NY law is part of anti-overdraft trend: The law restricts how banks can process checks, making account holders less likely to run into problems that generate controversial fees. It’s a step against a fee source much in the news and could foreshadow federal action.
Neobank seeks to sign musicians to its label: Nerve offers a product suite to help artists manage their business finances and network with others—features that give it a shot at attracting loyal niche customers.
Aspiration's rapid user growth underlines heightened consumer interest in green finance and contrasts with banks—which are missing the mark.
One bags $40M, to add products and become banking customers’ one and only: The neobank takes a breadth-first approach, with offerings ranging from sharing funds to early paycheck access—which positions it to rack up primary banking relationships.
BofA’s H1 patent-haul record outlines its business aims: The banking giant reported getting 221 patents approved in the H1 2021, in categories spanning artificial intelligence to mobile banking—which points at its top priorities going forward.
While the US will maintain its uncontested lead as the country with the most fintech unicorns, the next four biggest hubs will switch rankings. Here’s why.
Venmo’s threat to neobanks escalates with direct deposit for gig workers: Its parent company, PayPal, has struck a deal with Fiserv to let companies send deposits to its users’ digital wallets—adding to the app’s growing competitive threat to challenger banks.
Including linked accounts in Varo Advance underwriting and lifting its $100.00 cap on amounts taken out gives the neobank a tool it can use for future products, plus a shot at adding new borrowers
Chase risks a hit to customer trust over data breach: “A technical issue” that accidentally made Chase customers’ data visible to those with similar personal information could hurt its business in the long run if it negatively affects the trust of its users.
Crypto exchange Bitpanda—which recently opened a B2B arm—raised $263M, as investors continue to target players that provide infrastructure to third parties.