Better Financial offers customers up to $5,000 per year in accident coverage, prescription drug discounts and medical debt negotiation to certain account holders.
Aspiration makes donations to a tree-planting charity based on debit card spending, buys carbon offsets for gas purchases and rates retailers' environmental records.
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 stamps and an app that temporarily sweeps cash into cryptocurrency.
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.
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.
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.
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.
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 customers.
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.
