The US banking giant will launch its first international retail presence this week. Its resources, market experience, and patience about attaining profitability suggest that it could be a formidable player.
BofA gets validation for digital results: The bank said it won Global Finance’s Best Consumer Digital Bank in the US—and its recent news updates on marketing and patents show it continues to give top priority to digital plans.
Twin Flexes may muddle Monzo’s message: A UK fintech’s buy now, pay later (BNPL) product has the same name as the neobank’s—and it has some advantages over the first Flex. This complicates things for Monzo, but a bad outcome isn’t a given.
Here’s a look at some of the latest news from our Payments & Commerce analysts.
GM will extend its Bolt EV production delay due to a battery pack shortage. Increased demand for EVs may only aggravate the problem.
Price hikes and product shortages put CPG customer loyalty at risk: Brands are focusing on marketing or experimenting with alternative distribution models, like digital direct-to-consumer, to win back customers.
The FTC is forcing digital health apps to inform US consumers of any cybersecurity breaches, or else face hefty fines.
Hinge Health sets the stage for the future of virtual physical therapy: It acquired Wrnch to make its computer vision tech more accurate—a move that’ll help it reel in even more payer partnerships amid sky-high chronic pain spending.
Tim Cook said he’s still interested in the technology’s promise, despite yet another year without any product announcements.
Google TV offers channels in the FAST lane: The move, which should improve market share for Chromecast and Android TV, shows that some consumers are fine with linear, ad-supported programming.
Spotify is still expanding its podcast listenership in the US, while Apple Podcasts’ has essentially stagnated. In fact, Spotify will narrowly surpass Apple in this metric by the end of this year.
On today's episode, we discuss some of the best-in-class features of a retail site, what to avoid, and how to get your retail app onto customers' phones. We then talk about whether 30-minute delivery can move the needle, what the first iteration of robot delivery might look like, and if palm-scanning technology will catch on. Tune in to the discussion with eMarketer principal analyst at Insider Intelligence Suzy Davidkhanian.
The FTC signals acquisitions could go under greater scrutiny in the future: A new study by the regulator suggests that Big Tech is skirting rules to avoid reporting some deals.
Established fintechs are increasingly commanding funding—and the space’s maturation will herald more exits and pressure from investors to demonstrate a path to profitability