UK government continues refining open banking regulation: The Competition and Markets Authority and fellow regulators outlined a replacement process for the Open Banking Implementation Entity (OBIE).
Credit unions struggle to attract younger people: A survey found that young US consumers are less likely to be credit union members. Tech and marketing updates could help narrow the gap.
CIBC adapts to talent wars by upskilling tech workers: To appeal to highly sought-after developers, banks can stress development opportunities and innovative projects, and publicly celebrate workers who contribute to patents.
Dave’s FTX collab opens doors for crypto offering: A $100M investment from the crypto exchange, coupled with a strategic partnership, could help the neobank roll out cash-back crypto rewards and convenient stablecoin conversions.
Investors have pushed the bank for more details on its tech initiatives. Communicating longer-term ROI without tipping off competitors is the challenge.
Proptech lets landlords keep income while ditching ownership costs: US-based Flock lets landlords exchange their properties for shares in dividend-paying, tax-deferred investment vehicles.
Its new secured card can appeal to small-business owners with poor credit histories and lead to upgrade opportunities.
FIS offers community banks a PFM tool: The banking tech provider’s solution targets smaller banks competing with large ones that offer financial insights to consumers.
In the US, higher-income millennials are more likely to own cryptocurrency than their lower-earning peers. Some 61% of those making at least six figures per year own crypto, while just 25% of those earning less than $50,000 hold Bitcoin or the like. Gender plays a role as well—half of millennial men hold these digital currencies, while only one-fifth of women in that age group do so.
Solarisbank brings BaaS concept to brokerages: The banking as a service (BaaS) provider’s white-label solution will make it easier to enter the European and US low-cost brokerage market.
Apple acquired UK-based open banking fintech Credit Kudos—here’s what it can do with the new tech.