In a regulatory-wary environment, Synapses are firing: A defecting client led to layoff of 40% of the banking as a service platform provider’s employees. We unpack why BaaS is looking less and less like easy money for banks.
Launching 13 products can help Klarna capture more consumers as holiday shopping picks up steam
The feature can boost customer engagement with the wallet and help it better compete against Apple Pay and Google Pay, which already have similar functionality
This can help Amex compete against Visa and Mastercard in the country and capitalize on the market’s growing credit card volume
Metro Bank’s plight causes flashbacks to US regional bank failures: The UK bank’s plummeting stock price may also raise questions in the minds of investors and depositors about the health of its fellow UK challenger banks.
Assistive tech helps banks tap into the large, growing market of disabled customers and avoid monetary and reputational risks.
Credit losses are climbing, credit conditions are tightening, and consumer sentiment is on the decline
The new rewards can help offset growing dissatisfaction with credit card rewards
Past “anti-steering” lawsuits have had mixed success, but it could put a dent in the PayPal brand
Whether a virtual assistant gets a human name or a less personal descriptive label, it’s still promoting the financial institution’s image and branding.
The move can bring in more volume on PayPal’s cards and enhance consumer loyalty
The tracking feature brings added utility to the card and can improve the overall UX
The card will be released early next year to capitalize on growing T&E spending, which is helping prop up overall credit card spend
Helping Gen Z save for retirement—and navigate competing financial priorities such as student loans—gives banks an opportunity to form long-term relationships with young investors.