Who are Wintrust Financial Corporation's competitors, and what are the alternatives?
Wintrust is a Chicago community-banking group with national specialty businesses, and its 2025 10-K describes rivals for each by type. In its home market it ranks third by deposits: in the Chicago-Naperville-Elgin metropolitan area, FDIC data for June 30, 2026 give JPMorgan Chase 20.4% of deposits, BMO 16.9% and Wintrust 8.6% across 150 offices, ahead of CIBC, Bank of America, Northern Trust, Fifth Third, PNC and Old National. The 10-K says its banks compete with commercial banks, thrifts, credit unions, stockbrokers, mutual funds, insurers and fintechs, and that its multi-charter model and service are how it competes with larger, more centralized banks. In insurance premium finance, a third of its loan book, FIRST Insurance Funding faces national premium finance companies, carrier affiliates and brokers; Applied Systems named AFCO, FIRST Insurance Funding and Imperial PFS the top three premium finance companies in 2024. Non-banks are the real rivals in premium finance and in funding: the 10-K now names marketplace lenders, cryptocurrency companies including stablecoin issuers, and fintechs, and says the 2025 GENIUS Act may let competitors attract funds that would otherwise be deposits. Wintrust Mortgage competes with large mortgage brokers, and the wealth businesses with larger banks' wealth arms, trust companies and brokerages.[1][2][3]
Data as of Oct 19, 2026 · Wintrust profile updated Oct 19, 2026 · computed tables recalculate from the 140 bank profiles on this site · Markdown
What does Wintrust say about its competition?
"We compete in the commercial banking industry through our banks in the communities they serve. The commercial banking industry is highly competitive and the banks face strong direct competition for deposits, loans and other financial related services. The banks compete with other commercial banks, thrifts, credit unions, stockbrokers, government-sponsored entities, mutual fund companies, insurance companies, factoring companies and other commercial entities offering financial services products, including non-bank financial companies and entities commonly known as financial technology companies. Some of these competitors are local, while others are statewide or nationwide."[2]
"FIRST Insurance Funding and Wintrust Life Finance encounter intense competition from numerous other firms, including several national commercial premium finance companies, companies affiliated with insurance carriers, independent insurance brokers who offer premium finance services, and other lending institutions. ... Wintrust Asset Finance competes with other bank-affiliated, independent, captive and vendor equipment leasing and finance companies. ... Our wealth management companies (WPT, Wintrust Investments, GLA and CDEC) compete with larger wealth management subsidiaries of other larger bank holding companies as well as with other trust companies, brokerage and other financial service companies, stockbrokers and financial advisors."[2]
"Our competitors include national, regional and other community banks, and a wide range of other financial institutions such as credit unions, government-sponsored enterprises, mutual fund companies, insurance companies, factoring companies and other non-bank financial companies such as marketplace lenders, cryptocurrency companies (including stablecoins) and other financial technology companies. Many of these competitors have substantially greater resources and market presence or more advanced technology than Wintrust." (Form 10-K for 2025, Item 1 "Strategy and Competition" and Item 1A, filed February 26, 2026.)[2]
Who competes with Wintrust in each of its businesses?
| Business line | Competitor | Type | Why it competes |
|---|---|---|---|
| Chicago-area deposits and community banking | JPMorgan Chase | Bank | JPMorgan Chase holds the largest share of deposits in the Chicago-Naperville-Elgin metropolitan area, 20.4% across 265 offices at June 30, 2026, against Wintrust's 8.6% across 150, per FDIC data.[1] |
| Chicago-area deposits and community banking | BMO | Bank | BMO holds the second-largest share of Chicago-area deposits, 16.9% across 185 offices at June 30, 2026, per FDIC data; Wintrust is third.[1] |
| Chicago-area deposits and community banking | Bank of America | Bank | Bank of America holds 6.6% of Chicago-area deposits across 119 offices (June 30, 2026), per FDIC data.[1] |
| Chicago-area deposits and community banking | Northern Trust | Bank | Chicago-based Northern Trust holds 6.5% of Chicago-area deposits through five offices (June 30, 2026), per FDIC data, and competes with Wintrust's wealth businesses, which the 10-K says face larger banks' wealth management subsidiaries and trust companies.[1][2] |
| Chicago-area deposits and community banking | Fifth Third | Bank | Fifth Third holds 4.4% of Chicago-area deposits across 169 offices, more branches than Wintrust's 150 (June 30, 2026), per FDIC data.[1] |
