Weekly Wrap talks big bank earnings and tech developments
In this Weekly Wrap episode of "The Buzz" podcast, the Bank Automation News editors discuss earnings and insights from the latest top bank reports, including how big banks like JP Morgan, Bank of America and Wells Fargo are leveraging digital banking and automation.
The BAN team covers JP Morgan Chase's report that revealed the $3.7 trillion bank is increasing its 2022 technology spend by 20% to $14.4 billion to improve cloud capabilities, data centers, data and analytics, and digital consumer experience.
Meanwhile, Wells Fargo has seen a nearly 50% year-over-year increase in digital payments through Zelle, and the $1.95 trillion bank plans to build out its mobile banking offerings for both consumers and businesses, the BAN team notes.
The editors also run down news from the $3.1 trillion Bank of America and $187.5 billion Citizens Financial Group, which both saw significant net income gains last year compared with 2020, largely due to digital channels, services and sales. The two banks are leaning heavily on digital banking and products for future growth.
Tune in for a discussion of these topics and what's ahead in today's episode of the Weekly Wrap with BAN Deputy Editor Loraine Lawson and Associate Editors Aaron Marsh and Alijah Poindexter for the week ended Jan. 21, 2022.
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