More than a million British customers used open banking for the first time in January. The addition of 1.2 million first-time users during the month raised the number of consumers and small and medium-sized businesses (SMBs) using open banking in the United Kingdom above the...
Banking faces a critical juncture. Against a rising tide of inflation and record debt levels, 59% of retail bank customers say they expect help from their financial institutions (FIs) in understanding and managing their financial health. All too often, however, consumers are finding that help lacking. United States retail bank...
Goldman Sachs has reportedly stopped plans to launch a branded credit card for retail customers. Reached for comment Wednesday (Feb. 15) by PYMNTS, a spokesperson for the bank downplayed the decision, saying the consumer card was something that was discussed but never a “meaningful” part...
Nearly three quarters of consumers say they’d like their bank’s help to better manage their monthly budgets – an opportunity that Truist’s Sherry Graziano and Ken Meyer say paves the way for banks to become their digital-first personal financial advisers.
More consumers are struggling with their finances and budgeting. A recent survey found that 55% of Americans are in a difficult financial position, up 37% year over year. Digital banking tools can help, according to 47% of consumers, and while they have grown more reliant...
With more and more consumers embracing digital-first banks, the under-18 crowd presents the next generation of customers. But digital banking products for minors have not all been successful. In January, Ruuky, a Hamburg-based neobank aimed at teenagers, filed for insolvency, blaming difficult market dynamics and the...
ING has teamed with Amazon to help Belgian customers get cash back on purchases. “Amid the current cost of living crisis, balancing household expenditure has perhaps never been so difficult,” the Dutch banking group said in a news release Monday (Feb. 13). The release touts that “potential relief” is available...
Digital banking company DCI has teamed with Atomic to offer consumers easier direct deposit access through their banks. The partnership announced in a Monday (Feb. 13) news release, will let DCI customers tap into account funding streams without having to build in-house integrations or invest in new technological infrastructure. “This...
Chase is expanding its small business banking workforce by 20% over the next two years. By hiring 500 small business bankers through 2024, Chase aims to expand its relationships with small business owners, help them navigate macroeconomic challenges and offer them access to deposit, credit...
