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.
Marcus UK users get interest rate bumps: Goldman Sachs is giving its UK direct bank customers higher interest rates on two savings products—in return, the bank gets a shot at more users for cross-selling.
Coming in at No.1 confirms that it’s the preeminent neobank in the US—but it still could use a national banking charter to help build trust and hang onto its growing customer base.
eToro eyes another quarter of strong user acquisition after a record Q1 thanks to sustained retail investing activity and its expensive US expansion—expect other US trading platforms to share similar record user growth in the coming months.
NCR offers crypto trading to hundreds of banks: The banking services provider is teaming up with crypto custodian NYDIG to give trading capabilities to 650 US banks and credit unions, better arming smaller players against aspiring financial super apps like Venmo and Revolut.
Credit Sesame users can build credit with their debit cards: The company is enabling users of its Sesame Cash banking service to develop credit histories through debit transactions—as financial institutions look for ways to foster alternative credit data.
The US regional bank joins other incumbents that have recently added a feature which used to be a differentiator for neobanks—and broadens its safety net for customers in need of short-term financing.
The downturn forced issuers to take steps to mitigate risks and maintain primary card status. But with much of the US beginning to look past COVID-19, issuers can now switch gears to focus on growth again.