Boston-area bank has national ambitions for digital-only unit: Cambridge Savings Bank’s direct bank subsidiary Ivy Bank faces an uphill climb due to marketing costs and the need to differentiate itself from other digital-only players.
Square announced a platform to help developers create DeFi applications in a bid to recreate its crypto revenue success with DeFi.
Temenos pushes customization to help banks personalize their user experience: The banking software vendor’s product will enable its customers to update products quickly and tailor their digital channels by demographic—which could help level the playing field for smaller financial institutions.
TD Bank digital glitch had very bad timing: The bank restored account access to online and mobile channels after an outage attributed to a service provider—unfortunately, it coincided with a payday and the first distribution of monthly US Child Tax Credit payments.
This month, the bank is starting to deploy its integrated digital offering, potentially reaching half a million customers in July—a measured approach that reduces the risk of any glitches alienating too many customers.
With the $70 million raise, the insurtech will further gamify the industry, and a recent uptick in online searches for life insurance and a need for better employee benefits can increase growth.
Bank of Ireland’s digital-usage videos aim to reassure hesitant customers: The bank’s 15-part series of educational videos will teach customers how to conduct banking activities digitally—a move that could help build loyalty and wean people away from branches amid the company’s planned closures.
This latest funding round adds to its war chest, providing ample gunpowder to deploy as it looks to expand its products’ breadth and geographic reach.
U.S. Bank’s user mix sharply shifts to mobile: More of the bank’s active digital users conducted business over mobile devices than on larger screens, with mobile hitting 60% among active digital users in Q2 2021. This clear preference and the accolades that its mobile app has received validate U.S. Bank’s digital strategy.
With Just Invest, Vanguard acquires the tech to offer direct indexing to a wider pool of investors and corner that market, as it has with traditional index investing.