London-based FinTech company Monzo, in an effort to simplify the bill-paying and household budgeting process, has made it possible for account holders to make card payments from their various “pots,” or digital piggy banks, according to a Tuesday (Sept. 21) blog post on the company’s...
U.K.-based financial super app Revolut will be debuting commission-free stock trading for U.S. customers soon, according to a CNBC report Tuesday (Sept. 21), after it obtained a broker-dealer license. Revolut became a so-called super app by continuing to add new features to its platform, after...
PayPal is launching a super app that offers consumers an all-in-one platform to manage personal finances, including early-access direct deposit, high-yield savings, shopping tools, bill payments, rewards and more. Dan Schulman, president and CEO of PayPal, said in a press release that the new app...
Health concerns and reduced access to brick-and-mortar locations prompted a large portion of consumers to shift their banking from in-person to online in 2020, with consumers paying bills, depositing checks and opening bank accounts without ever stepping inside a physical location. Even branch loyalists adapted...
Mobile and online banking options have been available for years, but health and safety concerns over the past 18 months have pushed many technology-hesitant consumers to reevaluate their financial habits. Holdouts who always had insisted on meeting face-to-face with tellers at branches suddenly either found...
The state of open banking in the U.S. might be summed up in a few words: fragmented, and perhaps, dysfunctional. In an interview with Karen Webster, Paiak Vaid, head of Global Product Partnerships at TrueLayer, said U.S. companies, particularly financial institutions (FIs), have their work...
Businesses and consumers are returning to their pre-pandemic norms, but some of their behaviors have changed. Banking customers are less likely to visit banks now than they were 18 months prior, and nearly all consumers have an online or mobile banking feature at their disposal....
Central bank digital currencies (CBDC) are being trialed for cross-border payments in Australia, Malaysia, Singapore and South Africa, according to Reuters and other news outlets on Thursday (Sept. 2). The pilot project will enable financial institutions (FIs) to use their own CBDCs with one another...
Banking FinTech company Revolut is still in need of billions of dollars in annual sales before it can go public, according to a Bloomberg report. “To be able to IPO successfully we need to be at least in the few billion dollars range of revenue...
