Bank Innovation

FEBRUARY 12, 2020

The growth of mobile and digital banking is driving in-store branch numbers down. As of January, there were 3,989 in-store branches of FDIC-insured institutions housed within retail stores, a decrease of 2.3% since June 30, 2019, and 6.5% since June 30, 2018, S&P Global Market Intelligence reported.?

FDIC 243

FDIC US Retail Digital Banking 243

PYMNTS

AUGUST 28, 2019

challenger bank NorthOne has announced the launch of its mobile-first small business banking platform, the result of a collaboration with digital-first Radius Bank. Small businesses can sign up for an FDIC-insured bank account in three minutes, and can customize the platform to add sub-accounts for payroll, large purchases and taxes.

Mobile 144

Mobile FDIC Tools Taxes 144

PYMNTS

MAY 26, 2016

A new report from the Federal Deposit Insurance Corporation (FDIC) shows that mobile banking can empower underserved customers to have greater control over their finances and ultimately open up access to mainstream banking. The good news is that mobile banking usage is reportedly on the rise.

Mobile 104

Mobile FDIC Survey Security 104

PYMNTS

JULY 11, 2019

subsidiary of N26 GmbH, which was described in an announcement as one of the fastest growing mobile banks in Europe. And, according to the announcement, N26 partners with Axos Bank to offer a Visa debit card and FDIC-insured checking account. Through a staged rollout in which 100,000 customers on the U.S. The company is a U.S.

Mobile 121

Mobile US United States FDIC 121

Bank Innovation

JANUARY 19, 2018

Varo, a mobile banking startup that provides an FDIC-insured bank […]. The funds will go towards marketing its service as well as for laying “the foundation” to become a bank, company CEO Colin Walsh told TechCrunch.

National 225

National FDIC Mobile Marketing 225

ABA Community Banking

OCTOBER 19, 2020

households that are unbanked continued falling in 2019, reaching 5.4%, the lowest rate yet recorded in a biennial FDIC report. The post FDIC: Share of Unbanked Americans Reaches Record Low in 2019 appeared first on ABA Banking Journal. The share of U.S.

FDIC 56

FDIC Report Survey ATM 56

PopularBank

DECEMBER 1, 2021

Costs of paying by mail vs. online and mobile banking. On the other hand, mobile and online bill pay from Popular Bank is free and available 24/7. You are protected by Popular Bank’s encrypted security processes and backing from the FDIC, just as you are when using checks. Online and mobile banking is better for the environment.

Online 98

Online Mobile Fraud Boston 98

PYMNTS

DECEMBER 16, 2020

The rollout makes Quontic “the first FDIC insured financial institution in the U.S. The mobile bank is aiming to reach high-net-worth international customers that have household incomes in excess of $100,000. resident and non-resident global customers can open a FDIC-insured U.S. to fuel its online private banking offerings.

Bitcoin 157

Bitcoin FDIC Cards California 157

The Financial Brand

FEBRUARY 10, 2020

The post FDIC Greenlights Mobile-First Fintech Varo Money for Deposit Insurance appeared first on The Financial Brand. Fintech's patience paying off as it nears final hurdles, setting stage for major new digital banking competitor.

FDIC 28

FDIC Mobile Fintech Digital Banking 28

CFPB Monitor

JANUARY 6, 2020

(The hearing is likely to address the rules proposed by the OCC and FDIC in November 2019 to eliminate the uncertainty created by the Second Circuit’s decision in Madden v. Reviewing the Rise of Mobile Payments.”. Midland Funding. Click here to read our blog about the proposals.).

Mobile 78

Mobile FDIC Payments Community 78

PYMNTS

FEBRUARY 18, 2020

The bank is one of a few smaller lenders that has teamed up with FinTechs who need services only an FDIC-regulated institution can provide. Recently, Varo Money , a mobile bank, got FDIC approval to accept consumer deposits. This is the first time a FinTech has purchased an actual bank.

Fintech 242

Fintech FDIC Boston Lending 242

PYMNTS

MARCH 19, 2020

FDIC Approves Square for Banking License. The Federal Deposit Insurance Corporation (FDIC) granted Square a banking license to operate a de novo industrial bank in Salt Lake City. Fiserv Acquires Bypass Mobile. It will keep its drive-through windows open. Putting the Move on the Moving Industry’s Gig Worker’s Pay.

