ATMs offer crucial financial services, allowing most bank customers to quickly access cash on demand without traveling far to do so. More than 10 billion ATM transactions occur in the U.S. each year, with the average ATM used 300 times per month and 40 percent...
Teen banking firm Step announced on Thurs. (Feb. 25) that it has amassed over 1 million users since its launch four months ago. Step offers financial tools to teens under age 18. Users can build credit with an FDIC-insured bank account, secured spending card and Step’s...
Consumers’ shifting cash use has banks second-guessing the effectiveness of the strategies they use to support their ATM networks. In this month’s Digital-First Banking Tracker, PYMNTS spoke with Santander Bank’s Tamara Zaichkowsky on how turning to a cloud-based ATM-as-a-service model is helping the bank tap...
There are roughly 270 million people living and working in Indonesia today, roughly 92 million of whom do not have bank accounts. That leaves a little over a third (34 percent) of the nation’s population unserved by the banking system. It’s a reality that makes providing...
Financial institutions (FIs) continue to confront one of the most significant upheavals in the banking industry’s history as they continue to grapple with the pandemic and its ensuing economic downturn. Digital banking has become many consumers’ primary avenue for bank interaction, with 80 percent of...
In today’s top news in digital-first banking, Wells Fargo announced that it has made a deal to sell its asset management business for $2.1 billion, while a Federal Deposit Insurance Corporation (FDIC) report discovered that bank profits fell 36.5 percent in 2020. Plus, Alkami Technology...
In today’s top news in digital-first banking, Brex has filed to open an industrial bank in Utah, while MYBank is getting in on China’s moves toward launching a cryptocurrency. Plus, LINE Corp. and Mizuho Financial Group have agreed to strengthen their investment in LINE Bank...
LINE Corp. and Mizuho Financial Group have agreed to increase their investment in LINE Bank Preparatory Co. and to make changes to its management structure as part of creating a new bank in Japan. The companies said in a press release that the goal is to...
In today’s top digital-first banking news, Revolut Business is launching quick-response (QR) codes to facilitate socially distanced payments, while SeedFi has notched $65 million in funding. Plus, an official with the Boston Fed anticipates the economy gaining momentum in the second half of this year....
