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Digital banks, payments startups face first major test in virus

Bank Innovation

Fintech startups looking to upend how Americans do their banking are facing their first major test as interest rates fall and fearful consumers seek safety at traditional banks. mobile payments companies founded after the 2008 financial crisis, and digital banks including Chime Inc. Square Inc.

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Fintech Unfiltered: Inside HSBC Bank USA’s Lofty Innovation Strategy for 2018 [Podcast]

Bank Innovation

As a part of its retail transformation strategy, HSBC Bank USA spent over $130 million on innovation projects in one year on its U.S. The bank […]. operations.

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Weekly Wrap: Banner week for fintech acquisitions

Bank Innovation

In this episode, editors discuss the following news developments: Implications from LendingClub’s acquisition of Radius Bank; How Ally’s acquisition of the non-prime lender CardWorks boosts the bank’s long-term plans; and The launch of digital banking startup Level […].

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What Legacy FIs Miss About The Need For Cloud-Based Infrastructure

PYMNTS

Financial institutions (FIs) have been adapting their platforms and technologies to better suit the needs of more digital consumers for decades, but the coronavirus has placed new importance and pressure on accelerating these efforts. About The Tracker.

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How Challenger Banks Are Giving Legacy Players Key Opportunities

PYMNTS

Jamie Warder, head of digital banking for KeyBank , noted that challenger banks’ newfound popularity may be forcing legacy institutions to innovate, granting them more opportunities to better engage and serve customers. Legacy Banks and the Innovation Game. Legacy Banks and the Digital Banking Shift.

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Sustaining Digital Banking Channels’ Explosive Growth in 2021

The Financial Brand

The post Sustaining Digital Banking Channels’ Explosive Growth in 2021 appeared first on The Financial Brand. Financial institutions that want to stay in the game need to offer solid basic services before they get fancy.

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Why Bunq Banks On The Cloud For An Innovative Edge

PYMNTS

That is why it is critical for FIs to build out networks that can handle an increased amount of transactions or swiftly analyze large reams of data, according to Ali Niknam , CEO and founder of European digital bank Bunq. This is similar to the card aggregation solutions that fellow FinTech Curve offers.