Us banks how many

Sign up for the eMarketer Daily Newsletter. 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. 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. 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. 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.

Bank of America has been able to cut costs and appeal to young users by adapting strategies for the digital age. 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 engagement.

Among 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.

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.

Over the last year, Wells Fargo has been optimizing its business to focus on sectors with strong revenue-generating potential, like credit cards. Citibank has about branches in the U. Bancorp is the bank holding company and parent company of U. Multiple mergers led to the formation of the bank known today for its extensive branch network and investment in improving its digital offerings.

Truist provides financial services to about 10 million consumer households. It was founded as Pittsburgh Trust and Savings Co. Today, the bank has around 2, branches. Once assets are combined PNC Bank is projected to be a top-five bank based on assets.

TD Bank is the U. Customers have access to mortgages, deposit accounts, credit cards and products for commercial and small business clients. The bank has about 1, branches along the East Coast. Today, Bank of New York Mellon is an investment company that serves different corporations and institutions as well as individual investors. Private banking services are available for its wealthy clients. In addition to branches on the East Coast and in Texas and Louisiana, bank customers in select cities have access to Capital One Cafes, coffee shops with free Wi-Fi where visitors can open accounts and attend financial workshops.

Goldman Sachs is a global investment banking, management and securities firm. Its clients have access to a variety of financial services, including banking products through Marcus, its online banking arm that made its debut in fall and began offering personal loans.

Founded in , State Street Corp. Services include investment research and trading and investment management. Its clients include asset owners, insurance companies and pension funds, among others. HSBC has branches in major U. The transaction is expected to close in the first quarter of Citizens has about 1, branches in 11 states in the New England, mid-Atlantic and Midwest.

It also has about 3, ATMs. It is headquartered in Providence, Rhode Island. Photo by Adobe Stock, Illustration by Bankrate. How We Make Money. Matthew Goldberg. Written by. Matthew Goldberg is a consumer banking reporter at Bankrate. Matthew has been in financial services for more than a decade, in banking and insurance. Edited By David Schepp. Learn more: Citibank review. Bank offers thousands of ATMs and about half as many branches as the top three banks on this list.

Branches: About 2, in 26 states, with high concentrations in California, Illinois and Ohio. Learn more: U. Bank review. Bank and Wells Fargo compare? Learn their differences in our Wells Fargo vs. Bank comparison. It offers the fourth-highest number of branches of any bank on this list, with locations on the East Coast, in the Midwest and in the South. Branches: About 2, in 17 states and Washington, D. Learn more: PNC Bank review.

ATMs: ; the bank may reimburse out-of-network ATM fees for some accounts, depending on the balance. Branches: About 1, in 15 states and Washington, D. Learn more: TD Bank review. The Capital One network features the most ATMs of any banks on this list but relatively few branches. Some of the branches are Capital One cafes, where customers can attend free workshops and receive one-on-one financial coaching. Learn more: Capital One review.

Check out our review of Ally Bank vs. Capital One Learn more: Fifth Third Bank review. Savings, checking and loan customers will have their accounts transferred to either Citizens or Cathay by March Around 60 with Cathay Bank in nine states, primarily concentrated in California.

Learn more: Citizens Bank review. ATMs: 3, KeyBank offers the fifth-largest ATM network of the banks on this list, as well as branches in over a dozen states. Learn more: KeyBank review. Huntington National Bank has a fair number of branches, but its presence is mainly in the Midwest. Learn more: Huntington Bank review.

Ally is available online only, and is one of just two banks on this list without any branches. Customers can access their cash for free via the fourth-largest ATM network on this list.

Branches: 0. Learn more: Ally Bank review. Check out our comparison of PNC Bank vs. First Republic Bank offers the fewest branches of the brick-and-mortar banks on this list. Branches: 72 locations across 10 states; mostly in California. Read about FDIC insurance. BMO Harris offers services at just a few hundred branches but provides free access to thousands of ATMs via the fifth-largest network on this list tied with KeyBank.

Learn more: BMO Harris review. Regions Bank is mostly concentrated in a handful of Southern states.