Category: Retail Banking

Activity, Investment Banking, Retail Banking

Citi marks a quiet transition as Fraser takes the reins

March 2, 2021

Via: Banking Dive

For all the anticipation of leadership change at Citi — the bank announced in September that Jane Fraser would become the first woman to lead a U.S.-based bank of its size, and hints of her ascent were predicted as early […]

Capital and Risk, Credit, Retail Banking

Alpha Bank finalises €10.8bn loan portfolio sale

February 23, 2021

Via: FinTech Futures

The Greek bank is also offloading 80% of its loan services provider Cepal Holdings. It is expecting to reduce Alpha’s non-performing exposure, and non-performing loans, to 24% and 13% respectively. Known as Galaxy, the portfolio sale is the second-largest securitisation […]

Channels, Retail Banking

How Banks Kept Customers During the Pandemic, Even Commercial Ones

February 11, 2021

Via: Bank Director

Despite closed branches and masked interactions, the coronavirus pandemic may have actually improved customers’ relationships with their banks. They have digital channels to thank. That’s a shift from the mentality pervading the industry before the pandemic. Business lines like commercial […]

News, Regulations, Retail Banking

USAA Federal Savings Bank nabs new risk head from Citigroup

February 10, 2021

Via: FinTech Futures

The San Antonio-based firm has also promoted from within. It’s moved former head of retail banking, Paul Vincent, to a new role as head of its banking unit. “USAA is adding a highly talented risk professional with two decades of […]

Capital and Risk, Credit, Retail Banking

‘PPP fatigue’ sends lenders to Customers Bank’s white-label service

February 4, 2021

Via: Banking Dive

Amid the Small Business Administration’s rebooted Paycheck Protection Program (PPP), some lenders have turned to Customers Bank’s white-label service to handle PPP loan origination, funding and forgiveness in an attempt to avoid some of the delays and hassles that overwhelmed […]

Retail Banking

Goldman winds down Clarity Money to focus on Marcus Insights

February 3, 2021

Via: FinTech Futures

Due to close on 5 March, the app and website wind down – first reported by The Block – follows the bank’s gradual transition of Clarity Money’s “best” features to the Marcus app. The email sent to customers reads: “While […]

Retail Banking

JPMorgan acknowledges UK digital bank rollout plan

January 28, 2021

Via: Banking Dive

Launching a digital bank overseas represents a path to expansion for a bank that is limited in that regard domestically. Regulations prohibit JPMorgan from acquiring additional U.S. retail banks because it already holds more than 10% of the country’s deposits. […]

Retail Banking

US banks must lose “legacy anchor” to meet customer needs in 2021

January 18, 2021

Via: FinTech Futures

COVID-19 has become a catalyst for an acceleration amongst the everyday banking customer. ValuePenguin data shows 71% of US banking customers now regularly use online banking. What’s more, footfall in the branch has dipped, as customers stay away from personal […]

Regulations, Retail Banking

Major banks suspend political donations after US Capitol siege

January 11, 2021

Via: Banking Dive

Goldman Sachs and JPMorgan will suspend contributions to both political parties for six months. “The country is facing unprecedented health, economic and political crises,” Peter Scher, JPMorgan’s head of corporate responsibility, told CNBC. “The focus of business leaders, political leaders, […]

Retail Banking

JPMorgan is acquiring a major credit card rewards business in a bet that travel will rebound next year

December 28, 2020


JPMorgan Chase has agreed to purchase one of the biggest third-party credit-card loyalty operators in a bet that pleasure travel will rebound sharply after the coronavirus pandemic subsides, CNBC has learned. The bank agreed Monday to acquire the technology platforms, […]