A majority of ag lenders—69.7%—reported that overall farm profitability increased in the prior year, due in large part to government support, which is estimated to account for 38% of ag borrowers’ net income, according to the 2021 Agricultural Lenders Survey conducted by ABA and Farmer Mac.
Customer satisfaction with mortgage originators industrywide declined five points to 851 on a scale of 1,000, according to the J.D. Power 2021 Primary Mortgage Origination Satisfaction Study of both bank and nonbank mortgage lenders released today.
Banks that layer “non-linear” or “adaptive” business models on top of a traditional, vertically integrated model could see additional annual growth rates of up to 3.8%—or $518 billion in revenue—by 2025, according to a new report by Accenture.
Ninety-nine percent of respondents in a recent American Bankers Association/Morning Consult survey rated their bank’s online and mobile app experience as “good,” “very good” or “excellent,” matching last year’s record, and 81% agreed that technological improvements by banks are making it easier for all Americans to access their financial services.
As older Americans—those born before 1965—hold 65% of deposit balances in the U.S., banks have continued to offer more products with terms that are favorable to them, according to the American Bankers Association Foundation’s 2021 Older Americans Benchmarking Report released today.
Eighty-two percent of small businesses said they maintained or gained trust with their bank in 2020 amid the COVID-19 pandemic, and an even greater majority—85%—believe that their needs are being met by their current bank, according to a new survey from consulting firm West Monroe this week.
Banks’ efforts to deliver Paycheck Protection Program loans to their small business customers and help them navigate the forgiveness process drove overall customer satisfaction levels to record highs in 2021, according to the latest J.D. Power Small Business Banking Satisfaction Study released today. Small businesses gave their banks a satisfaction score of 829, up from 822 last year.
Most Americans prefer to do their banking through mobile apps, according to new research released by Morning Consult on behalf of the American Bankers Association.
A new survey by fintech company Delta Data found that almost 60% of banks are using heavily manual processes in their approach to asset transfers within their trust and wealth management groups.
Nine in 10 Americans with a bank account say they are satisfied or very satisfied with their primary bank, according to the results of a new Morning Consult survey released today during the American Bankers Association Annual Convention in Tampa, Florida.