Digital First Banking news and trends

Mercado Pago Applies for Banking License in Mexico
Digital-First Banking // September 25, 2024

Mercado Pago, the FinTech arm of MercadoLibre, reportedly applied for a banking license in Mexico earlier this month. The firm sent the application to the Mexican regulator, the National Banking and Securities Commission (CNBV), Reuters reported Wednesday (Sept. 25). Mercado Pago is the second-largest digital wallet in Mexico,...

FinTechs Now See Credit Unions as Collaborators, Not Competitors
Credit Unions // August 27, 2024

Many FinTechs partner with credit unions (CUs) and other financial institutions (FIs) to provide the innovative products and services that today’s digital-first consumers expect. In fact, almost all view CUs as collaborators more than competitors. To be successful partners, FinTechs need to align their innovation...

41% of Banks Offer Embedded Finance Solutions, Have FinTechs to Thank
Digital Banking // August 27, 2024

In today’s financial services arena, embedded finance and banking-as-a-service (BaaS) have emerged as transformative forces, redefining the way banks and financial institutions (FIs) engage with consumers and businesses. At the core of this shift is the use of application programming interfaces (APIs), which enable smooth...

Exclusive: Mercado Pago CEO on Building Brazil’s Biggest Digital Bank
Digital-First Banking // August 16, 2024

Most countries measure banking activity in terms of where and how it happens. Hence distinctions such as in-branch, ATMs, online and mobile. But in Latin America, for all intents and purposes, there’s only one kind of banking: digital. It’s reflected in PYMNTS recent “How The...

Interviews & Exclusives
FinTechs Now See Credit Unions as Collaborators, Not Competitors

August 27, 2024
Many FinTechs partner with credit unions (CUs) and other financial institutions (FIs) to provide the innovative products and services that today’s digital-first consumers expect. In fact, almost all view CUs as collaborators more than competitors. To be successful partners, FinTechs need to align their innovation roadmaps with CUs’ innovation agendas. A key objective among FinTechs […]

41% of Banks Offer Embedded Finance Solutions, Have FinTechs to Thank

August 27, 2024
In today’s financial services arena, embedded finance and banking-as-a-service (BaaS) have emerged as transformative forces, redefining the way banks and financial institutions (FIs) engage with consumers and businesses. At the...

Exclusive: Mercado Pago CEO on Building Brazil’s Biggest Digital Bank

August 16, 2024
Most countries measure banking activity in terms of where and how it happens. Hence distinctions such as in-branch, ATMs, online and mobile. But in Latin America, for all intents and...

MoneyLion Continues to Play Winning Hand With Middle-Income Americans

August 07, 2024
The MoneyLion business model pivot continues. A year after posting substantial losses as a neobank, the financial services portal rode its new business model to a second straight profitable quarter...

Quick Reads
NCR Voyix Finalizes $2.4 Billion Digital Banking Sale to Veritas Capital; Rebrands as Candescent

September 30, 2024
NCR Voyix has completed the sale of its digital banking unit, the company said in a Monday (Sept. 30) news release. The unit was sold to Veritas Capital for $2.45 billion in cash, along with the potential for additional contingent consideration of up to $100 million, the company said in the release. Rebranded as Candescent, the digital […]

Mercado Pago Applies for Banking License in Mexico

September 25, 2024
Mercado Pago, the FinTech arm of MercadoLibre, reportedly applied for a banking license in Mexico earlier this month. The firm sent the application to the Mexican regulator, the National Banking and Securities...

NCR Voyix Sells Digital Banking Arm for $2.5 Billion

August 06, 2024
Digital commerce firm NCR Voyix has found a buyer for its cloud-based banking business. Tech investor Veritas Capital has agreed to purchase the banking platform for $2.45 billion in cash, along with “future additional contingent consideration”...

Australian Banking Association: Open Banking Rules Need ‘New Pathway Forward’

July 08, 2024
Australian Banking Association (ABA) CEO Anna Bligh said its “time to go back to the drawing board” when it comes to the country’s open banking rules. Bligh said this in a...