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What is the largest bank in the us


what is the largest bank in the us

These are the 5 largest banks in America · 5. Goldman Sachs Group Inc. · 4. Wells Fargo & Co. · 3. Citigroup Inc. · 2. Bank of America · 1. JPMorgan. As you can see in the chart, JPMorgan Chase is the largest of the big U.S. banks by market cap. Collectively, JPMorgan Chase, Bank of America. Our annual Bank Atlas, produced in conjunction with Fitch IBCA, shows the impact of bank consolidation. Bank of America is now the world's.
what is the largest bank in the us

: What is the largest bank in the us

What is the largest bank in the us
What is the largest bank in the us
What is the largest bank in the us
What is the largest bank in the us

What is the largest bank in the us -

Here is a list of the largest banks in the United States by assets in

  • JPMorgan Chase is the top largest bank in the US, with a balance sheet total of $ trillion.
  • Insider Intelligence broke down the top 10 banks in the US by assets, with key insights as to how they got there, where they plan to go in the future, and how smaller banks can compete in the industry. 
  • Do you work in the Financial Services industry? Get business insights on the latest industry trends, companies, and technologies with data-driven market research & forecasts.

The Federal Reserve has rolled out a list of top US banks by assets, and we’ve broken down exactly how these financial service giants manage to stay ahead of the competition. For decades, banks have been merging, partnering, and expanding—so much so that the top four banks now account for 50% of all US banking assets.

What else do the top four have in common? In addition to having more than a trillion dollars in consolidated domestic assets, JPMorgan Chase, Bank of America, Wells Fargo, and Citigroup each invested big on technology. With COVID has accelerating demand for efficient mobile banking apps and payment systems, the banks hastened tech spending to compete with neobanks and other fintechs. The incumbents’ shift towards digital strategy could give them the edge in appeasing customers at all levels of tech comfort, from traditional to early adopters. Here, they prove that the shift is no longer complementary, but crucial. 

These  are the top 10 banks in the US by assets, with key insights as to how they got there, where they plan to go in the future, and how smaller banks can compete in the industry. 

1. JPMorgan Chase – $ Trillion

By targeting digitally-savvy consumers and introducing artificial intelligence to its offerings, JPMorgan Chase has been able to outperform its competitors. JPMorgan is playing the long-game by acquiring millennials through digital channels—and hopes to convert them to higher-value customers later on.

Additionally, JPMorgan is investing heavily in banking technology, and boasts the biggest tech budget of all banks in with $ billion. A key focus of these funds is identifying use cases to implement artificial intelligence, such as enabling investment banking clients to access analyst reports and stock exchange information through voice assistants. In fact, Chase’s digital leads are even looking outside the financial industry to stay ahead. “We’re watching Big Tech,” says Allison Beer, the company’s chief product officer, head of customer experience and digital. “It may be totally unrelated to financial services.”

Chase's mobile banking strategy is key to its growth as a top US bank. - Insider Intelligence

2. Bank of America – $ Trillion

Bank of America has been able to cut costs and appeal to young users by adapting strategies for the digital age. The bank’s digitized branches–which allow customers to access contactless ATMs and connect with call centers via video-conference technology–experienced half the traffic of nearby branches only five months after launching in  

Since officially launching in , Erica has surpassed a massive 7 million users per year. - Android Community

Bank of America’s digital-only services have also re-defined what the company offers its customers. Its voice-enabled assistant, Erica, provides customers the ability to conduct peer-to-peer payments as well as bill payments. Since officially launching in , Erica has surpassed 15 million users. Digital payments network Zelle allows users to digitally send real-time payments to friends and family. By integrating this feature into its mobile app, Bank of America has opened the door for increased consumer mynewextsetup.us the new financial service products to launch this year, Bank of America released a business-to-consumer (B2C) payout solution that gives users greater flexibility with payments; a new credit card meant for business travellers; and a new cash rewards credit card tied to a rewards program. 

Like what you’re reading? Click here to learn more about Insider Intelligence’s leading Financial Services research.

3. Wells Fargo & Co. – $ Trillion

Wells Fargo is following the lead of top competitors by targeting millennials through mobile financial services. Pay with Wells Fargo is a mobile service where users can access their most used payment features before signing into the app. Additionally, Wells Fargo’s app Greenhouse helps customers simplify their bills and track spending. 

Over the last year, Wells Fargo has been optimizing its business to focus on sectors with strong revenue-generating potential, like credit cards. Going up against its competitors, Wells Fargo announced a new suite of Visa credit cards, representing a direct challenge to a joint card from PayPal, and Synchrony Financial, along with Citigroup’s Double Cash, per mynewextsetup.usg the contactless payment market has also bolstered Wells Fargo’s position as a leading bank—especially amid the pandemic. With 78% of the top US merchants accepting contactless transactions, providing contactless credit and debit cards helps attract users who prefer digital banking methods—and according to Insider Intelligence, 44% of US consumers prefer contactless payments.

