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.
Danske Bank UK taps Aiia for business-accounts viewing: The companies will let businesses see details for all of their bank accounts in one place—the latest example of rising interest in open banking from European financial institutions.
Starling plans to cut carbon-emissions to curry favor with environmentally conscious consumers: It aims to reduce its emissions by one-third by 2030, which could help it build a good reputation—but only if it shows progress.
This could give it an even bigger edge over prominent challengers, should they choose to jump into mortgages.
Freetrade will push ahead with plans to launch in new markets after hitting £1B ($1.28B) in assets under administration. But other retail brokerages have had the same idea.
Thanks to an infusion from a bullish US hedge fund, its value could reach €4.4B—another potential positive sign for SMB-focused neobanks in Europe.
Volt’s broader ties with AFG bolster its mortgage-growth prospects: Building on its recent partnership, the Australian banking-as-a-service (BaaS) provider will support a home-lending product and a personal finance app. It could help grow Volt’s loan book.