Latest news with #ConsumerBanking
Entrepreneur
3 days ago
- Business
- Entrepreneur
JPMorgan Is Opening 'Affluent Banking' Centers. Here's Where.
The bank is planning to open 31 new financial centers by the end of 2026. In May 2023, JPMorgan Chase acquired a "substantial majority of assets and assumed the deposits and certain other liabilities" of First Republic Bank after it collapsed and was seized by regulators. The deal also included First Republic's brick-and-mortar locations. Two years later, JPMorgan is announcing what it's doing with the real estate: opening 14 new "J.P. Morgan Financial Centers" in four states that are "thoughtfully designed to cater to the needs of affluent clients," according to a company statement. Related: JPMorgan Chase Says AI Could Cut Headcount By 10% in Some Divisions: 'We Will Deliver More' "Through these Financial Centers, we are redefining how affluent clients are served, offering a highly personalized level of service that is backed by the global capabilities of JPMorganChase," said Jennifer Roberts, CEO of Chase Consumer Banking, in a statement. Two locations are already open, 14 will open in 2025, and then JPMorgan says it is doubling the total to 31 by the end of 2026. The new branches are opening (mostly) in the former First Republic locations that JPMorgan acquired in May 2023, including Palm Beach, Florida; Napa, California; Madison Avenue, New York; and Cambridge, Massachusetts, according to the release. "These new Financial Centers offer a highly personalized service model, providing greater flexibility to meet clients' needs with exceptional attention and care," Roberts said. Related: 'I Defend Your Right to Buy Bitcoin': JPMorgan Will Let Customers Buy Bitcoin, Though CEO Jamie Dimon Still Thinks It's Like a 'Pet Rock' Clients with more than $750,000 in qualifying deposits and investment balances are welcome at the new, office-based model, which was inspired by First Republic, JPMorgan notes. Customers who don't live near a new center can still access the services at their current location or remotely. Chase also offers a lower-tier called "Private Client," which is for clients with $150,000 or more in qualifying deposits and investment balances. It is available in all 5,000 Chase branches nationwide, per the release. Related: 'This Has to Stop': JPMorgan CEO Jamie Dimon Outlines How to Run a Successful Meeting
Finextra
14-05-2025
- Business
- Finextra
BofA to open more financial centres
Bank of America will open more than 150 new financial centers across 60 markets by the end of 2027, including 40 this year and an additional 70 in 2026. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. Since 2016, Bank of America has invested over $5 billion in its financial centers network, opening new locations and renovating existing centers. "Our continued investment in our financial center network reflects our commitment to meeting our clients where they are and how they want to bank with us," said Holly O'Neill, President, Consumer, Retail and Preferred at Bank of America. "We are focused on creating spaces where financial specialists can meet with clients and help them achieve their financial goals.' New flagship center Bank of America has just opened a new flagship financial center at 2 Bryant Park in New York City. The center is designed for clients to connect with financial specialists, or have informal meetings, capturing the spirit of Bryant Park's famous tables and chairs which have hosted gatherings for New Yorkers and visitors for decades. The center also features a one-of-a-kind art installation by a NY-based artist portraying the perpetual motion of finance and the city, and how the bank helps bring together all its services for clients. Idaho expansion Bank of America continues to expand into markets where it can extend its reach to clients. The bank currently serves consumer, small business, wealth management and corporate clients throughout Idaho and will soon open four financial centers serving Boise, the first of which will open June 9 in Nampa, Idaho. "Opening centers in Boise is an exciting milestone and reflects our commitment to bringing first-class financial services to more communities," said Will Smayda, Head of Financial Centers for Bank of America. "We're proud to support local economies by creating jobs and fostering long-term relationships with clients and their communities.' More than a decade of expansion and investment Since 2014, Bank of America has steadily expanded its financial center network, entering into 11 new markets, the most recent being Louisville in 2024. The company has also opened 471 financial centers in existing markets since 2016 reflecting trends in how and where clients choose to engage with the bank. Last year, the bank completed renovations to more than 3,000 centers – with over 500 additional renovations planned over the next two years. Through a partnership with ArtLifting, over 1,600 financial centers now feature artwork by artists living with disabilities or impacted by housing insecurity. New sign language services for clients Earlier this year, the bank launched a service to provide on-demand American Sign Language (ASL) interpreters over video in all financial centers. Clients can connect with an ASL interpreter free of charge by scanning a QR code, allowing them to discuss their financial needs using ASL with a financial specialist. Bank of America clients can now use their phones to connect with America Sign Language interpreters. Serving more clients in more places Bank of America currently provides banking access to nearly 250 million people across more than 200 markets, or approximately 82% of the U.S. population. Nearly 30% of the bank's financial centers are in low- and moderate-income communities. With more than 90% of client interactions taking place through the bank's digital channels, the bank's financial centers have adapted to focus on meeting spaces where clients can have in-depth conversations about their finances. In the past year, clients have made approximately 10 million appointments with financial specialists in financial centers.
