Fintech Labs Insights

APRIL 4, 2023

Within days of the fall of Silicon Valley Bank, challenger small-business banking provider Mercury , was in market with a timely solution to deposit insurance stress. The new Mercury Vault ( company announcement , 13 March 2023 ) includes $5M of FDIC insurance (achieved by shipping deposits in excess of $250k to a network of 20 banks).

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FDIC Online Tools Digital Banking 15

PYMNTS

NOVEMBER 14, 2019

There’s a lot of competition to capture the $6 trillion in online payments for U.S. Marketplaces and their partners want to satisfy consumers who are comfortable with the convenience of online shopping. According to an FDIC study , 6.5 It’s easy to get caught up in the hype of new sharing economy platforms. “ percent of U.S.

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Payments United States Online Google 124

PYMNTS

JULY 25, 2019

market as an example of the co-existence and collision of cash and digital payments. Other options, such as credit cards and payment apps like Venmo , are increasingly gaining traction. FDIC) estimated that 6.5 The challenge comes when payment preferences vary widely from market to market,” Ives said.

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Payments Innovation Examples FDIC 189

PYMNTS

JULY 14, 2020

That alternative method of paying for purchases “on credit” got a boost with news this week that Visa Installments , a new point-of-sale (POS) credit solution, is being rolled out in pilot markets across the U.S. This follows a pilot rollout in Russia last month. Fast and Furious BNPL Action. The account comes with 1.30

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Lending FDIC Minneapolis Utah 130

PYMNTS

JANUARY 26, 2021

And they really are ready to go to market.”. The company's crypto debit card, BlockCard , has seen 500 percent growth in usage rates, measured year over year. The company also offers an FDIC-insured checking account to help spur crypto-friendly banking, Johnson noted. “If They may or may not have had an online presence.

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cryptocurrency Bitcoin blockchain FDIC 256

Fintech Labs Insights

APRIL 6, 2023

Are we about to see a rush of fintech startups serving the interest-sensitive small business market? But what we will see is the challenger banks dusting off their sweep features and emphasizing them in their marketing and branding. Online Digital Banks for Small Businesses (SMB) April 2023 The post Top U.S.

Digital Banking 15

Digital Banking Online FDIC San Francisco 15

Fintech Labs Insights

JUNE 26, 2023

Are we about to see a rush of fintech startups serving the interest-sensitive small business market? But what we will surely see is challenger banks dusting off their sweep features and emphasizing them in their marketing and branding. Maybe, maybe not. 2021 SF $14 12,000 Source: FintechLabs, Crunchbase, SimilarWeb, 26 June 2023 1.

Digital Banking 15

Digital Banking Online FDIC San Francisco 15

MyBankTracker

DECEMBER 7, 2020

This online business checking account is best for small- to medium-sized businesses with simpler banking needs and a low-cost account to keep their business finances separate from personal finances. To sweeten the deal: Your account balance (up to $100,000) earns a market-leading interest rate. Earn a Market-Leading Interest Rate.

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ATM FDIC Cards Examples 52

PYMNTS

JUNE 19, 2020

FDIC: US Banks See Chargebacks Soar, Profits Tank Due To Pandemic. The newest Cross-Border Merchant Friction Index explores which checkout features international online shopping retailers can prioritize when they design their checkouts. Visa, Facebook Link Up For P2P Payments, eCommerce On WhatsApp. The profits just hit $18.5

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Payments United States FDIC Retail 151

Fintech Labs Insights

NOVEMBER 10, 2023

Consumers have been banking online for 28 years. The first, online bank Security First Network Bank (SFNB) launched in 1995, just a year after Amazon.com. The legacy players held their market share by providing digital services deemed “good enough” to retain customers loath to switch banks. Looking for small business resources?

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Digital Banking Online Atlanta Las Vegas 15

PYMNTS

MARCH 18, 2019

The accounts come with debit cards, digital payments and free check cashing, but do not allow overdrafts.”. According to the Federal Deposit Insurance Corporation (FDIC), the percentage of unbanked Americans fell to its lowest level since the 2007-2009 financial crisis. a month and no minimum balance,” according to Reuters.

