BB&T Reinvesting Cost Savings into Digital Upgrades

North Carolina based BB&T has been aggressively cutting branches and staff in the past year as they looking to become more digitally focused; the bank is using two-thirds of the cost savings to fund digital projects; “Our people are doing a really good job reconceptualizing their business,” Kelly King, BB&T’s chairman and CEO, said on a conference call according to American Banker. “It’s a whole new day and a new approach at BB&T.”; the bank is calling the restructuring Disrupt to Thrive and they plan on about $100mn more in changes for 2019; some of the new projects include a new general ledger, a new commercial loan system and a new data center. Source.

  • Todd Anderson

    Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.