4. Citigroup – $ Trillion

For four years in a row, Citibank has been named the “Best Bank for High-Net-Worth Families” by Kiplinger’s Personal Finance. For customers that maintain $, in deposit, retirement, and investment accounts, the bank grants them access to its Citigold Package.

Insider Intelligence’s Mobile Banking Competitive Edge Study also shows that Citi took the top spot for digital money management tools, as rated by consumers. By providing five of the category’s seven in-platform features, including the ability to view recurring charges and see a financial wellness score, Citi has secured its spot as one of the best banks in US.

As for the future of growth, it’s all about ensuring “that every product we deliver at Citi is digital first,” says Michael Naggar, chief digital officer of Citibank’s US consumer bank. “Today, digital means taking transactions out of the call center and branch and digitizing them. But our goal is connecting analog and digital so that people can’t see where one ends and the other begins.” 

Now, due to rising interest from its customers, Citigroup is looking into launching crypto services, such as financing, trading, and custody. 

5. U.S. Bancorp – $ Billion

U.S. Bancorp, the parent company of U.S. Bank National Association, earned a spot on the list of top US banks due to its commitment to competing with tech giants making their way into the banking industry.  

With Facebook, Amazon, Apple, and Google all announcing their desire to launch financial services, U.S. Bancorp decided to improve its own technology. Terry Dolan, the company’s chief financial officer, said that the bank plans to partner with fintechs inorder to maintain competitive banking technology. 

6. Truist Financial Corporation – $ Billion

A newcomer to the top ten, Truist is the bank formed by Branch Banking and Trust Company (BB&T) and SunTrust at the end of According to the Federal Reserve’s figures, BB&T and SunTrust were ranked 11th and 12th in bank assets, respectively.

Now operating over 2, branches in 15 states and Washington, D.C., the combined bank offers consumer and commercial banking, asset management, securities brokerage, mortgage, and insurance products and financial services.

7. PNC Financial Services – $ Billion

PNC Bank is known as a top bank in the US because it offers specialized perks and services to customers while developing original products. In PNC began offering mobile payment options to corporate clients who hold Visa commercial cards—allowing them to leverage popular mobile wallets like Apple Pay.

Additionally, in PNC piloted credit cards with card verification values that periodically refresh, in the hopes of combating fraud. Fraudsters are able to guess three-digit CVV codes relatively easily due to the limited number of permutations; but periodically changing CVVs makes stolen data less valuable.

Most recently, PNC responded to the rise in digital banking by rolling out hybrid branches called solution centers—housing self-serve tools such as video teller machines, ATMs, and mobile workstations while in-person staff assist with more complex needs. The hybrid approach is a strong tactic that aligns well with consumer preferences. For example, a KPMG survey showed that once the pandemic eases, customers would be less likely to visit branches to manage accounts (6%) or check balances (8%).

8. TD Bank – $ Billion

In addition to having extensive influence abroad, TD Bank has become one of the largest banks in the US due to its integration of artificial intelligence and utilization of digital technology. 

“America’s most convenient bank”, as they tout,  partnered with KAI Consumer Banking to launch Clari, an AI-powered chatbot, in Canada. Clari answers customers’ questions via text message and notifies them when credit card payments are due or how much they spent at a certain store. Chatbots cut down on call volume, and Clari’s success in Canada will likely influence TD Bank to develop a chatbot for its US branches. 

In another partnership, the company teamed up with fintech provider Amount to leverage its digital lending technology, which comes with a suite of tools including fraud detection and account verification. 

9. Capital One – $ Billion

Capital One managed to make the list of top US banks, likely due to its ongoing commitment to digital transformation. Capital One increased its technology staff from 2, in to 9, in , helping launch Eno–its AI-powered chatbot, similar to Bank of America’s Erica. 

Despite its major data breach in mid, the bank also came first on our Banking Digital Trust Report, where it was the frontrunner on all six pillars of trust: security, privacy, reputation, reliability, ease of use, and feature breadth. Capital One’s high scores likely stemmed from its recent large-scale cloud migration, which has improved service continuity and facilitated upgrades, as well as reinforced security protocols that helped rebound customer perceptions. 

Capital One also acquired fintech United Income in , a digital platform that offers wealth management services for people moving into retirement. The fintech combines both technological capabilities with human facets, like providing access to a team of wealth managers—making it attractive for consumers who still desire human interaction. 

Bank of New York Mellon Corp. – $ Billion

Bank of New York Mellon, commonly known as BNY Mellon, is an investment banking services holding company and one of the oldest banking corporations in the United States. Formed from the merger of The Bank of New York and the Mellon Financial Corporation, BNY Mellon offers corporate and individual investment services, as well as private banking services for wealthy clients.

How can small banks compete?

