mobile banking

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How Banks Are Driving Deposits Now

Mid-tier regional banks, community banks and credit unions are under increasing pressure from larger, national banks intent on luring away their customers. Seeing their deposits pulled away by these competitors is one of the most ominous trends in the industry right now. To put the problem in perspective, whereas average annual deposit growth industry wide is 4.6 percent, JP Morgan Chase, one of the nation’s largest banks, has seen its deposits grow 9.5 percent since 2014. Other large national banks,