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Whats Going On In Banking

Community-Based Financial Institutions’ Priorities, Fintech Plans, and Future Forecasts

Financial institutions’ strategic priorities, fintech trends, and industry outlook.

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Cornerstone Advisors recently surveyed 300 senior executives at U.S.-based mid-sized financial institutions and learned that while more than half of bank and credit union executives are optimistic about the new year, they considered the interest rate environment a major concern for 2020.

Other key highlights of the survey include:

  • 65% of banks and 76% of credit unions said fintech partnerships will be important to their business strategies in 2020;
  • The number of banks citing mortgages, consumer loans, and consumer fee income as a priority this year is up significantly from 2019;
  • The percentage of banks and credit unions that have deployed AI and machine learning tools is in the single digits.