Chime Co-founders Chris Britt and Ryan King - Chime

Neobanks secured a record $ billion globally. Chime, a San Francisco-based neobank, took about four years to reach one million users in It has since acquired over 4 million users—quadrupling its user base in just one year. The competition put forward by digital-only banks will eventually force traditional banking leaders to revamp their banking practices and offerings due to the increasing digital demands of consumers.

Источник: mynewextsetup.us

The World Bank In United States

Traditionally, the World Bank President has always been been a U.S. citizen nominated by the United States.

Governor

The U.S. Secretary of the Treasury is the United States' governor for the World Bank. The governor is responsible for the management of the United States’ interests in the institution, exercising influence by keeping an open line of communication with the president of the World Bank and meeting with fellow governors at the annual and spring meetings of the Board of Governors and of the Development Committee.

Executive Director

The governor delegates day-to-day handling of the United States' diverse interests at the Bank to the Executive Director for the United States, who is nominated by the President of the United States and confirmed by the U.S. Senate. As an official of the World Bank Group, the U.S. Executive Director has a duty to support the mission of the institution, as well as to represent the interests of the United States.  

The Board of Executive directors, who reside in Washington, D.C., meet regularly throughout the year (normally at least twice a week) to review and act on lending operations, new policy directions, and financial matters. In keeping with the World Bank Group’s access to information policy, the monthly Board Calendar is available to the public. 

The U.S. Executive Director represents the United States on the member Board of Directors of the World Bank Group. The Executive Director oversees the Bank’s governance and annual commitments of over $60 billion, $ billion for COVID response, as well as the implementation of the World Bank’s mission to end global poverty and promote broad-based economic growth.

The Executive Director is supported by an Alternate Executive Director and a team of advisors representing different U.S. government agencies including the U.S. Department of the Treasury, the U.S. Department of State, the U.S. Agency for International Development, and the U.S. Department of Commerce.

In order to deepen public understanding in the United States of the World Bank Group's work and to ensure that American concerns are reflected in the Bank Group's policy discussions, the Office of the U.S. Executive Director and the World Bank Group's Multilateral and International Affairs team meet regularly with nationally-based constituencies in the United States, including government officials, Members of Congress, and staff, as well as civil society organizations.

Shares and Voting Power

The World Bank Group has a weighted system of voting. All members of the Bank receive votes consisting of share votes (one vote for each share of the Bank's capital stock held by the member) plus basic votes (calculated so that the sum of all basic votes is equal to % of the sum of basic votes and share votes for all members). The voting power distribution differs from agency to agency within the World Bank Group.

For the latest voting status, please visit the Voting Powers page.

Last Updated: Dec 01,

Источник: mynewextsetup.us
 About 
Largest Banks In World

The biggest banks in the world have a major impact on the global financial system. These banks provide many services to corporations and individuals. 

But does bigger always mean better when it comes to banking? Here is a look at the world’s largest banks and the services they offer. 

In This Article

Biggest Banks in the World

If you want information about the largest banks from across the globe, look no further. In alphabetical order, these are the biggest banks worldwide. 

Note: The total assets data is from YCharts from September 8,

1. Agricultural Bank of China

The Agricultural Bank of China (AgBank) is one of the “Big Four” Chinese banks. It was originally launched as the Agricultural Cooperative Bank. 

AgBank’s corporate headquarters are located in Beijing. This bank has roughly $ trillion in assets and over million personal customers.

Several agro-related personal products are available through AgBank. 

Some of these products include:

  • Debit cards for farming households
  • Microfinance loans
  • Personal business loans
  • Home construction loans in earthquake-prone areas

There are also many personal and corporate accounts, such as:

  • Chinese yuan renminbi deposit accounts
  • Foreign currency deposit accounts
  • Credit cards
  • Loans
  • Wealth management
  • Private banking

The bank has about 23, branches throughout China. These serve both corporate and retail customers.

There are several international locations as well, including: 

  • New York
  • Vancouver
  • São Paulo
  • London
  • Sydney
  • Dubai
  • Seoul
  • Singapore

And more. Its overseas branches are in the major financial hubs across the world. 

Best known for: Agro-related products and international currency accounts

Pros

  • Offers special products to farmers
  • International currency accounts

Cons

  • Most branches are in China
  • Overseas branches are only in major financial hubs

2. Bank of America

Bank of America has roughly $3 trillion in assets. It has branches across the U.S. and in more than 30 other countries. 

With headquarters in Charlotte, North Carolina, Bank of America is the second-largest bank in the United States.

You may prefer this institution if you want an online bank that likely has a local branch near you.

Deposit accounts and loans are available for businesses and individuals. 

Some of the personal accounts available include:

  • Checking accounts
  • Savings accounts
  • Credit cards
  • Home loans
  • Auto loans

This bank does have higher fees than other banks in the United States charge. However, the Bank of America Preferred Rewards program offers several perks to customers with qualifying account balances. 

