Branch services for CaixaBank customers won’t be free anymore: A €2 ($2.28) charge for using in-person banking services that are also available digitally could hasten Spain’s decline in physical banking and prompt banks to escalate measures to fill the gaps.
Starling scales mortgage presence with £1B book deal: The UK neobank’s acquisition will add to the crowd of digital banking players in the home-lending space and set up a rivalry with Atom Bank.
Its net revenue fell to $1.24B in Q3—but it plans to reduce its reliance on trading by offering users access to Dapps, DeFi, and NFTs.
AI-driven insights help personalize BMO’s app: Eight insights were added to its mobile feature to help customers with their cash flow and spending. Big incumbents view such personalization as a top priority for digital user experiences.
NAB’s SMB-lending overhaul promises cash delivery in 20 minutes: The upgrade of the Australian bank’s service—which issues unsecured loans—is important for NAB to stay competitive as potential competition from digital-only players looms.
JPMorgan bumps up against high fintech valuations, tight talent market: The banking giant’s strategy to maintain its competitive standing against fellow incumbents and neobanks in consumer-facing financial products is under pressure.
The funding comes after the startup secured clients at a record pace in fast-growing sectors, particularly in fintech.
BMO’s chief digital officer on how banks can pick up the pace of digital innovation: In an exclusive Q&A with Insider Intelligence, Mathew Mehrotra talks about the need to re-examine everything from mindsets, funding models, and legacy processes to bring about digital transformation.
Starling’s BaaS deal for StanChart-backed account marks its maturity: The UK-based neobank has earned an incumbent’s trust and will be powering a savings account that allocates deposits to climate-change-related projects.
Latin America leads in cryptocurrency ownership, with 30% of adults there holding the digital assets. Within the region, ownership jumps as high as 45% in Argentina.
Credit union’s bilingual banking bot could attract Hispanic customers: California-based Community First Credit Union recently added Spanish-language capability to its AI-powered bot. Such assistance could help lower the relatively high share of underbanked or unbanked Hispanic adults in the US.
Lemonade will acquire Metromile in a deal expected to close next year. Insurtech M&A activity and large raises show the space has matured.