PYMNTS

OCTOBER 15, 2020

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

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PYMNTS

OCTOBER 16, 2018

Goldman Sachs booked a 4 percent year-over-year revenue increase for the third quarter of 2018, with that growth powered in part by increased lending through its Marcus by Goldman Sachs online consumer savings and lending platform. Q3 revenue for the investment bank hit $8.65

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PYMNTS

JANUARY 7, 2021

Customers of Simple Bank are receiving emails telling them the bank is closing and that the intent is to transfer them to BBVA , a report from Talk Android says. After Simple Bank launched as an online bank specializing in high-interest savings accounts, the current economic climate ended up making it unfeasible.

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PYMNTS

OCTOBER 17, 2019

Online banking startup Chime has been hit with an outage that has left its 5 million customers with no access to their money. The outage has been going on for the last 24 hours, taking down the company’s website and app, as well as shutting down customers’ debit cards. Earlier this year, it reached a valuation of $1.5

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Gonzobanker

AUGUST 17, 2022

Then, bad grades came in right as summer party season kicked off, mom and dad took away the car and credit card, and the Venmo transfers came to a screeching halt. Lending Tech With Almost Steady Grades (Even With Rough Semesters). First, there was the drama leading up to the breakup with the rich hottie.

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PYMNTS

AUGUST 6, 2020

As bank-FinTech collaborations evolve, more traditional financial institutions (FIs) are not only implementing services and technologies developed by FinTech partners, but they’re also lending their own expertise to augment FinTech solutions. Morgan Enhances Virtual Cards Via Marqeta. In another bank-FinTech tie-up, J.P.

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PYMNTS

JUNE 13, 2018

Barclays announced that it has appointed Shane Holdaway as the company’s CEO of its cards and payments division in the U.S. For the past five years, Holdaway was the president of Capital One’s Canadian division, and played a leading role in the company becoming the exclusive credit card issuer for Costco Wholesale Canada.

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PYMNTS

OCTOBER 12, 2017

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. Credit card sales and merchant volumes were up 13 percent.

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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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PYMNTS

JANUARY 7, 2020

That unit will include the company’s online lending platform, Marcus , and credit card business, the latter of which is done through a joint venture with Apple. Consumer banking, overall, contributed $217 million in the September quarter, slightly above the $216 million reported in the June 2019 quarter.

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PYMNTS

JANUARY 7, 2020

That unit will include the company’s online lending platform, Marcus , and credit card business, the latter of which is done through a joint venture with Apple. Consumer banking, overall, contributed $217 million in the September quarter, slightly above the $216 million reported in the June 2019 quarter.

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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 In the home lending segment, the company saw two-thirds of applications done digitally. million during the quarter.

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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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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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NCR

JULY 28, 2017

This convenience offers many advantages to the consumer, but financial institutions and consumers need to recognize one of the biggest disadvantages of this technological expansion: the increased risk of digital banking fraud. Digital banking fraud affected 14 percent of consumers in 2016, up from 12 percent in 2015.

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PYMNTS

FEBRUARY 14, 2020

China’s central bank gave Mastercard the green light on Feb. 11 to set up a bank card clearing business, providing it with access to a $27 trillion payments market. The People’s Bank of China said it has approved an application by Mastercard’s Chinese joint venture to run a bank card clearing business in the nation.

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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. Radius Bank is not in the lending market, but has $1.4 The LendingClub Deal.

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PYMNTS

SEPTEMBER 29, 2020

Credit unions of various sizes were eager to roll out credit card innovation plans before the COVID-19 pandemic’s onset. These expectations also drove CU executives’ innovation agendas, with 91 percent voicing serious interest in developing card product innovations. percent planned to unveil mobile wallet-enabled cards.

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PYMNTS

JANUARY 20, 2020

With an eye on segment performance, she said JPMorgan Chase card, merchant services and auto revenue were up 9 percent driven by higher card NII on loan growth as well as the impact of higher auto lease volumes. Overall, international and North American consumer banking were up 4 percent, as measured by year-over-year revenue growth.

