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Varo crosses 1 million customers, with plans to become a bank by 2020

Bank Innovation

Digital banking brand Varo has 1 million customers, and is pushing ahead with plans to become a nationally-chartered bank early next year, CEO Colin Walsh told Bank Innovation Tuesday.

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Weekly Wrap: Banner week for fintech acquisitions

Bank Innovation

In this episode, editors discuss the following news developments: Implications from LendingClub’s acquisition of Radius Bank; How Ally’s acquisition of the non-prime lender CardWorks boosts the bank’s long-term plans; and The launch of digital banking startup Level […].

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New Digital Experiences Keep Credit Unions Relevant – And Then Some

PYMNTS

A separate study found that 88 percent of credit unions surveyed in early 2020 planned to invest more in such technologies than they had over the previous year. We all know what’s transpired since. That’s the shape of things as technologies from biometrics to artificial intelligence (AI) become commonplace.

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What Legacy FIs Miss About The Need For Cloud-Based Infrastructure

PYMNTS

In the May edition of the Digital Banks And The Power Of The Cloud Tracker , PYMNTS examines how both legacy and challenger FIs are using cloud technologies to enhance their online offerings. Moneybase itself is set to launch at an undisclosed date later in 2020, and it will be completely cloud-based, according to its parent company.

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Retail Banking Year in Review 2020: A Reflection in 20 Charts

The Financial Brand

A look at the digital banking trends of the last year provides a perspective for future strategies and organizational changes. The post Retail Banking Year in Review 2020: A Reflection in 20 Charts appeared first on The Financial Brand.

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How to Make Your Financial Institution Digital-First in 2020

The Financial Brand

Choose the right digital future for your bank or credit union. The post How to Make Your Financial Institution Digital-First in 2020 appeared first on The Financial Brand. Then organize staffing, budgeting and partnerships. Then hold onto the reins.

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Forrester: Pandemic to impact tech spend more than 2008 crisis 

BankInovation

government and business spending on tech might drop 5% in 2020 due to the pandemic, by optimistic estimates, whereas the 2008 financial crisis spurred a 2% drop, according to Forrester Research.? “The The pandemic’s effect on tech budgets is not only more than the 2008 financial crisis, but might also have a lingering effect on […].