Six ways financial institutions can prepare to better connect with customers who are nearly all digital-first now.
Steve Williams, president of bank consultancy Cornerstone Advisors, writes: In under three years, the 10-year bond yield dropped nearly 200
In November 2020, Ron Shevlin, Managing Director of Fintech Research at Cornerstone Advisors, wrote: “Reports of credit cards’ death (or
“You want to merge when you’re in a position of strength,” says Vincent Hui, managing director at Cornerstone Advisors, “because
Short-term moves to fill earnings shortfalls on the backs of customers will backfire spectacularly.
A recent survey from Cornerstone Advisors shows that most senior bank and credit union execs aren’t interested in offering cryptocurrency
Ron Shevlin’s not convinced there’s been much digital “transformation,” but skyrocketing adoption can mean increased fraud.
A Cornerstone Advisors study found that only a quarter of banks and credit unions had embarked on a digital transformation
According to Ron Shevlin, director of research at Cornerstone Advisors, over the next five years, no megatrend will have a
Smaller community FIs feel they’re limited to the solutions their core vendors offer, says Brad Smith, partner at Cornerstone Advisors,
Some observers think Walmart is working on a “super app” to serve consumers that are “overlooked and underserved by a
These days “you’re not going down to the candy store,” said Alex Johnson, director of fintech research at Cornerstone Advisors.
A recent Cornerstone survey of banks and credit unions about their technology vendor contracts found more than half of financial
Growth in use of the Apple Card by Boomers doubled in 2020, according to research by Cornerstone Advisors.
Only about one in four Square merchants receive 30 or more Square payments a month, according to a Cornerstone Advisors
According to research from Cornerstone Advisors, at the beginning of the pandemic, a mere 4% of mid-sized banks had implemented
Recent analysis from Cornerstone Advisors indicates that the banking industry may be reaching saturation of digital adoption across the majority
Roughly one third of Millennials and almost half of Gen Zers don’t have a credit card, according to a recent
Cornerstone Advisors’ Ron Shevlin named among top 10 global fintech influencers.
“Investments in digital are not the same as investments in deposits,” said Alex Johnson, director of fintech research at Cornerstone
According to Cornerstone Advisors, 76% of lenders believe their payment services are above average, while only 41% of customers said
Financial institutions can improve branch productivity and realize a positive ROI from ITMs, said Ron Shevlin, research director at Cornerstone
According to Cornerstone Advisors, checking account openings in digital channels exceeded branch openings in 2019 and grew to 66% of
Cornerstone’s Ron Shevlin named among world’s 10 best fintech influencers.
PayPal is hardly in danger of becoming obsolete, but it will see its dominance in mobile payments chipped away by
The key for many credit unions will be their digital capabilities, said Vincent Hui, managing director at Cornerstone Advisors.
Between 2013 and 2020, Chime grew to 8 million customers, then saw 4 million more come aboard last year alone,
Apple Pay Later confirms what smart people in the space already knew: Buy Now, Pay Later is a feature, not
“There is nothing that the startups are coming to market with that is new or different,” said Ron Shevlin, a
The fintech market is smokin’ hot right now. But is it headed into a warm, steady burn, or will it
According to Cornerstone Advisors, Chime’s customer acquisition rate more than quadrupled in the past year—and many of those new customers
From 2013 to 2020, Chime grew its customer base to eight million. Then, in just over a year, it garnered
Three winning core strategies to accommodate any financial institution’s budget, business case, and future vision.
No amount of fines or lawsuits will stop Robinhood from going public and getting a $30 billion valuation with its
Kabbage Checking is a way to retain SMB relationships, says Ron Shevlin, Research Director at Cornerstone Advisors.
Chime added 4 million customers over the past year, according to Cornerstone Advisors.
The “all things” model is done, says Vincent Hui, Managing Director at Cornerstone Advisors.
Ron Shevlin wonders if Walmart’s debit card turned full featured checking account will be a competitive threat to banks or
Ron Shevlin at Cornerstone Advisors notes in a blog that credit unions and megabanks were the losers in 2020 in
A Cornerstone Advisors survey showed that 60% of cryptocurrency owners would use their bank to invest in cryptocurrencies if they
Cornerstone’s Jim Burson discusses how to move beyond a buzzword project to effect true strategic change.
Walmart’s interest in the MoneyCard changes may have little to do with its banking ambitions, insists Ron Shevlin, Research Director
Walmart is competing with Amazon and Square and playing a much bigger game than just banking.
According to a February 2021 report from Cornerstone Advisors, however, N26 still has some catching up to do with the
Growth in the fintech space spells partnership opportunity for banks, says Alex Johnson, director of fintech research at Cornerstone Advisors.
Cornerstone Advisors’ 2021 “What’s Going On in Banking” report found that 70% of responding banks were interested in a fintech
Transform your customer care function from a back-office cost center to a 21st century competitive advantage.
Vincent Hui, managing director at Cornerstone Advisors, said many credit unions may not invest in Curql and others like it
Half of all community banks and credit unions used DAO to field less than 5% of their new checking account
You’ll need a PhD in statistics to figure out the impact of Coinbase debit card spending, says Ron Shevlin.
Ron Shevlin suggests that Chase force the industry’s hand by killing overdraft fees. As of mid-June 2020, that hadn’t happened.
The average incident sinks companies’ share prices by 5-7% on average, says John Meyer of Cornerstone Advisors.
“As a consumer, what you really want is a master account that pushes your money in all the directions that
While it might be a no-brainer for Amazon to partner with a bank to offer a checking account, I think
The way for banks to succeed in the buy now, pay later space is to join the fray and compete
According to Sam Kilmer, a senior director at Cornerstone Advisors, “It’s basically just getting inside the club in an easier
Banks and credit unions will wait to see who eliminates overdraft fees. If a few make the move, there will
There is no easy onramp right now for couples to weave their finances together, said Alex Johnson, director of fintech
Who will win is yet to be determined, but banks are shaping up to be the big losers in this
“If the introduction of new products or member experiences is a priority, I would strongly recommend direct partnerships with fintech
Cornerstone Advisors’ 2021 What’s Going On in Banking report found that traditional banking providers see challenger banks and neobanks as
A $370 billion opportunity to provide accounting and payments services to small businesses is at stake, estimates Cornerstone Advisors.
According to Cornerstone Advisors research, 80% of buy-now-pay-later users make their bill and loan payments on time.
PayPal’s CEO Dan Schulman says the company wants to become a “super app.” That’s the last thing the market–or PayPal–needs.
88% of Millennials and Gen Z access their bank accounts using mobile devices, with Baby Boomers and Gen X not
“PPP highlighted, in stark terms, the larger problem that we’ve been dealing with for a long time — that Black
The companies cite a new study from Cornerstone Advisors and StrategyCorps that showed the number of consumers who use a
Most banks that launched their digital transformation plans didn’t do so until 2019 and 2020, according to Cornerstone’s Advisors’ What’s
According to a Cornerstone Advisors survey, the number of Apple Card customers more than doubled over the course of the
According to Cornerstone Advisors’ Ron Shevlin, as consumers expand the number of financial institutions they are willing to work with,
Banks are finally seeing bitcoin as a legit service that their customers want, said Ron Shevlin, director of research at
Should financial institutions freak out and start looking for a new secondary network dance partner? NO, or at least not
Chase CEO Jamie Dimon told analysts: “We should be scared s—-less about [the rise of fintech players].” Other banks should
A recent study by Cornerstone Advisors found that 15 percent of Americans own some form of cryptocurrency. More than half
Cornerstone’s Managing Director, Ron Shevlin, advises banks to consider designing fraud assurance into their mobile platforms.
According to research from Cornerstone Advisors, as of the end of 2020, 13% of banks and credit unions were using
Banks are finally seeing bitcoin as a legit service that their customers want, said Ron Shevlin, director of research at
The idea that banks’ mobile banking capabilities are failing consumers makes for good press, but it isn’t really true, said
A 2020 survey of 3,000 consumers from Cornerstone Advisors found that only 7 percent of respondents sought to split their
While the complexity of the market may add pressure on “old-school” BaaS players like Green Dot, its embedded finance play
A settlement agreement reached with California regulators shines a spotlight on how out of touch current bank regulations are.
Chime now has more than 12 million U.S. customers, according to a recent estimate by Cornerstone Advisors and StrategyCorp.
