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.
The growth of investment robo-advisors—algorithm-based account services—spiked last year across the US, the UK, and Canada as investors, especially those belonging to younger populations, took advantage of investment opportunities during the pandemic. For instance, independent robo-advisors Wealthfront and Betterment both reported double-digit increases in account openings during the pandemic.
The fintech’s $100 million round shows growing confidence in the crypto sector, as regulations and new use cases increase and make solutions like Chainalysis’ more valuable.
Wells Fargo hands over 280,000 PPP loans: The banking giant’s track record of issuing loans over the course of the pandemic-era program could help improve its standing with regulators as it seeks to end its asset cap.
JPMorgan gingerly enters Brazilian retail banking: The US-based banking giant seeks exposure through a pending 40% stake in digital-only player C6 Bank—the investment will help the neobank compete in a crowded challenger space.
On today's episode, we discuss what a world with fewer bank branches means, what the new digital branch will look like, and how digital banking adoption is faring. Tune in to the discussion with eMarketer vice president of content and head of financial services at Insider Intelligence Daniel Van Dyke.
The UK regulator banned the crypto exchange from carrying out regulated activities, a warning to other crypto firms to tighten up compliance or risk missing out on surging consumer interest.
Green Dot backs Walmart deposit account: The banking as a service (BaaS) provider is broadening its long-time relationship with the retail giant by supporting Walmart’s demand deposit account—furthering Green Dot’s goal of serving low- to moderate-income consumers.
The banking giant will build out its buy now, pay later footprint by creating two key roles within its Marcus direct bank—and its ambitions could add prospects for its upcoming checking account.
Filipino fintech’s parent eyes neobank: PayMaya owner Voyager Innovation will launch a neobank after securing new equity capital—which will let users conduct all of their financial activities with the fintech.