Some of the Preferred Rewards benefits include:

  • Savings account rate boosts
  • Interest rate discounts on loans
  • Fee waivers on banking services
  • Free ATM withdrawals

Additionally, Bank of America acquired Merrill Lynch, a legendary investment firm. Clients with a high net worth can enjoy wealth management services through Merrill or Bank of America Private Bank.

Best known for: Worldwide physical branches and loyalty rewards

Pros

  • Nationwide presence
  • Many personal and business options
  • Investing and wealth management services

Cons

  • Entry-level accounts can have high fees
  • Not every U.S. state has a physical branch

3. Bank of China

Bank of China (BOC) has around $ trillion in total assets, making it the fourth-largest bank in the world. 

This bank was China’s central bank for domestic and international transactions for almost 40 years. 

With locations in over 60 countries, BOC continues to be a pivotal player on the world stage. 

The personal accounts offered include:

  • Checking
  • Savings
  • Money market
  • Certificate of deposit
  • International student accounts (for Chinese students in the New York area)

Local branches also offer foreign currency exchange and remittances.

There are also four commodity business centers:

  • New York
  • London
  • Shanghai
  • Singapore

Most of the banking services are for corporations conducting international business. Business deposit accounts and loans are also available. 

Best known for: International business accounts and commodity trading

Pros

  • Personal and business accounts for international customers
  • Cross-border RMB (renminbi) services
  • Commodity trading centers across the globe

Cons

  • Most branches are in China

4. BNP Paribas

French superbank BNP Paribas offers personal and business banking. It has about $ trillion in total assets. 

The current bank is a formation of two historic French banks, BNP and Paribas. Its corporate headquarters are in Paris.

The institution has a banking presence in over 71 countries through 7, branches. BNP Paribas also has locations in North America.

Corporate and institutional banking branches are in these North American cities:

  • New York City/Jersey City
  • Boston
  • King of Prussia
  • Chicago
  • Dallas
  • Houston
  • Los Angeles
  • San Francisco
  • Montreal
  • Toronto

Some of the business services include:

  • Capital markets (i.e., stock market and bond market)
  • Securities
  • Financing
  • Treasury
  • Advisory 

Despite being an international bank, Americans can use BNP Paribas for personal banking and wealth management through its Bank of the West subsidiary.

There are currently Bank of the West branches in 25 states.

Personal banking services include:

  • Checking accounts
  • Savings accounts
  • CDs
  • Loans
  • Credit cards

Bank of the West offers a free checking account that can be a good option if you also want local branch access.

The company even offers self-directed and managed investment accounts. These accounts provide commission-free stock and ETF trades. However, product availability may vary by location.

Best known for: European banking and Bank of the West U.S.-based personal accounts

Pros

  • Presence in 70+ countries
  • U.S. retail banking with Bank of the West
  • Many corporate financial services

Cons

  • Bank of the West is only in 25 states
  • Limited personal accounts for international customers

5. China Construction Bank Corporation

China Construction Bank (CCB) is the world’s second-largest bank and has $ trillion in total assets. CCB headquarters are located in Beijing.

Three of the bank’s main missions are:

  • House rentals
  • Inclusive financing for small and micro businesses
  • FinTech (i.e., computer vision, natural language processing, etc.)

Most of the CCB’s business is within China and its 14,+ local branches. 

CCB primarily operates in these regions:

  • Yangtze River Delta
  • Pearl River Delta
  • Bohai Rim

The bank is also working on expanding banking services to inland China where there is less wealth. Its fintech mission can make rural bank access more accessible.

A recent operating report mentions poverty relief for its retail customers and carbon-friendly practices for business clients as two important priorities to strengthen the Chinese economy.

The bank finances many infrastructure projects across China. International banking and financing services are available.

Businesses can also use the CCB Match Plus service to find potential business deals with other firms in China and the world. There are multiple offers to distribute merchandise for dropshipping companies. 

Best known for: Financing infrastructure payments and cross-border merchandise partnerships

Pros

  • Several personal and business initiatives
  • Carbon neutralization strategy
  • Online business matching service

Cons

  • Mostly serves Chinese individuals and businesses
  • Minimal retail international banking

6. HSBC Holdings PLC

HSBC (Hongkong and Shanghai Banking Corporation) was launched to finance trade deals between Europe and Asia. Its headquarters are in London, and it has $ trillion in total assets.

Today, the bank has a presence in over 60 countries, including the United States.

These banking services are available:

International bank accounts are available for:

  • International students
  • People who are buying a house in the United States
  • Immigrants moving to the United States

One account people with travel jobs may consider is an HSBC Global Money Account. This multi-currency account holds up to eight currencies and can send money overseas.

Some banking services are country-specific. You can view your available service by entering your country of residence.

