Glean industry insights for
What's Going On
In Banking 2022
A "revenue recession" has been building in the U.S. on three fronts:
- The payments displacement effect
- The coming mortgage revenue drop
- The overdraft fee free-fall
Some banks and credit unions 'get it.' Among banks, the gap between those most concerned with costs/expenses versus non-interest income has closed over the past few years. Among credit unions, non-interest income has been cited as a concern by more execs than those citing expenses. For both types of institutions, this is a big shift from 2020.
Steve Schnall of Quontic Bank and Eric Sprink of Coastal Community Bank join Cornerstone Advisors' Ron Shevlin and Steve Williams to discuss findings in this year's comprehensive guide.
Watch the WEBCAST now
Key study highlights include:
- The ability to attract qualified talent in 2022 is the top concern for both banks and credit unions.
- While three in 10 banks and a quarter of credit unions plan to implement real-time payments in 2022, 37% of banks and 42% of credit unions haven’t determined their RTP strategy.
- Roughly one in 10 surveyed financial institutions plans to launch cryptocurrency investing/trading services in 2022. Currently, just 1% of banks and no credit unions offer the service.
- Nearly half of bank and credit union executives see fintech and big tech companies as significant competitive threats in the year ahead.
- More than half of banks and nearly two-thirds of credit unions see an improved environment for M&A deals in 2022 over 2021.