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Wealthfront Raises $75M for its Millennial-Facing Investment Platform

Bank Innovation

Automated investing platform Wealthfront has just closed a $75 million round of funding, which will be used to build out its millennial-focused platform, the company announced yesterday.

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Digital Payments, Online Ordering And Memberships Top This Week’s News

PYMNTS

We have deep dives on digital payments, online ordering and memberships. Millennials Drive More to Faster Payments . Millennials and Gen Z are among the groups that are most likely to have received instant payments. From Online Ordering to Cupcake ATMs: How Sprinkles Prepared for the Pandemic.

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Stock-Trading Platform Robinhood Eyes Banking Services

PYMNTS

According to Bloomberg , one source claims that the California-based firm is engaging in conversations with the Office of the Comptroller of the Currency, which charters and regulates all national banks and federal savings associations. Right now, though, the service is only available in five states. s growth fund CapitalG.

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How Can Banks Thrive in the Next Five Years?

Jeff For Banks

And products started migrating online. They are/were the business owners, demanders of capital and loans, and significant depositors. Then came this bubble generation they named millennials. Ever call your millennial child only to get a text back asking "what?" Because that is what millennials needed at the time.

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Target’s Rapid Reset

PYMNTS

Target’s demographic is migrating online — and toward Amazon. They are increasingly seeing the upper-end of their prime demographic, a group PYMNTS titled bridge millennials. In the last four weeks alone, Target has expanded grocery delivery to California, Montana, New York, Pennsylvania and Maine.

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Does Destination Maternity Chain Bankruptcy Signal Larger Trends?

PYMNTS

According to CNBC , the retailer is “buckling under the weight of an onerous debt load and struggling to compete with better capitalized competition.” In addition, shoppers see value in personalized offers that match their buying preferences, or the ability to use their phones to scan a tag and place an online order for an out-of-stock item.

Trends 101
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Seeking Banking Balance Between Physical And Digital

PYMNTS

But, while closing physical bank branches might appear to be a wise cost-saving measure, the move comes with risks that could hurt banks’ relations with new millennial customers. Armistead also spoke to the lesson the bank is learning from smartphone apps to better serve its customers online and in brick-and-mortar locations.