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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.

The agency will create a digital FDIC sign that depository institutions must display on all of their online channels, similar to how signs must be displayed in branch locations. The firms must also label products as insured deposits or nondeposits. On nondeposit products, the firms must specify that they are not insured by the FDIC and that they may lose their value.

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 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.

Additionally, the bank plans to make more mortgage officers available at branches located in minority communities. Wells Fargo will also shed its correspondent loan business, which purchases loans from third-party lenders, and will shutter its mortgage servicing arm through asset sales.

Other delivery platforms are likely to establish a quick-commerce branch within their larger networks in order to satisfy customers with instant needs. Uber has also unveiled a slightly different take on quick commerce. The company has partnered with UK grocer Iceland Food to offer grocery delivery in as little as 20 minutes via Uber Eats Market.

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.