The banks see strength — in consumer spending, debit, credit and in a recession that may prove short-lived. But they are preparing for some bumpiness in the months ahead and some weakness in those same metrics. Watch what they say, in other words, and what they do....
Uprise, a FinTech which aims to help Gen Z manage money in a “digital family office,” has launched after raising $1.4 million in a seed funding round. The company already has a 7,000-strong waiting list in the U.S., AltFi reported Tuesday (July 12), and plans...
Eighty-four percent of the entire U.K. population still banks with the top seven high street banks, which include the “Big Four” clearing banks: Barclays, Lloyds, HSBC, and NatWest. That data, published in a recent Bank of England (BoE) report, shows the highly concentrated nature of...
This week in the news, the U.K is to get two new neobanks as Ashman and Kroo are granted licenses. Ashman has been issued a banking license “with restrictions” by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA). It announced on its...
Australian challenger bank Volt is returning more than $100 million to its estimated 6,000 customers next week and handing its banking license back to regulators after the FinTech startup failed to raise enough capital to keep growing. “Volt is doing everything possible to return the...
There’s an old saying in the newspaper business: Never argue with someone who buys ink by the barrel. The implication of that statement is that some people or entities, wield so much power that battling against them becomes an uphill battle. We’re reminded of that...
Digital banking has become the standard banking method over the past several years, largely due to the boost it received during the course of the pandemic as bank branches shut down or reduced their hours, forcing consumers to turn online to do their banking. More...
A courtroom verdict in Switzerland is signaling that banks will be under increasing scrutiny for the acts they take and have taken, to combat fraud — stretching back over decades. The liabilities, and possible penalties, will be significant. To that end, as reported Monday (June 27),...
In this month’s "Digital-First Banking Tracker," Abhijit Chaudhary, chief product officer at GO2bank, explains how the addition of simple tools, such as credit monitoring or bill consolidation, can bring consumers a host of monetary benefits.