United States personal banking customers can access these services:

  • Checking
  • Savings
  • CDs
  • Credit cards
  • Home loans
  • Personal loans
  • Investing
  • Insurance

The United States HSBC offers online checking account bonuses. These are a popular way to earn cash rewards for signing up. Keep in mind that you must the deposit requirements to qualify. 

Local branch access is available in the United States. However, most locations are in a handful of cities. 

Most HSBC USA branches are in these metro areas: 

  • New York City
  • Philadelphia
  • Washington, D.C.
  • Miami
  • Los Angeles
  • San Francisco

Online banking is also a good option if you want a bank with international capabilities.

Best known for: Multi-currency bank accounts and banking rewards for high net worth customers

Pros

  • Serves over 60 countries
  • Multi-currency personal banking account
  • Personal and business banking

Cons

  • Minimal physical branches in the U.S.
  • Potentially high fees

7. Industrial and Commercial Bank of China

The Industrial and Commercial Bank of China (ICBC) is currently the world’s largest bank. 

ICBC China currently has $ trillion in total assets. Its corporate headquarters are in Beijing.

The rapid growth of this bank reflects China’s recent economic growth. As China’s biggest investment bank, ICBC finances many of the national projects. 

Some of the bank’s most popular industries include:

  • Energy
  • Manufacturing
  • Transportation

ICBC supports major corporations, micro-businesses and personal accounts.

Personal banking products for its million retail customers include:

  • Deposit accounts
  • CDs
  • Investment accounts
  • Wealth management
  • Private banking
  • Gold bullion
  • International currency exchange

Most of the branches are in China, but there are several overseas branches. 

The United States branches are available in these locations:

  • New York City
  • Los Angeles
  • San Francisco
  • Seattle
  • Houston

Personal and business accounts are offered at these branches. You can even open a Global Banking Package account to get free ATM access worldwide.

Best known for: Investment banking presence in China

Pros

  • World’s largest bank
  • Offers personal and business services in the U.S.
  • Global banking package

Cons

  • Primarily serves China
  • Few branches in the United States

8. J.P. Morgan Chase

J.P. Morgan Chase is the largest United States bank and has $ trillion in total assets. Its corporate headquarters are in Manhattan.

Customers with a high net worth may use J.P. Morgan for its wealth management services. The institution is also popular for its investment research services and commercial banking.

Commercial banking is available in over countries. 

Most individuals and businesses interact with this company if they have a Chase Bank account. Chase has physical branches in most states for personal banking and business banking.

One of the best personal accounts is the Sapphire Banking accounts. This account lets you avoid fees and enjoy some international banking perks.

Unfortunately, this bank doesn’t offer online-only bank accounts if you don’t live near a branch. 

Best known for: Investment research, commercial finance and Chase Bank retail locations

Pros

  • Banking and investing services
  • Many local branches in the United States

Cons

  • May need to live near a local branch

9. Mitsubishi UFJ Financial Group

The Mitsubishi UFJ Financial Group has headquarters in Osaka and serves over 50 countries and regions. Its total assets are roughly $ trillion.

This bank officially launched after the merging of Mitsubishi and United Financial of Japan. The bank is the financial arm of the Mitsubishi Corporation and Mitsubishi Heavy Industries that produce physical goods.

Most of the banking services are for corporations that need domestic or international services.

Some of the business banking offerings include:

  • Cross-border loans
  • Commodity financing
  • Infrastructure financing
  • Real estate
  • Ship financing
  • Trade securities
  • Forex
  • Derivatives

And more. Personal banking services are available for residents of Japan.

Best known for: Cross-border loans and doing business in Japan

Pros

  • Locations in over 50 countries
  • Cross-border trade support
  • Many commercial banking services

Cons

  • Personal banking for residents of Japan only

Wells Fargo

Wells Fargo has $ trillion in total assets, making it the third-largest bank in the United States. Its corporate headquarters are in San Francisco.

The institution offers personal, small business and corporate banking solutions. 

While this bank’s origins date back over years, it is currently restoring its reputation. Recent scandals of falsely opening accounts for retail customers have been an issue for the bank.

As the company rebuilds, several personal banking features are temporarily unavailable. However, the bank has high marks for its mortgage servicing. 

Wells Fargo has 4, physical branches in 36 states. International offices are open in several countries in Europe, Asia and the Americas.

Best known for: Physical branches in the United States and home loans

Pros

  • Personal and business banking
  • International banking presence
  • Approximately 4, physical branches

Cons

  • Recent personal banking scandals
  • No local branches in 16 states

Summary

Many of the world’s largest banks can be an excellent option if you need a bank account with international features. 

These banks also offer personal banking services that can be useful if you live near a physical branch. Whether you need a checking account, savings account or something else, these banks likely have options for you.

Categories Banking

Author

Josh Patoka

Josh is a personal finance writer with his prior professional experience as a transportation operations supervisor for an S&P company.