In response to a Cornerstone Advisors survey from December 2020, the variety of Apple Card prospects greater than doubled over
Using smartphones to deposit checks has become commonplace. According to a Cornerstone Advisors survey, 32 percent of individuals aged 55-64
“Bank and fintech partnerships are a win/win: they help banks offer services that would take years to develop and they
According to a December 2020 survey by Cornerstone Advisors, more than 15% of U.S. consumers — 40 million people —
A big opportunity exists for banks that reduce the friction and handoffs between front- and back-office workflow, says Vincent Hui,
Merging for geographic expansion is not the best strategy for every bank, said Ron Shevlin, managing director of fintech research
The number of Apple Card customers more than doubled over the course of 2020 to 6.4 million Americans. Where did
The war for talent in the fintech space raises a provocative question: Should fintech startups hire executives (and other employees,
Most CUs won’t go back to the status quo of 2019 when COVID-related restrictions go away, says Jim Burson, managing
70% of consumers surveyed by Cornerstone Advisors in 2020 said depositing a check was one of the most important mobile
Cornerstone Advisors published a report identifying embedded fintech opportunities for banks, including bill negotiation services, subscription management, data breach and
Research from Cornerstone Advisors and StrategyCorps found that in 2020, challenger banks’ share of primary customers grew 7%, compared to
Small community banks desperately need fintech partnerships. A survey by Cornerstone Advisors found that 65 percent of banks and 76
Who’s the best bank in America? Capital One, USAA, Chime, and Bank of America have the highest percentage of customers
Ron Shevlin, director of research at Cornerstone Advisors, says many of the newer players don’t care if they’re a consumer’s
“We’re in a market shift,” observes Jim Burson, managing director at Cornerstone Advisors. If some financial institutions are trying to
It may take a few years to determine how widely the FOM rule is being used, said Vincent Hui, managing
A survey by consulting firm Cornerstone Advisors found that as of December 2020, about 15% of U.S. millennials had primary
15% of US adults now own some form of cryptocurrency, with a little more than half investing for the first
A recent survey by Cornerstone Advisors found that eight in 10 senior bank and credit union executives have no interest
Google Plex is expected to launch sometime in 2021. Early research by Cornerstone Advisors indicates that the partnership’s offerings could boom.
A Cornerstone Advisors survey of senior bank and credit union executives found that eight in 10 financial institutions have no interest
Vincent Hui, managing director at Cornerstone Advisors, said credit unions are looking at alternative fee sources such as interchange to
Financial institutions should make data analytics a key component of their revenue growth strategies, says Cornerstone Advisors’ John Meyer.
The Covid period is likely the last ‘gimme’ for traditional financial institutions, say innovation thought leaders Ron Shevlin and Jim
The ever-snarky Ron Shevlin, Director of Research at Cornerstone Advisors and frequent columnist at Forbes, sits down with Ryan Zauk.
Analyze the competition, study trends in debit, credit, fraud and vendor management, and build a custom roadmap for your bank
Research from Cornerstone Advisors estimates that roughly 3.25 million accounts have been opened across the seven leading U.S. neobanks thus
Even before the pandemic, “we were already headed in the right direction—smaller footprints, more self-serve automation, fewer teller lines,” says
Cornerstone Advisors research found that the average abandonment rate for new deposit account openings is just over 50%; for lending
For many FIs the secret to competing with Google Plex lies not in watching what Google is doing, but in
Banks can create new revenue streams from new products and services created by fintech startups—a strategy called embedded fintech.
John Meyer, senior director at Cornerstone Advisors, said Alloy differentiates itself with application programming interfaces that let customers plug into
Unlike some regional banks, KeyCorp isn’t hunting for a good, old-fashioned bank merger to drive growth.
As credit unions rebalance service delivery since the pandemic, renting excess square footage to another business is being reviewed in
Coping with COVID-19 teaches leaders the way forward for business continuity.
Read Ron Shevlin’s latest Forbes article on how banks are (not) measuring up in the digital banking arena.
Cornerstone Advisors Senior Director Sam Kilmer stressed that any financial institution more reliant upon in-person branch delivery to differentiate their
Sam Kilmer of Cornerstone Advisors said, “[Banks] should keep an eye on it [and think] ‘Are my bank’s payments top
According to Ron Shevlin from Cornerstone Advisors, over the past three years, regional banks, credit unions, and community banks have seen
Research by Cornerstone Advisors found that 80% of BNPL users surveyed said they always pay their bills in full and on time
Much of credit unions’ growth in 2020 was attributable to the mortgage refinance boom and the PPP, noted Vincent Hui,
New research from Cornerstone Advisors revealed that more than three-quarters of Americans who have a smartphone are now mobile banking
According to the latest survey from Cornerstone Advisors, mortgage and auto loans are No. 1 and 2 on credit union executives’
It can be difficult, without charging penalties and fees, to generate enough revenue from consumers with relatively low incomes, said
A new customer digital experience that doesn’t deliver long-term results won’t matter in the long run.
One of the benefits you get from acquiring a bank is that you don’t have the drag of a start-up,
Mobile deposit capture played a key part in digital banking’s widespread adoption during the height of the pandemic, but this
Cornerstone Research Director Ron Shevlin said younger consumers are more likely to pay with apps and do so more often.
“It’s a go-forward strategy that every community bank and credit union should be actively leveraging to steal market share,” says
Has the time come for chatbots to become as ubiquitous in banks as mobile banking apps?
The significance of Itria Ventures’ rise to #3 for PPP dollar volume and loans wasn’t lost on Joel Pruis, a
The retailer’s aspiration is to reinvent the way goods and services are provided to low- to middle-income consumers.
A recent Cornerstone Advisors report highlighted that half of all credit unions and 58% of banks said they expected to
The credit union owners of Member Business Lending were advised by Cornerstone Advisors on the transaction.
A new study from Cornerstone Advisors found that 76% of all smartphone owners use mobile apps to manage their finances
In the past year, a greater number of consumers have used buy now pay later for items costing $500 or
Acquisition of digital origination provider Terafina reads like a good add for NCR.
Even among seniors, more than one in 10 deals with a ‘shadow’ provider of checking, savings, credit cards and investment
While banks struggle to personalize their sales messages, a new group of fintech are entering the market, personalizing their products
While many banking industry experts are unsure what will occur in the coming year, some executives surveyed for the Cornerstone
A new study from Cornerstone Advisors found that 75% of Americans are turning to Big Tech companies like Apple, Google,
Chime, the nation’s largest digital bank, which has more than 12 million followers, according to an estimate by Cornerstone Advisors, struck
Similar to the “end of fintech experimentation,” as stated by Ron Shevlin, banking execs are moving away from hype and
In Cornerstone Advisors’ What’s Going On in Banking study, only 21 percent of banking execs ranked cybersecurity as a top
Consumers’ use of Apple Pay, Google Pay, PayPal Affirm, Bitcoin, and other mobile apps adds up to $250 billion in
FIs’ renewed focus on revenue generation, vendor relationships and new product development is great – but someone needs to be
A study last year by Cornerstone Advisors found that over the past two years, 43 percent of those who used
A 2020 Cornerstone Advisors report found that 14.6 million Americans considered digital banking to be their primary way to the
Various sources, including Raddon and Cornerstone Advisors, have noted that consumers are much more open to having accounts or banking
Cornerstone research found that US consumers are turning to non-bank financial services providers to meet their unmet needs.
Cornerstone survey finds CU and bank executives’ outlook on 2021 is a “mixed bag,” with healthy doses of both optimism
Cornerstone Advisors’ “What’s Going On in Banking 2021: Rebounding From the Pandemic” offers insights into bank and CU priorities.
Michael Watkins, who specializes in telecom/ATM contract negotiations for Cornerstone Advisors, said there has been increasing interest from FIs about
Addressing the problems created by the GameStop and Robinhood debacle will give rise to a new batch of “anti-Robinhoods”—fintechs dedicated
At 46.2 million users, Venmo has just shy of four times the 12 million customers Chime has, as estimated by
Tony DeSanctis, senior director at Cornerstone Advisors, noted that 2020 saw a significant migration from credit to debit as a
In a recent interview, Ron Shevlin, director of research at Cornerstone Advisors, suggests that even when Amazon partners with a
Fintech partnerships aren’t producing the revenue they could be, according to research by Cornerstone Advisors.
That alarm bell can be found in a new study from Cornerstone Advisors and StrategyCorps, which estimates that 12 million
A time of reckoning may be coming for lackluster and misguided fintech partnerships, suggests Cornerstone’s “What’s Going On In Banking
A significant chunk of the marketplace still values a branch when making decisions, Jim Burson, managing director of the channels
Bowman joins a speaker lineup that includes NBA champion “Magic” Johnson; Hakeem Oluseyi, an internationally recognized astrophysicist; and Ron Shevlin,
The impetus is out there to see. For example, a study by Cornerstone Advisors and StrategyCorps found that Chime, the neobank,
“Leadership has never gone out of style; it’s never gone out of demand. It’s just that the skill sets have
Jim Burson, managing director in the channels practice for Cornerstone Advisors, expects credit unions will pursue mergers and bank-branch acquisitions
A new research report from Cornerstone Advisors reveals that while nearly half of mid-size bank and credit union executives are more optimistic about
On this episode, I talked with Joe Welu, CEO of Total Expert, and Sam Kilmer, Senior Director at Cornerstone Advisors, about clearing the obstacles
A new report from Cornerstone Advisors on what 2021 holds for the financial services industry has found a “mixed bag,”
A recent study from Cornerstone Advisors and StrategyCorps estimates that 12 million US consumers are now customers of online bank
Cornerstone Advisors recently released its “What’s Going on in Banking 2021: Rebounding from the Pandemic” report that details many topics, trends,
According to Cornerstone Advisors’ What’s Going On In Banking 2020 report, 72 percent of 300 community-based FI executives expect that the
Cornerstone Advisors just concluded its most recent Mobile Deposit benchmark report, which surveyed close to 2,000 American consumers. Among consumers
Meanwhile, fintech acquisitions “are highly likely” for the small but tech-savvy Citizens Bank of Edmond in Oklahoma, CEO Jill Castilla
The new Backbase report, Digital Sales Benchmarks and Best Practices for Financial Institutions, was developed in conjunction with Cornerstone Advisors and
Backbase teamed up with Cornerstone Advisors to assess the digital sales processes of 184 North American banks and credit unions.
