Digital assets’ recent plunge in value underscores the need for risk management and regulation. Bit by bit, the pieces are coming together.
Findings from PYMNTS show a gap in businesses’ and consumers’ degree of trust in business technology. Greater transparency in how data is handled will establish the trust necessary for wider adoption of open banking.
‘Save the ATMs’ could become a thing in the US: The nationwide ATM footprint continues to fall after reaching its zenith in 2019. A cash scarcity due to lack of ATMs would hurt the underbanked and impair privacy-minded consumers’ digital trust.
BofA walks out overdraft cuts before US regulators make everyone run: The banking giant’s overdraft service steps include ending NSF fees and cutting overdraft charges from $35 to $10. That may be enough to keep it from becoming a regulatory target.
U.S. Bank’s RTP addition could boost its mobile competitiveness: The bank’s 1Q rollout of a real-time payments (RTP) solution will enable instant clearing at any time—enhancing its already substantial mobile app.
They now have to report users’ business payments that exceed $600 annually, which might push them to add payment-adjacent tax services.
The smashed record shows that investors have fully recovered their confidence in the sector and aren’t ready to shut off the tap.
Virgin Money enters a hot field with its expense-management collab: Partnering with fintech Expend to offer an expense-management feature to small and medium-sized businesses (SMBs) puts Virgin Money in a space that’s attracting businesses and investors.
The UK-based neobank’s founder and CEO Anne Boden outlined plans to offer banking as a service globally in 2022, giving Starling a potential opening into embedded finance.
We expect Bitcoin’s price to rise as rocketing consumer adoption increasingly forces FIs to get in on the act
The offering gives small merchants an affordable digital payments tool and could complement existing POS tech for large businesses.
Federally insured credit unions can team up with third-party digital asset providers and keep members who want to explore this asset class within their ecosystem.