He paid off $80, in consumer debt and uses his experience of getting out of debt and changing careers to write about many personal finance topics including making money, saving money and investing.

He has been featured in the US News and World Report, Student Loan Hero, and more.

Источник: mynewextsetup.us

List of largest banks in the United States

Rank Bank name Headquarters location Total assets
(billions of US$)[2][3][4]Market capitalization
(billions of US$)[5]1 JPMorgan ChaseNew York City, New York$3, $ 2 Bank of AmericaCharlotte, North Carolina$3, $ 3 CitigroupNew York City, New York$2, $ 4 Wells FargoSan Francisco, California$1, $ 5 Goldman SachsNew York City, New York$1, $ 6 Morgan StanleyNew York City, New York$1, $ 7 Charles Schwab CorporationWestlake, Texas$ $ 8 U.S. BancorpMinneapolis, Minnesota$ $ 9 PNC Financial ServicesPittsburgh, Pennsylvania$ $ 10 Truist FinancialCharlotte, North Carolina$ $ 11 TD Bank, N.A.Cherry Hill, New Jersey$ $ 12 The Bank of New York MellonNew York City, New York$ $ 13 Capital OneMcLean, Virginia$ $ 14 TIAANew York City, New York$ N/A 15 State Street CorporationBoston, Massachusetts$ $ 16 HSBC Bank USANew York City, New York$ N/A 17 Fifth Third BankCincinnati, Ohio$ $ 18 USAASan Antonio, Texas$ N/A 19 State FarmBloomington, Illinois$ N/A 20 American ExpressNew York City, New York$ $ 21 BMO Harris BankChicago, Illinois$ N/A 22 Citizens Financial GroupProvidence, Rhode Island$ $ 23 Ally FinancialDetroit, Michigan$ $ 24 KeyCorpNiagara Falls, New York$ $ 25 UBSNew York City, New York$ $ 26 BNP Paribas / Bank of the WestSan Francisco, California$ 27 Northern TrustChicago, Illinois$ $ 28 MUFG Union BankNew York City, New York$ N/A 29 AmeripriseMinneapolis, Minnesota$ $ 30 BarclaysNew York City, New York$ N/A 31 RBC BankToronto, Ontario$ N/A 32 Santander BankBoston, Massachusetts$ N/A 33 Regions Financial CorporationBirmingham, Alabama$ $ 34 M&T BankBuffalo, New York$ $ 35 Huntington BancsharesColumbus, Ohio$ N/A 36 Credit SuisseNew York City, New York$ N/A 37 SVB Financial GroupSanta Clara, California$ $ 38 Discover FinancialRiverwoods, Illinois$ $ 39 Deutsche BankNew York City, New York$ N/A 40 Synchrony FinancialStamford, Connecticut$95 $ City National BankLos Angeles, CA$90 N/A 41 ComericaDallas, Texas$88 $ 42 First Horizon National CorporationMemphis, Tennessee$84 $ 43 Popular, Inc.San Juan, Puerto Rico$65 $ 44 People's United FinancialBridgeport, Connecticut$63 $ 45 CIT GroupNew York City, New York$58 $ 46 CIBC Bank USAChicago, Illinois$ N/A 47 New York Community BankWestbury, New York$ $ 48 SynovusColumbus, Georgia$54 $ 49 Raymond James FinancialSt. Petersburg, Florida$53 $ 50 East West BankPasadena, California$52 $ 51 First Citizens BancSharesRaleigh, North Carolina$49 $ 52 BOK Financial CorporationTulsa, Oklahoma$46 $ 53 Mizuho Financial GroupNew York City, New York$ N/A 54 Wintrust FinancialRosemont, Illinois$ $ 55 Cullen/Frost Bankers, Inc.San Antonio, Texas$42 N/A 56 Valley National BankWayne, New Jersey$ $ 57 John Deere Capital CorporationReno, Nevada$ $ 58 South State BankWinter Haven, Florida$ $ 59 Texas Capital BankDallas, Texas$ $ 60 FNB CorporationPittsburgh, Pennsylvania$37 $ 61 Western Alliance BankPhoenix, Arizona$36 $ 62 BankUnitedMiami Lakes, Florida$35 $ 63 Pinnacle Financial PartnersNashville, Tennessee$ $ 64 Prosperity BancsharesHouston, Texas$ $ 65 Hancock WhitneyGulfport, Mississippi$ $ 66 Associated Banc-CorpGreen Bay, Wisconsin$ $ 67 UMB Financial CorporationKansas City, Missouri$ $ 68 Commerce BancsharesKansas City, Missouri$ $ 69 Webster BankWaterbury, Connecticut$ $ 70 Flagstar BankTroy, Michigan$31 $ 71 Sterling BancorpMontebello, New York$ $ 72 MidFirst BankOklahoma City, Oklahoma$ $ 73 PacWest BancorpLos Angeles, California$ $ 74 Umpqua Holdings CorporationPortland, Oregon$ $ 75 StifelSt. Louis, Missouri$ $ 76 United Bank (West Virginia)Charleston, West Virginia$ $ 77 Investors BankShort Hills, New Jersey$ $ 78 Fulton Financial CorporationLancaster, Pennsylvania$ $ 79 First National of NebraskaOmaha, Nebraska$ N/A 80 FirstBank Holding CoLakewood, Colorado$ N/A 81 Arvest BankBentonville, Arkansas$ N/A 82 Old National BankEvansville, Indiana$ $ 83 First Hawaiian BankHonolulu, Hawaii$ $ 84 Simmons BankPine Bluff, Arkansas$ $ 85 SMBC Americas Holdings Inc.New York City$ 86 First Midwest BankChicago, Illinois$ $ 87 Bank of HawaiiHonolulu, Hawaii$ $ 88 Ameris BancorpAtlanta, Georgia$ 89 Pacific Premier Bancorp Inc. Irvine, California$ 90 Atlantic Union BankRichmond, Virginia$ N/A 91 Macy'sNew York City, New York$ $ 92 EB Acquisition Company LLCDallas, Texas$ 93 EB Acquisition Company II LLCDallas, Texas$ 94 Washington FederalSeattle, Washington$ $ 95 Cathay BankLos Angeles, California$ $ 96 First BanCorpSan Juan, Puerto Rico$ $ 97 Cadence BankAtlanta, Georgia$ N/A 98 BCI Financial Group, Inc.Miami, Florida$ 99 Glacier Bancorp, Inc Kalispell, Montana$ Customers Bancorp, Inc. Wyomissing, Pennsylvania$
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Here is a list of the largest banks in the United States by assets (JPM, BAC, C, WFC, GS, MS, USB, PNC, TD, COF)

