News Topic: Challenger Bank

Better Financial offers customers up to $5,000 per year in accident coverage, prescription drug discounts and medical debt negotiation to certain account holders. ... Read full article

Aspiration makes donations to a tree-planting charity based on debit card spending, buys carbon offsets for gas purchases and rates retailers' environmental records. ... Read full article

Paybby, whose founder wanted to address disparities in the financial system after the George Floyd protests, is working with banks and others to develop products especially for underserved communities. They include a debit card that substitutes for food ... Read full article

Initially created as a budgeting app, Charlie has added new features that help users visualize their debt and then chip away at balances. Eventually, it hopes to add more banklike products. ... Read full article

The company, poised to complete its purchase of Radius Bank, will enjoy new cross-selling opportunities, gain additional sources of fee income and capital as well as benefit from greater regulatory clarity, CEO Scott Sanborn says. ... Read full article

BBVA’s acquisition of Simple, the first neobank, was closely watched as a possible model for others in the industry. But the shutdown last week of Simple has again stirred a debate about whether upstarts and traditional players can ever fit together. ... Read full article

The decision to shutter the digital bank comes just weeks after BBVA USA announced it was selling itself to PNC Financial Services Group for $11.6 billion. ... Read full article

GO2bank marks the latest effort by the prepaid card issuer and banking-as-a-service provider to deliver more traditional banking products directly to consumers. Its mobile-first account offers cash back, overdraft protection and a secured credit card to ... Read full article

Fifth Third is partnering with Provide and Panacea Financial works with Sonabank in Virginia to meet the specialized needs of medical professionals who own their own practices. ... Read full article

To get the word out to the Indian and Asian immigrants it's targeting, OnJuno is using social media influencers that include a well-known Japanese-American chess player and running ads during streamed cricket matches. ... Read full article

Fintech success stories have encouraged investors to back more startups, but newcomers will be hard-pressed to attract enough customers to compete while keeping expenses down. ... Read full article

The challenger bank aimed at Gen Z and counts singers, sports professionals, a social media personality and fintech executives among its investors. ... Read full article

As it does with savings, Digit's algorithm calculates how much users can siphon off their earnings into retirement without missing the funds. ... Read full article

Like LendUp, a small-dollar lender, Ahead Financials is targeting consumers who are gainfully employed but have blemished credit histories. ... Read full article

The 5-year-old company, which recently raised $131 million, says its strong growth reflects the timeliness of its mission: helping consumers who live paycheck to paycheck build wealth. ... Read full article

Daylight's initial product lineup includes a prepaid debit card with the customer’s chosen name and educational content around issues unique to LGBT households. ... Read full article

American Challenger Bank would offer consumer and commercial products using technology from Temenos. Organizers recently applied with the FDIC for deposit insurance. ... Read full article

The startup, created in partnership with conversational AI platform LivePerson, will encourage users to send sums of money to strangers. ... Read full article