Ally Financial expects deposits to flow out as interest rates go down, but it is looking to digital tools and experiences to maintain — and even grow —…
Read more Ally focuses on digital experience in face of outflowsCombining the August 2023 launch of Statewide Federal Credit Union’s new savings account with aggressive marketing efforts proved fruitful for the credit union, pulling in more than $8…
Read more How a Mississippi credit union attracted $8 million in new depositsBank of Baroda (BoB) is planning to add more heft to its balance sheet. India’s second largest public sector bank (PSB) is laying the groundwork to double its…
Read more Bank of Baroda plans to double its total business to ₹48 lakh crore in 5 yearsInvesting platform Robinhood added more than $3.4 billion through its automated customer account transfer service in the first quarter, up 100% quarter over quarter. The company is seeing…
Read more Robinhood automated deposits double QoQ|Bank Automation NewsHope Bancorp would add $2.24 billion of assets, including $1.31 billion of loans, with the acquisition of Territorial Bancorp.Adobe Stock Hope Bancorp, a Los Angeles-based company focused on…
Read more Hope Bancorp to buy Hawaii bank in $79 million dealTwo leading NBFCs -Bajaj Finance and Shriram Finance -have hiked rates on term deposits following a slew of deposit rate hikes by banks in Q4 FY24. While traditionally…
Read more Bajaj Finance, Shriram Finance follow banks, hike FD ratesAlly Financial and Discover Financial Services are among the online banks that have recently lowered the rates they pay on high-yield savings accounts.Bloomberg The war for consumers’ cash…
Read more Even before Fed cuts rates, banks trim what they pay for depositsGrasshopper Bank is investing in its digital offerings to meet its clients where they want to be met — whether through self-service channels or other avenues. The digital…
Read more Podcast: Grasshopper CEO Butler talks growth | Bank Automation NewsThe digital, FDIC-insured bank looked to affiliate marketing platform Fintel Connect nearly two years ago to expand its reach, Fintel Connect Chief Executive Nicky Senyard tells Bank Automation…
Read more Podcast: Digital bank grows account volumes by 420% | Bank Automation NewsJoseph Otting (left) is expected to become CEO of New York Community Bancorp after an investor group agreed to inject $1 billion of capital into the troubled company.…
Read more NYCB’s $1 billion infusion restored confidence. Now what’s the plan?New York Community Bancorp, which had $116.3 billion of assets at the end of last year, grew substantially through its acquisitions of Flagstar Bancorp and the failed Signature…
Read more Concerns about New York Community mount after chief risk officer’s exitThe $225 billion-asset bank is doubling-down on its partnership with the New York-based payroll verification and direct deposit account-switching firm Pinwheel to streamline new account fundings and bolster…
Read more Citizens Bank is changing up its direct deposit switch processFinancial institutions are looking to grow deposits and increase customer loyalty as business clients look to diversify deposits and manage liquidity. Bottomline Technologies’ Chief Revenue Officer for…
Read more Podcast: 3 technologies banks need now | Bank Automation News“I think if we had really focused on leveraging into multiproduct relationships, we’d see a different profitability model now,” RBC Chief Executive Dave McKay says of the recent…
Read more After City National reports a big loss, executives predict a turnaroundFinancial institutions are deploying investment technology in a bid to stop customers from withdrawing funds from their accounts and depositing them elsewhere. According to an October Fitch Ratings…
Read more FIs use investing tech to keep deposits|Bank Automation NewsEnjoy complimentary access to top ideas and insights — selected by our editors. Capital One is seeking the dismissal of a lawsuit filed by customers who received relatively…
Read more Capital One seeks dismissal of lawsuit brought by disgruntled saversThis weekly news quiz is presented by the Charlotte Observer. To find more quizzes from the Observer, visit our profile on Sporcle. Charlotte is a hot spot in…
Read more Can you name the 10 banks with the biggest market share in Charlotte, Mecklenburg County?First Citizens Bank headquarters in Raleigh, N.C. on Monday, March 27, 2023. Kaitlin McKeown kmckeown@newsobserver.com On March 27, Raleigh’s First Citizens Bank transformed its present and future by…
Read more What is SVB like under Raleigh’s First Citizens Bank? We asked NC Triangle startups.IDFC FIRST Bank is confident of clocking a much stronger profit growth over the next five years on the back of a good show in its core operating…
Read more IDFC FIRST Bank foresees steady surge in profit in next few yearsMegabanks like JPMorgan Chase and Wells Fargo have an edge in net interest income over their regional-bank rivals, according to Brian Mulberry at Zacks Investment Management. “If it’s…
Read more Profits soar at JPMorgan, Wells Fargo as they defy deposit pressures
