Customer and security features in Microsoft’s cloud for banks will add to its appeal: The tech giant’s financial services cloud is about to launch officially—and its features may speed up new cloud partnerships with banks.
BofA’s deeper integration of fast-growing digital tools could yield more cross-sales: Tighter links between its Erica virtual assistant and the Life Plan financial management tool could prompt more frequent use and greater engagement with Life Plan.
Among executives at US banks, less than half believe their institution has tools in place to effectively serve millennials.
Curve follows most UK fintechs in focusing on broadening its product suite rather than making a profit, which has done little to deter backers.
After a leadership change and multiple delays, the tech giant won’t offer co-branded bank accounts through its digital wallet. But its Plan B could be a problem for banking as a service firms.
U.S. Postal Service’s pilot poses a banking-revival path: Services like check cashing and ATMs could help to fill gaps caused by banks’ branch closures. A fuller-fledged postal banking option would require Congressional action.
Monzo ditches US licensing bid—and that’s OK: The UK-based neobank can divert the much-needed savings toward shoring itself up. Other high-profile players are running US neobanks without a license.
Cash-back credit cards could make themselves more appealing to prospective customers with a few key features.
As consumers have gotten more comfortable using debit cards online, US digital debit card spending has outpaced that of credit cards. Transaction value will fall in 2021, but we expect growth to return in 2022.
The API brokerage platform is easing Chilean retail investors’ access to US stocks as it seeks to expand in the region. LATAM presents a huge user growth opportunity for foreign digital brokers.
In the increasingly crowded US buy now, pay later (BNPL) space, the convenience of Upgrade’s single-invoicing feature could catch consumers’ attention.