Reasons Why Direct Banks are Taking the Banking Industry by Storm by Bob Legters, Chief Data Officer of Banking and Payments for FIS

Bob Legters
Chief Data Officer of Banking and Payments
Posted on May 16, 2019
direct bank interface on tablet

Direct banks have existed for decades but are quickly growing in popularity. From the higher-than-average deposit interest rates, fee-free accounts and convenience of a digital, self-service experience, there are plenty of reasons why consumers are attracted to this type of banking experience. Just look at what happened when Citizens Bank launched its own direct bank, Citizens Access: It attracted more than $1 billion in deposits just three months after launch!

While consumers are happy to reap the benefits of direct banking, what many don’t realize is they’re entering into a new silent partnership that’s changing the financial services industry as we know it. Here’s a closer look at the unique, symbiotic relationship direct banks have brought to financial services and why it’s helping them take the banking world by storm. Read the full article on Forbes here.

Leave a Reply

Bob Legters
Chief Data Officer of Banking and Payments

For the past two decades, Bob has focused on products and services support for clients. He has spent 17 of those years in a leadership role with groups ranging from 5 to 200 employees. Bob’s unique experience allows him to efficiently operate at a level that exceeds the normal executive role of understanding and recognizing client and consumer needs in the payments space.