Online banks are increasing their market share of deposits in Schalge Blinkova
American online banks such as Ally Financial and Capital One Financial are expected to continue to displace traditional banks from the Deposit market. Last year they raised $95 billion
customers ‘ deposits. The main “weapon” of such banks higher rates on deposits.
According to analysts of the brokerage company Evercore ISI, these online banks now occupy about 10% of the total market deposits in the U.S., having accumulated about $1.26 trillion. Market leader Deposit US is
Bank of America with a market share of 48%.
Journal: Journal IT-News, Subscription to magazines