Data released by Engagement Banking technology provider Backbase has revealed that enhancing digital account opening and product origination—collectively known as digital sales—is
Cornerstone’s Ron Shevlin makes this list of experts who are “reshaping the financial landscape across different technologies and different countries
Cornerstone Advisors hires industry veteran Steve Wildman to help meet increased demand
Ultimately, Walmart’s announcement is part of the larger battle between retailers moving into financial services and banks and who can use
Vincent Hui, managing director at consultant Cornerstone Advisors, said lenders may be more leery of approving loans strictly based on
Using data will help banks better define which branches are worth keeping open and which ones are candidates for closure,
Apple launched its first credit card in August 2019, and just seven months later the Apple Card had an estimated 3.1 million
Consumer research from Cornerstone Advisors revealed that roughly 3.1 million people in the US had the Apple Card in March
The stakes have never been higher for all financial institutions.
A recent Cornerstone Advisors survey suggested only 7% of U.S. consumers have made a purchase using a BNPL service —
The truly “hot” technologies in banking are the ones that financial institutions invest in—not necessarily the ones the pundits talk
Johnson joins a speaker lineup that includes Ron Shevlin, managing director of fintech research at Cornerstone Advisors.
It’s one of our highlights every year to cover these tongue-in-cheek awards that provide us with industry highlights of the
About 15% of U.S. millennials held primary accounts at digital banks in December, up from 5% at the start of
James Robert Lay of the Digital Growth Institute and Sam Kilmer of Cornerstone Advisors join me in discussing ways financial
People are logging onto mobile banking because of the pandemic. Financial institutions are scrambling to serve them, but they’re still
Watch the full webinar with Digital Growth Institute’s James Robert Lay, Total Expert’s Joe Welu, and Cornerstone Advisors’ Sam Kilmer for tips on educating
FEATURING: Ron Shevlin, Managing Director of Fintech Research at Cornerstone Advisors
2021 will be the year of value-chain disruption – at least according to Ron Shevlin in his piece in Forbes called
A marketplace bank “pursu[es] a platform strategy by attracting both buyers and sellers and providing transaction integration and processing capabilities,”
According to research conducted by Cornerstone Advisors in 2020, Chime had the highest number of consumers — 4.3 million —
“I think there are probably two forces at play,” said Jim Burson, managing director of the channels practice at the
Steve Williams, president and partner at Cornerstone Advisors, said his firm is also hearing from client CUs that loans have
Arizona-based FI consulting firm Cornerstone Advisors noted that just three major banks have 47 percent of the accounting and payment
The merger is one of the largest of its kind in the credit union industry, and was recently hailed by GonzoBanker.com as
Bank merger volume was down significantly in 2020 from 2019, thanks to the pandemic. What can we expect in 2021?
According to Cornerstone Advisors, 97% of buy now, pay later users have a credit card; and 7 in 10 of
It seems unfair to names winners AND losers in fintech for 2020. The compassionate thing to do would be to
Small and midsize banks “don’t have the resources and abilities to put their fingers into as many opportunities as large
What could put an insane year on a positive track better than the Gonzo team raising thumbs through the GonzoBanker
Currently dominated by fintechs, this layaway option is drawing scrutiny that is beginning to worry some experts.
The key design considerations for better fintech product adoption per a Cornerstone Advisors study is easy to set up an
A July 2020 survey of US consumers from Cornerstone Advisors revealed that 14.2 million US residents—6% of US adults with
If another round of checks is coming, here’s an idea on how to make even more money on the windfall.
Ron Shevlin talks with the CEO of Green Dot about their plans there as well as how they are taking
Once the economy improves, banks could consider releasing some reserves, said Onker Basu, a former banker who is now a
Banking-as-a-service is not as large a segment as some think it is. As a result, BaaS players will migrate towards
Based on a 2018 Cornerstone Advisors report, the median amount spent on IT as a percent of assets among credit
The industry “should put a significant amount of stock” in the ACSI numbers, said Steve Williams, a cofounder of the
Vincent Hui, managing director at Cornerstone Advisors, said the broader issue of the viability of a remote workforce model often
Kinecta Federal Credit Union, with headquarters in Manhattan Beach, raised more than $90,000 during its 47th Annual Thanksgiving food event.
Cornerstone Advisors experts Ron Shevlin and Daryl Jones joined the Basis Point’s Julian Hebron for a discussion on how today’s
According to a recent report by Cornerstone Advisors, more Americans than ever are turning to online banking as their primary means
Only about a third of banking execs surveyed by Cornerstone Advisors in late 2019 thought Square (along with PayPal, Credit
2021 is going to be the year of value chain disruption in banking and fintech.
In order to turn the tide on decades of systemic disparity, bank lenders may need to reconsider not only how
Some 43% of BNPL users have been late to make a payment over the past two years, according to a
As Cornerstone Advisors’ Ron Shevlin notes, only one out of five banking executives consider digital banks like Chime, Aspiration, Dave
10 priorities for your board as it sets a vision for this new decade
Google announced a relaunch of its Google Pay app, which will incorporate Google Plex–a checking account–in 2021. Google Plex is
It’s normal for an acquirer to fold an acquiree’s technology into its infrastructure, according to Sam Kilmer, senior director at
Ron Shevlin writes about a new survey conducted by Cornerstone Advisors on the Buy Now Pay Later space, looking at
Decisions will be largely individual, said Ryan Myers, senior director at Cornerstone Advisors.
Buy Now, Pay Later (BNPL) purchases are hot. But not as hot as you think: Just 7% of Americans will
Chime has turned into the largest digital bank in the US when it comes to variety of prospects. Ron Shevlin
Consumers who open accounts with digital banks don’t do so because they want a bank with no branches. says Ron
Without any fanfare, Apple has launched a web portal to take applications for its credit card, the Apple Card. Why?
The key to Chime’s success is NOT a better mobile banking user experience–it’s the hooks it offers that attract consumers
A Cornerstone Advisors report revealed banks are already generating $11 billion from accounting and payment services1, but three megabanks have
Only a third of credit cardholders link a credit card to their Apple Pay or Google Pay accounts. That means
Findings from a July 2020 survey conducted by Cornerstone Advisors found that 14.2 million Americans now consider a digital bank
Steve Williams talks about how Cornerstone is pushing through COVID-19, strategic considerations, small credit unions, and what businesses should be
“This sounds more like a case of fraud than technical issues,” said Ron Shevlin, managing director of fintech research at
Ron Shevlin shares details of a new study from Cornerstone Advisors that explores the new checking account offering from Credit
Ron Shevlin, Director of Research at Cornerstone Advisors, pointed me to a couple of novel products from fintechs (though not
Digital asset holders make up at least 15% of the 18-and-older U.S. population, based on 2020 data from Cornerstone Advisors.
When Citizens Bank of Edmond was in crisis, a company with a high-tech system that lets banks sell excess deposits
According to Cornerstone Advisors research, the pandemic exposed a $371 billion opportunity for financial institutions to provide accounting and payments
A recent study from Cornerstone Advisors estimates that a little more than 6 million Americans are using the crypto exchange.
In today’s financial services environment, not serving customers digitally is not an option.
According to a new study from Cornerstone Advisors and FICO, nearly three in 10 US consumers engage with Credit Karma
PayPal’s new service eliminates two hurdles regarding the use of cryptocurrencies for retail purchases.
According to Ron Shevlin, a top fintech expert, the banking world is convinced that the coronavirus health crisis is accelerating
Smaller banks and credit unions can bring unique value to the mobile ‘arms race.’
Earlier this year, credit unions across the country completed a task that was previously almost unthinkable — they managed to
A growing number of consumers are comfortable with having their primary account at a digital-only institution, based on a July
There’s too much at stake to put planning off until certainty arrives — if you want to survive.
Modern banking is all about making it easier for people to connect to their money faster and more efficiently.
Why are so few banks pursuing fintech partnership opportunities that could generate revenue for both parties?
Consumers on the prowl for higher rates on their savings or more places to spread out their cash have a
Indian IT services sector is likely to see minimal revenue growth in 2020 amid the coronavirus pandemic, says Fitch Ratings.
More than one in five consumers are completely disengaged from it.
With low customer engagement, banks have to do more than just retain customers—they have to reacquire them.
Ron Shevlin shares some of the latest research from Cornerstone Advisors that shows the financial situation of 44% of Americans
Many credit unions are striving to move forward faster and better with mobile and online delivery.
Launching a new credit union is a daunting task in an optimal operating environment, but doing it during a global
Credit unions must continue to engage members by being different from their competitors even as delivery emphasizes online and mobile.
Many financial institutions are creating their mobile and online features to resonate with Gen Z and Millennials, sometimes alienating older
The health care industry can calculate hundreds of health-related scores from a few samples of blood. In financial services, the
Ron Shevlin digs into account opening trends and finds that digital applications to open primary checking accounts overtook branch applications
Cornerstone Advisors’ Sam Kilmer suggests where credit union leaders should focus their digital transformation efforts.
It’s the same story at banks across the Triangle: A boom in new mortgages has lenders rallying – working overtime
Having more women as tech executives and in tech more broadly will become increasingly important as CUs leverage fintech.
With the megabanks’ and digital banks’ focus on digital channels, checking account openings in digital channels exceeded branch openings in
Identify activities that will have the biggest impact on your operational foundation.