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America Survey FDIC System 175

Abrigo

JANUARY 22, 2015

Over the first half of 2014, these banks, with an approval rate of just under 60 percent, beat out large national banks (31 percent), large regional banks (45 percent) and online lenders (38 percent). The most popular financing products for which small businesses applied included lines of credit, business loans, credit cards and SBA loans.

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Community Bank Community Regional Cleveland 150

MyBankTracker

DECEMBER 17, 2020

Earn a market-leading interest rate. American Express High Yield Savings Accoutn Earn a market-leading savings rate. Ally Bank Online Savings Account Useful savings tools and features. Discover Online Savings Consistently competitive savings rates. BMO Harris Platinum Money Market Market-leading money market rate.

ATM 52

ATM Cards FDIC Online 52

Fintech Labs Insights

OCTOBER 14, 2021

The startup, launched in 2017, found early product-market fit and has become one of the fintech darlings of the past few years. High-limit (non-revolving) charge cards (based on bank account balance, not founder(s) personal credit history. Money-market account. FDIC insured deposits ($250k). Emigrant Bank — Card issuer.

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Cards FDIC Fintech Software 15

MyBankTracker

AUGUST 5, 2020

PSECU is a Pennsylvania-based credit union with a digital-first approach that allows it to provide attractive products and services – rivaling the best on the market. And PSECU offers a long list of products that can rival the best on the market. The most notable are: Founder’s Rewards Card. cash rewards (minimum 1.5%

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Pennsylvania ATM FDIC Cards 52

Celent Banking

NOVEMBER 17, 2015

Many of the top FinTech companies—Square for card acceptance, Stripe for e-commerce, and Kabbage for business loans, have gained prominence serving primarily small businesses. Online small business lending by direct credit providers has especially taken off. Let’s take a look at data compiled by the FDIC starting in 2010.

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Report FDIC Lending Fintech 100

MyBankTracker

NOVEMBER 19, 2020

banks and it also happens to be one of the biggest online banks (based on domestic deposits). Offers market-leading savings rates No ATM access for Savings Build and Money Market Account. CIT Bank offers an online checking account, online savings accounts, certificates of deposit (CDs), a money market account, and mortgages.

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Banking 2020 ATM Online Marketing 52

PYMNTS

JULY 16, 2018

This week, the lucky winner is Macy’s , which disclosed to the world that hackers had obtained names and passwords of online customers — and might have accessed credit card numbers and expiration dates as well. The Citizen Access digital bank will also be marketed separately from Citizens’ current branch footprint.

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Cards Data Digital Banking Retail 100

PYMNTS

OCTOBER 30, 2019

“While adoption for consumer accounts is enhanced through regulatory drivers, adoption for business accounts is based on market interest,” she stated in her presentation at the Association for Financial Professionals’ AFP 2019 event. Though open banking is not a regulatory mandate in the U.S., Banks, FinTechs Team Up.

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Lending Fintech America Data 102

MyBankTracker

FEBRUARY 23, 2021

Instead of heading to a branch, they let you manage your money completely online. The spending account is a deposit account that comes with: Visa debit card access. FDIC-insured protection. With SpotMe, Chime will spot you up to $100 on debit card purchases with no overdraft fees. Secure your card instantly.

ATM 52

ATM Cards Mobile Online 52

PYMNTS

JULY 15, 2016

When Amazon, the largest retailer by market cap, says that it had its best day ever , it’s hard not to call that a sizzle – and then some. Even Amazon competitors like Macys, Target and even Best Buy reported that their sales rose that day by 13 percent or more – as they rode the Prime Day draft and put their own offers in market.

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Retail FDIC Bitcoin Lending 100

CB Insights

DECEMBER 4, 2019

In parallel, Amazon has made several fintech investments, mostly focused on international markets (India and Mexico, among others) where partners can help serve Amazon’s core strategic goal. Market strategy outside the US. Increase the number of customers on Amazon, and enable each customer to spend more. Closing thoughts.

Cards 101

Cards Lending Strategy US 101

PYMNTS

OCTOBER 1, 2018

The DOJ investigation centered on whether LendingClub had – between January 2009 to September 2010 – misled its FDIC-insured loan originator, WebBank , leading the bank to underwrite over 200 loans that did not conform to the bank’s lending requirements. The DOJ Finding. Attorney Alex Tse. “We The Response. billion.

