April 29, 2022
Via: Banking DiveKeyBank previewed its policy changes at its investor day in March, and signaled it is working on a handful of other offerings for future rollout, including early wage access (two days ahead of payday with direct deposit), instant access to […]
April 27, 2022
Via: Payments DiveVisa and other card companies’ businesses have been recovering from the damper that the COVID-19 pandemic put on international corporate and consumer travel and spending. That was evident from results for Visa’s fiscal second quarter in which that cross-border activity […]
Activity, Corporate Banking, Retail Banking
April 18, 2022
Via: Banking DiveBank of America set aside just $30 million to counter potential credit losses, CNBC reported — far less than the likes of Citi or JPMorgan, which hold greater exposure to Russia. “[Russia] has never been a big part of our […]
Activity, Investment Banking, Retail Banking
April 12, 2022
Via: Banking DiveStep said it has designed the new investing feature responsibly, “with teens’ safety top of mind.” Parents will be able to oversee their teen’s access to the investing feature and will have the ability to manage their teen’s monthly limits, […]
April 5, 2022
Via: American BankerCitigroup agreed to sell its consumer banking operations in Bahrain to Ahli United Bank BSC as part of the lender’s continued push to simplify. The transaction includes Citigroup’s retail banking, credit card and unsecured-lending businesses, and excludes the firm’s institutional […]
March 30, 2022
Via: Banking DiveIndia marks the ninth market from which Citi has solidified its retreat in the past 12 months. The bank laid out a strategy last April to exit from retail operations in 13 markets, concentrating instead on four hubs with higher […]
March 4, 2022
Via: Banking DiveThe COVID-19 pandemic exacerbated growth in digital banking, as physical branches were forced to temporarily shut their doors. But it is likely the pandemic accelerated an underlying trend, rather than kick-starting a new one, Ryan found. “Most millennials and younger […]
March 2, 2022
Via: FinTech FuturesBink’s technology links a customer’s payment cards to participating retailers’ loyalty and customer engagement programmes, ensuring customers are identified and rewarded by retailers every time they shop with their card. The loyalty solution will be rolled out to Lloyds’ retail […]
Activity, Capital and Risk, Credit, Retail Banking
February 3, 2022
Via: JD SupraThe CFPB recently released a new analysis of how changes in responses to consumer complaints provided by nationwide consumer reporting companies has resulted in less consumer relief. This analysis shows that in 2021 the big three credit reporting companies together […]
Activity, News, Retail Banking
January 10, 2022
Via: FinTech FuturesA recent Gallup report, for instance, revealed that engaged customers bring 37% more annual revenue compared to disengaged customers. Yet far too many banks still have inadequate engagement strategies in place, which in the long run, could significantly undermine their […]
Activity, Channels, Retail Banking
January 3, 2022
Via: FinTech FuturesDuring the pandemic—when brick-and-mortars shut their doors and consumers flocked to the internet and their mobile devices for basic services—the digitisation of commerce and specifically the payments industry went into overdrive, making a half-decade of progress in a year’s time. […]
December 13, 2021
Via: FinTech FuturesThe way in which consumers buy and retailers sell their products has changed dramatically thanks to the available resources of fintech businesses. The pandemic has fuelled the biggest change in the retail experience for the last century. Decade’s worth of […]
December 9, 2021
Via: Banking DiveWednesday’s move expands on a policy shift JPMorgan instituted in August, when it raised the overdraft threshold so that only accounts owing more than $50 would incur fees. (Before August, the limit was $5.) The bank in August also eliminated […]
November 30, 2021
Via: Payments DiveThe spat between retail juggernaut Amazon and card giant Visa over credit card fees levied in the U.K. may have ramifications for rival credit card companies such as Mastercard, American Express, and Discover, according to analysts. At issue in the […]
November 22, 2021
Via: Banking DiveUBS on Saturday nominated former Morgan Stanley President Colm Kelleher to become its next chairman — a move that could be solidified through a vote at the Swiss bank’s annual shareholder meeting April 6. The bank — the world’s largest […]
Activity, News, Retail Banking
November 8, 2021
Via: Banking DiveCiti will incur between $1.2 billion and $1.5 billion in charges to wind down its consumer banking operations in South Korea, the bank said Monday in an amendment to an earlier Securities and Exchange Commission (SEC) filing. The bank said […]
October 29, 2021
Via: FinTech FuturesOne of my brightest digital strategists, Kam Chana, suggested that we should add features to support people with mental health issues. I have to admit, at the time we had no stats/numbers as to how big a need this was, […]
Activity, Investment Banking, Retail Banking
October 18, 2021
Via: Banking Dive“Now more than ever, it’s essential to provide our clients with best-in-class solutions, products and services. Capital One and TripleTree together are well-positioned to help our healthcare clients navigate the ever-changing external landscape at every stage of their business,” Darren […]
October 7, 2021
Via: FinTech FuturesMonai, which is still in the waiting list stage, says users can use time spent playing mobile games to earn interest on savings they deposit in the app. The firm also promises to offer a savings advisor, which will provide […]
October 6, 2021
Via: TechBullionWith a ton of finance companies offering multiple products, it can be daunting to determine which one best suits your personal financial needs. But among the many financial services options available today, Chime has proven to be a popular choice […]