New study from Cornerstone Advisors reveals that most banks and credit unions fail to consider the critical role consumer engagement
Here’s the cold hard truth about innovation and banking: Banks could innovate and still get “Kodaked.”
Online shopping has exploded during the pandemic. And alongside that, there’s been a boom in plans that let shoppers pay for the
A new website and service from Breach Clarity makes the process easier and better—for both consumers and banks.
Ron Shevlin offers 4 classes that VCs and fintech entrepreneurs ought to have discovered.
On Twitter today, Matt Moulding, The Hut Group Founder, will collect about £19.4m a year in rent from the company
The Credit Union System COVID-19 Restart and Recovery Task Force released new findings for credit unions regarding business continuity, digital
Here are four lessons that VCs and fintech entrepreneurs have learned—or should have learned—after all this investment.
These tumultuous times uncover troubled loans, delivery gaps and growth opportunities.
Credit unions have more peer-to-peer payment options than ever before, but many institutions are still watching the action from the
Banks and credit unions should emulate what made fintech lender Rocket Mortgage what it is today, and it wasn’t bells
In today’s financial services environment, not serving customers digitally is not an option.
The BeagleBoyz’s bank robberies pose operational and reputational risks to banks.
Here are seven newsletters doing a good job of reporting what’s going on in fintech.
As banks focus on digital capabilities, financial technology companies that can deliver best-in-class solutions are achieving record-high valuations.
Facebook faces some challenges to growing its payments business, including: 1) economics; 2) digital commerce; and 3) politics.
Banking executives should take a page out of the software industry playbook and adopt an agile approach to planning.
The tech giant’s co-branded accounts give smaller players a chance to leverage tech and branding to scale business away from
American Express is buying “substantially all” of the online lender Kabbage, but not its loan portfolio. So what is it
Being agile, decisive and responsive during times like these are key to a future of thriving, not just surviving.
Banks have yet to feel the cybersecurity impact of cloud computing.
The beginning of 2020 saw a sharp increase in the trading of cryptocurrency such as Bitcoin and Ethereum among others.
Recent deals at nCino, Black Knight and Ellie Mae are a shot in the arm to a market in need
Are credit unions going after fintech relationships the right way?
The opinion that cryptocurrencies can make everyone, even a child, a millionaire, was confirmed last week.
The Big Tech firm inserted itself back into the news this month with the announcement of six new partners, and
Seamless and secure digital identities will save effort, time and money for institutions and consumers alike.
The pandemic forced credit unions to have employees work from home, and executives are considering ways to ensure productivity doesn’t
Bitcoin has burst through its ceiling, leapt 15% and is now tickling a new ceiling of $11,000.
Three digital banking experts assess the competitive impact of this newly launched fintech national bank.
After announcing a big push into financial services at the Money 2020 conference last fall, Uber revealed it will scale
Credit unions leverage asset liability management tools to weather the pandemic storm.
As the landscapes of core processing and financial technology evolve, community banks are carefully considering their long-term relationships with these
Bitcoin broke its $11,000 resistance earlier this week, spurring double-digit gains across a broader set of altcoins.
New generation players are chipping away at incumbent banks’ market share, and not only in the mass banking and unbanked
The pandemic period may prove to be the make-or-break time for true digitization in banking.
As the pandemic forces a shift in customer service, it’s imperative credit unions understand how content delivery is replacing in-branch
Crypto adoption is growing, some experts say that banks should consider using Bitcoin in their products.
Trading of Bitcoin, Ethereum and other cryptocurrencies increased sharply at the beginning of 2020, then jumped to a new high
Every financial circumstance has a unique set of causes. Credit unions’ responses must be custom as well.
For Marcus by Goldman Sachs, the bank’s digital consumer brand, large consumer-obsessed online companies are a bigger source of inspiration
CRM offerings are moving from siloed sales solutions to highly integrated and user-friendly platforms.
While some European startups have had to retrench, U.S.-based fintech competitors like SoFi are plunging ahead with aggressive charter moves.
14.2 million Americans now consider a digital bank to be their primary bank—that’s a 67% jump from January 2020.
The pandemic has put a magnifying glass over the economy and the ability of financial institutions to evolve and predict,
Gina DeCorla, a Senior Analyst for Informa Financial Intelligence, argues that credit unions do not need to partner with Fintech
The Financial Brand’s Jim Marous’ article, “empty banks don’t help a community,” struck a nerve with Ron Shevlin.
The key to successfully navigating the downturn lies within a CU’s ability to cultivate quality member relationships.
Cornerstone Credit Union League’s service corporation Credit Union Resources, Inc. is partnering with Cornerstone Advisors to help credit unions reduce
The COVID-19 pandemic has pressed credit unions to double down on efforts to enhance their offerings of electronic services as
Ron Shevlin of Cornerstone Advisors analyzed the data released by the SBA for loans above $150,000, which represents a total
To put it mildly, the veracity of the PPP loan data set is questionable.
Regardless of their viewpoints on capital recovery, now is the time for banking leaders to reevaluate their planning strategies.
One credit union finds success with test of securitization; subordinated debt also in play.
With state reopening efforts continuing but coronavirus cases spiking in many parts of the country, credit unions face a landmine
The banking world appears convinced that the Coronavirus crisis has helped accelerate the digital transformation of banking.
COVID-19 presented unique challenges to senior execs who needed to react quickly to a shift to digital.
A speedy economic recovery will make most banks more than happy to take their feet off the digital transformation gas
The Paycheck Protection Program resurfaced the accounting and payments difficulties that many small businesses have and a potentially huge opportunity
Credit unions need to step up digital delivery and be driven by data.
Cornerstone Advisors’ Brad Smith talks about what smart credit unions are doing today.
Credit unions are facing rising liquidity, weak asset growth and low yields.
The “problems” with PPP applications are an opportunity for banks to provide accounting and payments services to small- and medium-size
More than three years after the American Bankers Association began its legal challenge of the NCUA’s updated field-of-membership rule, credit
As consumers steer away from branches to avoid the coronavirus, Brad Smith from Cornerstone Advisers offers thoughts on what credit
How consumers do their banking changed overnight, with an emphasis on digital transactions and engagement. It is time to move
Just slapping pink on a product package isn’t going to help meet the financial needs of women consumers.
Women tend to be less confident than men with financial decisions, despite playing prominent financial roles at home and at
It’s time for financial institutions to update their business continuity plans with lessons learned from COVID-19.
In the open banking era, fintechs will not vanish, but they will innovate and operate in a different way.
New data suggest that “marketing to women” is the wrong approach to address a complex situation. Getting it right, however,
Application programming interfaces have been around for 20 years, but you might not know it looking at most US-based banks.
Cross River has cranked out more loans under the federal Paycheck Protection Program than all but three of the country’s
Welcome is banking on trust to serve a community largely reluctant to use traditional financial institutions. But the company faces
From now on, how CUs conduct business will be different, and it will be a lot more technology focused.
There are two clear benefits for Amazon from this deal: 1) Amazon adds a new source of revenue with the
Mariam Haddad had given up on getting a Paycheck Protection Program loan this spring, even though her business was suffering.
Bankers will be praying to their chosen deities for help as the industry heads down the path toward forgiveness of
Smaller banks and fintechs have emerged to service small and medium businesses with streamlined loan processes, technology, and new onboarding
Square is a bigger threat to banks than Big Tech firms like Amazon and Google are.
The global pandemic has done more than just change consumer behavior; it has accelerated the demand for flexibility, choice, and
SMBs are finding larger banks busy servicing larger clients rather than their applications for government aid.
“I’m shocked that every community bank in the country isn’t doing what Citizens Bank of Edmond and Vista Bank are
Why working with financial tech firms is frustrating—and why doing so still makes sense
Partners FCU models a new approach to digital development as credit unions fall behind banks in member experience survey.
What should financial services providers do to improve the delivery of services to women?
As Citigroup Inc.’s Asia chief started his January Covid-19 briefing for the bank’s top executives, it quickly became apparent: The
In his regular Fintech Snark Tank column Ron Shevlin gives his perspective on what the new normal might look like
Fallout from the coronavirus outbreak has led several banks to rethink or rework deals announced before the pandemic hit.
The prospects for fintech startups has never been better—especially for those looking for banks as customers.
Key discoveries from a recent survey of bank and credit union executives
To meet home banking demands, CUs should launch new digital solutions using their existing core as a base.
For every data point that proves one point of view, there are two that refute it.
Banks don’t want open banking. They want better data.
The coronavirus pandemic has so devastated the economy that there has been little time for hand-wringing in the banking industry
In the wake of the COVID-19 pandemic, financial institutions can quickly realize savings by renegotiating major vendor contracts.
Businesses that got PPP loans are counting on their financial institutions for guidance on how to qualify for forgiveness of
Significant pitfalls come along with the anticipated opportunities.
Banks and credit unions report the pandemic’s impact on customer behavior.
Industry experts say that banks with robust technology strategies are well ahead of the competition in the age of the
Google’s value proposition to banks is simple: “We help you monetize your customer relationships.”
Ron Shevlin finds confusing rules and a lack of clarity in the Paycheck Protection Program.
The steep decline in oil prices is likely to have a widespread impact on credit unions.
A COVID-19-created shift in spending away from higher-interchange transactions toward lower ones has had a hard-hitting impact on the industry.
