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NOVEMBER 4, 2025 |
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Made for you: What percentage of women say the products and services recommended to them by their financial institution (FI) are relevant to their unique needs? |
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A) 7% B) 17% C) 27% D) 37% |
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INSURANCE |
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Nationwide Financial announced a $1.5 billion investment in technology through 2028, including $300 million for AI initiatives. The company aims to simplify business interactions and advance its data protection capabilities. |
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Nationwide plans to have 90% of employees “actively using everyday AI platforms by next year” to allocate their time most efficiently. Its live AI use cases include employee-facing customer service tools, telematics to risk-score drivers, and AI to summarize claims. |
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DEBIT CARDS |
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The Southwest Airlines Rapid Rewards Debit Card runs on Visa’s network and is issued by Sunrise Bank in partnership with SoFi-owned Galileo’s card issuing platform. The card comes with a $6.99 monthly fee unless the cardholder maintains a minimum average monthly balance of $2,500. |
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Given debit card transactions don’t have the same margins as credit cards, rewards programs have been difficult to implement. Fintechs have led innovation in this space—in part by partnering with smaller issuers who aren’t subject to the same debit interchange caps as big banks. |
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DIGITAL BANKS |
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This week, JPMorgan Chase will launch a digital-only retail bank in Germany in 2026. And Santander revealed that its US digital-only retail bank, Openbank, attracted over $6 billion in deposits in its first year. |
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In 2021, JPMorgan launched a digital-only retail bank in the UK—the first attempt by a US bank to start a consumer bank from scratch in another country. This set the foundation for JPMorgan’s growth in Europe: The bank also established an international consumer banking division based in London. |
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Spain-based Santander, which entered the US in 2010 through an acquisition, brought over the Openbank brand in 2024. It’s now starting to establish a physical presence for the digital-only bank, opening the first Openbank branch earlier this year in Florida. |
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REPORT |
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Fintechs, Big Tech, and payment players are using genAI and agentic AI to collapse financial boundaries—connecting platforms and merging ecosystems to redefine value. To remain competitive, banks must respond with targeted genAI investments that enable hyper-personalized, human-centered experiences across customer life stages. |
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Key question: How can banks capitalize on genAI and agentic AI to stay competitive as other tech-driven financial services players redraw industry lines? |
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Key stat: GenAI has the potential to add $157 billion in value to US banking in 2025, with the front office capturing nearly half, per a February 2025 report from KPMG. But unlocking that value will require strategic and human-centered deployment. |
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(EMARKETER subscription required to read the full report) |
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CHART OF THE WEEK |
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Key stat: Among US brand and agency ad buyers who are concerned about the negative impact of tariffs on ad spend, only 10% believe financial services will be the most impacted, according to August data from the IAB. | | | |
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