FDIC 130

FDIC Utah Payments Mobile 130

PYMNTS

OCTOBER 19, 2020

The release says the mobile app will also come with a prepaid debit card that can be used anywhere. residents in the near future, PYMNTS writes, according to a report by the Federal Deposit Insurance Corp (FDIC). There's expected to be a wide swathe of unbanked U.S.

FDIC 140

FDIC Resources Cards Payments 140

Payments Source

MAY 26, 2016

Smartphones are an important window into understanding underbanked customers, the Federal Deposit Insurance Corp. said in a report released Wednesday in conjunction with a meeting of the agency's advisory committee on economic inclusion.

FDIC 64

FDIC Mobile Meeting Report 64

The Financial Brand

FEBRUARY 10, 2020

The post FDIC Greenlights Mobile-First Fintech Varo Money for Deposit Insurance appeared first on The Financial Brand. Fintech's patience paying off as it nears final hurdles, setting stage for major new digital banking competitor.

FDIC 15

FDIC Mobile Fintech Digital Banking 15

Bank Innovation

JULY 11, 2019

German challenger bank N26 has partnered with San Diego-based Axos Bank to offer an FDIC-insured checking account and Visa debit card for U.S. The products, announced on Thursday, are now available to about 100,000 customers who were on the waitlist for the U.S. version of the app. The company said customers can sign up […].

San Diego 186

San Diego Cards FDIC US 186

PYMNTS

DECEMBER 16, 2020

The mobile bank, which was started by neo bank veterans, is seeking to reach affluent global clients with household incomes of over $100,000, according to a Tuesday (Dec. resident and non-resident international clients of Aeldra can open an FDIC-insured U.S. California-based challenger bank Aeldra has chosen i2c Inc.

United States 168

United States FDIC California Mobile 168

PYMNTS

JUNE 25, 2019

.” The publication noted that FinTech firms collaborating with Cross River are able to take advantage of the community bank’s Federal Deposit Insurance Corp (FDIC) membership, using the FI to connect with traditional financial and banking infrastructures without having to go through the process of securing their own FDIC licenses.

Community Bank 116

Community Bank Community Digital Banking FDIC 116

CFPB Monitor

NOVEMBER 24, 2020

According to the complaint, the defendants advertised the App “as a high-interest bank account that operates by placing consumers’ funds at unspecified FDIC-insured banks.” In a complaint filed in the U.S.

Mobile 78

Mobile Exercises FDIC California 78

PYMNTS

JANUARY 13, 2021

FDIC) and the Treasury Department have reportedly launched an inquiry into American Express Co. FDIC) and the Treasury Department have reportedly launched an inquiry into American Express Co. Anecdotally, small businesses' credit card debt could be on the rise as more business owners turn to cards to keep their businesses afloat.

Cards 167

Cards Apple FDIC Samsung 167

PYMNTS

JANUARY 7, 2021

In today’s top news in digital-first banking, California FinTech Green Dot is rolling out the GO2bank mobile banking to help cash-strapped individuals, while stimulus checks are reportedly posing challenges for some users of H&R Block and TurboTax. Green Dot Introduces GO2bank To Help Cash-Strapped Consumers.

California 142

California FDIC Regional Taxes 142

BankInovation

JUNE 3, 2020

The mobile banking startup announced a $241 million Series D today and expects to have a bank charter sometime this summer. “We We have the FDIC approval, and we’re going through the final examination […]. Varo Money is in the “last leg of the race” in getting a banking charter, according to founder and CEO Colin Walsh.

FDIC 64

FDIC Mobile Customer Experience Innovation Strategies 64

Perficient

AUGUST 9, 2022

Financial institutions can help combat these “bank branch deserts” by investing in more customizable mobile banking platforms that include easy-to-reach customer support representatives and AI-powered chatbots that are sophisticated and multilingual.

Community 275

Community Customer Experience ATM Examples 275

PYMNTS

DECEMBER 10, 2019

subsidiary of Germany’s mobile bank N26 has expanded its Perk partnerships for debit cardholders, the company said in a press release on Tuesday (Dec. One of Europe’s fastest-growing mobile banks, N26 also offers direct deposit customers the ability to get their salary up to two days early. million customers in 25 markets in Europe.

Digital Banking 131

Digital Banking Cards US FDIC 131

CFPB Monitor

OCTOBER 9, 2018

The FDIC’s Center for Financial Research has issued a research paper that discusses the use of the information contained in a “digital footprint,” meaning the information that people leave online by accessing or registering on a website, for predicting consumer default. tablet or mobile). The operating system (e.g. iOS or Android).