Community banks are looking at a big opportunity with small businesses—if they can overcome the loan forgiveness nightmare.
Credit unions scramble to cope with the coronavirus pandemic.
Credit unions were striving to provide the digital experience members crave even before the pandemic hit.
Cornerstone Advisors today launched a new offering designed to help mid-size banks and credit unions revitalize their sales and marketing
Is there any way to determine how much small businesses need?
Experts say a “misinformation campaign has created false perceptions about cash” during these COVID-19 days.
“Consumers are attracted to the easy user experience…and are willing to overcome misgivings about how technology companies use their data.”
The 2008 financial crisis may have just been a dry run for the economic shake-up that occurs as a result
The typical bank customer, even those using a fintech service provided by their bank, may not even be aware of the term “fintech.”
Compliance plays an important role in a financial institution’s relationship with its customers. Bankers need to do it right.
Brett King looks at the record of major innovations in banking over the last 20-30 years.
In this 60-minute webinar, Jim Marous, Brett King, Ron Shevlin & JP Nicols debate the future of banking post the
On-demand pay is a winner emerging from the crisis
Financial institutions that are not ready to fully serve members digitally face an existential threat.
Two expert ideas to facilitate your efforts
Time-tested best practices can help financial institutions stay agile in the face of COVID-19.
Banking could be a mixture of old and new practices.
In response to societal shifts, credit card companies are altering their rewards programs to fit new consumer spending behaviors.
The idea of using overdraft protection plans to help consumers and the economy ward off the worst of the financial
Launched with Jet Blue, the bank is betting MarcusPay resonates with consumers.
The coronavirus could shunt growth for a key credit union lending product.
If this announcement had come two months earlier it would’ve been heralded as a great idea. Coming in the middle
As the old “why our stuff is best” sales-pitch falls on deaf ears for digital-first buyers, bank, credit union and
A projection for the impact of the pandemic on interchange to financial institutions based on three different economic scenarios.
Microsoft and data aggregator Plaid announced a partnership to offer a service they’re calling Money in Excel.
To become business members’ lender of choice, deliver the wider range of the financial services they need to power their
Members are interested in voice-controlled mobile banking—it’s time for credit unions to start planning.
Mobile banking is hot. So hot that there is a scramble among users to pick the best options.
In the end, the judge of mobile banking apps who counts the most is the credit union member.
With the passage of the CARES Act, the U.S. government will sprinkle $2 trillion of pixie dust over the economy
Tips to help banks and credit unions manage the strain of the coronavirus on their payments businesses
The Cornerstone Performance Report for Banks 2019 found that despite mid-size banks making strides in many key areas, their goal of seriously
With people everywhere required to avoid nonessential contact, digital account opening is really the only choice. Suggestions and resources to
Cornerstone Performance Report for Banks 2019 finds that despite a “relentless focus” on deposit growth among mid-size banks in 2019,
In his regular Monday Forbes column, Ron Shevlin compiled a list of fintech companies that are extending free, discounted or
Ron Shevlin a senior contributor for Forbes, started a list of Fintech firms providing free technology during the Coronavirus Crisis. This had
Financial institutions that are not ready to fully serve customers digitally face an existential threat.
Banks and credit unions that aren’t able to market, sell and serve their customers in an entirely mobile capacity are
Learn the critical factors for successfully evaluating and selecting a CLOS.
Financial institutions need to talk about the impact of the Coronavirus – when they finally come up for air.
Content from around the web industry leaders can put to use responding to the pandemic and its aftermath.
A year ago today, Apple announced its first ever credit card — the Apple Card. The tech world responded breathlessly, as
The Federal Reserve’s decision to slash interest rates is likely to create headaches for credit unions.
With an economic downturn almost a certainty, credit unions need to move forward cautiously with member business lending.
Banks need to recast their strategy and budgets in response to the crisis.
How financial institutions can make a long-term positive impact on the U.S. small business market
To help banks help their customers through these trying times, many fintech providers are extending free, discounted, or accelerated deployment
In the midst of Coronavirus uncertainty, we must be mindful of what we can control and how we want our
The NCUA approved only 142 CU mergers in 2019, down substantially from previous years.
With city after city moving to ‘shelter-in-place’ status, bank and credit union contact centers, a vital line of communication with
Shevlin was an early guest on the CU2.0 Podcast and he’s back in this wide ranging conversation about credit unions,
As the COVID-19 pandemic shuts down the world’s economy, the financial consequences for consumers becomes more serious.
FSIs need to step up and become ‘personal Yoda’ to build loyalty and trust during COVID-19 outbreak
Cornerstone Advisors asked US consumers to rate their primary financial institution on a series of attributes.
Thoughts on the latest fintech developments, especially those that will have a strong impact on banking and the payments industry.
Roughly 3.1 million Americans, or 2.2% of all US adults with a credit card, have the Apple Card already. Who
Ron Shevlin, an industry analyst, shared an article on the five hottest technologies in banking.
The pressure for credit unions to shore up funding has eased – but just barely and probably only temporarily.
It has been just under six months since the Apple card was introduced. So how many people have signed up?
Are financial institutions prepared to meet unprecedented consumer expectations brought on by the Coronavirus pandemic?
Growing deposits, improving the customer and member experiences, and cutting costs around efficiency were top of mind for the 300
Roughly 3.1 million Americans—2.2% of all US adults with a credit card—have the Apple Card already. Who they are may
It’s questionable whether features and breaks on fees will inspire customers to shift their primary banking to a challenger, rather
Addressing common loan and deposit operations process inefficiencies can help financial institutions deliver optimized value to customers and stockholders.
Daryl Jones, senior Director of Cornerstone Advisors, spoke to the ACUMA conference on “Successful Strategies in Mortgage Technology Selection.”
Future-ready CIOs should brush up on these four technology topics.
Industry experts share recommendations for growing member business lending and loyalty.
LendingClub’s agreement to acquire Radius Bancorp will likely invite intense regulatory scrutiny that could set ground rules for future deals involving fintechs
Short-term focus can’t be avoided in a fast-moving world, yet the disruptive forces unleashed by technology and consumer behavior changes
Goldman Sachs Group Inc. is pushing further into retail banking territory, and experts say the company’s strong brand, online reach
Thanks to technology, all of us have become accustomed to getting everyday tasks done at a much faster rate. However,
Account aggregation promised a consolidated view of our financial lives, but it provides no insights, guidance, or direction. The financial
Banks and credit unions can wave goodbye to ‘bank-in-a-box’ solutions.
Execs are complementing their technical expertise with leadership competencies.
Agora selected Atlanta based on talent pool and a strong network of local fintech firms.
Intuit plans to buy personal finance platform Credit Karma for $7.1 billion, the companies announced this week.
Today even a strong contender can be overtaken by a competitor intent on out-innovating the pack.
Early CU adopters of voice banking with smart speakers aren’t concerned about the low numbers of users.
Far and away the best case for selling is so that Credit Karma shareholders can cash out. This could be
In order to remain stable and sustain growth, financial institutions must equip themselves with ecosystems that will support changes we
This acquisition makes a lot of sense for both parties for reasons that go beyond what many observers have reported
We analysed over 5 million fintech related posts from Feb. 1, 2019, to Jan. 31, 2020, and identified the top
The industry’s next source of loans may rely on social media and forego human interactions.
As the banking industry faces tighter margins and increasing competition for customers, many financial executives find themselves looking to cost
LendingClub’s headline-grabbing deal for Radius Bank will likely have more fintechs scouting for other banks to buy.
Fintechs can provide better design capabilities, improved customer experience, research states.
“Compared to banks, credit unions are way in the lead in terms of deploying emerging technologies.”
A select group of agile, mobile-focused banking providers has grown successful and strong enough to rattle traditional institutions that don’t
Credit unions, unencumbered by a mandate to maximize profits, have generally been conservative in their approach to business.
Building partnerships with fintechs in 2020 is an even bigger priority for credit unions than banks, according to new research
With its success in savings accounts and credit cards, Goldman seems well on its way towards becoming a leading digital
Credit unions, unencumbered by a mandate to maximize profits, have generally been conservative in their approach to business.
In What’s Going On In Banking 2020: Outlook for a New Decade, 65 percent of banks and 76 percent of credit
FEATURING: Ron Shevlin, Director of Research at Cornerstone Advisors
The future of payments is as clear as disappearing ink.
While there are more platform-based work opportunities than ever, most traditional financial institutions haven’t kept up with their special needs.
Improving the experience of an extinct (or soon-to-be extinct) product is like installing an escalator on a horse buggy. It
The rising importance of consumer financial services for mid-size institutions is driving FIs’ changed outlook on fintech partnerships.
Banks and credit unions nationwide are feeling pressured to woo customers through a more convenient channel: mobile banking.
When London-based Revolut opens its virtual doors in America this year, it will be the latest European digital bank to
Firms across industries have to transform themselves in the digital age, but they don’t always do it well.
The company’s prepaid card program has some financial industry players asking tough questions.
The “hot” technologies are the ones that financial institutions invest in—which are not always the ones the pundits talk about.
European mobile bank startup N26 has attracted 250,000 users in the US since it launched last summer, and now the
While the adoption of fintech services has skyrocketed globally, adoption rates in Canada and the US are some of the
The Financial Data Exchange, an nonprofit industry consortium dedicated to unifying the financial industry around a common standard for secure
For those of you who don’t follow Ron Shevlin in Forbes, the self-proclaimed “Fintech Snark,” he’s a good read. Today’s
With the oldest Millennials approaching 40 years old, banks are already looking ahead to the next generation of banking customers.
