PYMNTS

JANUARY 15, 2021

In today’s top digital-first banking news, Goldman Sachs has selected FinTech startup Marqeta to power digital checking accounts for Marcus, while California credit card startup X1 notched $12 million in a funding round headed up by Spark Capital. economy had moderate gains in the pandemic year of 2020.

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PYMNTS

JANUARY 13, 2021

“I was surprised by the opportunity of monetization in 2020 during the pandemic, not just by our wealth accounts but also by lending.”. Paytm offers a wide array of digital products throughout India, including a merchant payment platform, money transfers, and bill payments.

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PYMNTS

JANUARY 19, 2021

But the results also underscored the continued push into consumer banking, and specifically online banking. Supplemental materials released by the company show credit card loans stood at $4 billion, up from $3 billion in the third quarter, and $2 billion in the year-ago period.

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PYMNTS

JUNE 3, 2020

Brick-and-mortar branches shuttered as social distancing measures were enforced, and customers subsequently turned to mobile apps or websites to fulfill their banking needs rather than risking in-person visits. Online account openings have increased 14.5 Confronting Digital Banking Reality. Forty-five percent of U.S.

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PYMNTS

JANUARY 20, 2021

The ongoing pandemic has pushed more consumers online to carry out their shopping and banking, with fraudsters following suit. Bad actors have moved to take advantage of the rush to digital payments — particularly those made with debit cards — leaving banks and financial institutions (FIs) racing to keep them off their platforms.

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Gonzobanker

JANUARY 17, 2020

Well GonzoBankers, the gang is back to work and we are all headed face-first into 2020 – a year with more uncertainty than most about how things will turn out. So, to get your Gonzo executive brains warmed up for a new year, I offer you 20 important banking realities for 2020 to guide your strategic execution efforts: 1.

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PYMNTS

JUNE 26, 2020

Digital banking has become the new normal as social distancing guidelines and stay-at-home orders have drastically curbed financial institutions’ (FIs’) abilities to conduct in-branch services. Online account openings increased by more than 200 percent in April, while all mobile banking traffic rose by 85 percent.

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Gonzobanker

FEBRUARY 19, 2020

Financial institutions are making fintech partnerships a key priority in 2020, according to a new study from Cornerstone Advisors. In What’s Going On In Banking 2020: Outlook for a New Decade , 65% of banks and 76% of credit unions say these partnerships will be an important part of their business strategies this year.

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CB Insights

AUGUST 3, 2021

California-based Mercury is an online banking platform that offers a suite of financial services such as FDIC-insured bank accounts, physical and virtual cards, and cash management for startups, e-commerce stores, and angel investors, among others. HOW’S THE COMPANY PERFORMING? Want the full post?

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PYMNTS

FEBRUARY 18, 2020

The PSCU company Lumin Digital has signed Bartlett, Tennessee-based First South Financial credit union to a multi-year digital banking and cloud computing agreement, Lumin announced on Tuesday (Feb. The new platform should be available to First South Financial customers in June of 2020.

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Fintech Labs Insights

NOVEMBER 10, 2023

Consumers have been banking online for 28 years. And from the very beginning, there have been pure-play digital banking startups. The first, online bank Security First Network Bank (SFNB) launched in 1995, just a year after Amazon.com. But unlike ecommerce, digital-only banking was slow to catch on.

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PYMNTS

OCTOBER 16, 2020

We have deep dives on connected devices, instant payments and what the digital shift means for customer expectations of card issuers. Mastercard: Why It’s Time For Card Issuers To Up Their Digital Game. Consumers’ digital shift means that customer expectations for their card issuers are higher than in the past.

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PYMNTS

NOVEMBER 25, 2019

Once the accounts are linked, Discover customers can pay for purchases at millions of online stores using PayPal, and instantly redeem any amount of accumulated rewards. . “We In July of 2020, the partnership will expand to allow for Discover card owners to get 5 percent cash back on up to $1,500 purchases if they use PayPal.

