FinAi News

No products in the cart.

Subscribe
  • News
  • AI News Tool
  • Data
  • Transactions
  • Events
    • FinAi Banking Summit
    • FinAi Lending Summit
  • Podcast
  • WEBINARS
    • Webinar Library
Log In
No Result
View All Result
  • Banking
  • Lending
  • Payments
  • Risk & Security
  • Strategy
FinAi News
  • News
  • AI News Tool
  • Data
  • Transactions
  • Events
    • FinAi Banking Summit
    • FinAi Lending Summit
  • Podcast
  • WEBINARS
    • Webinar Library
BAN PLUS
Log In
No Result
View All Result
FinAi News
No Result
View All Result

Ally reports strong deposit growth as it expands lending product suite

Suman BhattacharyyabySuman Bhattacharyya
January 24, 2020
in Banking, Payments, Strategy
Reading Time: 2 mins read
0
Share on Facebook

Ally Financial this week reported it’s continuing its winning streak in deposit growth.

In a third-quarter earnings report, the bank reported total deposits of $119.2 billion, up 18% year over year. Meanwhile, the bank’s customer retention rate stands at 96%, a level it characterized as “stable and strong.” Ally revealed that it has 1.94 million retail deposit customers, up 23% YoY.

“Our customers continue to demonstrate strong loyalty to Ally, reflecting our overall value proposition and the long-term stability of the platform,” said Jennifer LaClair, Ally’s chief financial officer.

Ally Financial

She added that the bank will continue to invest in brand and technology.

On the technology front, Ally said it will evolve its product offerings using the tools gained through Ally’s acquisition of lending technology company Health Credit Services (HCS), a transaction that closed last fall.

“The acquisition that we closed on in October is largely a purchase of the platforms, so that would be an organic expansion of that platform into new verticals,” LaClair said.

See also: No one-trick pony: How Ally got to $100B in deposits

Ally said it plans to rebrand the lending technology it acquired through HCS as “Ally Lending” and through it, expand into new verticals, including home-improvement and auto loans.

The company also plans to expand its point-of-sale loan offerings, a credit product that Chief Strategy Officer Dinesh Chopra recently told Bank Innovation offers the consumer complete transaction-level flexibility.

On the auto lending side, Ally reported it had met its origination goal amidst the “heightened competition” in auto, LaClair said. Ally’s fourth-quarter loan and lease originations declined 1.2% YoY to $8.1 billion.

The bank also highlighted its commitment to continue to grow digital customer experiences across all business lines.

“We are innovative across all of our businesses — I wouldn’t say just on the deposit side,” LaClair said. “In auto you can see a lot of the partnerships that we’ve created with some of the new entrants [and] what we’re offering through Better.com is an absolutely top-notch digital, end-to-end customer [mortgage lending] experience that has some of the highest NPS scores across the industry.”

Nicole Casperson of Auto Finance News contributed to this report.

Bank Innovation Ignite, which will take place March 2-3 in Seattle, is a must-attend industry event for professionals overseeing financial technologies, product experiences and services. This is an exclusive, invitation-only event for executives eager to learn about the latest innovations. Request your invitation

Tags: Ally BankAlly FinancialearningsPremiumSales & Marketing
Previous Post

Startups to take the stage at Bank Innovation Ignite

Next Post

Payfone partners with TransUnion to identify bank customers

Related Posts

Photo credit Mike Mozart: https://www.flickr.com/photos/39160147@N03/14742853276/
Banking

Charles Schwab launches 2 AI tools in Q2

July 21, 2026
Leveraging codeless architecture to improve successful merger integration
Strategy

COBOL modernization gets AI upgrade, but scale remains elusive

July 21, 2026
A Microsoft data center in Aldie, Virginia, US, on Tuesday, Oct. 28, 2025. Microsoft Corp. is scheduled to release earnings figures on October 29. Photographer: Lexi Critchett/Bloomberg
Strategy

Data centers on track to suck up a fifth of US power use by 2035

July 21, 2026
Next Post
Fingerprint scan (Photo credit: Flickr / CPOA)

Payfone partners with TransUnion to identify bank customers

EMERGING FINTECH DIRECTORY

Emerging Fintech Directory

The Buzz Podcast

SPONSORED

Build an Antifragile Strategy to Outperform the Market

July 14, 2026

How AI and Product Experts Turn Fuzzy Requirements Into Focused Dev-ready Roadmaps

April 19, 2026

Is Your Technology Supplier There for You?

April 1, 2026

  • About Us
  • Help Center
  • Contact Us
  • Privacy Terms
  • ADA Compliance
  • Advertise

 [wt_cli_manage_consent]

Connect

twitter linkedin podcast podcast podcast
© 2026 Royal Media
No Result
View All Result
  • NEWS
    • All News
    • Banking
    • Lending
    • Payments
    • Risk & Security
    • Strategy
  • AI News Tool [Beta]
  • DATA
  • TRANSACTIONS
  • EVENTS
    • FinAi Banking Summit
    • FinAi Lending Summit
  • PODCAST
  • WEBINARS
    • Webinar Library
  • SUBSCRIBE
  • Log In / Account

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Unlock This Article

Create your free FinAi News account to access this article and stay informed on how AI is transforming financial services including banking, lending, payments, and risk.

Yes, I'd like to receive FinAi News updates, breaking news, and exclusive AI insights for financial services leaders.

Continue Reading with FinAi News Premium - Less than $2/Day

Upgrade to FinAi News Premium for unlimited access to news, insights, trends, and intelligence on how AI is transforming financial services including banking, lending, payments, and risk.
Upgrade to FinAi News Premium Subscription
No Result
View All Result
  • NEWS
    • All News
    • Banking
    • Lending
    • Payments
    • Risk & Security
    • Strategy
  • AI News Tool [Beta]
  • DATA
  • TRANSACTIONS
  • EVENTS
    • FinAi Banking Summit
    • FinAi Lending Summit
  • PODCAST
  • WEBINARS
    • Webinar Library
  • SUBSCRIBE
  • Log In / Account