US banks closed more than 2,000 bank branches in 2017, an 18 percent increase form the year earlier; Wells Fargo is one of the leading banks as they closed 194 branches and plan to close more than 800 more by 2020; other banks like Citizens Financial is reducing square footage at branches but not closing as many; Banking Technology lists the top 10 banks by branch closures. Source.
BNPL is expected to hit $680 billion in e-commerce transactions by 2025. 30 more stats cover consumer attitudes, demographic use and more.
According to McKinsey $10 trillion is sent across borders by consumers and small businesses every year; however it is an...
The SEC is suing Direct Lending for inflating returns by about 2 to 3% per year according to Bloomberg; the...
A few changes to underwriting rules could result in a huge opportunity for both lenders and minority women who own businesses.
According to the Wall Street Journal, E*Trade has five million retail customers including $360 billion in assets; Morgan Stanley will...
Morgan Stanley CEO James Gorman said he thinks bitcoin is “certainly something more than just a fad,” according to a Bloomberg report; he also stated that the concept of anonymous currency is interesting because of the privacy it provides; while he has yet to invest in the technology he does see more regulatory control coming soon. Source.
After completing a 16 month pilot program Morgan Stanley has announced their robo advisor Morgan Stanley Access Investing; there is a $5,000 minimum with a 0.35 percent fee and they will offer 11 portfolios, including a socially responsible option; the goal of the new service is to offer current clients’ children a better, more affordable wealth management option. Source.
Morgan Stanley knows how important data is to the core of their business and in 2018 they created the data...
Morgan Stanley has partnered with Addepar to provide investment management platform services for its private wealth management group; Addepar is a growing investment management platform that provides solutions for aggregating and managing the wealth of private high net worth clients; Addepar is supported by Peter Thiel; prior to the partnership with Morgan Stanley its clients primarily included registered investment advisors; it is now seeking to expand to a broader range of large private wealth banking clients. Source