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PYMNTS

JANUARY 2, 2020

Gaming company Razer is going after a Singapore digital banking license, along with China’s largest online monetary platform Ant Financial , according to reports on Wednesday (Jan. Razer FinTech will own a 60 percent majority stake Razer Youth Bank, which will be headquartered in Singapore. .

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MyBankTracker

NOVEMBER 19, 2020

Sponsored Content Disclosure: This content was commissioned and paid for by the bank advertiser. CIT Bank is among the largest 50 U.S. banks and it also happens to be one of the biggest online banks (based on domestic deposits). Yet, many consumers have never heard of the bank. CIT Bank Savings Builder.

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PYMNTS

JANUARY 21, 2021

In just a few recent examples: Bank of America said this past week that active mobile banking users rose 6 percent to 30.8 Active digital banking users likewise grew 3 percent to 39.3 Citigroup said that per its latest results, mobile users of Citi banking services are up 95 percent year on year.

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PYMNTS

FEBRUARY 24, 2020

Yet, some common threads unite the respective bids by LendingClub for Radius Bank and by Morgan Stanley for E-Trade , with a nod toward the changing financial services landscape and serving customers through “one-stop shop” platform models. PYMNTS (@pymnts) February 21, 2020. The LendingClub Deal. billion worth of loans.

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PYMNTS

DECEMBER 9, 2020

A tech upstart – a FinTech, no less – breaking even in 2020? We’re being a bit tongue in cheek, but the fact remains that digital-only banking is getting a wider embrace – especially in Europe, as the pandemic surges yet again. banking license. Could happen. For more than one company. Revolut, the U.K.-based

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PYMNTS

DECEMBER 28, 2020

Consumers, businesses and financial institutions (FIs) cannot wait to bid adieu to 2020, which has been one of the most trying years in recent memory. Houston-based First Service Credit Union has selected a third-party provider’s digital banking suite to enhance its members’ online access to financial services.

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CB Insights

FEBRUARY 13, 2020

As businesses and consumers become more comfortable using credit cards online, the proportion of US commerce that takes place online has steadily increased over the last 20 years. Stripe really did come about because we were really appalled by how hard it was to charge for things online.” — John Collison.

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PYMNTS

DECEMBER 10, 2019

“After conducting extensive research, we chose Lumin Digital because we believe it is the top online banking system on the market,” said Larry Holderman, CEO of Mutual Security Credit Union in the release. Our team worked in close coordination with the Lumin Digital team to execute a well-orchestrated conversion for our members.

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Fintech Labs Insights

APRIL 6, 2023

Looking for digital banks, lenders, payment providers, insurance or digital accounting for small businesses? Grasshopper Bank FAB Score = 39 (down 1) – HQ: NYC – Founded: 2016 – Raised $162M including $30M Aug 2022 ( Crunchbase ) – Assets: $620 million (12/31/22), 2.1x 95,000 6 Meow * 11 4.3% 550 reviews) 2.

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PYMNTS

JUNE 17, 2020

With studies showing that 92 percent of consumers read online restaurant reviews, and one-third of them bypassing any eatery with less than four stars, it’s not surprising that close to 60 percent of restaurant owners feel reviews drive business better than advertising. Where you find customer data, you also find cybercrooks.

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PYMNTS

MAY 14, 2020

PSCU will host its Virtual Member Forum 2020 from June 16 to June 17, bringing its largest yearly event to a digital environment in light of continued virus-related lockdowns. The credit union service organization (CUSO) has scheduled Virtual Member Forum 2020 to take place from 2 p.m. ET each day.

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PYMNTS

JANUARY 15, 2021

15) as part of its Q4 2020 earnings that its provision for credit losses fell $823 million. The bank attributed the drop mostly to a $757 million reserve release due to the announced sale of its student loan portfolio and lower net charge-offs. Wells Fargo saw credit card point of sale (POS) volume of $22.9 billion a year ago.

