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Brex Offers FDIC Insurance, Adds Chief Legal Officer

PYMNTS

Brex , the San Francisco financial technology startup, is offering FDIC insurance on its no-fee cash management account, the company announced Wednesday (July 22). The new feature in Brex Cash allows customers the choice to hold cash savings with FDIC insurance, or invest in Money Market Funds.

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5 Banking Trends We’re Forecasting for 2023

Perficient

User experience. According to the Federal Deposit Insurance Corporation (FDIC), in 2000, there were 8,000 commercial banks in the United States, but as of March 2022, that number had dwindled to 4,194 operating physical bank branches. Another example is Eno , Capital One’s virtual assistant.

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Neobank Joust Raises $2.6M To Improve Freelancer Payments

PYMNTS

The bank combines an FDIC-insured account and a merchant account and accepts a variety of payments. Freelancers require credit and banking products that mirror the user experience of the consumer market but [offer] the product sophistication of the small business market,” said Dave Fields, founder and managing partner of PTB Ventures.

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The Only Thing to Hate About Personal Finance Management Is the Term ‘PFM’

Javelin Strategy & Research

It’s a term that causes many bankers to lock up mentally because they can’t envision a way for personal finance management to escape the historical shackles of old-fashioned PFM in a tab. But just because consumers don’t want PFM in a tab doesn’t mean they don’t want personal finance management in online and mobile banking.