Deficiencies in financial institutions’ mobile-capture offerings include error identification and tracking, unclear notices of funds availability, and overly restrictive risk-control
Whether in the form of grocery delivery, ride-hailing or meal delivery — your credit card wants to reward you for
Cornerstone Advisors released the 2020 Mobile Deposit Benchmark Report which ranked the top 20 US-based banks on their mobile deposit user experience.
Cornerstone Advisors announced today the formation of PeerMetrix®, a new company providing Performance Vault, a cloud-based platform designed to give financial institutions
Not all credit unions that qualify for an extended exam cycle from the National Credit Union Administration are getting it.
“The biggest question is whether the relationships Plaid had with those tech companies will translate into capability and relationships for
As the speed of technological change increases, IT must become a trusted adviser to internal departments.
Nothing gets venture capitalists to congratulate themselves on how smart they are like a startup that gets acquired for an
CU-vendor partnerships should benefit both parties, and CUs must select vendors that prioritize client support.
It’s a tradition unlike any other. No, we’re not talking about The Masters golf tournament. We’re talking about the highly-anticipated
Five best practices for meeting expectations throughout members’ electronic interactions with your credit union
Average Americans are sticking with their primary checking account provider for years and paying their bank or credit union a
Plaid turns $310m in venture funding into a tidy $5bn profit for backers of 2013 fintech start-up
In a 2019 survey of US consumers. Cornerstone Advisors found that 44% of Millennials considered one of three megabanks their
For the first time, banks scored higher than credit unions in the American Customer Satisfaction Index (ACSI).
Americans desperately need help saving money, and fintechs are stepping up with intuitive apps that make saving simple and automatic.
No matter how a bank board’s strategic planning role unfolds, the purpose of director involvement is well defined from a
For the first time in its history, University of Michigan’s American Consumer Satisfaction Index found credit unions finished behind banks in
Five best practices for meeting expectations throughout members’ electronic interactions with your credit union
7. Ron Shevlin shared an article written by him about Uber’s new division named Uber Money, which includes features such
In the world of business, our longstanding adherence to GAAP (Grievously Archaic Accounting Principles) is giving way to SAAP (Startup
Financial institutions that see fintech partnership as a way of outsourcing digital innovation sadly cheat themselves and their partners.
The bank insists it’s a security, not a competitive, issue because many consumers do not realize the potential risks that
If Zelle banks do shut down access to Plaid in order to subvert Venmo, they may win the P2P battle,
Here’s a quick run through a buffet of bite-size nuggets and other items from the reporter’s notebook.
Observations from the Fintech Snark Tank
Fintech executives and bankers attending SourceMedia’s recent In|Vest West conference in San Francisco agreed: The competitive threat posed by fintechs
A new survey finds financial institutions and fintechs are “reasonably satisfied” with their overall relationships with each other, but there
The underlying question surrounding the bubble babble is whether the industry should be optimistic about fintech startup prospects.
Cornerstone Advisors Managing Director Ryan Rackley shares findings from a recent white paper, including the problem with auto-renewing.
Having a solid base of core deposits is the cornerstone for most credit unions’ operations. But gathering this funding is
Branches don’t pay off like they used to for building deposits and loans, so why keep sinking more money into
I’m putting a stake in the ground that these five debates will shape the 2020s and dictate how the other
For all its status as home to world-leading tech companies, the United States is behind the curve in digital banking.
Customers today no longer base their loyalty on price or product. Instead, how they feel after interacting with customer service
Having a solid base of core deposits is the cornerstone for most credit unions’ operations. But gathering this funding is
Response to Google’s recent “announcement” that it was launching a checking account was swift–and varied. Are the analyses correct? How
As cash back rewards become expected offerings among banks, Stash is offering customers fractional shares of stocks as purchase rewards
All of a sudden, Big Tech is rushing into financial services. Should financial tech startups, or “fintechs,” fear the encroachment
Must your institution become a Google partner or become toast? And if you don’t join, will Google crush you in
Bank of Montreal is rolling out a new feature that allows customers to pay bills without having to log into
A new partnership between Google and Stanford Federal Credit Union could spur the industry to do some soul searching on
Does a newly launched challenger bank have what it takes to succeed?
Code-named Cache, the project is seen as an extension of Google Pay but persuading people to hand over their data
Is it just me, or is Big Tech’s promised reinvention of traditional banking moving with the speed of my 1994
CU Times speaks with Stanford FCU’s CEO to discuss the thought process behind the decision to directly partner with Google.
A series of perceived missteps over its flagship Apple Card has introduced the first big test of whether the investment
Todd Harper is following through on his desire to better align regulatory oversight of credit unions with that of banks.
Member business lending at credit unions remains strong, but with growth fluctuating and a potential economic downturn around the corner,
Attempts to create tech-focused alternatives to traditional banking have struggled to be more than a niche product.
A payments expert wants CU executives to understand that “payments is likely the most common touchpoint they have with their
Cornerstone Advisors Senior Director Sam Kilmer and President/Partner Steve Williams joined the show to share findings from their latest survey/report:
More community banks are adding deposit products and fee-generating services targeted at small businesses.
They’re an economical route to expansion, but banks are proceeding with caution.
We can do better than just coffee shops and hang out spots for Millennial gig economy workers.
Lending institutions should welcome the opportunity to build relationships with these highly valuable customers.
No longer the stuff of science fiction, AI and machine learning technology are now in use at community banks of
Traditional banks and credit unions are having a difficult time keeping up with the level of experience expected by today’s
AI applications should be a top priority for all financial institutions, but so should assessing the impact of platforms on
Personal finance, banking and investment platform MoneyLion is moving its monthly subscription fee to a rate similar to Netflix and
Purposeful channel managers evaluate and enhance members’ experience and their credit unions’ ROI.
Two big consulting firms recently published advice on what banks need to do in an economic downturn. With two exceptions,
Partnering with an established online student loan provider can offer many of the same benefits as an acquisition.
Recent research being conducted by organizational behavior professors at Stanford and Harvard points to a harsh truth about fintech partnerships.
The idea that fintech startups are more ethical than legacy banks is misguided.
Consumers and credit union members want something of real value and they’re willing to pay for it.
A new venture from Capital One and Walmart could pose a threat to credit unions, but analysts are split on
Today’s senior management must be tech savvy and assume responsibility for leading the way with new services.
The fad might be over, but the imperative for banks to partner with fintechs is anything but.
Bank executives who think collaborating with partners is the best strategy to achieve digital transformation are going to be disappointed.
A shift to paying for rides could cut into a car-buying market that is already in decline, and declining sales
If banks are failing at digital account opening, it’s not for lack of trying.
Low rates, increased competition and a need to court younger clients are forcing small banks to rethink their approach to
Primary bank status in this stage of the digital age means something different than it did a decade ago—with consumers,
The road to differentiation among fintech startups entered a new phase this week: patenting technology to put a brand’s stamp
Vetting, open platforms and influence in the strategic road map boost credit unions’ efforts to work with financial technology companies.
There’s a new fashion trend going on out there, but it might be one that’s hard to see–it’s people accessorizing
A growing number of credit unions are realizing they can boost employee morale by offering concierge perks to staff.
Ron Shevlin, Managing Director of Fintech Research at Cornerstone Advisors, thinks Apple won’t be a full-stack bank.
Established banks are finally waking up to the opportunity to bank the gig economy. No wait, that’s not true. They’re
While US neobank Chime recently surpassed the milestone of having issued 5 million FDIC-insured bank accounts, these numbers may be
What once was a machine that just dispensed cash now can perform most of the functions of a bank teller.
Credit unions are mostly outgunned when it comes to technology but some in the industry are getting creative to keep
News of crossing the five million account mark–along with statements from Chime’s CEO–deserve some scrutiny
Looking to hire someone with “analyst” in their job title? Get ready to pay.
As the speed of technological change increases, IT must become a trusted adviser to internal departments.
Banks no more need an AI-first strategy in 2019 than they needed a COBOL-first strategy back in 1959.
The excitement around Apple Card has drawn the light to innovative physical card design.
Consultants bring specialized skill sets that can be valuable in areas where bank leaders don’t have experience, such as negotiating
How credit unions can maintain a role in the payments ecosystem amidst friends, frenemies and enemies.
Though most have recovered, credit unions still in the mortgage game won’t soon forget hard lessons learned during the housing
Cards that offer college savings benefits can be an easy, convenient way to supplement your fund, but don’t rely solely
Mortgage refinancing activity is back from the dead thanks to declining interest rates. This is good news for banks and
The final straight of 2019 is upon us and most would agree it has been a transformative year for the
It’s never been more important for credit unions to be able to sell digitally, says one analyst, who points out
Some banks and credit unions are going above and beyond to reward new deposit account holders.
That Uber has aspirations to get into financial services should come as no surprise. After all, everyone and their mother
In a few short years credit unions have gone from distrusting financial technology companies to looking for opportunities to partner
RBC CEO Dave McKay said the bank will continue to invest in new digital products like MyAdvisor, NOMI and Ampli.