| Chicago-area deposits and community banking | Old National | Bank | Old National holds 3.0% of Chicago-area deposits across 89 offices (June 30, 2026), per FDIC data, and is a Midwest regional of similar size in Wintrust's peer group on this site.[1] |
| Insurance premium finance (FIRST Insurance Funding, Wintrust Life Finance) | AFCO | Non-bank lender | Applied Systems named AFCO Direct, FIRST Insurance Funding and Imperial PFS the top three premium finance companies in September 2024; AFCO grew its US premium finance business by 75% when it agreed to buy BankDirect Capital Finance, headquartered near Chicago, from Texas Capital in 2022.[3][4] |
| Insurance premium finance (FIRST Insurance Funding, Wintrust Life Finance) | Imperial PFS (IPFS) | Non-bank lender | IPFS, which calls itself the largest family-owned premium finance company in North America with $15.5 billion financed in 2023, is one of the three premium finance companies Applied Systems integrated in 2024 alongside FIRST Insurance Funding.[5][3] |
| Insurance premium finance (FIRST Insurance Funding, Wintrust Life Finance) | Insurance carrier affiliates and brokers | Non-bank lender | Wintrust's 10-K names companies affiliated with insurance carriers and independent insurance brokers that offer premium finance among FIRST Insurance Funding's competitors, and warns its position could suffer if carrier affiliates add flexibility to their financing.[2] |
| Mortgage (Wintrust Mortgage) | Large mortgage brokers and other banks | Non-bank lender | The 10-K says Wintrust Mortgage competes with large mortgage brokers as well as other banking organizations, in a market where consolidation and margin compression have squeezed small and mid-sized independent lenders.[2] |
| Fintechs, marketplace lenders and stablecoins | Fintechs, marketplace lenders and cryptocurrency companies | Fintech | Wintrust's 2025 10-K names marketplace lenders, cryptocurrency companies including stablecoins and other fintechs among its competitors, and says the GENIUS Act of 2025 may let competitors attract funds that would otherwise be bank deposits.[2] |
| Wealth management (WPT, Wintrust Investments) | Larger banks' wealth arms, trust companies and brokerages | Broker or asset manager | The 10-K says Wintrust's wealth companies compete with larger bank holding companies' wealth subsidiaries, trust companies, brokerage firms, stockbrokers and financial advisors, and seek to win on personal attention to small and midsize businesses and affluent individuals.[2] |
How do the AI and digital offerings of Wintrust's competitors compare?
Wintrust first, then each competitor. Use-case counts, index scores and latest moves are computed from our profiles of each company; "No profile" means this site has no page on it yet.
| Company | AI or digital offering | On the record (our profiles) | Latest dated AI move |
|---|---|---|---|
| Wintrust Financial Corporation (this page) | Not disclosed | Index 38.1 (#76); 9 use cases, 7 in production | Equipment-finance unit writes on financing the AI boom (Sep 8, 2026)[6] |
| JPMorgan Chase | LLM Suite for about 250,000 employees; outside AI agents blocked from accounts (October 2026).[7][8] | Index 89 (#6); 15 use cases, 8 in production | Q3 2026 call: outside AI agents stay blocked; AI spend put near $700 million (Oct 13, 2026)[8][9][10] |
| BMO | Lumi Assistant for staff and Aura, an agent drafting commercial credit-assessment commentary (2026).[11][12] | Index 85.8 (#10); 16 use cases, 14 in production | Evident AI Index 2026: top 20 overall, #2 for AI outcomes (Oct 6, 2026)[13] |
| Bank of America | Erica: more than 3 billion interactions and nearly 50 million users by August 2025.[14] | Index 97.3 (#1); 18 use cases, 16 in production | Treasury, FinCEN and OCC impose $1.21 billion in AML and sanctions penalties (Oct 13, 2026)[15][16][17] |
| Northern Trust | Open Semantic Interchange and the data foundation[18][19][20][21][22] | Index 79.7 (#23); 17 use cases, 11 in production | CFO David Fox to retire around March 2027 (Sep 29, 2026)[23] |
| Fifth Third | Jeanie, the AI assistant in its mobile app, and an AI-powered app interface with 150 intents (June 2026).[24][25] | Index 84 (#14); 13 use cases, 10 in production | AI chief Jay Budzik describes the lending-model upgrade (Oct 12, 2026)[26] |
| Old National | An AI centre of excellence stood up within technology and data teams (April 2026).[27] | Index 66 (#40); 14 use cases, 10 in production | Q2 2026 10-Q has no AI language (Jul 29, 2026)[28][29][30] |
| AFCO | Not disclosed | No profile | Not disclosed |
| Imperial PFS (IPFS) | Not disclosed | No profile | Not disclosed |
| Insurance carrier affiliates and brokers | Not disclosed | No profile | Not disclosed |
| Large mortgage brokers and other banks | Not disclosed | No profile | Not disclosed |
| Fintechs, marketplace lenders and cryptocurrency companies | Not disclosed | No profile | Not disclosed |
| Larger banks' wealth arms, trust companies and brokerages | Not disclosed | No profile | Not disclosed |
Who should look beyond Wintrust, and where?
