The Outlook for Bank and Fintech M&A in 2024
The Financial Brand
The world’s leading retail digital banking and financial marketing publication, and host of The Financial Brand Forum.
The report: Global M&A Report 2024 (January 2024)
Source: Bain
Bain's latest annual M&A report offers both solid insight into M&A activity last year and outlines what the global management consulting firm predicts for 2024. In 2023, the overall M&A market dropped 15% to $3.2 trillion, its lowest level in a decade.
Deals were delayed for many reasons including high interest rates, mixed macroeconomic signals, regulatory scrutiny and geopolitical risks. Additionally, many frequent acquirers used 2023 as an opportunity to expand their competitive advantage through M&A...Read the full article.
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10moWhy banks are saying goodbye to CMO. 40 plus years in deposit operations and system administration and I never had marketing ask me if they could learn system capabilities. I actually drove to work one day in the 70’s and saw our bank advertising a new product that I knew the system could not process. My best relationships were knowing if I approached marketing with a new idea they would take me seriously. I felt that the successful campaigns were either offering high interest rates lowest fees or image ads. The most effective growth in new accounts was first a local well respected medium size bank was purchased by large regional bank which immediately increased deposit fees and mangled first three months direct deposit. Never saw so many irate customers opening new accounts with us over six months. Second most effective campaign in 1982 when money market accounts were legal. We advertised a rate 1% higher than Donahue MMA average rate posted in WSJ. Saw more new money than many much larger regional and national banks in our area. Campaign I liked best was sending a $2.00 check to all our customers who had our first mobile product that didn’t have mobile deposit and were were offering a new product that did. 38% used.