We've found that it's harder than it should be to obtain a current list of the biggest banks by asset size, so we decided to put it here for easy access. No need to go digging through a database. Here it is.
^*All listings are in 1000s.
We've found that it's harder than it should be to obtain a current list of the biggest banks by asset size, so we decided to put it here.
These numbers come from the FDIC in March 2018.
The Biggest Challenge Facing Banks in 2018
When Moorad Choudhry, author of The Principles of Banking, was asked what’s the biggest challenge facing banks right now, he said that it’s “to stay engaged with the customer.”
October 2008: The global financial crisis led major banks to make acquisitions in an effort to shore up deposits and stave off systemic collapse. Wells Fargo aquired Wachovia; Bank of America acquired Merrill Lynch and Countrywide; J.P. Morgan acquired Bear Stearns and Washington Mutual. In addition, some floundering banks were sold off in pieces post-crash, creating a hodgepodge of disintegrated banking structures.
Banking in 1914
In 1914 an economist named William Scott wrote a book about banking called (quite appropriately) Banking. In his book, Scott outlined the four main services that commercial banks performed:
Financial data aggregation has existed for decades, though many financial institutions still don't use it. In one sense, this is understandable. The problems with aggregation have historically been numerous, and in certain cases those problems still occasionally surface. However, because financial data aggregation enables users to see all of their accounts in one place, it's among the single best methods an institution can use to become their users' primary financial hub. Users want to log in, see all their finances in a single view, and log out.
MX recently hosted another Fintech Festival in the beautiful mountains of Sundance, Utah. These exclusive events, which are for key players in digital banking, give financial institutions the chance to learn and collaborate with some of the best minds in the industry.
We’ve said it before and it bears repeating: Millennials like mobile banking. They’re comfortable with it, they like the convenience it provides, and they’re willing to switch banks to get the mobile experience they’re after.
Our mission at MX is to empower the world to be financially strong. To do this, we work with digital banking providers, fintech companies, and financial institutions to build products that help millions of people manage their money. While people in the industry may refer to these products as digital money management or data-driven money management, traditionally the category has been known as personal financial management (PFM).
The banking news last week potentially shifted the recent narrative on peer to peer lending.