to capture more eyeballs. Another option will be to start supporting a wider array of ad formats, starting with video. Click here to view our full forecast for US FMN ad spending. 6. Mounting pressure will squeeze the long tail of RMNs.

Enhance branch experience with financial guidance: Branches remain essential for major financial decisions. FIs should create private, comfortable spaces for financial consultations, like Bank of America replacing teller windows with offices.

TikTok CEO Shou Zi Chew attended President Trump鈥檚 inauguration alongside other tech and social media CEOs, and the app鈥檚 notification thanking Trump for not enforcing the ban can be viewed as an olive branch between TikTok and the new administration.

US banking digital ad spending growth will rebound dramatically in 2024, but tougher times lie ahead. Understanding the nuances of consumer behavior will be essential to boosting ad impressions.

FMNs will expand beyond FIs鈥� home geographies and into channels including point-of-sale (POS) terminals, branch networks, and offsite media. FIs may also start acquiring ad tech companies to improve their in-house ad targeting capabilities. Why should FIs have FMNs on their radar? FMNs mark a new chapter in the evolution of commerce media networks (CMNs).