| If you are | Look at | Why |
|---|---|---|
| Customers who want a bank with a large digital assistant | Bank of America (Erica) or Fifth Third (Jeanie) | Wintrust has not disclosed a customer-facing AI assistant; its CEO says AI work is at an early stage. Bank of America and Fifth Third, both with Chicago-area branch networks, run in-app assistants: Erica with more than 3 billion interactions (August 2025) and Jeanie, which won a 2026 Tearsheet award.[31][1][14][24] |
| Customers who need branches outside the Chicago area, Wisconsin, west Michigan, northwest Indiana and southwest Florida | A national bank such as JPMorgan Chase | Wintrust's 209 banking locations at the end of 2025 sit in those markets. JPMorgan Chase Bank's 10-K describes U.S. branches in 48 states and Washington, D.C., and it holds the largest share of Chicago-area deposits.[2][32][1] |
| Insurance agents and insureds who want a choice of premium finance company | AFCO or Imperial PFS | Applied Systems integrated all three of the top premium finance companies, AFCO Direct, FIRST Insurance Funding and Imperial PFS, into its Applied Pay checkout in 2024, offering insureds immediate approvals and, on loans up to $100,000, financing with no agent intervention.[3] |
| Wealthy families who want a dedicated trust and wealth bank | Northern Trust | Wintrust's 10-K says its wealth businesses compete with larger banks' wealth subsidiaries and trust companies by focusing on small to midsize businesses and affluent individuals. Chicago-based Northern Trust holds 6.5% of Chicago-area deposits through just five offices (June 2026).[2][1] |
Where does Wintrust rank in Chicago-area deposits?
Deposits in FDIC-insured offices in the Chicago-Naperville-Elgin, IL-IN metropolitan area at June 30, 2026, summed by holding company from the FDIC's Summary of Deposits. Total: $630.7 billion. Large single-office balances can reflect deposits booked at headquarters.
| Holding company | Deposits | Share | Offices |
|---|---|---|---|
| JPMorgan Chase | $128.4 billion | 20.4% | 265[1] |
| BMO (Bank of Montreal) | $106.9 billion | 16.9% | 185[1] |
| Wintrust | $54.1 billion | 8.6% | 150[1] |
| CIBC | $49.0 billion | 7.8% | 6[1] |
| Bank of America | $41.3 billion | 6.6% | 119[1] |
| Northern Trust | $41.3 billion | 6.5% | 5[1] |
| Fifth Third | $27.7 billion | 4.4% | 169[1] |
| PNC | $19.5 billion | 3.1% | 119[1] |
| Old National | $18.9 billion | 3.0% | 89[1] |
Who are Wintrust's biggest competitors?
In Chicago-area deposits, JPMorgan Chase (20.4%) and BMO (16.9%), the two banks ahead of Wintrust (8.6%) at June 30, 2026, followed by CIBC, Bank of America, Northern Trust, Fifth Third, PNC and Old National. In premium finance, AFCO and Imperial PFS, the other two of the top three Applied Systems named in 2024. The 10-K also names credit unions, mutual funds, insurers, marketplace lenders, cryptocurrency companies and fintechs.[1][3][2]
Wintrust vs BMO in Chicago: how do they compare?
BMO is larger in the Chicago area, with $106.9 billion of deposits across 185 offices against Wintrust's $54.1 billion across 150 at June 30, 2026. On AI, BMO has an Institute for Applied AI & Quantum (April 2026) and Aura, an agent drafting commercial credit commentary; Wintrust says it is in the early stages and starting with vendor features.[1][33][12][31]
Who competes with FIRST Insurance Funding in premium finance?
Wintrust's 10-K names national commercial premium finance companies, insurance carrier affiliates, independent brokers that finance premiums and other lenders. By name, Applied Systems called AFCO Direct, FIRST Insurance Funding and Imperial PFS the top three premium finance companies in 2024; IPFS reports $15.5 billion financed in 2023, and Wintrust originated about $21.8 billion of premium finance receivables in 2025.[2][3][5]
Do fintechs and stablecoins compete with Wintrust?
