There is sure to be a growing consumer debt issue when the government assistance finally ends and banks are starting...
In 2011 Regions Bank started studying their customers usage of social media and how that might effect the bank’s interaction and understanding of them; they found household revenue of customers active on social media was 60 percent higher and household deposits of social media users was 76 percent higher than non social users; the bank has a social strategy that focuses on increasing loyalty, delivering customer service but most importantly driving revenue; Tearsheet interviewed Melissa Musgrove, head of social media at Regions Bank, about how they have evolved since 2011 with their approach to social media; they also discussed challenges faced inside the bank, what drives revenue and what keeps Melissa up at night. Source.
IBM laid out plans last month on new AI guidance to ensure it is done in an ethical way; according...
Low wage workers have always had a difficult set of expensive options when they try to cash their paychecks; bank accounts are costly because they cannot maintain certain balances and check cashing shops are not exactly cheap; WiseWage, a North Carolina based non profit is looking to offer another option; the company has struck partnerships with Regions Bank and Varo Money, among others, to offer a lower cost direct deposit; the prepaid cards have set fees which can be waived if enough is loaded each month; the program is meant as a test to see if they can enlist those who have dropped out of the financial system because of a lack of options. Source.