3 banks providing innovative digital services in the US

By Edlyn Cardoza

The future of banking is digital, connected, contextual, and customer-first. Through meticulously selected partnerships and technology, digital banks are upgrading their banking strategy to match how individuals and small business customers manage everyday banking tasks.

Today’s generation of consumers requires a feature-rich, fully integrated digital banking platform. Recent research shows that more than 43% of consumers in the U.S. switched their primary financial institution because of mobile banking-related reasons, and 35% switched due to online banking-related reasons.

Neobanks and challenger banks are well positioned to meet digital challenges and garner the benefits of the new digital economy. As the market transforms, they are shaking up the traditional branch-based banking systems and pushing the industry to become more agile and competitive.

Here are 3 digital banks setting their mark to revolutionise banking in the US:

• Axos Bank

Axos Bank empowers consumers and businesses to easily manage their financial lives. Through a blend of human insight and digital expertise, they help their customers plan, bank, borrow, and invest in a way that’s both convenient and customised.

More than two decades ago, Axos reinvented the banking model. Launching as a digital bank in 2000 signalled its independence from brick-and-mortar banking. Since then, they have grown to over $15 billion in assets.

• First Financial Bank Texas

Since 1890, First Financial has been serving customers’ financial needs just like you. Today, First Financial Bankshares is recognised as one of the nation’s top performing banks.

First Financial is not your everyday bank. Our “One Bank, Multiple Regions” concept combines the best of “Big Bank” customer benefits with a community bank’s local decision-making and involvement. First Financial business online banking puts you in control of your finances. No matter what type of business you run, you can conveniently and securely manage your account 24 hours a day, 7 days a week.

• Thread Bank

Thread is a connected financial ecosystem that will help you build value without building your systems. They use their technology platform and charter to empower individuals, entrepreneurs, FinTechs, and brands to integrate fully compliant financial solutions into their customer experience.

Thread believes that the future of banking is digital, connected, contextual, and customer-first. They are building a financial ecosystem of simplified banking solutions that seamlessly weave into your business and life.

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