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.
Digital banking is particularly popular among members of younger generations, such as millennials and Generation Z, many of whom have never banked in a branch at all. These generations are also the least likely to have a solid understanding of financial matters, however. Forty-one percent...
“As far as banking infrastructure goes, the United States has the worst in the modern world.” Chris Dean, co-founder and CEO of Treasury Prime, told Karen Webster that banking as a service can advance financial services in the U.S. to a level that meets and...
Samsung Inc. is offering a product called “Samsung Money by Sofi,” which features no overdraft, convenience or account management fees. According to a sign-up offer on the company’s website, “Samsung Money by SoFi is the new way to grow your hard-earned cash, letting you save,...
Neobank Freo has rolled out a digital savings account, a report from Economic Times of India said Tuesday (June 21). Called FreoSave, the new service will offer quick access to credit and shopping. This will be done in partnership with Equitas Small Finance Bank. The...
Digital bank Nubank is on the hunt for FinTech bargains in Latin America as venture capital money dries up amid rising interest rates and tighter credit flows, triggering possible hard times for struggling startups. Nubank CEO David Vélez told Financial Times it will make sense...
The technologies behind baas are incredibly valuable, as they facilitate smooth, seamless experiences and pave the way for new players to enter the market. White-label banking—another term for private financial services or banking as a service (BaaS)—can speed up an organization’s go-to-market strategy by removing...
Moving to a new country is never easy, and gaining access to banking services is one of the more challenging aspects for new residents of the United States. Missing documents, lacking a Social Security number and even cultural differences between banking in the U.S. compared...