FDIC 92

FDIC Comparison Lending Examples 92

PYMNTS

JANUARY 10, 2019

Sears is still in the bid game, a mobile banking operator thinks big and holiday sales in the U.K. FDIC) was founded in 1933 that an entire year went by without a bank going under. The European mobile bank operator said that with the Series D round of funding, it has a valuation of $2.7 disappoint. N26 Has $2.7B

Los Angeles 128

Los Angeles FDIC Retail Maine 128

PYMNTS

JUNE 9, 2020

percent APY, an optional auto-deposit, no fees or minimums, and security as “Affirm Savings is FDIC-insured and accounts are held by our bank partner, Cross River Bank, member FDIC,” per the announcement. The Affirm Savings account comes with 1.30

FDIC 151

FDIC Millennials Google Payments 151

PYMNTS

FEBRUARY 19, 2020

He also noted that the banking industry’s mergers and acquisitions, along with the escalation of mobile apps, have contributed to the decline of physical branches. The research filtered data from the Federal Deposit Insurance Corporation (FDIC). In the past 12 months through June, the number of total branches in the U.S. There was a 2.2

New York 167

New York North Carolina US New York City 167

American Banker

FEBRUARY 10, 2020

It was Varo's second try with the Federal Deposit Insurance Corp., but it has now moved within a few steps of obtaining what has eluded fintech firms of late: a green light from banking regulators.

FDIC 70

FDIC Regulation Fintech National 70

American Banker

MAY 25, 2016

Smartphones are an important window into understanding underbanked customers, the Federal Deposit Insurance Corp. said in a report released Wednesday in conjunction with a meeting of the agency's advisory committee on economic inclusion.

FDIC 43

FDIC Mobile Meeting Report 43

PYMNTS

APRIL 29, 2019

FIS, Fiserv or Infosys will be tapped to provide the processing software for Robinhood’s upcoming mobile bank if it receives approval from the Office of the Comptroller of the Currency. Robinhood will combine the core processing platform with its consumer-facing platform to create mobile and web-based banking products.

FDIC 112

FDIC New York Mobile Online 112

MyBankTracker

AUGUST 6, 2020

households have checking account balances of less than $1,000 AND no direct deposit More consumers are using mobile check deposits, increasing to 17.4% Year Mobile deposit Direct deposit. Sources: FDIC. 2017 FDIC National Survey of Unbanked and Underbanked Households. households were charged more than $1.1 2016 66.07%.

Survey 52

Survey FDIC United States Study 52

PYMNTS

MARCH 7, 2017

The report noted that so far the fund has invested in eight startups in a wide array of technologies, such as blockchain mobile payments, data analytics, financing and working capital. FDIC), U.S. The FDIC also said that the percentage of U.S. While the unbanked are numerous in Africa and elsewhere in the U.S.,

FDIC 100

FDIC Capital Fintech Analytics 100

PYMNTS

MAY 15, 2019

FDIC) — the FDIC-insured accounts will be linked to a crypto prime dealer. “These are quite different from speculative assets like bitcoins, and more promising.”. And SFOX is partnering with New York-based M.Y. Safra Bank to offer its traders deposit accounts backed by the Federal Deposit Insurance Corp. SFOX’s partnership with M.Y.

Samsung 191

Samsung blockchain Bitcoin FDIC 191

PYMNTS

AUGUST 13, 2019

Digital banking startups are popular in Europe, dangling low fees and mobile apps to attract more customers. challengers partners with traditional banks to get backing from the Federal Deposit Insurance Corporation (FDIC). Companies in India and China such as Alipay and Tencent were excluded from research.

FDIC 164

FDIC Millennials Capital Fintech 164

CFPB Monitor

JANUARY 24, 2022

The bank will also provide a fully digital, mobile-first national lending platform for consumers across the country. In its press release announcing the withdrawal, the OCC stated that Figure Technologies had amended its charter application for Figure Bank, National Association, to offer FDIC-insured deposit accounts.

National 78

National Fintech Company FDIC 78

PYMNTS

JUNE 19, 2020

FDIC: US Banks See Chargebacks Soar, Profits Tank Due To Pandemic. How The Global Pandemic Fast Tracked Mobile Payments In India. The pandemic has strengthened mobile payments in India and set them to soon overtake card payments. Visa, Facebook Link Up For P2P Payments, eCommerce On WhatsApp. The profits just hit $18.5

Payments 151

Payments United States FDIC Retail 151