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Digital Banking, With Millennial, Mobile – And Governmental – Tailwinds

PYMNTS

The push toward digital banking seems an inexorable one, with the technology and demographics acting as tailwinds, and where governments have increasingly gotten into the act of promoting digital banks (the pure-play kind) and making forays into bits and bytes, where once paper and face-to-face transactions reigned.

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Credit Unions Unite Behind Digital Banking

PYMNTS

That help is forthcoming, as in the case of the Central Bank of Ireland , which is changing regulations to favor more CU lending with higher limits. There is a sense, however, that CUs themselves bear responsibility for falling behind the digital banking trends that first took hold with consumers. Digital Unison.

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How To Compete With Banks: Start With First Principles

PYMNTS

But given the rise of neobanks — FinTechs that are using banking services as the foundation for new ecosystems and Big Tech, which is exploring ways to extend their reach into banking and financial services — we thought we’d go back to first principles and ask consumers that simple question in relation to their primary banking relationship.

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Credit Unions? Bid To Bridge The Challenger Bank Perception-vs.-Reality Gap

PYMNTS

Their marketing budgets are deeper and bigger, and they are national,” said Chambers of these and other digitally-focused firms. you could turn on a basketball game and see slickly produced ads for challenger banks, promising to deliver a range of financial services through the convenient small screen of a smartphone.

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Google Pay Co-founders’ Indian Neobank Has Raised $13.2M

PYMNTS

Sujith Narayanan and Sumit Gwalani, both co-founders of Google Pay India — formerly called Google Tez — said the seed funding brings the neo-bank startup epiFi to a valuation of roughly $50 million. When we were building Google Tez, we realized that a consumer’s financial journey extends beyond digital payments.

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Mastercard Card Clearing In China, Unattended Retail, Rapid Settlements Top This Week’s News

PYMNTS

China’s central bank gave Mastercard the green light on Feb. 11 to set up a bank card clearing business, providing it with access to a $27 trillion payments market. The People’s Bank of China said it has approved an application by Mastercard’s Chinese joint venture to run a bank card clearing business in the nation.

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Covid-19 Has Scrambled Fintech’s Winners & Losers. Here’s The Short- & Long-Term Outlook.

CB Insights

Banking & Lending. Banking and Lending. short term: PPP represents easy money for big lenders, while online lenders & challenger banks suffer. Big retail banks are the short-term beneficiaries of the pandemic through the Paycheck Protection Program (PPP), which generates fees for banks without credit risk.

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