Business Insider Intelligence is launching its brand new Banking coverage in early September. To obtain a free preview of our Banking Briefing, please click here. The Federal Reserve has rolled out a list of top US banks by assets, and we've broken down exactly how these banking giants manage to stay ahead of the competition. For decades banks have been merging, partnering, and expanding — so much so that the top four banks now account for 50% of all US banking assets. Major US Banks' Branches

Here are the top 10 banks in the US by assets, with key insights as to how they got there, where they plan to go in the future, and how smaller banks can compete in the industry. 

1. JPMorgan Chase - $ Trillion

By targeting digitally-savvy consumers and introducing artificial intelligence to its offerings, JPMorgan Chase has been able to outperform its competitors. JPMorgan is playing the long-game by acquiring millennials through digital channels — and hopes to convert them to higher-value customers later on.

Additionally, JPMorgan is investing heavily in banking technology, and boasts the biggest tech budget of all banks in with $ billion. A key focus of these funds is identifying use cases to implement artificial intelligence, such as enabling investment banking clients to access analyst reports and stock information through voice assistants.

2. Bank of America - $ Trillion

Bank of America has been able to cut costs and appeal to young users by adapting strategies for the digital age. The bank's digitized branches – which allow customers to access contactless ATMs and connect with call centers via video-conference technology – experienced half the traffic of nearby branches only five months after launching in  

Bank of America's digital-only services Zelle and Erica have also re-defined what the company offers its retail banking customers. Zelle allows users to digitally send real-time payments to friends and family, and by integrating this feature into its mobile app, Bank of America has opened the door for increased consumer engagement. Bank of America Erica appAndroid Community

Bank of America has also seen success with its voice-enabled assistant, Erica, which provides customers the ability to conduct peer-to-peer payments as well as bill payments. Since officially launching in , Erica has surpassed a massive 7 million users per year.

3. Citigroup - $ Trillion

For three years in a row, Citibank has been named the "Best Bank for High-Net-Worth Families" by Kiplinger's Personal Finance. For customers that maintain $, in deposit, retirement, and investment accounts, the bank grants them access to its Citigold Package. 

Business Insider Intelligence's Mobile Banking Competitive Edge Study also shows that Citi took the top spot for mobile banking features, as rated by consumers. Citi saw a massive increase in digital banking users in – up % year-over-year – and its mobile users grew twice as fast at % YoY. This growth, combined with the company's electronic client statements surging to 50%, demonstrates that Citi has secured its spot as one of the best banks in US.

4. Wells Fargo & Co. - $ Trillion

Wells Fargo is following the lead of top competitors by targeting millennials through mobile banking services. Pay with Wells Fargo is a mobile service where users can access their most used payment features before signing into the app. Additionally, Wells Fargo's app Greenhouse helps customers simplify their bills and track spending. 

