Supervisors Symposium - December 2023

market shifts creating opportunities in 2023 • Rate hikes drive deposit churn and proliferation of automated savings and investments to protect core deposits, lower cost of funds, capture wealth transfer • Crypto winter creates a wealth-tech spring • Impending recession shifts payments preferences to debit, cash and BNPL • Tech layoffs create talent acquisition opportunity • Slowdown in payments growth threatens fintechs’/neobanks’ interchange rev-share biz models • Retail revenue crunch drives shift to SMBs & commercial • Fintech carnage creates opening to reclaim market share

strategy

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