PYMNTS

AUGUST 4, 2020

To that end, BBVA was one of six banks that said on Monday (Aug. 3) that it would work with Google to deliver “smart” digital bank accounts, using Google Pay as an app-driven way to broaden its digital reach and improve users’ experiences with their financial institutions (FIs).

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Google Digital Banking Course Branding 298

PYMNTS

JANUARY 7, 2021

Talk Android posts a letter from the company in which it says there will be "no immediate impact" to accounts and that users don't need to do anything right now, with their funds housed in FDIC insured accounts with BBVA. And, the company says it wants to make the transition "as smooth as possible" for customers.

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FDIC Google User Experience Lending 336

Bank Innovation

FEBRUARY 12, 2020

The growth of mobile and digital banking is driving in-store branch numbers down. In-store branches are satellite bank branches located inside large retail spaces, such as supermarkets or chains like Walmart and Safeway. since June 30, 2019, and 6.5% since June 30, 2018, S&P Global Market Intelligence reported.?

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FDIC US Retail Digital Banking 243

PYMNTS

JULY 16, 2019

Among the latest examples, N26 , which is a digital-only bank based in Europe, has entered the US market through partnership with Axos Bank in order to offer FDIC insured accounts.

Digital Banking 101

Digital Banking US FDIC Cards 101

PYMNTS

DECEMBER 10, 2019

N26 partners with Axos Bank to offer a Visa debit card and FDIC-insured checking account. Since the initial product launch in 2015, N26 has reached more than 3.5 million customers in 25 markets in Europe. N26 started rolling out in the U.S.

Digital Banking 131

Digital Banking Cards US FDIC 131

CB Insights

AUGUST 3, 2021

California-based Mercury is an online banking platform that offers a suite of financial services such as FDIC-insured bank accounts, physical and virtual cards, and cash management for startups, e-commerce stores, and angel investors, among others. HOW’S THE COMPANY PERFORMING? Want the full post?

Digital Banking 73

Digital Banking Company FDIC California 73

CB Insights

JANUARY 5, 2021

In the past few years, the burgeoning popularity of digital banks has only underscored the severity of these problems, with upstarts like Chime and SoFi offering cheaper, faster, and more convenient banking experiences. . get the state of challenger banks report. Source: FDIC. Source: PwC. The unbanked/underbanked.

Digital Banking 98

Digital Banking US Online FDIC 98

FICO

APRIL 7, 2022

Following the highly successful The 11 Commandments of Digital Banking eBook , we are publishing a series of 5 deeper dive blog posts that group the 11 Commandments below into common themes: Digital lift-and-shift is not a strategy! Small touches (such as an FDIC logo and lock/shield icons) can make an enormous difference.

Digital Banking 52

Digital Banking Security Fraud America 52

Bank Innovation

JANUARY 26, 2020

New York City-based Grasshopper Bank is geared toward startups, with a focus on pain points for founders. Grasshopper opened in May 2019 after securing FDIC and OCC approval, a rare distinction for a digital-only bank.

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New York City FDIC New York Innovation 243

PYMNTS

JULY 30, 2019

That is why, MoneyLion Founder and CEO Dee Choubey said , his firm has set out to build a bank that isn’t a bank. In the sense that it is a bank, MoneyLion takes deposits and makes sure those deposits are FDIC insured through a backend partnership with a traditional bank, Choubey said.

Digital Banking 190

Digital Banking ATM Study FDIC 190

CFPB Monitor

DECEMBER 19, 2019

The OCC and FDIC have issued a joint proposal to revise their regulations implementing the Community Reinvestment Act (CRA). Although the Federal Reserve, OCC and FDIC, are the primary CRA regulators, the Fed did not join the proposal and presumably will issue a separate proposal. ” Click here to register. Our thoughts.

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FDIC Regulation Community Retail 78

American Banker

NOVEMBER 19, 2020

American Challenger Bank would offer consumer and commercial products using technology from Temenos. Organizers recently applied with the FDIC for deposit insurance.

