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Banks Must Up Their Social Media Game to Connect with Digital Natives

Gonzobanker

Traditional financial institutions that want to compete with fintech disruptors like Chime and X (formerly known as Twitter) need to up their social media game. hours per day on social media. Sofi has built strong engagement through its Richer Lives social media strategy and influencer Vivian, “your rich BFF.”

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The Top 5 Trends in Fintech and Banking for 2022

Gonzobanker

These fintech and banking trends should be on financial institutions’ radar in the year ahead. This list of top banking and fintech trends for 2022 won’t tell anyone anything they haven’t already heard about. For banks, crypto will be to 2022 what social media was to 2015. Trend #1: The Great Overdraft Overhaul.

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Closing the Social Media Gap

William Mills

Social media is no longer the shiny new toy in the PR and marketing toy box. Today, financial providers and FinTech firms alike know they must integrate social media into their communications strategies. For many FinTech companies, social media serves primarily as a source for leads.

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TRENDING: How Credit Unions Give Digital The Personal Touch

PYMNTS

Advanced technology is increasingly raising the stakes of how CUs should operate, with members coming to expect the instant payments and slick mobile interfaces that large banks and FinTechs have made standard. A study from the Cuna Mutual Group found that CU membership has increased 3.5 Deep Dive: How CUs Leverage Social Media.

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Bitcoin Daily: Ping An’s FinTech Arm Teams Up To Launch Blockchain Solution; CFTC Calls For Default Ruling For Alleged Ponzi Scheme Founder

PYMNTS

Xiaoying Chen, director of Shenzhen Customs, said the project was in-line with state expectations to study the use of blockchain for cross-border applications. It is also one of the four FinTech “unicorns” being cultivated by Ping An, which is a state-backed group. It was backed by SoftBank in a Series A round for $7.5

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Regulators Support Alternatives To Assess Creditworthiness

PYMNTS

Using income and spending data can open up access to credit, a September FinRegLab study indicated. The study analyzed information from FinTechs like LendUp Global and Petal Card that extend loans based on alternative data. Others have tapped into data generated from social media, a practice that is widely criticized.

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Deep Dive: Strategizing Transparent, Holistic Digital Banking Transformations

PYMNTS

One study recently determined that the number of digital banking users is expected to exceed 3.6 billion by 2024, and a separate study suggested that many customers were willing to use FinTechs as well as their primary banks to receive the level of technological support they desired.