Why Amex is buying Kabbage

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Digital banking M&A American Express Marketplace lending Digital Banking 2020 KabbageAmerican Express isn't acquiring any loans in its deal for the online small-business lender. Here's what it is getting.

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T-Mobile extends its mobile money program to Sprint customers

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Digital banking Sprint Overdrafts Mobile banking Digital Banking 2020T-Mobile Money is now being offered to the 150 million customers of the combined wireless carriers, which merged this spring.

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Why OnDeck is being sold on the cheap

American Banker

M&A Coronavirus OnDeck Capital Small Biz Banking 2020 Small business lending Marketplace lending Digital Banking 2020The pioneering online lender had long struggled to live up to the hype that drove its early growth, even before the pandemic pushed it to the brink.

Walmart, Green Dot inching MoneyCard closer to banking look-alike

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The reloadable debit card resembles a bank account with new high-yield savings account and other tweaks. Digital banking Debit cards Green Dot Walmart Digital Banking 2020

Neobanks catering to self-employed see influx during pandemic

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Challengers like Joust, Lili and NorthOne that offer banking services to freelancers and small-business owners are getting record levels of new customers as the traditional workforce thins. Fintech Coronavirus Small Biz Banking 2020 Small business Digital Banking 2020

Banks are stepping up tech for people with disabilities

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Bank and Regions revamped their apps with accessibility in mind; JPMorgan Chase built a branch for customers who are deaf. Such efforts can help banks appeal to more customers in existing markets. Digital banking Regions Bank U.S. Bank ADA U.S.

How fintech mentorships have adapted during the pandemic

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Mentoring BMO Harris Bank Coronavirus JPMorgan Chase Citigroup Training Visa Digital Banking 2020

Bank of America dominates digital banking. Here’s how it plans to stay ahead.

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The bank is making continuous improvements, including integrating Merrill Lynch accounts into its banking app and adding a security feature to Zelle. Digital banking Bank of America Artificial intelligence Mobile banking Virtual assistants Digital Banking 2020

Which fintechs will survive the pandemic?

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Digital banking Fintech Disruptors Venture funding Coronavirus Venture capital Digital Banking 2020Business models and adaptability will determine the success — or failure — of financial technology companies as they deal with fallout from the coronavirus outbreak.

Eastern Bank spinoff launches money management app for small businesses

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Small and midsize banks would pay for access to the Monit app and offer it to small-business clients as an add-on service. Eastern Bank Small business accounting software Small business Digital Banking 2020

What happens if Mastercard and Visa gobble up all the data aggregators?

Payments Source

Thanks to their close relationship with the card networks, banks stand to benefit most from deals like Mastercard’s agreement to buy Finicity and Visa’s pending purchase of Plaid. Digital banking Fintech Data sharing Finicity Plaid Technologies Mastercard Visa Digital Banking 2020The prospects for fintechs and consumers are dicier.

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What's a blockchain bank? A Wall Street veteran building one explains.

American Banker

Blockchain Bitcoin Cryptocurrencies Digital Banking 2020Caitlin Long, a former Morgan Stanley and Credit Suisse managing director, is starting a special-purpose depository institution that will provide payment and custody services to institutional investors and corporate treasurers.

Walmart, Green Dot inching MoneyCard closer to banking look-alike

American Banker

The reloadable debit card resembles a bank account with new high-yield savings account and other tweaks. Digital banking Debit cards Green Dot Walmart Digital Banking 2020

In the middle of a pandemic, two remittance startups thrive

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Remitly and TransferWise are benefiting from consumers' shift to digital payments and a turn toward banking services as global remittance volumes drop. Remittances TransferWise Green Dot Digital Banking 2020

Banks model site search upgrades on Google

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Bank are fine-tuning the search functions on their sites and apps to improve navigation, sales and customer retention. Digital banking U.S. Bank Websites Natural language processing BBVA Virtual assistants Google Digital Banking 2020BBVA and U.S.

Social media ambassadors, online education: How banks are courting Gen Z

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Bank of America and Clinton Savings Bank in Massachusetts are targeting consumers at a young age and hoping to keep them for life. Digital banking Bank of America Financial literacy Digital Banking 2020

When customers contact Wells Fargo, AI system goes to work

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Digital banking Artificial intelligence Compliance Wells Fargo Customer service Customer experience Digital Banking 2020

‘There will be hundreds of fintech failures’

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Jane Gladstone, new president of Promontory Interfinancial Network, says the recession will accelerate the shakeout among the nonbank disruptors and that small banks have an opportunity to forge new bonds with the survivors.

