Starling’s BaaS deal for StanChart-backed account marks its maturity: The UK-based neobank has earned an incumbent’s trust and will be powering a savings account that allocates deposits to climate-change-related projects.
Latin America leads in cryptocurrency ownership, with 30% of adults there holding the digital assets. Within the region, ownership jumps as high as 45% in Argentina.
Credit union’s bilingual banking bot could attract Hispanic customers: California-based Community First Credit Union recently added Spanish-language capability to its AI-powered bot. Such assistance could help lower the relatively high share of underbanked or unbanked Hispanic adults in the US.
Lemonade will acquire Metromile in a deal expected to close next year. Insurtech M&A activity and large raises show the space has matured.
Amazon customers will be able to checkout with Venmo in 2022, which should drive the app’s revenues.
Citigroup’s flagship branch overhaul focuses on in-person service and meetings: With this renovation, it joins its big US peers in pivoting branches away from routine services and toward more complex, individualized ones—in line with consumer preferences.
A new Accenture study says incumbent banks that co-opt digital-only players’ business models could bring in over half a trillion dollars in revenue. But legacy technologies are still in the way.
U.S. Bank’s payments-request tool continues its digital drive for businesses: An added feature for its commercial customers is designed to make their collections easier.
Fidelity led the round, underscoring the US appetite to extend capital to the fast-growing fintech ecosystem.
The neobank joined the global chorus of financial institutions making ambitious climate pledges against the backdrop of the COP26 Climate Summit.
It’s not alone in the race. An influx of new BaaS entrants indicates the emergence of an industry to underpin embedded banking.
The bank is increasing its overdraft threshold to help consumers and businesses avoid incurring fees. The trend of doing away with the charges will push banks to look for other ways to deepen customer relationships.
They are expanding across the continent in a bid to dethrone eToro as the trading app of choice and mimic the success of US counterparts.