5 billion and added more than 200000 customers Ally has been recognized with

5 billion and added more than 200000 customers ally

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$9.5 billion and added more than $200,000 customers. Ally has been recognized with awards over the last few years. A few of the awards are Best Internet Bank and Best Bank for No Fee, Money Magazine, Best Online Bank for Customer Service by Newsweek, and Best Banks to Work for by American Banker. In the industry that Ally competes in, they have competition everywhere and should expect it to intensify. Competition comes in areas of financing, insurance, banking(corporate & mortgage finance), security brokerage, and investment-advisory services. Ally’s competitors have exclusivity privileges with auto manufacturers whose customers and dealers make up a significant portion of its customer base. Also, these competitors have substantial positions nationally in the markets in which they operate. Competition affects every aspect of Ally’s business. Its competitors may be more willing to suffer meaningful financial losses in the pursuit of disruptive innovation or other risks in pursuit of higher returns, however Ally success to compete in its market depends on their ability to innovate, invest in technology and
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infrastructure, maintain and enhance their reputation, and attract, retain, and motivate its employees all while effectively managing risks and expenses. It’s this focus that has kept them around for 100 years. Industry-wide Operational Need Banks have been around forever and as technology advances the banking industry must find ways to survive in this constantly changing technology landscape.
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