Community banks are facing tremendous competitive pressures from regional, national, and global banks
The checking account is no longer what it once was, asserts one analyst, who says they’re quickly morphing into “paycheck
After making claims about fintech and Big Tech firms eating banks’ lunch, the Financial Times basically disproves its own assertion
As the credit and debit card markets have grown more competitive, many card distributors – from traditional banks to fintechs
Despite their public approval of the Fed’s decision to build a RTP system, community banks and credit unions must know,
The first product of a joint venture between one of planet’s most iconic brands and Wall Street giant Goldman Sachs
Credit unions believe they will be able to compete because of their focus on member service and the collaborative nature
As credit unions look to improve their technology on smaller budgets, one solution is to band together and pool assets.
To fight back the newfound competition, Green Dot is building its own digital-only banking brand with a look and feel
The Federal Reserve announced it’s building a real-time payment system that would let users instantly move money between bank accounts.
Despite grandiose claims to bank the unbanked, Walmart’s application for a cryptocurrency patent is mostly about one thing: Eliminating interchange.
Calls for more regulations–in particular, federal ones–ignore two realities.
Sixteen deals, with a total value of more than $2.4 billion, have been announced since mid-July, marking the busiest two-week
Let me save you some time. The one reason fintech startups fail: They don’t make enough money.
The company is focusing its efforts to generate revenue from Venmo by taking use cases beyond casually paying friends for
The US may be a more developed market for almost all areas of startups and tech, but not fintech.
While sending funds through Venmo is so common it’s a verb, bank-backed peer-to-peer payments tool Zelle is quickly picking up
Umpqua’s Go-To mobile digital platform lets customers text their personal bankers.
Fintech challengers are partnering with technology infrastructure partners, accelerating online commerce and the cashless economy faster than traditional banks.
These accounts can squeeze an institution’s net interest margin, so CUs offering them need the proper analytics to ensure they
Bank and credit union marketing executives can improve their department’s standing (and their own) by better managing departmental time, working
Many experts say institutions on both sides of the transaction – those merging and being acquired – should be discussing
If bank and credit union branches increasingly shift to an advisory role, can they deliver on that vision?
Three trends in banking will make a race to the cloud inevitable for banks.
Low interest rates can be good for housing and borrowing but terrible when it comes to preserving capital and growing
The company is building a marketplace designed to help banks, fintechs, telecommunications firms, retailers, ride-sharing services, grocery stores and many
Consumers who send money to family and friends are converting to digital peer-to-peer payments in droves, if Bank of America’s
A new report by banking and technology consulting firm Cornerstone Advisors sheds light on what influences Marketing’s role in a
Adapting to Millennials may mean waiving more fees, but it’s cheaper than recruiting fresh accounts over and over again.
People are increasingly receptive to obtaining financial services from digital-only providers, including the big-tech firms.
Everybody has different priorities and needs and desires that they are trying to meet. The reality is that no one
While not every institution will be impacted equally, collectively the trends point to where banking is headed.
While the term “platform” is widely used as a technology construct, there is another use of the word–as a business
When a seemingly sweet deal turns sour, it’s time to prepare an exit strategy. Here’s how to preserve essential business
Vernon Hill is back in New York, but there are big doubts about how he will fare this time around.
Fears of an Amazon “invasion” in financial services have reached a fever pitch. One Financial Brand article reported that banks
The flagship space will also serve as a gathering place for after-hours community events and discussions called “Chase Chats.”
The need for additional features, value or connectivity may drive credit union core system evaluations.
With the Federal Accounting Standards Board signaling last month that it may delay small institutions’ implementation date for a controversial
The biggest opportunity in the world of banking–right now at least–is in changing the economics of the banks’ cost structure,
Most financial institutions need to determine whether they should invest more heavily in branch delivery, digital delivery, or both. Making
Using a service model patterned after Amazon Prime or Netflix may seem odd to many retail bankers, but challenger banks
Incumbents partnering with and investing in fintechs is nothing new in the finance industry, and now two banking giants are
With traditional banking providers struggling to deliver a competitive digital solution, the entire industry must be wary of research overestimating
Three Finovate takeaways, made consumable in half the time it would take to see even one demo session.
An optimization review can improve core utilization.
As peer-to-peer lending grows in popularity and consumers increasingly have access to lenders outside of their local communities, what can
Some users of the Cash App, which is owned by payments company Square, can now deposit bitcoin, according to reports.
Most banks approach personalization solely through the lens of digital experience. To CARD.com, however, personalization actually refers to the look
Users could previously buy, sell and transfer bitcoin through the app, which is available on both Android and iOS, but
A proposed rule from the National Credit Union Administration could help credit unions address looming liquidity problems.
Two state credit union league mergers this year could be a sign of things to come.
In the battle for customer loyalty with digital-first competitors, Rockland Trust has deployed an AI tool to boost its customer
The proposed new name for the BB&T and SunTrust combination is turning out to be more of a piñata than
The only people who want to see more banks in the US are banking industry pundits eager to prove that
A new report shows that Square’s Cash App downloads increased by 2.2 million last month, while Venmo’s were up 1.7
A Great podcast from the team at Breaking Banks – a show that explores the FinTech evolution and the disruption
The peer-to-peer payments race is now more than a duel between bank-backed Zelle and Paypal-owned Venmo.
Having a slick digital account opening system doesn’t mean you can check ‘digital sales’ off your to-do list.
Research from A.T. Kearney projects that 1 in 10 banks will disappear in the next five years across Europe, as
If I had a nickel for every bank exec that told me their institution pursues a “fast-follower” strategy when it
It’s unclear whether a drop in credit union merger approvals in the first quarter means consolidation in the industry is
More information is needed to see if the mobile app can handle more complex needs and nudge customer satisfaction noticeably
The digital banking space faces many structural challenges, as there are very few profitable success stories in the space.
Experts explain why Florida is a hotbed for credit union bank acquisitions and why more bank deals are on the
Was there a lack of internal support or are banks using digital-only offerings as a testing ground?
With all the talk about customer experience, banks need to make sure their product users are having a good time
JPMorgan Chase‘s millennial-friendly digital banking app Finn is shutting down, just one year after it rolled out nationally.
News broke yesterday that JP Morgan Chase, the $350bn US banking goliath, has pulled the plug on its attempt to
According to estimates from Cornerstone Advisors, Finn managed to sign up just 47,000 customers since its inception.
The rise of fintechs blurs the boundaries among buying, building or partnering for new solutions.
A recent survey asked financial services executives about their organizations’ most important strategic priorities. The second most-frequently mentioned priority was
Trailing the big three core technology providers, U.K. fintech Finastra is launching several initiatives in an effort to win more
In taking a quick glance at the winners of the coveted Best of Show awards at this year’s FinovateSpring in
BankMobile has the most customers of any mobile-only bank, according to Cornerstone Advisors. The bank reports 1.064 million active accounts,
A number of articles have run in recent months questioning whether corporate enthusiasm for NPS has exceeded its actual utility.
BankMobile has the most customers of any mobile-only bank, according to Cornerstone Advisors. The bank reports 1.064 million active accounts,
A new survey suggests that digital banks are not getting much traction yet but there is more to the story
With hefty injections of cash and ballooning customer numbers, challenger banks are gunning for a greater share of incumbent banks’
It’s about time that someone has realized that the Net Promoter Score (NPS) is nothing more than management snake oil!
But a year later, Starbucks has lost its lead in terms of mobile app adoption. The new leader? Walmart.
The great “disruption” of banks promised by the neobanks has not come to fruition. But that doesn’t mean there isn’t
This emerging trend is expected to continue because of dynamic consumer expectations.
Nation’s biggest bank sets off a Twitter explosion, suggesting people make their own coffee to save money. What can other
A leading theory for why more bank customers aren’t moving to other institutions is being challenged by one analyst.
According to the Wall Street Journal, this spring Apple and Goldman Sachs will start issuing a joint credit card paired
When JPMorgan Chase found itself in hot water over a snarky tweet about savings that went viral, Dan Moran saw
KeyBank is relocating its Pearl Street branch to provide holistic banking services to clients.
The switching rate is down because money movement is so easy, not because large banks have made banking convenient.
Bank investors have been very skeptical of deals with big premiums and long earn-back periods, increasing the need for acquirers
The next big thing in wave-and-pay is here, and credit union adoption is surging as major issuers deploy the NFC
Going out for dinner with friends can get pretty complicated for Martin Juvå. He lives in Brooklyn right now, but
Digital-first population expected to increase adoption rates and flatten costs
Talking with MX Research for an article recently published in the Credit Union Times, Ron Shevlin, Head of Research for
Mergers of equals are gaining in popularity, judging by the flurry of recently announced deals, but a number of tough
T-Mobile on Thursday introduced a mobile checking account that offers an interest rate thousands of times higher than the national
Many people treat tax returns almost like a bonus: as “extra” money. But a tax return isn’t an unexpected good
Goldman isn’t “shedding its trademark secrecy” and it couldn’t care less about the loyalty of computer-driven quant traders.
Education loans hold the key to lasting membership and greater engagement for credit unions and other community lenders.
Should everyone else pack it up now that the best and brightest from Wall Street and Silicon Valley have teamed
Ron Shevlin’s recent article, “5 Cybersecurity Myths Banks Should Stop Believing,” raises a distinct question: can businesses use their cybersecurity
For one thing, it may be the fastest way to expand into new business lines that are more closely associated
Financial institutions are investing huge sums on cybersecurity and to attain success, they need to stop believing in these myths.
