Mass. Banks, CUs Venture into AI-Powered Territory

A year after ChatGPT burst onto the national stage, Massachusetts’ banks and credit unions have begun adopting artificial intelligence-powered software tools in quests to enhance customer experience, offer new products or improve operational efficiency.

Fed Rate Cuts No Panacea for Banks

Despite signals that the Federal Reserve will likely cut interest rates this year, banks will still find it tough to keep high deposit rates from eating into their profit margins, observers say.

J.D. Power: Credit Card Spending Falls

Increased financial stress and alternative financing options have contributed to a significant decline in the overall share of customer spending allotted to a primary credit card, according to a recent study from J.D. Power.

J.D. Power: Satisfaction With Bank Advice Declines

Customers of varying ages and financial health status want banks to help them improve their financial situation, but satisfaction with advice and guidance provided by national and regional banks has dropped significantly over the past year, according to a new study from J.D. Power.