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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?

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Credit Unions Unite Behind Digital Banking

PYMNTS

These and other 19 th -century proto-cooperatives were the forerunners of today’s credit union (CU) community. Early innovators managed cooperatives using the same founding principle that CUs use today: members-first finance in place of indifferent, legacy-style banking. The Rochdale Society of Equitable Pioneers.

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SMBs Remain Hot Spot For Open Banking Business Models

PYMNTS

Intuit QuickBooks Director of Corporate Affairs Rob Burlison said the research “shows that small businesses are in danger of missing out on the massive benefits open banking could bring.”. “It still failing within the first five years, open banking is a great opportunity to help more small businesses in the U.K.

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How JPMorgan Is Preparing For The Next Generation Of Consumer Banking

CB Insights

Finn is JPM’s mobile-only bank, and represents JPM’s attempt to jump on the mobile-only banking trend before it becomes the norm. Finn is run out of a separate office from the rest of JPM and Chase, and Finn Head Melissa Feldsher described the unit by saying, “we think of ourselves as a startup in the bank”.

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