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Finance
One in four bank customers consider switching as AI era shakes loyalty
One in four bank customers recently considered changing their main bank, a survey by Celent and Temenos showed. Many customers reported no strong dissatisfaction with their current bank but said they could switch for better terms, digital experiences and personalised rewards. The report described this group as a “switchable middle”. It found rising expectations for AI-enabled service, while banks face fragmented data and systems and invest little in personalisation.
Finance
Ripple secures $200 million debt facility to expand Ripple Prime
Ripple has secured a $200 million debt facility from investment manager Neuberger Berman, with the funds to be used to grow Ripple Prime, a multi-asset prime brokerage platform aimed at U.S. institutional clients. The facility will be provided by Neuberger Berman Specialty Finance. Ripple plans to expand Ripple Prime’s credit capacity and improve service responsiveness and capital efficiency for institutional customers.
Finance
Fintech firm Mercury clears U.S. OCC hurdle, speeds push to launch own bank
U.S. fintech firm Mercury has received conditional approval from the Office of the Comptroller of the Currency for its national bank charter application, moving it to the next stage of launching Mercury Bank. The company said it will keep working with regulators to meet remaining requirements. Mercury is also seeking federal deposit insurance from the FDIC and plans to apply to the Federal Reserve to convert into a bank holding company.
