February 25, 2016
We don’t often talk about failures as success stories shine brighter. However, we have recently discovered some interesting data on the banking industry that indicated worrying for banks’ statistics. The FDIC keeps track of registered and operating banks and also has data on failed ones. Not to be too dramatic – we've included banks both closed and those acquired and consolidated as part of the failed ones.
According to the FDIC, in the past 15 years, more than 500 banks operating in the US have failed. While FinTech seems to be a big enough headache for bankers, this number will certainly be a contribution.