Digital Banking 46

Digital Banking FDIC Technology 46

PYMNTS

MAY 28, 2020

Hispanic immigrants access digital banking services, according to a press release. Hispanic immigrants have access to actual banking services, the release states, citing an FDIC survey. Less than half of U.S.

Mobile 248

Mobile US FDIC Survey 248

BankInovation

OCTOBER 1, 2020

households unbanked or underbanked according to data from the FDIC, fintechs have long promised better financial access, whether through online lending that looks beyond traditional credit underwriting or digital banking startups with fewer fees. With more than one-quarter of U.S.

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Fintech FDIC US Lending 98

BankInovation

OCTOBER 1, 2020

households unbanked or underbanked according to data from the FDIC, fintechs have long promised better financial access, whether through online lending that looks beyond traditional credit underwriting or digital banking startups with fewer fees. With more than one-quarter of U.S.

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Fintech FDIC US Lending 98

PYMNTS

FEBRUARY 18, 2020

The bank is one of a few smaller lenders that has teamed up with FinTechs who need services only an FDIC-regulated institution can provide. This is the first time a FinTech has purchased an actual bank. Recently, Varo Money , a mobile bank, got FDIC approval to accept consumer deposits.

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Fintech FDIC Boston Lending 242

The Financial Brand

FEBRUARY 10, 2020

Fintech's patience paying off as it nears final hurdles, setting stage for major new digital banking competitor. The post FDIC Greenlights Mobile-First Fintech Varo Money for Deposit Insurance appeared first on The Financial Brand.

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FDIC Mobile Fintech Digital Banking 27

PYMNTS

AUGUST 22, 2016

Digital alternatives may rid the world of some of life’s inconveniences, but for the banking sector, a trip to the local branch is not yet replaceable. Although consumers are increasingly turning to digital banking services, many still cling to the services of their brick-and-mortar counterparts — the stalwarts of the finance industry.

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FDIC Data Digital Banking Operations 100

PYMNTS

NOVEMBER 9, 2020

The Tracker also examines how mobile and instant disbursement tools could be essential to making sure these individuals are still able to participate and transact within the digital banking world. percent in 2019, its lowest rate in a decade since the FDIC first began tracking this statistic in 2009.

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Tools Mobile FDIC Examples 203

PYMNTS

DECEMBER 16, 2020

FIS Powers Launch Of Quontic Bank’s Bitcoin Rewards Account. FIS, the bank software and payment technology firm, unveiled a collaboration with Quontic Bank on the Bitcoin Rewards Checking Account. The rollout makes Quontic “the first FDIC insured financial institution in the U.S. Aeldra’s U.S.

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Bitcoin FDIC Cards California 157

PYMNTS

SEPTEMBER 4, 2019

Chime , a digital banking startup based in San Francisco, said it has reached a threshold of five million customers and plans to introduce a new overdraft initiative to help them, according to a report. The startup is an FDIC-insured mobile bank that has no physical branches and pledges to offer customers fewer fees.

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San Francisco FDIC Digital Banking Mobile 109

PYMNTS

JUNE 9, 2020

percent APY, an optional auto-deposit, no fees or minimums, and security as “Affirm Savings is FDIC-insured and accounts are held by our bank partner, Cross River Bank, member FDIC,” per the announcement. The Affirm Savings account comes with 1.30

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FDIC Millennials Google Payments 151

American Banker

FEBRUARY 20, 2020

The agency said it wants feedback on changing its ubiquitous logo greeting customers at branches and ATMs to address technological changes, shifting consumer behaviors and bank-nonbank partnerships.

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FDIC ATM Technology Digital Banking 73

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 post Reacting Quickly to SVB Fallout, Mercury Launches Vault, with $5M FDIC Deposit Insurance first appeared on Fintech Labs SMB Center. Related: Top 15 U.S.

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FDIC Online Tools Digital Banking 15

PYMNTS

AUGUST 13, 2019

Digital banking startups are popular in Europe, dangling low fees and mobile apps to attract more customers. Challenger banks have raised $100 million worldwide in the second quarter and are the fastest-growing FinTechs, Lindsay Davis, a senior intelligence analyst at CB Insights, told the FT. .

