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.

FDIC 78

FDIC Regulation Community Retail 78

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.

New York City 243

New York City FDIC New York Innovation 243

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.

Fintech 193

Fintech Capital Security FDIC 193

Gonzobanker

MAY 4, 2020

As Cornerstone Managing Director Brad Smith put it, this deal might not get the coverage of Visa/Plaid, but it should, because Galileo is like a mashup of Plaid and Q2’s CorePro if CorePro was extended to payments, lending and investments. Other similar challengers Square and Varo Money received FDIC approval in the past couple months.

Fintech 109

Fintech FDIC Capital Community Bank 109

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.

Digital Banking 15

Digital Banking Online Atlanta Las Vegas 15

PYMNTS

MARCH 26, 2020

LendingClub, on the other hand, started life as a FinTech, but will become a bank after buying one earlier this year. Square also made the jump into officially becoming a bank this week, with the award of an ILC banking license by the FDIC. What we learned was interesting. “I

Innovation 241

Innovation Fintech Data Examples 241

American Banker

APRIL 1, 2016

The former head of the FDIC has a longstanding interest in small-dollar consumer lending.

FDIC 28

FDIC Online Lending Digital Banking 28

PYMNTS

OCTOBER 8, 2019

What Majority is offering, Larsson noted, is a digital banking solution designed for migrant workers that wipes out all the mystery fees, and aims to provide a way to come in off the financial margins and into the digital economy like everyone else. For $5 per month, Majority members in the U.S.

Community 126

Community United States Meeting Houston 126

PYMNTS

OCTOBER 8, 2019

What Majority is offering, Larsson noted, is a digital banking solution designed for migrant workers that wipes out all the mystery fees, and aims to provide a way to come in off the financial margins and into the digital economy like everyone else. For $5 per month, Majority members in the U.S.

Community 116

Community United States Meeting Houston 116

PYMNTS

JANUARY 30, 2018

It’s a lesson that he believes banks will have to learn as well – because their customers are getting better offers from institutions that are also FDIC-insured, and that also offer a full suite of financial services online. And – as Aspiration’s data demonstrated – as a demographic, they also distrust big banks.

America 109

America Maryland FDIC Millennials 109

William Mills

SEPTEMBER 9, 2016

International lending platform – Create opportunities for Investors. 2015 formed aspire to address inefficiencies in alternative lending market. Andrew Barnett – Principal Digital Banking and Payments Consultant and Elizabeth Santorelly. It would be interesting to learn more and take a look at their other use cases.

social media 40

social media ATM Mobile Customer Experience 40