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Little Bó peeps … creeps … and sleeps … why big banks fail at digital banks

Chris Skinner

In the latest example of a bank that couldn’t hack the digital bank market, RBS gave up on Bó last week. It surprised me as the bank only launched last November, to a fanfare of £100 million investment and the acquisition of the start-up they had been co-funding, Loot.

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The Next Killer Digital Banking Feature Doesn’t Come from Being ‘Boring’

Gonzobanker

According to Cornerstone’s Digital Banking Performance Metrics study, the percentage of new accounts opened in digital channels dropped for the second straight year. That’s not what’s happening with digital banks and fintech firms. Some digital banks in the U.K., Nor is it a winning strategy.

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Millennial-Focused Digital Bank Empower Finance Raises $20M

PYMNTS

The system analyzes account holders’ bank and credit card accounts and provides a spending analysis, along with recommendations for how much they should save into which account, how to cut costs and what to do when they overspend. The digital banking field is fraught with competition.

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Digital Banking Gaining Scores Of New Users

PYMNTS

Migration to mobile and digital banking ramped up during the pandemic. It’s one of numerous revelations in PYMNTS’ Leveraging The Digital Banking Shift Report , a collaboration with Feedzai , based on a survey of nearly 2,200 U.S. For example, having been victimized by fraud before makes people reticent and affects usage.

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Digital Banking, With Millennial, Mobile – And Governmental – Tailwinds

PYMNTS

The push toward digital banking seems an inexorable one, with the technology and demographics acting as tailwinds, and where governments have increasingly gotten into the act of promoting digital banks (the pure-play kind) and making forays into bits and bytes, where once paper and face-to-face transactions reigned.

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Cuscal On Digital Banking Done Down Under

PYMNTS

In banking and payments architecture, especially in the digital realm, a corollary might be “form and function co-exist, and should be flexible enough to change rather quickly.”. Early next year, 86 400 — representative of the number of seconds in a day — will come to market, branchless and backed by the payments provider.

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Finding the Human Touch in an Increasingly Digital World

Accenture

The spike in demand for digital banking experiences caused by the COVID-19 pandemic has already reshaped the global banking industry. As our recent Global Banking Consumer Study found, the pandemic has driven a huge shift towards digital interactions in every market.

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