2017 Latest Banking Trends in United States

Every year the banking trends change in the United States. There are combinations of dramatic changes in the trends of the banking industry that are observed not in the United States but in various parts, almost all of them in the world. You will notice a rise in the interest rate charged by the banks, a dramatic reduced tax cut on the regulation of policies in the banking environment and an altogether shift in the way in which profit is earned. There will also be a difference in how much profit will be earned by the banks. Of course the changes in the banking trends also incorporate the efficient use of technology and other banking processes that are relatively new and modernized. As per experts and professional financers, 2017 is going to be a big year of change for the banking industry of the United States. Let’s take a look at the changed trends that we all anticipate to witness in 2107 in banking industry of the United States.

Banking trends observed in 2017 in the US

The following are a few drastic and prominent trends in the banking industry that will become evident and noticeable in the finance and banking industry of the United States of America in 2017. The following are the trends that are predicted by financial experts, so let’s take a quick overview over them.

  1. Shift in C.A.R.L costs

The first trend that is expected to come into focus within the first few months of 2017 is a drastic shift in the C.A.R.L costs. C.A.R.L stands for compliance, audit, risk and legal costs. A shift in this cost means that there will be a significant shift in how the expenses are being made with the clients as the main central focus. This change was visibly absent in 2016 but is reported to be emerging 2017 early part of the year.

  1. Transfer of banks into digital service providers

Another trend that will be observed is the transfer of focus of large and mid-sized banks of America into being a digital service provider of services. This way we will see that most of the banks will be incorporating the use of latest high-end technology to digitalize their services for the customers.

  1. Active use of APIs

The use of APIs has been visible absent from the banking scene in America for the past many years but this will not be the case any longer. In 2017, more and more banks will be seen using the APIs which means that they will be welcoming the interference of third parties to channel their services and bring in more profits for their financial organizations. This will also help them to publicize their products in a better way.

  1. Boost in digital expenditure trends

Mobile and online banking has though become very popular in the recent times but the banking sector of the US will be seen focusing on the sector a lot more to promote it. For this purpose, users this year should expect a lot of discounts and reward deals from their respective banks.

 

 

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