JPMorgan's deposit growth slowing as customers seek higher yield - Reuters

Neobanks seem to be getting the attention of giants. JPMorgan, the largest bank in the US, said deposit growth has slowed. Gordon Smith, co-president and COO said “People are taking a component of their deposits. They’re parking those deposits with a high-yield competitor, whomever they may be.” Getting anywhere between 2.0% and 2.45%, consumers don't seem to be content with bad service and no return. Whether it prompts a move is another thing, but noteworthy to see it get mentioned in the C-Suite. 


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