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Brex Offers FDIC Insurance, Adds Chief Legal Officer

PYMNTS

Brex , the San Francisco financial technology startup, is offering FDIC insurance on its no-fee cash management account, the company announced Wednesday (July 22). The new feature in Brex Cash allows customers the choice to hold cash savings with FDIC insurance, or invest in Money Market Funds.

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How Banks Can Tap Trust As Their Foundation For Innovation

PYMNTS

But as of 2020, it is a subject upon which seasoned experts can disagree, in a world where traditional banks and FinTechs are operating in parallel in the market – and, in many cases, are offering similar services for consumers. But the FinTechs, Baird noted, are adapting and innovating around that issue.

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Neobank Joust Raises $2.6M To Improve Freelancer Payments

PYMNTS

“At Joust, we understand the growing market of self-employed workers, freelancers and small businesses, and their need for an all-in-one banking solution –especially one that gives them the same benefits enjoyed by major corporations. The bank combines an FDIC-insured account and a merchant account and accepts a variety of payments.

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Bitcoin Daily: Blockchain Phone ‘Finney’ To Debut In Dec; AriseBank CEO Handed 120-Year Prison Sentence Over $4M Crypto Scam

PYMNTS

According to The Next Web , Jared Rice defrauded investors out of $4 million after he claimed the company would become the “first decentralized banking platform” — offering FDIC -insured accounts and banking services, as well as Visa -branded credit cards and other cryptocurrency services.

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Why the branch banking controversy will continue

Celent Banking

Consider three articles published in the past week: Bank Innovation covering Associated Bank branch closures to fund digital channel initiatives. Brett King’s Op Ed in Banking Exchange, critical of the recent FDIC report , Brick-and-Mortar Banking Remains Prevalent in an Increasingly Virtual World. I’d like to offer one.

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