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Bank of America to Cut 16,000 Jobs by Year’s End

Bank of America to Cut 16,000 Jobs by Year’s End

By Sean Patterson September 21, 2012 | 1 Comment

Bank of America will be speeding up its cost-cutting measures and will lay off 16,000 employees by the end of the year. The Wall Street Journal has obtained a “document given to top management” of the bank and is reporting …

Financial lives of consumers becoming more digital Financial lives of consumers becoming more digital

Cha-ching! In the United States, half of all bill payments made (by households with access to the Internet) are being paid online. Nearly forty percent of mobile banking users have paid a bill using their phone and one out of …

BankSimple Makes Mysterious “Key Hire”
· 1 Comment

BankSimple, the startup that’s supposed to disrupt the banking industry, has apparently made an important hire that may or may not have a direct impact on whether that actually happens. 

Mobile Banking Trends Accentuate Mobile Growth in General

Mercatus released the results from an interesting survey about the mobile offerings of banks. According to the firm’s findings, banks that offer mobile financial services can increase their new customers acquisitions by as much as sixty percent.

Countrywide CEO Disgusted By His Customers
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There are lots of rules for being a decent person. None of them apply to banking, as we’ve seen again and again lately. But you’d think a certain level of smarts would accompany the lack of decency required to run a banking institution, and that level of smarts would include an understanding that when your house is on fire, you don’t piss on the firemen.

Talk Show Host Gets Bank Account Hacked

Hackers turn the tables on the talk show host “Top Gear” who made an outrageous claim that no one could do anything evil if their banking information was stolen.

The humor part comes in that when he checked his bank account, someone had done a 500 pound (1000 dollar) donation to diabetes UK.

Mobile Banking Set To Take Off

Over 40 million U.S. consumers will use their mobile phones for banking by 2012, up from around one million in 2007, according to TowerGroup’s "Mobile Banking Evolution: Issues and Considerations for 2008" report.

Noteworthy Videos
AdSense Blog Reveals Odd Banking Policy
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An otherwise mild write-up of how Google sends checks to AdSense publishers for their earnings has a strange twist that hints at a relationship with Citibank that defies common banking practices.

Online Banking Preferred By Younger Generation

Banking at a branch still ranks first overall among consumer’s usage, but younger customers are continuing to do their banking online, according to a survey from the American Bankers Association.

Banks Need To Blog

Less than one percent of financial institutions have a blog according to a new report from Javelin Strategy & Research.

Young Adults Favor Online Banking

Consumers born between 1982 and 2000 are accustomed to using the Internet to access financial services, according to Celent Communications "The Millennials, Financial Services and the Web" report.

Self-Service And Online Banking

Over 75 percent of U.S. and Canadian consumers polled said they were more likely to do business with organizations that offered self-service, according to a study from BuzzBack Market Research for NCR.

Online Banking Paying Off

Financial institutions of all sizes are opening virtual branches that offer higher savings yields and lower interest rates in an effort to lure more customers.

Online Banking Has Strong Growth

Online banking is growing 27 percent yearly, which is faster than other retail banking channels, according to TowerGroups’s "Delivery Channel Volumes in the United States, 2006-2010: From ‘In Line’ to Online" report.

Who’s Going to Emetrics London?

One of the biggest conferences in terms of Web Analytics, the Emetrics Summit, is quickly coming up at the end of March (this time in London). 

Pew Survey On Online Banking

In a report titled “Online Banking 2006: Surfing to the Bank,” the Pew Research Center declared that the number of Internet users who bank online is on the rise. Unfortunately, their most recent in-house data appears to be from December of 2005.

Financial Firms Banking On Podcasts

Clients of some investment firms will soon have the opportunity to download podcasts of financial research for easy listening.