 As 2020 draws to a close, our final newsletter of the year highlights the top trends that shaped a year that was like no other.
Our first Deep Dive of 2020 explored banking deserts and the fintechs and financial institutions tackling the problems facing the nation’s unbanked and underbanked communities.
Weeks after that story published, the disruption brought on by the novel coronavirus pandemic put a spotlight on the need for banks to enhance their digital offerings for clients and employees, as social distancing and remote work became the norm.
Legacy banks began to rethink their branch networks, while de novos played to their strengths amid the disruption.
Amid the summer's protests and a national reckoning on systemic racism, some of the largest banks pledged cash infusions to support Black businesses and homeownership, while corporations made deposits in Minority Depository Institutions (MDIs).
Cryptocurrency’s quest for acceptance among the banking sector and its regulators saw highs and lows in 2020. And bank executives, perhaps fatigued — or restless — by what seemed like an endless year, dropped their usual filters and said or did exactly what they were thinking.
As you reflect on the past year, let us know what caught your eye. Will these trends stick around for 2021?
We'll be back in your inbox with our regular newsletter coverage on Monday, Jan. 4. In the meantime, consider sharing this link with colleagues to help them stay informed in the new year: https://www.bankingdive.com/signup/insiders/?signup_referred_by=5f93078d7aa51972095c9316
Wishing you a happy and healthy New Year! As always, thanks for reading.
 Anna Hrushka
Reporter, Banking Dive
Twitter | Email Deep Dive As big banks concentrate their branches in cities, smaller financial institutions and digital companies find ways to irrigate in abandoned markets. |
Many customers turned to digital options once banks began temporarily closing branches in March. Most may not be missing the trip. |
Deep Dive With 70% of bank staff working remotely and more clients using digital channels, cutting back on square footage is the new efficiency. |
Deep Dive It's a difficult time to launch any business, much less a bank. But the timing comes with opportunities and challenges, industry leaders say. |
COVID-19 brought a torrid pace of acquisitions to a halt, with CEOs preoccupied and sellers fighting slumping value. But an M&A attorney expects deals to "heat right up" when the outbreak clears. |
Citi, Wells Fargo and Bank of America all vowed to maintain staffing levels throughout the coronavirus crisis, while European lenders such as HSBC and Deutsche Bank, which were planning layoffs, put them on hold. |
Column Citi's billion-dollar pledge and Deutsche's stay-home policy show when one bank misfires, another redirects the narrative. |
A New York regulator gave the payment company a conditional BitLicense allowing U.S. account holders to buy, sell and hold digital coins from four platforms in their PayPal digital wallets. |
Barwick Bank's new owners installed a fresh core operating system, launched a suite of online banking products — and aim to expand into neighboring Florida while keeping a relationship-driven ethos. |
Column December and January bring the kind of fatigue and restlessness that yield uncharacteristically blunt talk and actions from executives. Goldman ex-President Gary Cohn opting for charity over clawback? Winter filter. | | |
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