Remove Cards Remove Digital Banking Remove Lending Remove Mobile
article thumbnail

Q4 Earnings Reports Show Mobile Banking’s Surge

PYMNTS

One common theme amid bank earnings — beyond lofty trading revenues gleaned from Wall Street — has been the increased uptake of mobile banking. Stats from banks, pretty much across the board, have given evidence that consumers have been pivoting to their mobile devices to attend to their everyday financial needs.

Mobile 252
article thumbnail

MoneyLion Launches Advanced Mobile Banking

PYMNTS

MoneyLion , the New York-based mobile bank, announced the launch of RoarMoneySM, a demand deposit account powered by MetaBank N.A. with Mastercard as its exclusive card network. RoarMoney promises faster access to customer funds and secure contactless payment options.

Mobile 175
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Credit Unions Unite Behind Digital Banking

PYMNTS

Strong balance sheets in key areas like credit card debt ($64.4 But change is in the air, and it’s the intoxicating scent of digital transformation. Specifically, the metamorphic impact of mobile open banking and instant payments has been the first real test of the trust bond that holds CUs together.

article thumbnail

Bank of America, Citi, Wells Earnings Point To Uptick In Consumer Card Spend

PYMNTS

But bank earnings are showing that loan loss reserves were more conservative than needed (at least for now) and that in some cases, consumer spending and card activity might be emerging from the most recent depths spurred by the pandemic. But cards purchase sales, globally, were up 17 percent quarter over quarter to $127 billion. “We

America 220
article thumbnail

Wells Fargo Sees Some Credit And Debit Card Gains Amid Generally Bad Q3

PYMNTS

On the plus side, Wells Fargo reported that card fees rose to $912 million in the third period, up from $797 million in second quarter. The bank said that was predominantly due to increased consumer spending. Wells Fargo also saw heightened debit card usage during Q3. Debit card point-of-sale purchase volume hit $102.9

Cards 206
article thumbnail

JPMorgan Q3 Sees Strong Card Spend, Mobile Growth In Double Digits

PYMNTS

Banking giant JPMorgan reported results that bested Wall Street estimates on Thursday, buoyed in part by strong growth in its card business and mobile initiatives. In the consumer and community banking segment, revenues were up 6 percent year on year to $12 billion. Revenues were $26.2 percent year over year.

Cards 109
article thumbnail

InstaReM CEO On Why They Want A Digital Banking License

PYMNTS

InstaReM is currently preparing to apply for one of five (two retail, three wholesale) digital banking licenses that the city-state of Singapore announced it would be issuing earlier this month. The appeal of the banking license is it ensures the fact that they can provide the full spectrum of services,” he said. “The