When outsourcing fails; why some banks' wealth deposits are falling

When outsourcing fails: One bank's travails after a vendor bolted. UMB Bank hired an outside company to provide customer service in connection with some of its credit cards and debit cards. In a lawsuit, the Missouri bank alleges that the vendor suddenly stopped performing its duties, and that the bank's own employees had to step into the void.

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Why wealth deposits remain a sore spot for banks: During the recent banking crisis, both businesses and wealth management clients moved their money out of banks. Commercial deposits have since recovered, but those in wealth accounts continue to decline amid fierce competition from both inside and outside the banking system.

Credit unions' expansion in California fuels bankers' ire: Critics slam their proposed reach as unfair competition.

Read more on community banking: Carver Bank says CEO is leaving, plans national search for successor

Small-bank rarity: A digital launch that happened on time. Citizens Bank of Edmond in Oklahoma, in conjunction with the digital-banking platform Narmi , recently launched an account-opening process that occurs completely online. The project, completed in less than three months, could be a model for community banks that want to innovate but fear being a low priority for vendors.

Read more on bank tech: How blockchain is helping Northern Trust self-execute contracts

Hybrid work, business travel drive demand for virtual cards: Corporations are leaning harder on virtual cards as post-pandemic business travel ramps up amid hybrid work arrangements, according to a new 萬事達卡 survey. Visa separately has extended its collaboration with virtual-card technology provider Conferma .