BofA sees success with digital mortgages: Its Digital Mortgage Experience product handled the vast majority of initiations in 2021—up from 45% the year before—and garnered several mortgage UX accolades.
The provider brought its rewards program to nine markets to help entice spending and expanded Pay Now’s availability, which gives customers more flexibility.
Banks are standoffish to corner store ATMs: Incumbents have been ending business with standalone ATM operators or raising their fees. These tactics open the door for challengers to grow.
SoFi aims to become the AWS of banking services: The US neobank plans to acquire cloud-based core-banking provider Technisys and pair it up with banking-as-a-service (BaaS) subsidiary Galileo.
Open-banking user growth accelerates in the UK: The Open Banking Implementation Entity (OBIE) said the number of active users crossed 5M last month, just four months after reaching 4M.
Amex added Plan It to Delta’s checkout, giving the airline another BNPL option for its customers while letting Amex reroute volume to its cards.
UK fintech aims to help people spend less on subscriptions: After wrapping up a $9M seed round, Nous will launch a service to automate contract renegotiations and provider switching. Our research shows that’s in high demand.
Fraud management is critical to retaining US customers’ digital trust: A FICO survey found that 28.7% of respondents would drop their bank if they aren’t pleased with how they handle fraud incidents.
A public-private forum created by the Bank of England and the Financial Conduct Authority (FCA) highlights operational best practices for good data stewardship.
Amazon will accept Visa credit cards across all of its sites—without surcharges—after reaching a global agreement.
The requirement to cut business ties with people linked to anti-vaccine-mandate protests will be a lot easier for companies with better-established compliance arms.