Weekly Wrap: Consumers don’t need branches, and bank incubators stay busy

It seems consumers need bank branches less than before. A Plaid study showed 80% of consumers now say they can bank without a branch. Banks like Citibank and Silicon Valley Bank, meanwhile, are launching new platforms out of internal incubators. “We have seen from the research we have done with our clients and investor partners that there is tremendous value in us developing new solutions and new businesses to meet their top needs,” said Melody Dippold, managing director and head of innovation at Silicon Valley Bank. Find this and more in today’s edition the Weekly Wrap, featuring JJ Hornblass and Rick Morgan for the week ending Sept. 18, 2020.