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Retail banking trends to look out for in 2023

Independent Banker

ITMs and VTMs are popular retail banking innovations among community banks. What’s on the horizon for retail banking? We spoke with two community banks that have ramped up their services to meet—and exceed—the changing expectations of customers. So how are retail banks meeting this challenge? By William Atkinson.

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Express Inc. Net Sales Drop 53 Pct Amid Pandemic

PYMNTS

reported “continued momentum” with its The EXPRESSway Forward long-term strategy, as a phased reopening of retail locations started on May 1. The retailer, however, reported that consolidated net sales dropped 53 percent to $210.3 The retailer, however, reported that consolidated net sales dropped 53 percent to $210.3

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Instacart Collaborates With ALDI To Debut EBT SNAP Payments

PYMNTS

The initiative starts in the weeks to come throughout ALDI’s over 60 Georgia stores, while it will grow to over 570 retail locations throughout California, Illinois, Pennsylvania and Florida in the months to come. percent of the population in Georgia and disproportionately impacts communities of color.

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Instacart Rolls Out Delivery Service With Costco For Prescriptions

PYMNTS

The offering is now available from almost 2,000 stores in California, New York and Illinois, among other states, with plans to grow throughout the country in the months to come, according to an announcement. As it stands, Instacart partners with over 350 local, regional, and national retailers to provide delivery from over 25,000 stores.

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PSCU’s Lumin Digital Helps Mutual Security Credit Union Go Digital

PYMNTS

After conducting extensive research, we chose Lumin Digital because we believe it is the top online banking system on the market,” said Larry Holderman, CEO of Mutual Security Credit Union in the release. Our team worked in close coordination with the Lumin Digital team to execute a well-orchestrated conversion for our members.

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Remote Seller Taxation: A Job For Tax Automation

PYMNTS

Wayfair Supreme Court decision continue to rattle online merchants, as three states (California, Louisiana and South Carolina) are now trying to collect eCommerce sales tax retroactively, as far back as five years. Similarly, Illinois is eying close to $400 million in new annual sales tax revenue on ecommerce items shipped into the state.

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Is Amazon’s Delivery ‘Purge’ A Boon To Last-Mile Rivals?

PYMNTS

The net impact of Amazon’s decision translates to Bear Down Logistics’ facilities shutting down in Ohio, Virginia and Illinois in April — with 280 positions lost. Postmates said its overall Delivery-as-a-Service has leapt by more than 300 percent year over year across retailers. Yet, in a competitive market, pay may matter.

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