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AUGUST 26, 2025 |
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By comparison: True or false? Satisfied credit card holders use buy now, pay later (BNPL) services as often as general BNPL users. |
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OPEN BANKING |
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Visa reportedly shut down its open banking operations in the US, per Bloomberg, a striking shift from one of the biggest names in payments amid the turmoil of the CFPB’s 1033 rulemaking. |
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How we got here: Open banking regulation in the US is a mess. |
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The CFPB finalized open banking rules in October 2024. The rules had won praise from at least one top Republican, and some had speculated that the rule would survive President Donald Trump’s full-scale assault on the agency.
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Those hopes lasted until May, when the CFPB under acting Director Russel Vought first said that it would modify the rule and later asked a court to vacate the rule entirely.
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Before the rule was even gone, JPMorgan Chase said that it would start charging fintechs to access customer data. PNC indicated that it would follow suit. |
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BUY NOW, PAY LATER |
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Middle-income credit cardholders who are satisfied with their card are more likely to use buy now, pay later (BNPL) products than all other BNPL users, per a YouGov survey. |
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48% of satisfied US credit cardholders who used BNPL in the last month reported being middle-income, versus 39% of all BNPL users.
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BNPL users who were satisfied with their credit card were also more likely to be higher income than all BNPL users, at 10% to 8%. |
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What this means: Satisfaction isn’t enough to retain US credit card users’ exclusive loyalty. While middle- and higher-income adults likely can enjoy the benefits of a credit card without the risks that plague lower-income adults, BNPL products still hold allure. |
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FINTECH |
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Some of the largest banks in the US are going on a building spree, opening upward of 1,000 new branches across the country to win more depositors. |
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JPMorgan Chase, already the bank with the largest US footprint, will open 500 new branches, per Costar.
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Bank of America and PNC plan to open 150 and 220 branches, respectively.
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Truist will open 100 new branches and renovate more than 300 other locations. |
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Despite the splashy headlines, branch banking is in chronic decline nationwide. Two branches closed for every branch that opened in 2024, per data from the American Bankers Association cited by Costar. |
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REPORT |
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Financial institutions (FIs) are under pressure from customers, competitors, and leadership to turn data and AI investments into real-time personalization, deeper engagement, and growth. Despite upping spend, many struggle to activate insights, personalize at scale, and drive measurable customer value. As competition intensifies and loyalty declines, the gaps between strategy and execution are becoming too big to ignore. |
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This deck covers where engagement strategies are missing the mark, how data fragmentation and underused insights are blocking personalization at scale, sentiment toward AI adoption, and more. |
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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: Over half (53%) of insurance executives worldwide are building internal expertise to prepare for widespread adoption of AI, according to Q1 data from Genpact in collaboration with Amazon Web Services. | | | |
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