Bank safety measures evolve well beyond hand sanitizer

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Banks are augmenting their use of masks, distance markers and the like with apps to notify employees of exposure to infected individuals and technology meant to make branch visits safer. COVID-19 Digital banking Wells Fargo ATMs Coronavirus Diebold Nixdorf Branch banking Digital Banking 2020

It's official: Varo Money has national bank charter

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"We can control our destiny," says Colin Walsh, CEO of the challenger bank, which spent more than three years seeking to become a full-fledged bank. Digital banking Fintech Varo Money OCC Challenger Bank Colin Walsh Digital Banking 2020

JPMorgan Chase plans to let mobile customers scan in their receipts

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Digital banking Expense management PFM Mobile banking JPMorgan Chase Digital Banking 2020The company is partnering with Sensibill, a fintech whose technology turns photos of receipts into text and helps people track and manage their expenses.

Digital Banker of the Year: Quontic's Patrick Sells

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Digital banking CDFIs Digital Banking 2020How a twentysomething marketing entrepreneur helped transform a small community development financial institution into a digital leader.

Google teams with more banks in offering digital accounts

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Five banks, including BBVA USA and BMO Harris Bank, and one credit union will begin offering Google-branded bank accounts in 2021. Digital banking BBVA Online banking BMO Harris Bank Mobile banking Google Digital Banking 2020

Banks ready new tech tools to tackle debt collection

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Digital banking Debt collection Coronavirus Virtual assistants RPA Digital Banking 2020KeyBank, Regions and others are using self-service portals, robotic processing automation and virtual assistants to digitize the collections process and make it more humane in anticipation of rising delinquencies.

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Plaid launches real-time updates on account activity

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Banks that work with the data aggregator will tell it when account updates are ready, so it can refresh fintech (or bank) apps immediately. Digital banking Fintech Disruptors Real-time data Plaid Technologies Digital Banking 2020

The challenger banks reaching Gen Z

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Digital banking Wells Fargo Debit cards Digital Banking 2020Fintechs like Greenlight and gohenry have drawn millions of teens with features like savings goal tracking and customizable debit cards.

Can fintechs help plug banking gaps for struggling Black consumers?

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Digital banking Fintech Gig economy Coronavirus Digital Banking 2020Current, Stoovo and other companies are reaching out with low-cost, low-fee financial services and even tools to help users search for part-time jobs.

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How fintech mentorships have adapted during the pandemic

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Mentoring BMO Harris Bank Coronavirus JPMorgan Chase Citigroup Training Visa Digital Banking 2020

Building customers’ wealth by putting excess cash on ‘Autopilot’

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Digital banking Fintech Wealthfront Robo advisors Digital Banking 2020The fintech Wealthfront's latest wrinkle gives clients a high level of control over their money, including the ability to set automatic transfers to savings accounts or exchange-traded funds.

U.S. Bank rolls out virtual assistant

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Voice and text banking will be embedded in the Minneapolis bank's mobile app through a chatbot assistant that also caters to users with disabilities. Digital banking Voice Recognition Mobile banking Virtual assistants Digital Banking 2020

What ransomware attacks on vendors mean for banks

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Here’s how banks can guard against that. Ransomware Digital banking Cognizant Cyber security Vendor management Cloud computing Diebold Nixdorf Digital Banking 2020

Consumers are relying more on finance apps, survey finds

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Digital banking Fintech Plaid Technologies Coronavirus Mobile banking Digital Banking 2020A survey conducted by Harris Poll and commissioned by Plaid found that 60% of U.S. adults are using more apps to manage money since the onset of the pandemic.

The year shareholder meetings went virtual

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Discover Financial Services and Bank First in Wisconsin, two of the many companies that went all-remote with their annual meetings this year, gave the process high marks. Corporate governance Discover Financial Services Broadridge Digital Banking 2020

Citi sees surge in corporate online account opening amid pandemic

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The quarantine and Citi's shift from hardware to software tokens have led to a 300% spike in commercial clients' opening of accounts online as well as increased digital banking use. Digital banking Citigroup Digital Banking 2020

Bank of America's patent machine keeps rolling

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Digital banking Bank of America Online banking Mobile banking Virtual assistants Digital Banking 2020BofA, which has applied for or been granted thousands of patents, has been working recently on technologies that analyze spending patterns to give budgeting advice and use augmented reality to provide estate-planning services.