LendingClub CEO discusses the neobank advantage: Scott Sanborn explains to Insider Intelligence why his company’s P2P roots will help it compete as a neobank, now that the pandemic has driven permanent mobile banking usage.
Fintech takes a ‘no code’ embedded finance approach: Spain-based HUBUC raised $10M from seed funding, playing in a competitive space that’s still growing.
After posting strong year-end results, the crypto exchange warned that 2022 is off to a lackluster start amid drops in crypto market cap.
TSB’s revamp of UK mobile onboarding improves security and user experience: The process includes a newly streamlined application and the submission of ID images and video of the applicant’s face.
Russia sanctions foreground US banks’ compliance hurdles: Targets of the new restrictions imposed in response to Russia’s invasion of Ukraine include banks and elite individuals.
Private-banking aggregation tech holds wider potential: France-based fintech Finary lets customers monitor all of their sources of wealth, from bank accounts to crypto, in one place.
It’s axed overdraft fees and charges for overdraft-protection services—as the number of big US players maintaining the old normal keeps dwindling.
Neobanks make personalized financial services plays: US-based indi is joining gig-worker app Steady’s cash-incentives product, while UK-based Zopa is offering a savings account tied to personal goals.
Afterpay’s deal with EyeBuyDirect and Sezzle’s tie-up with WellNow Urgent Care reflect BNPL’s push to diversify beyond retail.
The vast majority of US banks have no plans to offer some basic cryptocurrency-related services. For even the most widely adopted service—crypto investing or trading—only 1% currently offer it, and 78% have no plans to support it.
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.