How the Best Banks in America Are Taking on Inflation, AI and More

Amid inflation, seesawing rates and the fallout from the Trump administration's tariff policies, it's more important than ever to make your money work for you. That means finding banks that offer competitive annual percentage yields (APYs), no or low fees, impressive perks and expansive digital accessibility.

But most widely available checking accounts don't meet industry standards, according to the nonprofit Financial Health Network, which "leaves millions of Americans without access to high-quality accounts that help them manage their day-to-day spending."

Money's editorial team has spent the past three months researching and analyzing data for banks and credit unions across the country in an effort to help Americans address these and other banking concerns. As we worked, we noticed trends in the ways banks are responding to the evolving interest rate environment and the emergence of artificial intelligence.

Here's what you need to know about those trends and how they factored into our choices for Money's Best Banks in America for 2026.

Banks are reacting quickly to the Fed's rate cut(s)

On Sept. 17, the Federal Reserve slashed its benchmark effective federal funds rate for the first time since December 2024, marking what many expect to be the start of a new rate-cutting cycle.

In justifying its decision to lower rates, the Fed cited slowing job growth, rising unemployment and inflation that has persistently remained above its 2% long-run target. While the current government shutdown may cloud some of the economic data that factors into the Fed's policy decisions, if the group again decides to decrease rates again this month, it will likely cause a ripple effect that'll send rates lower on all interest-bearing banking accounts.

That already happened in response to the Fed's first cut in September, which saw banks and credit unions lower the rates on deposit accounts as their borrowing costs fell and lending practices became less profitable.

However, while the days of APYs in excess of 5% are likely in the rearview mirror, there are dozens of financial institutions still offering certificates of deposit (CDs), share certificates, high-yield savings accounts and money market accounts with attractive APYs in the low- to mid-4% range.

Despite deposit accounts broadly offering lower APYs, these yields still represent between seven and 11 times the national average, which according to September data from the FDIC is currently 0.4%. High-yield accounts have an advantage over the APYs offered by traditional accounts, which allows you to make the most of funds held in banks and credit unions.

AI is reshaping banking services

Another notable banking trend is the use of AI. As the technology quickly becomes ubiquitous, banks and credit unions are using it to:

• Improve customer service experiences with personalized advice, products and conversational AI-powered chatbots
• Streamline loan processing and regulatory compliance filings and enhance risk assessment
• Increase fraud detection, prevent money laundering and improve cybersecurity

That last point is critical. As banking services continue to adapt to a shifting digital world, online and mobile services are increasingly at risk for cyberattacks. A study published in September found that 80% of recent ransomware attacks employed the use of AI. That has forced financial institutions to embrace the very technology used in many of these threats.

In June, a survey conducted by the American Banking Association confirmed banks are paying close attention to both AI and cybersecurity. Specifically, "70% of bank executive respondents said their institutions are boosting their cybersecurity efforts due to recent technological developments such as Gen AI," while "61% were boosting their investments in Gen AI," according to the association.

That same survey showed that more than 50% of respondents said their banks have active pilot projects that use AI for financial forecasting or fraud prevention. Although you may not be aware of it, banks are implementing AI to safeguard your data while enhancing your experience.

What this means for Money's Best Banks

For the 2026 edition of Best Banks in America, Money incorporated those trends and others into the criteria that helped choose each category's winner.

We evaluated more than 275 financial institutions, including national, online and regional banks and credit unions, scrutinizing hundreds of data points like minimum deposit requirements, monthly maintenance fees, APYs, and other features like customer service and convenience, perks and accessibility.

Among those more than 275 institutions, we established Money's top picks in the following categories: best national banks, best online banks, best banks for digital investing, best credit unions, best banks for students, best banks for seniors, best banks for members of the military, best banks for digital investing and the best banks for CD rates, high-yield savings accounts and money market accounts.

We also evaluated data to determine the best banks and credit unions in five U.S. regions: the Northeast, Mid-Atlantic, Southeast, Midwest and West.

Money's Best Banks is one of the publication's oldest franchises, providing readers with an annual analysis of the best financial institutions for everyday banking needs. You can read more about our choices here.

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