What to read today: The UK Banking Channel Forecast: In this brand new report, Insider Intelligence forecasts the growth or decline over the next five years of five key banking channels in the UK: branches, digital platforms, smartphones, call centers, and ATMs..
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| | | | | Wells Fargo is taking action to reduce operational costs and lending risk as the coronavirus crisis wears on. | Ahead of what some analysts estimate could be the bank's first quarterly loss in over a decade, executives have drafted plans that could slash headcount.
The bank is also tightening requirements for the refinancing of certain mortgages, including making new customers who want to refinance a jumbo mortgage bring at least $1 million in balances — quadruple the previous requirement of $250,000.
These moves could help Wells Fargo weather pandemic fallout, but to meaningfully grow beyond that, it needs to shuck its federally mandated asset cap.
Business Insider Intelligence's Gregory Magana has the full story. | | | | | | | | | | | | | | | | | | | | | | | | | | | | The UK Banking Channel Forecast | | In this brand new report, Insider Intelligence forecasts the growth or decline over the next five years of five key banking channels in the UK: branches, digital platforms, smartphones, call centers, and ATMs. | | Get the full report → |
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| | | | Gig Economy Financial Services Ecosystem | | Insider Intelligence explores the size and scope of the gig worker market; gives an overview of companies that started making efforts to serve the gig worker market pre-pandemic; presents some of the earliest-moving companies rolling out pandemic-specific financial services for gig workers; and lastly, outlines how FIs who move into the space during this crisis period can make sure their products have a longer-term value for customers once the pandemic passes. | | Get the full report → |
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| | | | The Internet of Medical Things | | In this report, Business Insider Intelligence assesses the North American Internet of Medical Things (IoMT) market and explores how the IoMT opportunity for connectivity providers is evolving alongside the coronavirus pandemic, and how these players are carving out their place in the growing segment. | | Get the full report → |
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