The banks on this list have assets worth from several hundred to trillions of dollars.
Based on a report recently published by the US Federal Reserve (FED), Business Insider site offers a list of the 10 largest US banks by asset value:
10. Capital One - $373 billion
Despite the recent data breach, Capital One remains one of America's largest banks, thanks to its commitment to investing in digital technology. The bank's technology staff increased from 2,500 in 2011 to 9,000 in 2019. Capital One is actively applying new technologies such as artificial intelligence (AI) and cloud computing to its services. .
9. TD Bank - 384 billion USD
Not only present in many foreign markets, TD Bank also has a strong position in the US "home" market thanks to its active application of AI and modern digital technologies. For example, in the Canadian market, TD Bank uses an AI chatbot called Clari to respond to customers with text messages and notify customers about credit card payments...
8. PNC Financial Services - $392 billion
PNC Bank has many special offers and services for customers. In 2017, PNC began offering mobile payment options to business customers with commercial Visa cards, allowing them to take advantage of popular mobile wallets such as Apple Pay. In 2019, PNC is testing credit cards with a card verification code (CVV) that changes periodically to avoid fraud.
7. US Bancorp - $475 billion
US Bancorp has vowed to thwart tech giants like Facebook, Apple, and Google from trying to get into banking. To do this, US Bancorp has stepped up investment in technology through cooperation with financial technology (fintech) companies.
6. Morgan Stanley - $875 billion
Through the acquisition of Solium Capital - a global provider of Software-as-a-Service for stock management, financial reporting and internal corporate compliance - Morgan Stanley gains access to new technology and a large number of talented young staff in the field of digital banking.
It is forecast that by 2020, the millennial generation (born from 1981-1996) in North America will control 20 trillion USD of assets globally, and Morgan Stanley expects Solium's current young customers to be your rich customers in the future.
5. Goldman Sachs - $925 billion
Since launching Marcus, an online banking service that offers customers zero-fee, no-collateralized, fixed-rate loans and high-yield savings accounts, Goldman Sachs has become one of the largest banks in America.
After that, Goldman made many acquisitions to complement Marcus, such as acquiring personal financial management application Clarity Money.
4. Wells Fargo - $1.89 trillion
Wells Fargo is one of the leading banks in the US in attracting young customers through its mobile banking services. Applications such as "Pay with Wells Fargo" or Greenhouse of this bank help customers easily pay, pay bills, track spending ...
3. Citigroup - 1.96 trillion USD
Citibank is rated as the best bank for high-net-worth families in the US. Customers who maintain a USD 200,000 account at Citibank will enjoy a preferential package called Citigold Package. In addition, according to some reports, Citibank is also ranked first by consumers in terms of mobile banking services.
2. Bank of America - $2.38 trillion
By adopting strategies for the digital age, Bank of America has achieved great success in cutting costs and attracting young customers. This bank now has many branches that are digitized, allowing customers to use touchless automated teller machines (ATMs) and connect to customer service centers using video voice technology.
Bank of America's virtual assistant Erica makes it easy for customers to make peer-to-peer payments and pay bills. Launched in 2017, Erica now has 7 million annual users.
1. JPMorgan Chase - $2.74 trillion
JPMorgan Chase's strength lies in its aggressive investment in digital and AI services, thereby attracting a large number of tech-savvy customers, especially young people. In 2019, JPMorgan Chase invested $11.4 billion in technology, more than any other bank in the US.