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Branches as differentiators: While many FIs closed branches this year, some took the opportunity to expand or focus their physical presence as a key differentiator. Bank of America鈥檚 鈥渓ocalization鈥� strategy incorporates aspects of local cultures into its 产谤补苍肠丑别蝉鈥� look and feel. BofA is also expanding the services offered at each location.

These factors may weigh even more heavily for SMBs in rural areas, who can be more isolated from national branches than their urban counterparts. 49% of rural SMBs bank with a local FI, while just 25% choose national banks. What鈥檚 preventing some from choosing local FIs? According to the study:.

Break down barriers that have prevented large parts of the population from participating in banking, such as high fees, distance to banking branches, and financial literacy issues. This will require time and dedication to rebuilding trust in financial institutions.

We're seeing this industry branch out and find new consumers to sell to. (01:50):. So Sky, why don't you kick us off by telling us how the beauty industry is venturing into these untapped markets. Sky Canaves (01:57):. So that's really been the great growth opportunity for the beauty industry. As you mentioned, it's hard to sell more products to the same consumers.

October: A massive Bank of America outage disrupted digital services and in-branch operations for thousands of users. December: Another Microsoft outage affected Teams, Outlook, and OneDrive, raising questions about whether its data centers are overburdened.

Retailers with multiple locations can use this chart to encourage individual branches or stores to develop their own marketing messaging or to encourage brands to invest more in specific locales. Related 蘑菇AV reports:. Out-of-Home Forecast and Trends 2024 (蘑菇AV subscription required). US CPG Industry Ad Spend 2024 (蘑菇AV subscription required).

This was the shot in the arm that many advertisers needed to branch out into digital. They鈥檝e seen the benefits (scale, targeting, and measurability)鈥攁lthough there was a degree of normalization post-pandemic鈥攁nd have begun to invest at increasingly rapid rates. Retail media is particularly important to Germany鈥檚 digital ad ecosystem.

And since baby boomers value in-person banking services more than younger generations, sending them an invitation for a meeting at the branch could be well-received. This article is part of 蘑菇AV鈥檚 client-only subscription Briefings鈥攄aily newsletters authored by industry analysts who are experts in marketing, advertising, media, and tech trends.

Gen X prefers banking at a branch over ATMs. What this means for banks: Baby boomers are willing to go digital when there鈥檚 added utility for switching over. That means the more user-friendly and useful (for their specific needs) FIs make their mobile banking platform, the more baby boomers could migrate over.

Tech CEOs鈥� olive branch could ease regulatory scrutiny, stall or dismiss existing antitrust cases, and amplify investments. Plus, M&A activity has already been trending upward for sectors like digital media and marketing, per Luma Partners. We think this can accelerate under the new administration and Big Tech鈥檚 alignment with it.

Just two months ago, a Bank of America (BofA) outage disrupted digital and in-branch services for thousands of users. API-related flaws jumped 21% from Q2 to Q3 2024, per a recent Wallarm report. Of those, 32% were linked to cloud-native applications and services.

Excellent customer service at the branch, which most fintechs don鈥檛 have. In Content Builder, include this boilerplate copy, italicized at the bottom of your articles: This article is part of 蘑菇AV鈥檚 client-only subscription Briefings鈥攄aily newsletters authored by industry analysts who are experts in marketing, advertising, media, and tech trends.

JPMorgan launched its Financial Center branch concept in New York City and San Francisco to attract clients with over $750,000 in total assets. It plans to open 30 Financial Centers in seven states by the end of 2026. U.S. Bank launched interconnected savings and spending products to help affluent clients compound rewards.

And the credit union has expansion plans鈥擲unward is acquiring the New Mexico operations of Utah-based Mountain America Credit Union, adding two branches in Albuquerque, and plans further branch expansions in the South Valley and West Side, increasing its presence to 17 locations.

JPMorgan Chase plans to open nearly 100 branches in low-income areas, bucking a trend of banks shuttering locations. Other banks are offering tools to help customers improve their financial knowledge and resilience; Wells Fargo recently offered blended cooking/financial literacy classes in New York with a focus on reaching Latinos.

Branches play the biggest part in getting Gen Zers to commit to a provider. Local branches were the top factor that convinced Gen Zers to buy a banking product or service, cited by 42.0%. They were also the top channel through which Gen Zers made a purchase. Almost 73% bought via a branch, while just 39.3% did so through an app, the runner-up option. Gen Zers aren鈥檛 going cashless just yet.

Creating engaging in-person spaces for relationship-building: At least 33% of Gen Zers choose banks based on their proximity to a branch. Banks that offer in-person space can get creative by offering workshops, events, and appealing products such as coffee. This shows innovation beyond the digital platform.

Virtual tellers also offer socially anxious young consumers a more comfortable alternative to walking into a branch, waiting in line, and speaking with someone in person.

That鈥檚 followed closely by physical banking branches at 54.8%. This means:. Banks should try to reach their elderly customers with educational materials, both at the branch and on the bank鈥檚 website. At the branch, employees should be trained and prompted to hand physical educational materials to elderly customers that will help them watch for fraud.

The news: Marqeta rolled out a buy now, pay later (BNPL) solution called Marqeta Flex in partnership with Klarna, Affirm, and payments platform Branch, per a press release. The solution helps payment apps, digital wallets, and card issuers embed BNPL payment options from multiple providers within their payment flows and offer customers personalized options.

What鈥檚 next: The sole branch of First National Bank of Lindsay reopened as a branch of First Bank & Trust Co on October 21, per the FDIC. Customers鈥� deposits up to $250,000 were FDIC insured, and the regulator will consider claims in excess of that limit on a case-by-case basis.

A lack of diversity will be especially apparent to this group if they don鈥檛 see any young employees they can relate to at the branch. Having Gen Zers on staff can help foster authenticity in outreach efforts and enhance relatability with younger consumers. Emphasizing transparency: Gen Zers are particularly sensitive to a perceived lack of authenticity.

Traditional FIs value and rely on their branch locations and onsite visits to build small business lending relationships. These small businesses are generally located near one of the banks鈥� branches. Small and large FIs approach this business differently.