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.
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.
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.
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.
Voluntary AML initiative could improve crypto’s optics: A group of firms is self-regulating to help companies comply with US laws covering fund transfers between financial institutions’ customers.
Crypto mining keeps working on its environmental problem: ConocoPhillips is running a pilot program to sell natural gas that it would have otherwise burned away to a bitcoin processor.
BofA posts soaring digital-engagement stats: Surges in retail banking, wealth management, and payments, including some triple-digit growth, connect degree of engagement with profitability.
JPMorgan has established a presence in the blockchain-based virtual world Decentraland and published a report on opportunities within the sector.