How can a credit union stay relevant as things change with checking, cards and digital—and among generations?
Achieving cybersecurity success requires management and measurement—not just education.
Plastic cards and mobile wallets may get the spotlight, but cash is still the most frequently used payment instrument.
Two moves in the first quarter of this year have positioned Jacksonville, Fla.-based VyStar Credit Union for significant expansion, and
If Twitter is testimony to our emotional state, a bank’s website and app suddenly going down is irksome at best
Options to swipe, dip or tap to pay may tip steadily toward contactless with advanced security features.
Processors do the back-end lift while credit unions focus on meeting a growing demand.
The megabanks are bigger – so of course they spend more on technology than smaller financial institutions.
Apple CEO Tim Cook introduced the card by calling it the most “significant change in the credit card experience in
Spokane Federal Credit Union is in the process of building a branch that will share space with Revel 77, a
Apple announced today a new credit card built right into Apple Wallet, drawing excitement from some and skepticism from others.
If you want to know which technologies are hot in banking, you should “follow the money.”
A new checking account JPMorgan Chase has launched aimed at low-income consumers will most likely be embraced by a different
There’s consensus about what omnichannel means in banking, but not everyone thinks it’s important. And even it’s proponents don’t agree
Chase’s new offering may not do much to reduce the number of unbanked households in the US, but it still
Technology has made it easy to move money, rendering geography meaningless.
Credit unions have returned more than $175-million to members in the form of 2018 year-end bonuses and rebates, but CUs
Talent development can help you and your team members prepare for whatever lies ahead.
The reality of payment behavior today will limit Stash’s ability to become the “top-of-wallet” card.
The big banks have been taking some grief recently for closing branches in low-income neighborhoods.
This year, we forecast that 55.4 million millennials ages 23 to 38 will use digital banking. But, they’re not all
Apple and Goldman Sachs have teamed up to offer a credit card in a deal that may foretell future pairings
While mobile banking startups might be perceived as a threat to larger banks, they still have yet to show they
JPM Chase is preparing to launch an option for cardholders to pay in installments for purchases over $500 and run
With all the hype around Zelle, should every credit union be jumping on board the rapidly growing P2P solution?
Chase’s move into POS financing is driven by factors that many financial institutions appear to be overlooking.
The good news about rising auto delinquencies – if there is any – is that it doesn’t appear to be
If your credit union is looking to improve its leadership development programs or create an organization-wide succession plan, one place
In the current rate environment, mergers may take on more prominence as opportunities to address liquidity and revenue production challenges.
Consumers expect the constant availability of services through their computers, mobile devices and smart home technology. So it makes sense
Most contact centers in the financial industry don’t realize their full potential. Here’s how banking providers can put their contact
One analyst said it’s time to hit the brakes on some of the conclusions being drawn following the release of
Consumers have many places to put their money, and can move it quickly out of traditional transaction accounts. This makes
Days after SunTrust made its stunning announcement that it was merging with North Carolina-based BB&T and would move the combined
In trying to create an entirely digital experience, many banks have trouble pinpointing the moments that so frustrate customers they
Consumers are expressing an ever-increasing interest in making digital Person-to-Person payments to friends, families and even businesses for bills, shared
Banks and credit unions have wildly different strategies with respect to both loan and deposit growth in the year ahead.
The Big Tech threat is overstated, and the trust and Net Promoter Score (NPS) numbers are useless.
The crypto world lit up on Valentine’s Day on the news that JPMorgan Chase is launching JPM Coin, the first
Improved cost of funding control is an achievable goal for CUs with the help of student lending products.
Banks can either continue to see technology-driven disruptors as a threat, or take the high ground and create opportunities out
When it comes to talking to fintech, the conversation can go in myriad directions, which can be a little scary.
A new analysis shows that during Q4 2018 Zelle processed $35 billion in P2P payments versus $19 billion for Venmo,
Being able to make boat loans is partly limited by a CU’s geography and willingness to gain the expertise to
Zelle processed $122 billion in P2P payments in 2018, almost double Venmo’s $62 billion. So Zelle is winning the P2P
When Neobanks like Simple and Moven first appeared on the scene, they were heralded as “disruptors” with the potential to
Cornerstone Advisors’ Ron Shevlin’s report on “What’s Going On in Banking 2019. Is the Party Over?” is out and he’s
Credit unions may hit a few bumps with their recreational loan portfolios this year.
An onslaught of so-called “challenger banks” continues to disrupt the competitive landscape in the financial services sector.
Many credit unions are facing an IT budget crisis as the result of being caught “in the middle of a
Artificial intelligence and open platforms are priorities for the new year.
The cause of financial problems isn’t poor financial literacy–it’s poor financial behavior. But bad behavior is really just a symptom.
EnerBank USA has built its business over the last 15 years by financing home improvement projects nationwide over the phone.
Credit unions can’t rely on standard boilerplate in vendor contracts.
CU experts believe growing deposits in 2019 will be difficult. “The level of competition on deposit rates and lack of
A cyber-aware culture makes all employees accountable for cyber safety and soundness.
Finding a free checking account with no conditions is getting harder.
What can credit unions do to fight back against ATM skimming and shimming?
Will BBVA’s open banking platform change the way bank products are created and marketed in the US?
As more banks take the often risky step of expanding outside their traditional markets, especially through digital means, some fintechs
Credit unions must learn to provide operations funding and expert advice if they want to become strategic business lenders.
According to Cornerstone Advisors’ “What’s Going on in Banking 2019” report, optimism among credit union leaders has taken a nose
The new biggest lie isn’t something we say–it’s what banks say to us: “We offer free checking.”
During the week I share the latest marketplace lending and fintech news on Twitter as it happens. Then every Saturday
Coming into the new year, CEOs at mid-size banks and credit unions are less optimistic about the year ahead, according
Schools Financial Credit Union in Sacramento, Calif., will merge into SchoolsFirst Federal Credit Union in Santa Ana, Calif. The combined
Six small credit unions from across the US have recently signed with Corelation, a California-based core processing software provider, for
Small bank and credit union leaders express similar worries.
Less than half of CU senior execs have an optimistic outlook for 2019, according to a new Cornerstone Advisors report
Cornerstone Advisors Partner Erik Weikart shares the top financial services trends in the “2018 Credit Union Performance Report.”
Chief executive officers at mid-size banks and credit unions are decreasingly optimistic about the year ahead, according to What’s Going
An Amazon as a service provider for banks’ technology and marketing needs is a real possibility.
Robotic process automation is saving large banks a small fortune while also reducing the time it takes to service its
As I write this, there are 2,530 different types of cryptocurrency with a market valuation of about $123 billion (half
Cornerstone Advisors Director of Research Ron Shevlin visited us on the show to share highlights of his latest and highly
Claims regarding the impact of artificial intelligence (AI) on banking are getting out of control.
Mid-size and smaller bank and credit unions face strong competition from the big banks in digital development because they can’t
As usual, the 2018 GonzoBanker Awards is a stellar collection of both credit union and banking accolades: some fun, some
The prolonged partial government shutdown hits especially close to home for Cabrillo Credit Union in San Diego.
Of the dizzying number of technology options for bankers to consider, robotic process automation should be simpler than, say, artificial
Here are four of the year’s biggest stories about the mobile user experience for credit unions, plus a few predictions
Affirm is making good on its commitment to become a full-service bank.
Since 2012, the online lender Affirm has sought to chip away at credit cards’ dominance in consumer lending by offering
Not too long ago the prevailing mindset among banking industry pundits was that fintech startups would disrupt and displace incumbent
Fintech lending is on the rise but under the microscope, too. A report from the U.S. Government Accountability Office released
Pentagon Federal Credit Union, the nation’s third-largest credit union, kicked off 2019 with a unique expansion move — a merger
Pentagon Federal Credit Union, the nation’s third-largest CU, kicked off 2019 with a unique expansion move – a merger with
A new study by software provider VisibleThread found that 58% of nearly 5,000 pages of website content for 50 U.S.
The Robinhood checking account with a high-end 3% interest rate on account balances that a lot of people were tricked
Technology investments are both soaring and falling as digital transformation grips enterprises of all types and sizes.
Ron Shevlin, director of research at Cornerstone Advisors, was named to The Fintech Power 50 at Fintech Week London last
What’s Going On In Banking 2021 reveals that while nearly half of mid-size bank and credit union executives are more
Cornerstone Advisors hires industry veteran Steve Wildman to help meet increased demand.
Banking executives need a detailed game plan right now to change the way their institutions sell and deliver digital services.
Despite a “relentless focus” on deposit growth among mid-size banks in 2019, this goal has proven elusive for many institutions.
What’s Going On In Banking explores how senior execs from mid-size banks and credit unions are prioritizing their technology initiatives
Cornerstone Advisors announced today the formation of PeerMetrix®, a new company providing Performance Vault, a cloud-based platform designed to give
Company Exceeds Goal of $1 Million in Charitable Contributions
Outlook for 2019 Includes Challenges For Deposits, Emerging Technology, Fintech Partnerships
The PA Bankers Services Corporation (Services Corp.) adds Cornerstone Advisors to its Select Vendor program to provide contract negotiation services
Continually emerging payment technologies keep financial institutions struggling to be at the forefront of their market. Join Cornerstone’s Payments Experts for 2-full days of learning this cutting-edge environment and how to keep your FI ahead of the game.