Banking

A lesson in history: What role competition plays in banking and why there are so many banks in America

  • There are 4100 banks in America. Why does America have so many banks? And does it have anything to do with the recent bank failures?
  • The answer to these questions has to do with how competition in banking has been conceptualized in America historically. Let's take a trip down America's history and see what stories Alexander Hamilton and Thomas Jefferson have to tell us about where we are today.
Rabab Ahsan | May 11, 2023
close

Email a Friend

A lesson in history: What role competition plays in banking and why there are so many banks in America

 

subscription wall for TS Pro

0 comments on “A lesson in history: What role competition plays in banking and why there are so many banks in America”

Banking, Partner, Payments

With chargeback volume set to hit 324 million in 2028, merchants and issuers need to find a way to protect their bottom line

  • Factors like the increase in digital payments adoption are contributing to a rise in the global volume of chargebacks, and a significant chunk of this volume will reside in North America.
  • Today's story gives an industry-wise breakdown on chargebacks, and a deep dive on what strategies merchants and issuers are currently using to combat chargebacks and where they can improve.
Rabab Ahsan | April 15, 2025
New banks

Banking Without Borders: How Lili is making US banking accessible to international SMBs

  • A quarter into 2025, Lili, a small business banking platform, is exploring a more fluid approach to global expansion.
  • Lili’s international move involves pulling entrepreneurs into the US SMB banking ecosystem, giving them a pathway to start and manage their businesses stateside.
Sara Khairi | April 03, 2025
Artificial Intelligence, Banking, Podcasts

The story of Erica, Bank of America’s homegrown digital assistant

  • Bank of America's Hari Gopalkrishnan dives into how the bank developed its digital assistant and how its role has expanded over the years.
  • On the show, Hari speaks about the challenges the firm faced when building Erica and then takes his sights to the future, giving us a never-before-seen look at how one of the biggest banks in the industry is thinking of Gen AI.
Rabab Ahsan | April 01, 2025
Artificial Intelligence, Banking

GPT-4 faces a challenger: Can Writer’s finance-focused LLM take the lead in banking?

  • We often focus on chatbots built by banks and financial firms, but today, we explore the engines driving chatbot interactions and platform automation.
  • Banks typically turn to GPT-4 for LLM solutions, but a potential rival is emerging. San Francisco’s Writer, a gen AI company, is pushing forward in enterprise AI with domain-specific LLMs like Palmyra Fin.
Sara Khairi | March 06, 2025
Banking, Business of Fintech, Creating win-win partnerships, Partner, Podcasts

“We want this to be a long term relationship, minimum 5-10 years”: Citi’s Chafic Haddad on how the bank chooses fintech clients and builds evolving partnerships

  • Citi's Global Head of Fintech Sales Chafic Haddad, shares insights on the bank's fintech strategy, revealing how the bank prioritizes partnering for the long term.
  • He shares how Citi enables fintechs to expand beyond home markets, plays the role of both provider and co-creator, and leverages its network across 90+ countries.
Zack Miller | February 26, 2025
More Articles