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American Banker

NOVEMBER 10, 2016

UpLift is the latest Silicon Valley startup seeking to peel off a slice of the $1 trillion credit card market.

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Javelin Strategy & Research

NOVEMBER 7, 2023

Banner Section Home Rss.xml 2024 Trends & Predictions Javelin’s Trends & Predictions reports look at the coming year across the range of Javelin Strategy & Research’s practice areas—digital banking, fraud & security, payments, and wealth management—and highlight the compelling challenges and opportunities likely to emerge.

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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

OCTOBER 15, 2020

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

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PYMNTS

OCTOBER 1, 2020

In the inaugural edition of the Banking As A Service Playbook: Powering The Next Generation of FinTech Innovation series, PYMNTS examines the trends and technologies that are helping banks, FinTechs and corporations capitalize on the shift to digital banking and payments. Around The BaaS World.

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Bank Innovation

NOVEMBER 8, 2016

For all the talk of banks going digital, few major brands have launched digital offshoots — in the U.S., based Customers Bank, and that’s about it. In Europe, there are more examples — two prominent ones are Hello bank! There is BankMobile, launched from Wyomissing, Pa.-based

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PYMNTS

JANUARY 15, 2021

But presentation materials that accompanied the results showed that of the reserve released in the quarter, $900 million came from the consumer side of the book, so to speak, and were released from home lending. Reserves were held flat on the card business, standing currently at $17.8 Card average loans stood at $141.2

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Chris Skinner

APRIL 23, 2017

A summary of the main blogs of the week … Arguing with a banker … A banker and I were talking about the function of a bank. The more I think about … An interview with yours truly on today’s issues for banks I was recently asked a set of questions by.BANK and duly answered.

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Independent Banker

AUGUST 31, 2021

of digital banking customers said they switched to digital banking because of the pandemic. Source: 2021 Provident Bank survey. These days, there’s a lot to contend with as a community bank, from changing consumer behaviors due to the pandemic to uncertainty surrounding the economy and inflation.

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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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PYMNTS

SEPTEMBER 9, 2019

JD.com and the biggest retailer in Thailand, Central Group, have launched a financial services app called Dolfin to help connect with local banks and increase the companies’ online presence, according to a report by Reuters. The app has e-wallet capabilities, digital lending services and wealth and insurance management.

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PYMNTS

JUNE 10, 2020

The move comes out of Amazon’s initial effort to build a lending marketplace for its sellers, where many lenders would compete to make business credit offers, sources familiar with the situation told CNBC. Our team exists to fuel seller growth, period,” Ragui Selwanes , head of Amazon Lending, told CNBC. percent to 20.99

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PYMNTS

OCTOBER 22, 2019

PayPal is expanding its small business lending operations into Canada. PayPal pointed to the product’s streamlined online application process, which allows small business owners to receive a decision within a few minutes. .” In a press release issued on Monday (Oct. In the U.S.,

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PYMNTS

JUNE 17, 2019

Instant collections from bank accounts via open banking rails provides a significantly lower cost alternative to cards for eCommerce merchants, as an example, and hence merchants can use incentive options at their disposal as one way to promote user adoption. API Aggregation. 14 deadline?

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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. Investment banking. First name.

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PYMNTS

JULY 18, 2018

The investment bank, which has made major advances to bolster its digital investments, continued moves to bolster its increasingly important digital expansion, including its Marcus by Goldman Sachs online consumer savings and lending platform. Goldman Sachs said net income jumped $2.57 billion, compared with $1.83

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PYMNTS

SEPTEMBER 23, 2020

The San Francisco-based digital mortgage and loan platform on Wednesday (Sept. 23) announced its expansion into consumer banking to include personal loans and credit cards. The cash will be used to grow its online mortgage, consumer loan and deposit accounts, the company said.

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BankBazaar

JUNE 3, 2020

A neo-bank has a complete online presence and unlike other banks, doesn’t have any physical branches. Considered to be a more nimble version of old-fashioned banking, neo-banks appeal to a more digital-savvy generation like millennials. The post What Is A Neo-Bank? Explore BankBazaar.

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