Banking

Online and mobile banking traffic at Bank of America soared in the last year, including a 60% spike in the use of its virtual assistant Erica. David Tyrie, the company's head of digital, wants to keep driving adoption by pitching financial planning tools to millennials and Gen Z.

The London-based banking giant announced a plan this week to exit the mass-market U.S. retail business and focus on managing the wealth of affluent globe-trotters. But other international banks will provide stiff competition.

The firm grew its total assets under administration by 30% year-over-year, reaching $530 billion.

Senator Elizabeth Warren and other critics plan to ask whether banks are prioritizing buying back stock and rewarding employees over supporting the real economy.

Cypress Trust in Palm Beach is poised to pull off a rarity: the conversion of a wealth management firm into a community bank. It’s simply another way to take advantage of the ongoing melding of the two financial services sectors, CEO Dana Kilborne says.

How digital capabilities are supporting small business operations amid disruption

Advisors and clients at Bank of America's brokerage can now collaboratively create multiple accounts across the firm simultaneously.

An interactive dialogue with Founder and CEO of NorthOne on the fintech industry, the growing needs of challenger banks, and the future of SMB banking.

Stuck at home in quarantine, technology editor Ryan W. Neal finally repaid the graduate-school debts that had hung over his head for a decade.

Harvest’s micro-saving and investing technology is designed to turn spenders into savers, and eventually into investors.

Known for giving away its signature canary-hued Converse to employees and clients, this small API-centric fintech is poised to become a significant player in open banking thanks to parent company Mastercard and its vendor status with Fannie Mae and Freddie Mac.

For just $1,000, clients can sign up for the firm’s purely digital automated advice service.

Given the current nest egg shortfall in America, and that $1.7 trillion may not move the needle, Bloomberg’s Nir Kaissar says the message to save is key.

The CEO of Chase Consumer Banking and a member of JPMorgan’s leadership team, Thasunda Brown Duckett has been tapped to replace Roger Ferguson as CEO of the retirement services provider.

Unsecured personal lending has fallen as many consumers have stashed away cash and paid down credit card balances during the pandemic. The trend probably won’t reverse course anytime soon.

The automated investing tool is part of Goldman Sachs's effort to be a full-service digital bank and to help partners like Apple and Stripe offer financial products, according to Stephanie Cohen, global co-head of consumer and wealth management.

Banks weren't involved in the trading frenzy, but some observers say the regulatory response should address risks to all financial institutions.

In the new Form CRS, firms must justify whether they place client assets in advisory or broker accounts.

Acquisitions of wealth management, insurance, fintech and other firms are expected to pick up as banks seek new sources of fee income and look to improve digital capabilities.