Category: Retail Banking

Activity, News, Retail Banking

Revolut withholds $90,000 from investment manager with “no real response” for months

March 31, 2021

Via: FinTech Futures

In this exclusive investigative feature, the investment manager, who wishes to be referred to simply as Mr. Chen, tells FinTech Futures about his battle to receive the $90,000, which only became available to him on the eve of 26 March […]

Activity, Retail Banking

The Missing Piece in Customer Engagement Strategies

March 30, 2021

Via: Bank Director

Usage of appointments in banking has increased significantly since the outbreak of the coronavirus, and is expected to continue in a post-pandemic world. Appointments increased nearly 50% in the second half of 2020, according to customer usage data, allowing banks […]

Activity, Capital and Risk, Credit, Retail Banking

Stilt prepares to offer US immigrants banking products and a credit history

March 29, 2021

Via: FinTech Futures

The firm, launched in 2016, provides loans of up to $25,000 to foreign nationals in the US at what it calls “better rates” than existing options. Stilt says it can get an update on loan applications within 24 hours. A […]

Activity, Retail Banking

New US bank on the block Sable aims to support new migrants

March 22, 2021

Via: FinTech Futures

The neobank, underpinned via a partnership with Coastal Community Bank, aims to offer new arrivals both debit and credit accounts. It says users do not need to have a social security number and can use its services to build up […]

Activity, Retail Banking

US fintech Sincere to target “pet parents” with debit cards

March 19, 2021

Via: FinTech Futures

The fintech intends to wrap the card in pet-related rewards, covering things like pet food, vet bills, and rescue shelters. Merchant partners listed on Sincere’s website include Walmart, Amazon, Target, and Walgreens. As well as smaller, pet care-focused brands, such […]

Activity, Retail Banking

Digital bank for immigrants opens meet-up space in Miami

March 18, 2021

Via: Banking Dive

Challenger bank Majority opened a meet-up center in Miami’s Little Havana on Thursday, as the startup continues its push to provide bundled digital banking, wire transfer and international calling services to the U.S.’s immigrant communities. “We built it to be […]

Activity, Channels, Retail Banking

How U.S. Bank tripled its digital account openings

March 17, 2021

Via: Banking Dive

By cutting more than half of the time it takes for customers to open a checking account online, U.S. Bank says it’s new streamlined platform, which it launched in August, has nearly tripled its digital checking account openings year-over-year. “The […]

Activity, Capital and Risk, Credit, Retail Banking

Mastercard, Visa to postpone some fee increases next month

March 16, 2021

Via: Payments Dive

Durbin and Rep. Peter Welch, D-VT, sent a letter to the companies this month urging them not to increase fees. The merchants’ trade group Merchants Payments Coalition has also been pressing the credit card companies to hold off on a […]

Activity, Investment Banking, Retail Banking

Citi marks a quiet transition as Fraser takes the reins

March 2, 2021

Via: Banking Dive

For all the anticipation of leadership change at Citi — the bank announced in September that Jane Fraser would become the first woman to lead a U.S.-based bank of its size, and hints of her ascent were predicted as early […]

Capital and Risk, Credit, Retail Banking

Alpha Bank finalises €10.8bn loan portfolio sale

February 23, 2021

Via: FinTech Futures

The Greek bank is also offloading 80% of its loan services provider Cepal Holdings. It is expecting to reduce Alpha’s non-performing exposure, and non-performing loans, to 24% and 13% respectively. Known as Galaxy, the portfolio sale is the second-largest securitisation […]