U.S. Bank hastens branch closures: Due to the coronavirus pandemic, the bank saw digital adoption spike, and it now plans to accelerate its pre-planned branch closures—but it intends to keep in-person banking relevant by pushing complex services in person.
Insider Intelligence’s second annual Banking Digital Trust survey polled 2,412 US digital banking users in February and March 2021 on their attitudes toward their banks across six key dimensions of digital trust: Security, Privacy, Reputation, Reliability, Ease of Use, and Feature Breadth. Now, we present a new data cut in which we split respondents into two key groups: the Trusters and the Doubters.
Atom Bank passes £3B mortgage level: Amid a sizzling property market, the UK-based neobank completed more than £3 billion ($3.85 billion) worth of mortgages—a win that helps it stand out from fellow challengers.
In just five years, the physical framework of banking will be “dead,” according to bank executives around the globe—supplanted by digital ecosystems and supported by emerging technologies.
The expense management fintech raised $150 million and will now target larger employers to fuel growth as the wider market heats up.
BaaS fintech Toqio hits milestone €8M in seed funding: The European company offers products to financial institutions and non-financial corporates—giving incumbents another option to fast-track products and keep up with neobanks.
SMB-centric fintech Pleo becomes unicorn with $150M haul: The Denmark-based company hit a $1.7 billion valuation with its Series C round—and if it realizes its goal of 1 million users by 2025, it will be well-positioned to add a bank account.
The installment lending solution helps Amazon boost ecommerce sales and break further into India’s payment space—and it may also help the etailer capitalize on the global buy now, pay later market.
Neobank for digital creators gets $26M in investor ‘likes’: Karat Financial completed a Series A round based largely on the popularity of a credit card tailored to creators, such as influencers—and its take on underwriting for that niche could give it an edge with them.
The banking giant topped a J.D. Power ranking of US customers’ satisfaction with retail banks’ financial advice—an offering with potential to keep branches open despite digital disruption.
The insurtech, which matches insurers so they can offer additional products, raised $180M as it tackles its next growth opportunity—embedded insurance.
Revolut could up user engagement with cash prizes: The neobank is urging UK customers to enter prize drawings by garnering points linked to app activities—using gamification to build engagement and provide data for future programs.