50 million data points are great, but only if they’re actionable: That’s according to Ashley Ross, head of CX at Bank of America, who we sat down with for an exclusive interview.
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.
NatWest’s BNPL plunge could deepen customer engagement: The UK bank’s offering will roll out this summer with customer safeguards like credit limits.
The city council approved creating a financial entity that will lend to underserved businesses. If this focus holds, competition with existing banks should be limited.
It helps Robinhood compete with banks, other fintechs, and other digital brokers by capitalizing on a shift to debit and younger users’ payment preferences.
Paper is still integral for the money flow: Two studies highlight the need for banking players—particularly neobanks—to continue supporting access to cash and paper checks.
Goldman trade marks milestone for crypto derivatives: The banking giant’s inaugural over-the-counter (OTC) crypto options trade is the latest sign of crypto derivatives’ coming of age.
Capital One already issues the private-label Kohl’s Card and will pilot a co-brand program in early 2023.