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Fintech Labs Insights

JUNE 26, 2023

Looking for digital banks, lenders, payment providers, insurance or digital accounting for small businesses? Baselane FAB Score: 27 (down 1) Top APY: 4.25% (26 June 2023) Minimum Balance: none – HQ: NYC – Founded: 2020 – Banking service provider: Blue Ridge Bank – Raised: $7.9M 52 reviews) 6.

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PYMNTS

APRIL 21, 2020

The coronavirus pandemic — which has forced all of us online — is exposing just who in financial services has embraced digitization, and who is truly digital native. We now must bank entirely online, by necessity. In times of turmoil, you go toward whom you trust. You can reward people in non-cash ways.”.

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PYMNTS

JANUARY 28, 2020

But that doesn’t mean all the players in payments and financial services have a solid or clear digital strategy. The problem can be especially acute when it comes to financial institutions (FIs), said John Owens, general manager of Elan Credit Card , in a new podcast interview with PYMNTS. The age of personalized service is upon us.

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PYMNTS

FEBRUARY 11, 2020

In an interview with Karen Webster, Sherri Haymond, executive vice president of digital partnerships at Mastercard, and Diwakar “Dee” Choubey, founder and CEO of digital banking membership MoneyLion, delved into how collaboration between the card network and the FinTech will foster new card program launches in 2020 and beyond.

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PYMNTS

DECEMBER 15, 2020

Digital transformation is among the most noticeable changes, but it doesn’t herald the end of the brick-and-mortar experience, Brian Scott , senior vice president and chief growth officer at PSCU , told PYMNTS in a recent interview. Scott noted that fewer credit union mergers happened in 2020, largely due to the pandemic.

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MyBankTracker

JANUARY 19, 2021

In 2020, the world was forced to adapt in so many different ways — and consumer banking was no exception. ” With the expectation that the coronavirus vaccine becomes available to the general public, consumer banking will continue to see changes. Consumer Banking Trends of 2020.

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PYMNTS

JANUARY 15, 2021

Morgan Chase, Citigroup and Wells Fargo showed the pandemic’s impact on critical lending and spending, and of course debt repayment, may not have been as bad as had been feared in the dark days of Spring 2020. What’s in the cards? Morgan released reserves, yes, but kept its reserves tied to the card business intact, at $17.8

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CB Insights

DECEMBER 10, 2020

Bank of America, for one, saw profits drop 16% year-over-year (YoY) in Q3’20 to $4.9B. The pandemic has also accelerated recent trends in banking, especially among the millennial demographic, which tends to favor digital banking and online brands over traditional banks. Category breakdown .

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PYMNTS

FEBRUARY 13, 2020

The conversation came against a backdrop where NCR has been moving more deeply into mobile and online banking. Brown said the company has been working to become a software company, with digital-first banking firmly in the crosshairs. Looking At Open Banking. For example, Visa bought Plaid as 2020 dawned.

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FICO

JANUARY 5, 2021

Two of our top five posts focused on digital transformation innovations in biometrics and customer identification. What else made for the hottest reads in 2020 for fraud and financial crime? 3: FICO Digital Banking Study: Security And Authentication In A Digital World. 74% of all phishing sites now use SSL.

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PYMNTS

JULY 21, 2020

Microbusinesses have to pay bills, and they want to set up card acceptance programs and mobile and digital-wallet platforms for payments. They can issue cards tied to local merchants, [and] connect some rewards to loyalty toward the local market.”. If credit unions can manage both sides of that, that is a winning equation.

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PYMNTS

OCTOBER 21, 2019

Spanish lender Santander is planning to launch an online deposit platform in the U.S., The bank is planning to roll out a “national deposit gathering platform” in 2020 to reel in more attractive rates for its consumer business, Scott Powell, chief executive officer (CEO) of Santander in the U.S., told the FT. told the FT.

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