December 2019 | americanbanker.com BANKER OF THE YEAR Bruce Van Saun, Citizens Financial Group Community Banker of the Year Spence Mullis, Morris Bank 001_ABM_1219 1 11/12/19 11:36 AM 0C2_ABM1219 2 11/11/2019 4:42:15 PM Contents December 2019 | VOL. 129 | NO. 12 BEST IN BANKING 2019 Banker of the Year 12 Citizens Financial Group’s Bruce Van Saun Not that long ago Citizens Financial was struggling to remain relevant. Thanks to Van Saun and his management team — and a well- timed spinoff from Royal Bank of Scotland — the company is on the rise. 12 Community Banker Of the Year 18 Morris Bank’s Spence Mullis Mullis has thrived as a traditional community banker, leading the redevelopment of historic buildings in a small, struggling Georgia town and successfully growing Morris Bank in a 18 24 mostly rural market. Briefings requirement that lenders start collecting and 10 reporting data on small-business loans seems to Industry gets a cloud of its own 4 have plenty of industry support Bank of America and IBM teamed up to build a Jail time is no bar to employment public cloud specifically for banks JPMorgan Chase is broadening its efforts to 7 hire former prisoners for entry-level jobs and Digital first, but flexible 11 pushing for policy changes to help people with Citigroup’s deposit strategy has brought in A fintech’s college try criminal records re-enter the workforce billions of dollars from credit card customers A new feature Digit is adding to its savings app outside of its footprint, but branch openings are will help users pay down their student loan debt 6 still a possibility faster No credit history, no problem Immigrants typically have a hard time getting credit, but American Express has worked out a BankTechnology BackPorch solution that is the first of its kind 8 24 7 Putting their trust in AI Quotes from Ana Botin, Charlie Scharf, Mark Let there be ‘sunshine’ in small-biz First National Bank of Omaha and TCF National Zuckerberg, and more lending Bank in Detroit are among the traditional lenders For a measure that’s languished in bureaucrat- starting to use artificial intelligence for credit ic limbo for nine years, the Dodd-Frank Act’s decisions Cover art: Tim O’Brien americanbanker.com December 2019 American Banker 1 001_ABM_1219 1 11/11/19 3:31 PM Volume 129, No. 12 american banker.com Editor’s What’sView going on Executive Editor Bonnie McGeer Art Director Robin Henriquez Contributors Penny Crosman, Alan Kline, Andy Peters, @americanbanker.com Jon Prior, Kevin Wack Established 1836 One State Street Plaza, 27th floor, New York, NY 10004 Phone 212-803-8200 www.americanbanker.com Editor in Chief Rob Blackwell 571.403.3834 Managing Editor Dean Anason 770.621.9935 Executive Editor Bonnie McGeer 212.803.8430 Senior Editor Alan Kline 571.403.3846 Editor at Large Penny Crosman 212.803.8673 Washington Bureau Chief Joe Adler 571.403.3832 Technology Editor Suleman Din 212.803.8738 BankThink Editor Rachel Witkowski 571.403.3857 Community Banking Editor Paul Davis 336.852.9496 News Editor Andy Peters 404.500.5770 Contributing Editor Daniel Wolfe 212.803.8397 Digital Managing Editor Christopher Wood 212.803.8437 Copy Editor Neil Cassidy 212.803.8440 Reporters/Producers Laura Alix 860.836.5431 Kate Berry 562.434.5432 Jim Dobbs 605.310.7780 Neil Haggerty 571.403.3837 John Heltman 571.403.3847 Will Hernandez 212.803.8731 Hannah Lang 571.403.3855 Brendan Pedersen 571.403.3878 Jon Prior 214.629.5894 John Reosti 571.403.3864 Gary Siegel 212.803.1560 Jackie Stewart 571.403.3852 Kevin Wack 626.486.2341 Group Editorial Director, Banking/Capital Markets Richard Melville 212.803.8679 Executive Director, Content Operations and Creative Services MOST READ MOST SHARED Michael Chu 212.803.8313 Busy quarter for BB&T, SunTrust Nbkc's deposit relationships ADVERTISING • July 10: Deal approved by N.C. Commissioner of Banks Northeast Joust (gig economy): provides checking account for freelancers Brad Bava 212.803.8829 • July 24: CEOs appeared before key House committee Midwest/Southwest Truebill (bill tracker): provides savings accounts for users Shelly Schmeling 312.932.9392 • July 30: Shareholders approved deal West Tip Yourself (PFM): provides savings accounts for users Sara Culley 831.438.8408 • Sept. 5: Filled 75% of leadership posts Midatlantic/Southeast Digs (mortgage): savings app/account for first-time home buyers David Cleworth 843.640.3713 • September: 100 post-merger processes pass readiness test Senior Marketing Manager Source: The companies Source: nbkc bank Jamie Billington Group Director Custom Marketing Solutions Virginia Wiese 704.987.3224 Customer Service/Subscriptions Big deal’s closing may be delayed The war for online deposits is on [email protected] 212.803.8500 BB&T and SunTrust say they’re working Seemingly everyone — banks of all Licensing and Reuse of Content: Contact our official hard to complete their merger this sizes, wealth management firms, credit partner, Wright’s Media, for more information about available usages, license and reprint fees, and award seal year — including spending millions on unions and fintechs — is offering artwork at [email protected] or retention payments — but there’s no high-interest, digital-only savings and (877) 652-5295. 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American Banker is a registered trademark used herein under license. © 2019 SourceMedia, Incorporated and American Banker. All rights reserved. www.americanbanker.com. 2 American Banker December 2019 002_ABM1219 2 11/7/2019 1:32:35 PM FIFTH THIRD CORPORATE BANK FINANCIAL INSTITUTIONS WHERE EXPERIENCE AND INNOVATION INTERSECT. Joshua H. Landau SVP, Corporate Banking Group Head Financial Institutions Group Josh and the Financial Institutions Group experts at Fifth Third Corporate Bank do more than o er competitive capital solutions. They build personal relationships with clients and provide meaningful guidance through all economic cycles— resulting in a partnership that’s truly strategic, fl exible and e cient. This is banking a Fifth Third better.® 53.com/CorporateBank Member FDIC 003_ABM1219 3 11/11/2019 4:42:18 PM Briefings RECRUITING | FINANCIAL INCLUSION | SMALL BUSINESS | CONSUMER BANKING A second chance at JPMorgan Chase How the nation’s largest bank by assets plans to help people with criminal histories reenter the workforce By Jon Prior JPMorgan Chase is broadening its workers and making the economy released,” Dimon said in his 2018 letter. effort to help former prisoners. stronger. “Reducing recidivism is not only It is piloting a program in Chicago in About 10% of the employees important to returning citizens and their which it is teaming up with area JPMorgan hired last year had histories families — it can also have profound nonprofits to help train those with of minor crimes, including disorderly implications for public safety.” criminal backgrounds for entry-level conduct, drug possession and driving JPMorgan had previously removed jobs at the company. under the influence. They were put in the box asking applicants whether they It also has started a policy center entry-level positions processing had a criminal background, and the whose mission is to help people who transactions and servicing accounts new policy center will advocate for have been in jail reenter the workforce. and loans. federal and local governments to find In announcing the initiative, In a shareholder note last year, other ways to make hiring fairer for JPMorgan Chase Chairman and Dimon said that the company has a those who have been convicted of a Chief Executive Jamie Dimon said “responsibility” to hire former prisoners. crime. businesses need to do their part to “The overwhelming majority of The policy center is also advocating reduce recidivism — which will, in turn, Americans who are incarcerated return for changes to state and federal laws benefit them by bringing