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Discover has a single physical branch in Delaware. It鈥檚 unclear whether it and its bank accounts would keep the Discover branding after the merger, but Capital One believes initial customer impacts will be minimal.

Though they lack physical branches, digital banks provide convenient account access through large ATM networks and partnerships with retailers that accept cash deposits. Digital banks often offer helpful interactive tools for setting savings goals, making budgets, and automating transfers. They also feature strong customer support options like online chat and 24/7 phone assistance.

For RMNs, media partners will help them branch out into new ad formats and provide more accurate data back to advertisers.

The trend: Nasdaq鈥檚 decision corresponds with a growing industrywide trend in which companies seek to broaden their revenue streams by offering products that branch outside of their everyday offerings. For example, Google Cloud has partnered with Moody鈥檚 to deliver a new financial data analysis solution that combines generative AI and proprietary data sets.

HSBC acquired the Silicon Valley Bank鈥檚 UK branch to the relief of  England鈥檚 technology sector, which was highly exposed to the collapse of SVB, per TechCrunch. A symptom of a bigger problem: SVB鈥檚 plight could be indicative of the frailty of the US banking system and the volatility surrounding venture capital and startups in the technology and technology-adjacent industries.

Age is the determining factor in willingness to try new products, with millennials and Gen Zers more likely to branch out than Gen Xers or baby boomers, according to our CPG and Grocery Product Discovery 2023 report. 2. Social media is also playing more of a role in discovery.

FIs are likely to miss out on new customers if the customer is required to travel to a branch to open an account. Small FIs shouldn鈥檛 be bystanders on social media. Participating on posts and engaging with customers on various social media platforms can improve the customer experience and aid in personalization. (Check out tips for engaging on social media here.). Know who you鈥檙e working with.

Are more people coming to the website or into a branch just after a new campaign started running? That鈥檚 a trend. Keeping tabs on consumer activity before and after a campaign launch will provide insight into what works and what doesn鈥檛. The bottom line: Bank CMOs鈥� roles are changing markedly as banks journey through their digital transformations.

This could be an opportunity for advertisers to branch out and experiment more with TikTok and YouTube. But it also means Meta is doing something right in terms of user data, ad placements, ease of use, and tracking. 4. It鈥檚 all about the influencers. Social ad spending is still growing in the US, but not nearly as fast as it was at the height of the pandemic.

Quotable: The pros and cons of generative AI in healthcare can be summed up in this recent quote from Micky Tripathi, PhD, who runs the health IT branch of the federal government: "I think all of us hopefully feel tremendous excitement and you ought to feel tremendous fear also.鈥�. What鈥檚 driving the excitement? Healthcare is a data-rich industry that's in dire need of automation.

And if you are a national bank like Chase, you also have ATMs, you have physical branches, and you're also pulling in data from there. It's basically just a question of volume. Rob Rubin:. Yeah. I mean, chase has bank branches, they have credit card, they have a lot of information across many different kinds of products. Maria Elm:. Definitely.

But unlike inflexible insurance products offered through bank branches, banks and fintechs can now offer customized, point-of-need (e.g., during online mortgage applications) life insurance products. We expect these partnerships to proliferate as fintechs look for new revenue streams amid a tougher economy. Digital health and wellness platforms.

This year, TD Bank and First Horizon Bank delayed their proposed merger agreement to create a benefits plan that would include new branches in minority communities around Charlotte, North Carolina. That deal is still awaiting approval. Sweets can rot your teeth: Currently, no regulatory framework covers what happens after a bank establishes a community benefits plan.

But don鈥檛 be afraid to branch out to other channels where people review products, like Reddit. This was originally featured in the eMarketer Daily newsletter. For more marketing insights, statistics, and trends, subscribe here.

What to expect after the election: Both presidential candidates have served in the executive branch before. Their public histories with banking policy give us a decent glimpse into the changes we could expect from their presidencies. Here are the key differences between the two candidates鈥� platforms that will have the greatest effect on the banking industry:.

They are significantly more likely to branch out compared with Gen Xers and baby boomers. There is no correlation between a generation鈥檚 shopping frequency and the propensity to try new products. Our survey found that millennials shop and spend the most on groceries and are also the most likely to try new products.

Key takeaways: Like branches that also serve as physical ad space, websites can make or break a potential relationship with a new customer. FIs assessing their websites may discover they need to reevaluate their brand and how they present it elsewhere as well. A bigger overhaul, with or without the help of a marketing partner, can strengthen the FI鈥檚 presentation to prospective customers.

As more users branch out to a broader range of apps, this could lead to more options for advertisers鈥攁lthough the triopoly should still capture most in-app ad revenues. Marketers in growing app categories will have access to more first-party data.

The likelihood of a Republican majority in the Senate could still result in a contentious dynamic, sparking frequent legislative news coverage that might offset a calmer executive branch.

Now as the industry branches beyond retail to wider commerce media, which includes travel and hospitality channels and super apps, in addition to RMNs, the growth potential is all the more enticing. Consumer packaged goods brands, for instance, aren鈥檛 the only advertisers moving increasing amounts of their marketing dollars to RMNs.

Because if you're like an old bank or a small bank that has a lot of branches, they think about convenience in terms of drive-throughs and branch hours. So I'm going to ask you guys. What makes financial service companies like a bank or an insurance company convenient? Grace Broadbent:. Well, right now, they are not very convenient. They're definitely getting better, but they're not there.

Consumers highlighted growing in-branch wait times, paired with a decline in employee courtesy. Half of consumers (up from 44% in 2022) consider themselves stressed or financially vulnerable. They also feel less satisfied with their FI鈥檚 account offerings.

Machine learning (ML) refers to a branch of AI and method by which computer systems learn, analyze, and interpret data to take actions on their own without programming. Retail media will drive big growth in programmatic DOOH. The programmatic digital out-of-home (DOOH) market doubled in size last year after a long recovery from the pandemic.

Natural language processing (NLP): A branch of AI that enables computers to understand, interpret, and respond to human language. It includes subsets like natural language generation and natural language understanding and has applications in both text-based and voice-based interpretation.

If you're one of these companies that is seeking to get through a regulatory hurdle in acquiring someone, as many of these streaming companies are trying to do, advertising on X is probably in your interest and you can devote a not majorly significant portion of your spending as an olive branch in exchange for something more significant. Jeremy Goldman (14:47):.