Retail

Banks have expressed wariness of the success of FinTechs in gathering deposits in recent years.  These organizations appear to be growing faster than our industry, building share and “eyeballs”, and yet, none has shown meaningful profits.  In fact, even many of those that have been acquitted by larger banks, such as Simple and BBVA, ended up sunsetting.  Fintechs traditionally focused on a narrowly defined product line and consumer segment. That, coupled with their never-ending quest for…

Retail banking has been the backbone of community bank funding and franchise value building for decades. Common wisdom said: Commercial banking generated the revenues and retail banking funds it. This prevailing view rendered banks helpless when technological innovation demanded more from the retail business, well beyond the branch. From ATMs to mobile banking, and now to Real Time Payments and Zelle, the cost to serve consumers continue to increase. At the same time, revenue from…