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FDIC Millennials Capital Fintech 164

Fintech Labs Insights

APRIL 6, 2023

Case in point: Just days after the Feds took over SVB, Mercury was in market with its Mercury Vault, offering $5 million in FDIC insurance by distributing balances across 20 insured banks. Online Digital Bank Savings & Treasury Accounts for Small Business (SMB) first appeared on Fintech Labs SMB Center.

Digital Banking 15

Digital Banking Online FDIC San Francisco 15

PYMNTS

APRIL 24, 2020

The investment also sees Malaysia-based V Capital establishing a strategic partnership with the bank to help it expand throughout Southeast Asia as it seeks its own Digital Bank License in Malaysia. Cross River Bank aims to connect FinTechs and corporates like Amazon and Google with digital banking, lending and deposit services.

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Fintech Capital Security FDIC 193

The Financial Brand

FEBRUARY 10, 2020

Fintech's patience paying off as it nears final hurdles, setting stage for major new digital banking competitor. The post FDIC Greenlights Mobile-First Fintech Varo Money for Deposit Insurance appeared first on The Financial Brand.

FDIC 15

FDIC Mobile Fintech Digital Banking 15

American Banker

FEBRUARY 10, 2020

but it has now moved within a few steps of obtaining what has eluded fintech firms of late: a green light from banking regulators. It was Varo's second try with the Federal Deposit Insurance Corp.,

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FDIC Regulation Fintech National 70

Fintech Labs Insights

JUNE 26, 2023

Case in point: Just days after the Feds took over SVB, Mercury was in the market with Mercury Vault , offering $5 million in FDIC insurance by distributing balances across 20 insured banks. Looking for digital banks, lenders, payment providers, insurance or digital accounting for small businesses?

Digital Banking 15

Digital Banking Online FDIC San Francisco 15

PYMNTS

AUGUST 28, 2019

The banking platform is designed for mobile devices and API connectivity, with NorthOne noting that development partner Treasury Prime designed that API technology to streamline account opening and management. Last year, the Canada-based company raised $2 million from investors Peter Graham, Tom Williams and Ferst Capital Partners.

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Mobile FDIC Tools Taxes 144

PYMNTS

MAY 15, 2019

Safra Bank to offer its traders deposit accounts backed by the Federal Deposit Insurance Corp. FDIC) — the FDIC-insured accounts will be linked to a crypto prime dealer. “These are quite different from speculative assets like bitcoins, and more promising.”. And SFOX is partnering with New York-based M.Y.

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Samsung blockchain Bitcoin FDIC 191

PYMNTS

AUGUST 22, 2016

Which is a bit of a problem, since there are objectively fewer banks now than there were even five years ago. According to the FDIC, banking branches are at their lowest level in a decade with only 93,283 left open. Physical banks reportedly hit their peak in 2009 and have declined 6 percent since then.

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FDIC ATM Community Bank Digital Banking 100

PYMNTS

DECEMBER 11, 2020

The FinTech partnered with Metropolitan Commercial Bank for FDIC backing of deposits up to $250,000. “As The startup reminded people that cryptocurrencies are not regulated in the U.K. by the FCA and are not protected by the Financial Services Compensation Scheme. In March, Revolut launched in the U.S. to meet demand, the company said.

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cryptocurrency blockchain FDIC Bitcoin 214

Bank Innovation

FEBRUARY 11, 2020

This week, digital banking startup Varo received approval from the Federal Deposit Insurance Corporation, a significant milestone in the company’s three-year quest to become a bank.

Digital Banking 293

Digital Banking Company Innovation Strategies FDIC 293

American Banker

APRIL 16, 2020

The plan first announced in February to update the deposit insurance sign and logo at bank tellers and ATMs became just the latest regulatory effort slowed by the coronavirus pandemic.

FDIC 47

FDIC ATM Digital Banking 47

Perficient

AUGUST 9, 2022

Mike Randall, a co-founder of Greenwood, wanted to address the specific issue of bank branches being replaced by check cashing places that charge absurdly high-interest rates. To offer another example of a bank consciously aimed at supporting the underserved, Forbes just recognized Quontic as the number one “best overall online bank.”

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Community Customer Experience ATM Examples 275