PYMNTS

JULY 24, 2019

“If you look at where the big banks and brokerages make most of their money, it’s in their retail savings accounts.”. Like other FinTechs, Betterment will partner with FDIC-insured institutions since it doesn’t have a bank charter.

Fintech 162

Fintech FDIC National Online 162

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

PYMNTS

JULY 16, 2018

Macy’s is, of course, just the latest retailer in a long string to be hit with such a breach. In April, retailer Hudson’s Bay disclosed that customers at Saks and Lord & Taylor stores in North America have had their payment cards compromised. Citizens Rolls Out Digital Bank.

Cards 100

Cards Data Digital Banking Retail 100

PYMNTS

MARCH 18, 2019

According to the Federal Deposit Insurance Corporation (FDIC), the percentage of unbanked Americans fell to its lowest level since the 2007-2009 financial crisis. As the Chase launch and the Bank of America account elimination show, we can bet on more work and experimentation regarding that consumer segment in the years to come.

America 175

America Survey FDIC System 175

PYMNTS

NOVEMBER 1, 2018

report: “The rise of digital innovators in financial services presents a significant threat to the traditional business models of retail banks.”. And that is a bank – one with FDIC insurance and safeguards that keep their money safe. 93 percent had a bank account.

Fintech 191

Fintech UX Mobile FDIC 191

Gonzobanker

MARCH 22, 2023

“Bank confidence is a fragile reed, and a troubled bank is damaged by any rumors, true or not.” Irvine Sprague, Former FDIC Director So Gonzo Bankers … how many of us have been hesitant lately to check our iPhone each morning to see what trouble may have hit the fan in the financial world during a few restless hours of slumber?

social media 78

social media Capital Risk Management Strategy 78

Fintech Labs Insights

MAY 24, 2021

I’ve been expecting digital banking disrupters in the SMB space since the beginning of the online banking era (late-1990s). Security features (account freeze, real-time transaction notifications, FDIC insured). Can deposit cash via GreenDot’s “@ the Register” (retailer typically charges up to $4.95 marketplace.

Taxes 15

Taxes United States FDIC ATM 15

PYMNTS

OCTOBER 29, 2018

Census Bureau still wants us to believe that 90 percent of retail sales still happen in the physical store. population owns a voice-activated device, and 28 percent of those have used the devices to make a purchase during the seven days in which we asked them to tell us about their digital buying and payments experiences.

Payments 196

Payments Google Apple Innovation 196

Fintech Labs Insights

MAY 24, 2021

I’ve been expecting digital banking disrupters in the SMB space since the beginning of the online banking era (late-1990s). Security features (account freeze, real-time transaction notifications, FDIC insured). Learn More at Lili all-in-one mobile banking service. But now we have some impressive entrants.

Taxes 15

Taxes United States FDIC ATM 15

PYMNTS

JANUARY 30, 2018

But for all the complaining, according to Aspiration Bank CEO and co-founder Andrei Cherny, eliminating free accounts – and raising the fees on existing accounts – is just standard operating procedure for all of the nation’s largest retail banks.

America 109

America Maryland FDIC Millennials 109

Celent Banking

FEBRUARY 26, 2015

Controversy around the wisdom (or not) of investing in the branch channel amidst rapidly growing digital banking adoption is showing no signs of letting up. Consider three articles published in the past week: Bank Innovation covering Associated Bank branch closures to fund digital channel initiatives.

FDIC 100

FDIC Retail Digital Banking User Experience 100

William Mills

SEPTEMBER 9, 2016

Andrew Barnett – Principal Digital Banking and Payments Consultant and Elizabeth Santorelly. After they bought CheckFree a lot of Fiserv folks have been based in Georgia. What I expect is that Fiserv has developed a way for banks to be part of the social funding market segment (like Prosper). COLOR is big in their offering.

social media 40

social media ATM Mobile Customer Experience 40

PYMNTS

MAY 2, 2016

Also in the mix, Walmart Pay has taken yet another step away from the theoretical toward the actual and Goldman Sachs went into digital banking. Walmart has updated its iOS application — this time, enabling Walmart Pay, which takes its place among new features offered by the retailing giant. Goldman Sachs Goes Digital.

Software 100

Software Mobile Regulation FDIC 100