Joining the contactless payment market has also bolstered Wells Fargo's position as a leading bank. With 78% of the top US merchants accepting contactless transactions, providing contactless credit and debit cards helps attract users who prefer digital banking methods — and according to Business Insider Intelligence, 44% of US consumers prefer contactless payments.

5. Goldman Sachs -  $ Billion

Since launching Marcus, an online bank that offers customers fixed-rate, fee-free unsecured loans and high-yield savings accounts, Goldman Sachs has become one of the largest banks in the US. The banking giant has made several acquisitions for Marcus, including personal finance management app Clarity Money. Apple Card Goldman SachsHollis Johnson/Business Insider

Clarity Money was an early step Goldman took to breaking into the digital-only banking industry, and allows users to open a Marcus savings account directly through their mobile device.

The firm also partnered with Apple to develop their co-brand Apple Card – giving users who have an associated iPhone access to rewards, money management features, and the ability to choose either a digital or physical card.

Acquiring and investing in startups and other businesses, combined with the decision to explore new ways to integrate technology with existing banking services, has allowed Goldman Sachs to become one of the largest banks in the US.

6. Morgan Stanley -  $ Billion

After acquiring Solium Capital, a global provider of Software-as-a-Service for stock administration, financial reporting, and compliance, Morgan Stanley gained access to new technology and millennial employees who propelled the company into the digital banking market. 

By , it is projected that millenials in North America will control $20 trillion of global assets, and Morgan Stanley is looking at Solium's young clients as its future affluent customers. 

Additionally, Morgan Stanley partnered with Box,a cloud content management service, to launch a "Digital Vault," an encrypted, cloud-based platform that allows Morgan Stanley's wealth management clients to easily share financial documents. The firm's wealth management business already contributes 44% of its revenue, and the "Digital Vault" is expected to accelerate this segment even further. 

7. U.S. Bancorp -  $ Billion

U.S. Bancorp, the parent company of U.S. Bank National Association, earned a spot on the list of top US banks due to its commitment to competing with tech giants making their way into the banking industry.  

With Facebook, Amazon, Apple, and Google all announcing their desire to launch banking services, U.S. Bancorp decided to improve its own technology. According to Business Insider Intelligence, Terry Dolan –chief financial officer of U.S. Bancorp – said that the bank plans to partner with fintechs inorder to maintain competitive banking technology. 

8. PNC Financial Services -  $ Billion

PNC Bank is known as a top bank in the US because it offers specialized perks and services to customers while developing original products. In PNC began offering mobile payment options to corporate clients who hold Visa commercial cards — allowing them to leverage popular mobile wallets like Apple Pay.PNC BankWikipedia Commons

Additionally, in PNC piloted credit cards with card verification values that periodically refresh, in the hopes of combating fraud. Fraudsters are able to guess three-digit CVV codes relatively easily due to the limited number of permutations; but periodically changing CVVs makes stolen data less valuable. 

9. TD Bank -  $ Billion

In addition to having extensive influence abroad, TD Bank has become one of the largest banks in the US due to its integration of artificial intelligence and utilization of digital technology. 

TD Bank partnered with to launch Clari, an AI-powered chatbot, in Canada. Clari answers customers' questions via text message and notifies them when credit card payments are due or how much they spent at a certain store. Chatbots cut down on call volume, and Clari's success in Canada will likely influence TD Bank to develop a chatbot for its US branches. 

In another partnership, TD Bank teamed up with fintech provider Amount to leverage its digital lending technology, which comes with a suite of tools including fraud detection and account verification. 

Capital One -  $ Billion

Despite its recent data breach, Capital One still managed to make the list of top US banks, likely due to its ongoing commitment to digital transformation.

Capital One increased its technology staff from 2, in to 9, in , launched Eno – its AI-powered chatbot, similar to Bank of America's Erica – and is in the midst of a multi-year migration of its back-end software development tools to the cloud. 

Capital One also acquired fintech United Income in , a digital platform that offers wealth management services for people moving into retirement. The fintech combines both technological capabilities with human facets, like providing access to a team of wealth managers — making it attractive for consumers who still desire human interaction. 

Breaking into the digital banking industry is key for smaller firms looking to become major US banks. Neobanks – digital-only banks that aren't tied to traditional banking technology or expensive physical branches – are gaining steam in the US and secured a record $ billion globally in funding for the first half of ChimeChime

Chime, a San Francisco-based neobank, took about four years to reach one million users in It has since acquired over 4 million users — quadrupling its user base in just one year. The competition put forward by digital-only banks will eventually force traditional banking leaders to revamp their banking practices and offerings due to the increasing digital demands of consumers.

The banking industry is constantly undergoing change in the digital age, and it's important for its biggest decision-makers to stay informed of how the leading US banks continue to garner success.

That's why Business Insider Intelligence is launching Banking, our newest coverage area, to keep you up to date on strategies and tactics  of the largest banks in the US.

Click here to obtain an exclusive FREE preview of Banking!

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