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Why The Bank-FinTech Relationship Is More Complicated Than Conflicted

PYMNTS

The ongoing struggle, supposedly existential in nature, that pits upstart, relatively young FinTech firms against arrogantly complacent banks for supremacy in this new and growing world of digital payments and commerce. And that is a bank – one with FDIC insurance and safeguards that keep their money safe. The subject? Trust in Banks.

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Chime, Challenger Banks And The Challenges Of (Lofty) Valuations

PYMNTS

And within FinTech, that most incandescent of sectors, things might look a bit, well, frothy. Accounts are FDIC-insured through a partnership with Bancorp Bank. On a day that saw a stock market rout – particularly on the tech-heavy NASDAQ, which was down a percent – in at least some areas of finance, investors remain sanguine.

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article thumbnail

Chime, Challenger Banks And The Challenges Of (Lofty) Valuations

PYMNTS

And within FinTech, that most incandescent of sectors, things might look a bit, well, frothy. Accounts are FDIC-insured through a partnership with Bancorp Bank. On a day that saw a stock market rout – particularly on the tech-heavy NASDAQ, which was down a percent – in at least some areas of finance, investors remain sanguine.

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Credit UX: Starter Loans from Self Lender

Fintech Labs Insights

Another more traditional route is a deposit-secured loan. Customers without credit can take a loan secured by their deposit, typically a CD. Users apply for a $500 or $1000 CD-secured loan. Self Lender’s bank partners, put aside the total of all the monthly payments into an FDIC deposit account. But you never know.

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