Wintrust's 2025 10-K says so. It lists marketplace lenders, cryptocurrency companies including stablecoins and other fintechs among its competitors, says technology lets non-banks and banks without local branches compete for deposits, and warns that the GENIUS Act of 2025 may let competitors attract funds that would otherwise be deposited with banks.[2]
How does Wintrust say it competes with bigger banks?
Its 10-K credits its multi-charter model, which pushes accountability down to each of its banking franchises, its service, which management calls a great equalizer, and a broad product mix spanning retail, commercial, mortgage and wealth. It says it offers larger credit facilities than smaller local rivals while keeping local decision-making.[2]
Is AI changing deposit competition for Wintrust?
Not much yet, according to its CEO. On the July 2026 call Tim Crane said cash sorting, AI and new product introductions are something Wintrust deals with every day, and that the impact so far has been modest. Its 10-K adds that technology lets banks without a physical presence in its markets compete for deposits.[34][2]
Who competes with Wintrust in equipment finance?
Wintrust's 10-K says Wintrust Asset Finance competes with other bank-affiliated, independent, captive and vendor equipment leasing and finance companies. Its separate equipment lender, Wintrust Specialty Finance, a division of Beverly Bank and Trust, uses AI for credit adjudication and originated more than 4,000 deals worth roughly $500 million in the first half of 2026, according to Equipment Finance News.[2][35]
Does Northern Trust compete with Wintrust?
In Chicago deposits and wealth management, yes. Northern Trust held $41.3 billion, 6.5% of Chicago-area deposits, through five offices at June 30, 2026, close to Bank of America's 6.6%. Wintrust's 10-K says its wealth companies compete with larger banks' wealth subsidiaries and trust companies by focusing on small to midsize businesses and affluent individuals.[1][2]
- Summary of Deposits: Chicago-Naperville-Elgin, IL-IN metropolitan area, June 30, 2026 (FDIC BankFind API, index of 2026-09-18; retrieved 2026-10-19)
- Wintrust Financial Corporation Annual Report on Form 10-K for the fiscal year ended December 31, 2025
- Applied Pay Integrates with Leading Premium Financing Companies to Deliver Advanced Financing Options at Checkout
- Truist to acquire Texas Capital's premium finance business
- Nation's Top Premium Finance Company, IPFS, Acquires Stonemark, Inc.
- Financing the AI innovation roadmap
- Driving AI Use Cases and Adoption (Women in Banking 2025 session)
- JPMorgan Chase blocks outside AI agents like Muse, Instinct from directly accessing accounts
- JPMorgan CEO Dimon warns customers of 'liability transfer' with AI
- JPMorgan warns of risks to consumers who rely on AI agents
- Meet Lumi Assistant: BMO's award-winning AI tool empowering Team BMO
- Aura: Helping power BMO's goal of 50% faster underwriting by 2028
- BMO Earns Top Recognition for Responsible AI Leadership in Global Banking
- A Decade of AI Innovation: BofA's Virtual Assistant Erica Surpasses 3 Billion Client Interactions
- U.S. Treasury Announces Record Enforcement Actions Against Bank of America
- OCC Imposes $750 Million Assessment Against Bank of America for Deficient BSA/AML Compliance
- BofA fined $1.21 billion over AML
- Northern Trust Collaborates with Industry Peers to Strengthen Data and AI Interoperability
- Fourth Quarter 2025 Presentation Materials
- How Does Natural Language Processing Work? The Key Questions to Ask
- Northern Trust Conference: NTRS Bets on ETFs, Alternatives, AI and Tokenization to Drive Growth
- Northern Trust (NTRS) Q4 2025 Earnings Transcript
- Northern Trust Corporation Form 8-K: Chief Financial Officer David W. Fox, Jr. plans to retire
- Fifth Third's Jeanie Named Best Chatbot by Tearsheet AI Innovation Awards
- Fifth Third Launches AI-Powered Interface in Mobile App
- Alum Spotlight: Jay Budzik (PhD '03)
- Old National (ONB) Q1 2026 Earnings Transcript
- Old National Bancorp Quarterly Report on Form 10-Q for the quarter ended June 30, 2026
- Old National Bancorp Quarterly Report on Form 10-Q for the quarter ended March 31, 2026
- Old National Bancorp Reports Record Second Quarter 2026 Results; Announces Enhanced Executive Leadership Structure
- Strategic Growth and Service By Investing.com
- JPMorgan Chase & Co. Annual Report on Form 10-K for the year ended December 31, 2025
- BMO Establishes Institute for Applied Artificial Intelligence & Quantum
- Wintrust Financial Corporation (WTFC) Q2 FY2026 earnings call transcript
- AI driving funding growth via credit adjudication
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