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A one-size-fits-all contract is usually geared to a fintech’s interests rather than a bank’s, says Ryan Rackley, partner at Cornerstone Advisors who heads up the firm’s contract negotiations solutions group. "That’s why it’s so important for community banks to get the nuts and bolts of a contract right."

"For BNPL lenders, it becomes a scaling and acceptance question," said Tony DeSanctis, a senior director at Cornerstone Advisors. "If Affirm or Klarna or Afterpay are trying to get merchants on board, partnering with a processor can add thousands of merchants."

The report elaborates on the features of Senior Financial Management products and advises banks on how to integrate these tools to protect and manage the financial interests of the aging population effectively.

A new study from Cornerstone Advisors found that one in 10 Americans with parents (or a parent) over the age of 60 do all or most of the work to manage their parent(s)’ financial life, with another 28% helping from time to time.

Cornerstone Advisors released a report highlighting a $1 billion revenue opportunity for financial institutions through Senior Financial Management (SFM) tools. These digital banking products help adult children manage elderly parents' finances and protect against fraud.

Once the acquisition was called off, First Horizon had to go into a rapid action plan, said Mary Eyre, managing director of mergers and acquisitions at Cornerstone Advisors.  "That's an immediate assessment of the implications of the change," Eyer said.

Financial institutions are increasingly looking to expand their use of AI, according to a 2024 report by Cornerstone Advisors. The percentage of banks planning to invest and/or implement generative AI is forecast to more than double—from 6% who have already invested or deployed it, to 14%, in 2024.

Cornerstone Advisors research reveals that almost half of the checking accounts opened in the US since 2020 have been at digital or fintech banks, while only 20% have been at big banks.

According to the What’s Going On in Banking 2024 report from Cornerstone Advisors, 48% of credit union executives identified cybersecurity as a top concern, up from 35% in 2023. This growing awareness reflects the escalating risks that credit unions face.

Tony DeSanctis, senior director at Cornerstone Advisor, said the rule was "written by regulators and lawyers who don't understand the banking business," and noted that CFPB's mention of Pay by Bank was "perhaps the most confusing point of all" in the rule. "Only merchants who do not accept cards or are dissatisfied with the cost of cards would see this as a major benefit. This is not a central consumer pain point."