A guide to getting AI buy-in as RIAs look to scale
Two experts discussed how they’ve gotten AI use at their firms to go from a few power users to part of the culture — and what they’ve gained because of it.
Renasant eyes trust boost from deal for Tennessee bank
Renasant CEO Kevin Chapman said the much smaller acquiree has been growing its trust business “a notch or two faster” than his own Tupelo, Mississippi-based company.
BofA adds Wisconsin to branch map, with more states to come
Bank of America announced five new locations in Wisconsin, and said it plans to expand into Alabama and Louisiana next year. All three states are new to the lender’s branch network.
Ramp, Tipalti, Ripple hit the gas on business banking
The fintechs are pouring resources into technology to provide an alternative to traditional banks and payment companies.
UMB says deal gives it access to wealth fleeing California
The Midwestern regional bank is planning to acquire a small community bank in northern California. UMB executives said the deal offers low-cost deposits and a presence in parts of Nevada where wealthy Californians are relocating to avoid higher taxes.
CFPB flunks cybersecurity audit amid staff cuts: OIG report
The Consumer Financial Protection Bureau is leaving millions of sensitive financial records vulnerable to cyber threats, the inspector general has found. It cited a massive staff reduction during the Trump administration as the root cause.
How banks can reclaim the $18 trillion SMB market
Businesses are decoupling daily payment execution from traditional banking channels
Why RIA buyers are seeking relatively young leadership — and vice versa
As RIA buyers become pickier, the age of a firm’s leaders can be a big draw still.
With major banks onboard, DTCC launches tokenized securities
The service lets investors trade stock on a blockchain, 24/7. J.P. Morgan, Bank of America, Citi and Morgan Stanley have signed all agreements to use it.
Despite missing asset goal, LPL points to silver linings in Commonwealth deal
Although acknowledging that they won’t hit their goal of retaining 90% of the assets Commonwealth Financial Network had at the time of its acquisition, LPL executives say the deal is living up to its promise in most other ways.