Zawya
12-05-2025
- Business
- Zawya
Capital Bank launches 'Premier' savings account with returns of up to 4%
Capital Bank has announced the launch of its new Premier Savings Account, offering customers competitive annual returns of up to 4%, paid out monthly. The account is designed to strike the perfect balance between saving and liquidity. As one of the most notable new savings solutions in the Jordanian market, this product reflects Capital Bank's commitment to developing innovative financial offerings that meet evolving customer needs, delivering exceptional benefits in a trusted and flexible banking environment. The interest rate on the 'Premier' Savings Account, whether in Jordanian Dinars or US Dollars, is determined based on the number of debit transactions made on the account during the month. If the account has between zero and two debit transactions in a month, the customer earns an annual interest rate of 4% on JOD accounts and 2% on USD accounts. If more than two debit transactions are made during the month, the interest rate drops to 0% for both currencies. Customers must maintain a minimum average monthly balance of JOD 10,000 or USD 10,000 to be eligible for the monthly interest. Commenting on the launch, Nadeem Khitan, Chief Consumer Banking Officer at Capital Bank, said, 'At Capital Bank, we're focused on offering advanced banking solutions that align with our customers' goals and daily financial needs. The Premier Savings Account is another step toward empowering smart saving, offering attractive returns without compromising access to funds.' Khitan also highlighted that the Premier Account supports Capital Bank's broader strategy of promoting a savings culture through carefully tailored financial products that reflect today's dynamic lifestyles. It's an ideal choice for individuals seeking secure and growing returns on their savings. About Capital Bank Group Capital Bank Group is recognized as a leading financial institution in both the Jordanian and regional markets with total assets of JOD 8.2 billion and a total equity of approximately JOD 756.5 million. The Group encompasses Capital Bank of Jordan, which has evolved since its establishment in 1995 into one of Jordan's premier financial institutions. It offers a comprehensive range of commercial and investment banking services, tailored to meet the diverse needs of both retail and corporate clients. In 2005, Capital Bank of Jordan acquired a majority stake (61.85%) in the National Bank of Iraq (NBI). This strategic acquisition enabled NBI to expand its product and service offerings, strengthen its market position, enhance financial inclusion, support export activities, and provide a broad array of services to businesses operating in Iraq. Continuing its expansion strategy, NBI opened its first branch in the Kingdom of Saudi Arabia in 2023, offering financial and trade services to its corporate clients. Capital Investments, a wholly owned subsidiary of Capital Bank established in 2006, has emerged as a regional leader in the investment banking sector. It provides comprehensive services including asset management, brokerage, and corporate financial advisory. The company caters to a diverse base of clientele, including major corporations, government entities, and high-net-worth individuals, through its offices in Jordan and the Dubai International Financial Center (DIFC) in the United Arab Emirates. Pursuing its ambitious growth strategy, Capital Bank Group acquired Bank Audi's operations in Jordan and Iraq in 2021. This was followed by the acquisition of Société Générale Bank in Jordan in 2022, further solidifying its competitive position in the Jordanian banking sector. In early 2022, Capital Bank launched Blink, a digital bank aimed at redefining banking for retail customers. In 2022, Capital Bank strengthened its capital base by issuing a USD 100 million Tier 1 perpetual bond—the first of its kind for a Jordanian bank in the local market, listed on NASDAQ Dubai. Additionally, Capital Bank raised its capital by issuing new shares to the Public Investment Fund (PIF), one of the largest sovereign funds globally, as a strategic investor. With a 23.97% stake, this capital raise enabled the Group to continue executing its expansion strategy and its commitment to continue introducing innovative products and services that benefit both clients and shareholders. Commemorating its commitment to excellence in 2024, customer-centric practices, innovation, and excellence in digital banking services, Capital Bank of Jordan received the 'Best Digital Bank' award in Jordan from Euromoney magazine and the 'Best Mobile Banking App in Jordan' award from International Business Magazine.
