Ally Bank surpasses $100 billion in retail deposits

Ally Bank has 1.9 million retail deposit customers

Ally Bank surpasses $100 billion in retail deposits. Source: shutterstock.com

Ally Bank announced a major milestone, surpassing $100 billion in retail deposits. The news comes just months after the bank celebrated its 10th anniversary.

Ally Bank’s 1.9 million retail deposit customers have demonstrated loyalty over its 10-year history, where retention levels have remained consistently above 90%. Through the first half of 2019, Ally grew retail deposits by $9.5 billion and added more than 200,000 customers.

We're very proud to move through the $100 billion mark in retail deposits, a significant achievement in our journey to be the leading digital bank in the US. Our relentless focus on our customers and strategic approach to offering innovative digital products, reinforces our view that consumers are increasingly seeking a differentiated banking experience
Jeffrey Brown, Chief Executive Officer, Ally

Ally Bank launched in 2009. It is an all-digital platform, providing 24/7 customer service and competitive rates, with no monthly maintenance fees or minimum balance requirement on deposit accounts.

SEE ALSO: Digital Banking Age: how to remain competitive

Categories: All materials Banks News
facebook