What to read today: The Online Grocery Report: The coronavirus pandemic has brought online grocery — a promising but formerly niche industry — to the fore. This report first looks back at how online grocery adoption was progressing prior to the coronavirus pandemic to understand the state of the industry before the shopping method became vital to many consumers. .
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 | May 30, 2020 | |  | | Bank of America, Citi, Chase, and Wells Fargo have shifted employees to deal with defaulted loans. | The top four US banks by assets — Bank of America (BofA), JPMorgan Chase, Citi, and Wells Fargo — are reportedly restructuring employees' roles so they can handle troubled or defaulted loans.
Banks stand to lose out on major revenue for several months because of the coronavirus relief options they've extended, like mortgage deferrals. To protect against that, they've increased loan loss provisions: Chase, Citi, Wells Fargo, and BofA collectively allocated $24.1 billion in Q1 2020 to cover future loan losses.
Banks will need to gain a holistic picture of customers' financial situations to determine who they should nudge back toward repayment — and for that, they'll likely need all hands on deck to sift through the thousands of accountholders who opted into some deferral programs.
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|  | BRIEFING HIGHLIGHTS | | | | | | | | | | | | | | | | | | | | | |  | RESEARCH IN FOCUS | |  | | The Online Grocery Report | | The coronavirus pandemic has brought online grocery — a promising but formerly niche industry — to the fore. This report first looks back at how online grocery adoption was progressing prior to the coronavirus pandemic to understand the state of the industry before the shopping method became vital to many consumers. | | Get the full report → | | |  | | The Internet of Medical Things | | In this brand new report, Business Insider Intelligence assesses the North American Internet of Medical Things (IoMT) market and explores how the IoMT opportunity for connectivity providers is evolving alongside the coronavirus pandemic, and how these players are carving out their place in the growing segment. | | Get the full report → | | |  | | The Subscription Payments Ecosystem | | The power dynamics in the payments industry are changing as businesses and consumers shift dollars from cash and checks to digital payment methods. This report examines the payments ecosystem today, its growth drivers, and where the industry is headed. | | Get the full report → | | |  | BECOME A SUBSCRIBER | | Did you know the Daily is just a preview of everything Business Insider Intelligence has to offer?
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