Banking news in the USA

An overview of news, trends and research in the Banking industry in the USA:

SRM acquires Kenneth J. Sole & Associates SRM (Strategic Resource Management), a Memphis, TN-based financial services consultancy, has acquired Kenneth J. Sole & Associates, a Holbrook, NY-based banking IT consulting firm.
12 July 2024
Callahan & Associates acquires CU Strategic Planning Callahan & Associates, a Washington, DC-based research and consulting firm specializing in credit unions, has acquired CU Strategic Planning, a Tacoma, WA-based provider of business planning services
01 May 2024
West Monroe partners with Backbase on banking transformation West Monroe, a Chicago-headquartered management and technology consultancy, has entered a strategic partnership with Backbase, an Amsterdam-based financial technology company, to help retail and comm
19 March 2024
Capco expands US community banking practice Capco, a global financial services sector consulting firm, has expanded its US community banking practice with a deeper array of digital offerings.
13 June 2023
McKinsey scolded by regulators for weak consulting work at Silicon Valley Bank The US Federal Reserve’s 102-page post-mortem report on Silicon Valley Bank (SVB) criticized McKinsey & Company for consulting work it performed for the now defunct bank in 2020 and 2021.
12 June 2023
KPMG defends clean audits of SVB and Signature Bank KPMG US defended its clean audit opinions of Silicon Valley Bank and Signature Bank, both of which collapsed within two weeks of KPMG signing off on their financials.
17 March 2023
ING Americas CIO Michel Houben on the transformation of the IT department When Michel Houben started as CIO of ING Americas, a year and a half ago, he found an excellent IT organization.
08 March 2023
Deron Weston appointed head of banking and capital markets at Deloitte US Deron Weston has been named sector leader for banking and capital markets within the financial services industry practice at Deloitte US.
14 October 2022
Most financial services firms expect cloud investment to increase revenues Most financial services firms (62%) expect cloud investments to increase their revenues in the next two years, while over half (52%) think they will boost profitability, according to research from co
24 February 2022
Amid 'Great Resignation,' banks see lowest turnover in years Even though many industries are struggling to retain talent amid a wave of mass resignations, banks have managed to cut down on employee turnover, according to Crowe’s 2021 Bank Compensation and Bene
14 October 2021
Bates Group acquires anti-money laundering specialist CorCom Bates Group, a financial services consulting firm based in Lake Oswego, OR, has acquired CorCom, a Spartanburg, SC-based consultancy focusing on anti-money laundering and financial crimes prevention
13 October 2021
'Progressive' banks outpacing 'traditional' rivals on digital battleground Forward-thinking “progressive” banks are – unsurprisingly – digitally outpacing those that are more traditionally-minded, according to a recent report from CCG Catalyst.
01 October 2021
Consumers willing to pay for digitalized banking services A new Capco study has revealed that consumers are willing to pay a premium for personalized, tech-driven banking services that are proactive in meeting financial needs.
01 July 2021
Global banking industry could lose up to $4 trillion in revenues The next five years will pose unprecedented challenges to global banking, with heavy credit and revenue losses.
21 December 2020
Human connection is a big advantage for US regional banks ‘Financial Harmony’ might just be the ticket to survival for regional banks in a digitalising, Covid-19-ridden world. This is according to a new report from global innovation consultancy R/GA.
21 September 2020
Capco's Eric Holmquist joins Customers Bank as CRO Eric Holmquist, a former managing principal at financial services consultancy Capco, has joined Customers Bank as chief risk officer.
08 September 2020
US banks need to prepare for massive credit write-offs, says Accenture US banks will face up to $320 million in credit write-offs this year due to the pandemic, according to a recent report from consulting firm Accenture.
11 August 2020
Wells Fargo to slash $1 billion from external consulting spend In the past twelve months, US’ third largest bank Wells Fargo spent around $3 billion on external consultants and contractors.
05 August 2020
KYC now a strategic issue for banks as compliance costs soar The increasing cost of ‘know your customer’ (KYC) resources within financial institutions is becoming a major strategic issue.
03 August 2020
Publicis Sapient helps Goldman Sachs modernize transaction banking Publicis Sapient, a digital transformation consultancy, collaborated with Goldman Sachs to build a cutting-edge transaction banking platform.
30 July 2020
Guidehouse and PwC to support Fed's Main Street Lending Program Management consulting firms Guidehouse and PwC have been selected to help manage the Federal Reserve Bank of Boston’s Main Street Lending Program, which offers loans to small- and medium-sized enterp
17 July 2020
Covid-19 makes transformation more urgent for banks The Covid-19 pandemic has compounded the issues global banks faced before the crisis.
28 April 2020
Xtensifi adds open banking consulting service Xtensifi, a digital consulting and development firm that works with banks, credit unions, and fintech providers, has launched a new open banking consulting service for financial institutions and fint
07 April 2020
Citi names former McKinsey partner David Chubak head of US retail banking Citigroup has named David Chubak as its head of US retail banking. Chubak has held senior strategic roles at the bank since 2013, when he joined Citi from management consultancy McKinsey & Company.
21 January 2020
How digital wallets can bolster loyalty programs Instant redemption of loyalty rewards through digital payments is driving new opportunities for financial institutions, unlocking increased loyalty program use and attracting key demographics, accord
24 September 2019
Bank customers want high-touch services, but wary of open banking Customers in North America want the high-services that open banking can provide, but are concerned with the need for data-sharing with third party providers, according to new research from strategy a
23 September 2019
To stay relevant, banks must digitize: BCG As the business landscape becomes increasingly digitized, banks would do well to adopt new technologies and advance their digital capabilities, according to “Banks Brace for a New Wave of Digital Dis
30 July 2019
Oliver Wyman partners with Corridor Platforms on credit risk solution Global management consultancy Oliver Wyman announced a strategic collaboration with Corridor Platforms, a provider of credit risk technology solutions.
12 July 2019
JPMorgan Chase opens high-tech branch with design support from Accenture JPMorgan Chase, the largest US bank, opened its flagship retail store at 390 Madison Avenue on June 25.
05 July 2019
Banks spending big bucks on digital, but not getting anticipated revenue gains Global commercial and retail banks have spent $1 trillion on IT operations (hardware, software, services, and IT staff costs), but the investment hasn’t yet delivered anticipated gains in revenue, ac
28 June 2019
Neobanks pressuring traditional retail bank models Research from A.T. Kearney projects that 1 in 10 banks will disappear in the next five years across Europe, as all-digital neobanks increase their market reach. A.T.
12 June 2019
Payments market projected to see 6.6% annual growth to 2027 Bank payment systems are big revenue generators for incumbent banks, and growth in the segment is projected to continue at a rapid 6.6% annual increase, from 1.3 trillion in 2018 to 2.
17 April 2019

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