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S&P: US banks relying less on big-box stores to house branch locations

Bank Innovation

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 Greenlights Mobile-First Fintech Varo Money for Deposit Insurance

The Financial Brand

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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Varo’s bank charter process a test for consumer banking startups

Bank Innovation

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.

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FDIC Greenlights Mobile-First Fintech Varo Money for Deposit Insurance

The Financial Brand

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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Seeking Banking Balance Between Physical And Digital

PYMNTS

Chase, Wells Fargo, Bank of America and Citi, to name a few, all scaled back their physical bank branch locations between 2012 and 2016, according to the Federal Deposit Insurance Corporation (FDIC). Additionally, if recent trends are any indication, physical bank branches stand to lose a lot of ground in the near future.