The pandemic has served as the biggest financial industry crisis since the 2008 recession, with social distancing guidelines, stay-at-home orders and the economic fallout, forming a triple threat that has rocked the sector. Thousands of bank branches across the U.S. have closed temporarily or permanently...
Loans have served as lifelines for SMBs during the pandemic, but accessing these funds often requires navigating legacy onboarding systems and friction-filled fraud-prevention measures. In this Digital-First Banking Tracker, Sam Sidhu, vice chair and chief operating officer at Customers Bank, explains how banks can leverage...
Financial institutions (FIs) are turning their focus to the post-pandemic world and contemplating the measures that will need to be taken in a radically changed environment. Digital banking will assuredly play a huge role in the industry’s coming years, as 56 percent of current digital...
In today’s top news in digital-first banking, Mexican neobank albo has integrated Acuant’s Trusted Identity Platform, while British FinTech Revolut has submitted its draft application for a U.S. banking license. Plus, bank loans continue to drop even with a rise in assets. Mexican Neobank albo...
In today’s top news in digital-first banking, Sharonview Federal Credit Union has collaborated with Elan Financial Services on a credit card program, while BrightFi is joining forces with i2c to offer mobile financial services to underbanked and unbanked consumers. Plus, Chime is holding early talks...
In a sort of financial “Scooby-Doo” moment, J.P. Morgan Chase CEO Jamie Dimon ignited controversy in mid-January, telling managers of the global banking behemoth that when it comes to FinTechs, “absolutely, we should be scared s—less” about these entities. Rebecca Mann, head of enterprise partnerships,...
Bank Jago plans to start offering some banking services in mobile apps ahead of its rollout of full-fledged products, Bloomberg reports. The services Bank Jago plans to offer include loans, which will help the lender gain traction in Indonesia’s burgeoning digital banking industry. Bank Jago...
In today’s top news in digital-first banking, Plaid is introducing Plaid Income in an effort to streamline the income verification process, while Revolut Bank has rolled out services to 10 more European nations. Plus, Hippo Enterprises Inc. plans to go public by merging with a...
Banking industry upstart Revolut Bank said Thursday (March 4) that it has rolled its services out to 10 more European countries. The London-based company said customers in those countries can now benefit from its “European specialised banking license” that includes “a deposit-guarantee scheme,” Revolut said...
