Citi’s checking account revamp creates ‘relationship tiers’: Its strategy could boost referrals to its wealth management business, which is still scrambling to gain traction.
The service lets companies create and push virtual cards to their employees’ mobile wallets
Best Buy warned that rising net credit losses could become a problem if the financial health of the consumer deteriorates in the coming quarters
The deal is part of Trustly’s strategy to expand into open banking payments in Europe as the payment method’s use explodes
Just as foretold, regulators raise long-term debt requirements for regional banks: To protect depositors in the event of a failure and bolster larger depositors’ confidence in these banks, they’ve also effectively been deemed “too big to fail.”
MetLife adds digitized help for bereaved families to its claims services: The Empathy app will offer personalized, step-by-step guidance for settling estates as well as access to emotional support.
Banks and fintechs look to insurance to boost profitability and customer loyalty: A survey finds financial executives think that offerings embedded in websites and apps are becoming a must-have, rather than a nice-to-have.
Rate hikes prompt consumers to shop for new auto insurance: But the increases haven’t kept pace with the rising cost of parts and labor, as insurers’ balance sheets show.
Getting a bank charter is a marathon, not a sprint: Fintechs are increasingly dropping out of the race, trying to buy a bank instead or settling for partnerships.
Neobank Guava plugs in the power of networking: A community hub designed to help Black creators and entrepreneurs grow their businesses will also promote Guava’s brand to its target audience.
Strong volume growth and 100 million users prove the BNPL provider’s successful expansion
Its rise in delinquencies exposes potential deterioration in the credit card market
The partnerships will help grow its volume as it digs it deeper into the $176B rewards industry
Ways to make financial wellness marketing pay off: Getting customers to use the materials and tools they claim they want is a challenge. Here are four tips to improve their engagement.
Key stat: US digital commerce platform gross payment value growth will slow down this year, increasing only 9.0% compared with last year’s 25.0%, per our forecast.
Cleanup after Italy’s windfall tax announcement continues: Now the European Central Bank is asking what it was thinking, as other European countries considering similar moves look on.
Bad things happen in threes: S&P joins Moody’s and Fitch in cutting credit ratings or warning about possible cuts for some US lenders, citing the risks posed by higher funding costs and the shaky commercial real estate sector.
Banks lean out in response to industry pressures and upcoming regulatory changes: Goldman is doubling down on serving the ultra-rich while Citi flattens its org structure.
It joins a frenzy of other payment providers racing to add the functionality
The mass media campaign targets the Hispanic community in the US, which is the world’s top remitting country