Former UK P2P giant Zopa closed this part of its business to focus purely on banking services
Citizens’ survey piles on more evidence of the digital shift—but human advisors aren’t yet obsolete: The US regional bank found that even post-lockdown, digital has become even more frequently used by consumers and businesses—except when they want advice.
Nova Credit transfers immigrants’ credit histories into the US financial system so Amex can reach a hard-to-tap consumer segment.
Raisin’s AML collaboration gives it a BaaS selling point: In the wake of some neobanks’ compliance woes, the Germany-based fintech is offering support from regtech ComplyAdvantage.
Majority has raised $27M in a Series A round. In a digital-centric era, its approach for its target audience includes offering customer meetups and native-language advisors.
EU fintech and bank tech budgets rose in 2021, but evolving open banking legislation and user experience enhancements will demand further spending in 2022.
Neobank for the smallest of SMBs raises $58M: US-based Nearside offers universal cashback and free business checking among its products. Enhancing its lineup further could help it stand out from similar challengers.
Smaller banks could power a US climate-resilience program: In the Democrats’ federal spending bill, the proposed program is designed to support smaller financial institutions that serve communities of color and low- to moderate-income communities.
McKinsey warns that banks have just 18 to 24 months to revamp their post-recovery business models so they don’t lag in shareholder returns. Partnerships or mergers may offer less costly alternatives.
Many jobs in the US are tied to health insurance, which in turn is tying many workers to their jobs.
Mainstreaming of digital asset adoption won’t happen without regulation and compromise.
Atlanta program will open bank accounts for low-income kids: The nonprofit-managed initiative, which includes $100 starting balances and free family financial wellness coaching, will bring new customers to local banks.
TD Bank and BMO see faster mobile-user growth in the US than Canada: Canadian growth for both banks lagged in the high single digits, compared with double-digit US increases. Our forecasting data shows how they can boost their growth.