Challenger banks that cut costs and prioritize lucrative revenue streams are carving out the profits that still elude most.
Higher rates and the risk of increased defaults are hurting their business. They’re also losing market share to specialized fintechs.
Just as the tech blows up in banking, UK startup Evident has created a non-biased index that scores banks on AI development and implementation.
It wants to lower the amount credit card issuers can charge in late fees—which would hurt a key source of issuers’ revenues.
In a saturated market and during a cost-of-living crisis, the investing app may struggle to win new customers.
FIs can access multiple fintechs through one connection while giving consumers control over their data.
Embedded finance fintechs and those with disruptive potential are still attracting investment despite the funding decline.
It’s applying for state regulatory licenses—but it still needs to deal with other hurdles standing in the way.
Travelers may want to let loose on vacation, but they want their premium travel credit cards to be locked down tight. The most in-demand feature of these cards is free identity theft insurance, with 53% of prospective users in the US saying it was “extremely valuable” to them, according to our “US Premium Travel Credit Card Emerging Features Benchmark 2022” report.
Lenders are cutting bankers’ bonuses by up to 70% to cut costs in response to a dealmaking slowdown.
Financing restrictions, political wrangling, and lending support could all be set to increase for banks.
Public comments revealed that many feel like the plan for banks and card companies falls short.
The Kansas Fed said the bank’s activities didn’t reflect safe and sound banking practices.
Despite slower spending growth, both companies managed to pull in more customers—positioning them well in the long term.