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Lending Fraud Management San Francisco 135

CB Insights

JUNE 5, 2018

More importantly, users don’t need a credit card, bank account, credit history, or minimum balance to open an M-Pesa account. Consumers like perks offered by card companies, merchants have bought in, and banks and payments players are happy to provide the infrastructure in exchange for a piece of the pie. First Name. The road ahead.

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Payments Cards US Mobile 68

Independent Banker

JUNE 30, 2022

Using FDIC data for 2021, we calculated a lender score out of 100 for each community bank. He sensed the family’s passion and liked their idea of starting with selling milk at farmers’ markets, roadside shops and small grocery stores. Two years ago, Lead Bank and Self expanded the program to include a secured credit card.

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Community Bank Community National Philadelphia 172

PYMNTS

OCTOBER 26, 2018

According to new data from CCS Insight, the global wearables market will double in the next four years, hitting a value of $27 billion and 233 million units in sales. Upon implementation of the completed version, the spec would help establish a way for card payments to be made across digital platforms, websites and mobile means.

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Samsung Apple Study Report 134

NCR

DECEMBER 18, 2015

The service works with any Apple or Android device, at any checkout lane, and with any major credit, debit, pre-paid or Walmart gift card. The fact that 22 million consumers already use the Wal-Mart app every month means it has a potential head start in this key market. As we all know, that market is already crowded.

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Apple Retail FDIC Mobile 40

MyBankTracker

DECEMBER 4, 2020

This account, offered through the online platform SaveBetter, has an interest rate that exceeds rates found at most other banks. This is an online platform that provides access to online savings accounts. SaveBetter accounts are FDIC-insured. A Ponce Bank high-yield savings account is powered by SaveBetter.

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Mobile Online FDIC Management 52

Banking 2020

SEPTEMBER 24, 2014

The company just offered details on GoBank, a new service that, starting in late October, will team up with Green Dot (best known for its prepaid payment cards) to offer checking accounts to just about everyone. Similarly, online retailers requiring less infrastructure represent vicious competition.

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Apple Retail Course FDIC 71

Bank Innovation

FEBRUARY 18, 2019

Aura, a San Francisco-based fintech offering affordable loans to low to moderate-income households, wants to partner with banks to offer those loans to consumers who have traditionally been unable to secure them from larger institutions.

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San Francisco Fintech Innovation Security 186

PYMNTS

SEPTEMBER 21, 2020

And in PYMNTS’ own coverage, the twin external forces of regulatory scrutiny and market pressures are pushing FIs to retool and strengthen their anti-money laundering (AML) efforts. In one example, reported on Monday (Sept. billion in fines. Much of those revamped efforts come, perhaps not surprisingly, through advanced technologies.

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Fraud Report System FDIC 347

Javelin Strategy & Research

FEBRUARY 23, 2015

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. Digit is an FDIC-insured automated savings account. You must open your account online – there’s no mobile app. Americans care about their money – a lot. They want to know where it goes.

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Management Taxes Mobile America 40

William Mills

SEPTEMBER 9, 2016

Targeted at Marketing, execs, lines of business owners, etc. You can look at life events such as marriage, credit card, new job, etc. 2015 formed aspire to address inefficiencies in alternative lending market. Working for the past 6 years with many banks to design their online experience. All options are possible.

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social media ATM Mobile Customer Experience 40

MyBankTracker

AUGUST 12, 2020

Personal Capital is an online wealth management concept that started in 2009. For their free tools to work, it makes the most sense to link your financial accounts and credit cards to Personal Capital. The cash account is an FDIC insured financial account, but the APYs are rock bottom. This is done securely. Smart Weighting.

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Tools Capital Management Taxes 52

PYMNTS

MAY 2, 2016

Venmo is not alone in its market space — Square, Google and Facebook all offer competing P2P services — through Venmo is, by far, the segment leader. Walmart gift cards also work in-app. Venmo also finds itself in the company of digital and mobile-based financial services firms that caught the officially eye of regulators last week.

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Software Mobile Regulation FDIC 100

PYMNTS

NOVEMBER 2, 2020

Across the last 10 years, he said, a range of players have entered the online investing market, leveraging features such as commission-free trading, fractional investment and minimum accounts. Ganu offered up a use case as illustration: The user who deposits a hypothetical $1,000 into their Finch account receives a Finch debit card.

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Millennials Fintech Course FDIC 221