News Topic: CHIME

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Customers in the challenger bank's pilot program drew down an average of $200 each in advance of the government's $1,200 payments. ... Read full article

Leaders like Chris Britt at Chime, Brett King at Moven and Jill Castilla at Citizens Bank of Edmond are getting inventive as they try to help those hurt economically by the pandemic. ... Read full article

The challenger bank might use the proceeds from its latest funding round to buy other fintechs that would allow it to add more products and services, its CEO said. ... Read full article

Consumer trust issues have long been a stumbling block for challenger banks, but many say Google will face bigger obstacles. ... Read full article

Earlier this decade, a boom in low-cost prepaid cards undercut the firm's business model. Now the fiercest competition is coming from venture capital-backed startups that offer accounts with no overdraft fees. ... Read full article

Outages last week at Chime and Varo Money have executives on the defensive. ... Read full article

The payment processor Galileo suffered what it described as an "operational incident" that caused more than 24 hours of outages at the fintechs Chime and Varo Money. ... Read full article

Surety's first online bank, booyah, is aimed at college students and young grads. ... Read full article

Hackers go in for the kill when challenger banks and others launch retail products. So the companies are forced to step up their defenses — fast. ... Read full article

Charging customers $40 for a $10 overdraft “makes no mathematical sense,” Chime CEO Chris Britt says in a critique of traditional banks. ... Read full article

Its latest feature makes it one of several mobile-only challenger banks in the U.S. that do not charge overdraft fees of any kind. ... Read full article

Challenger banks promote the concept of empathy in banking, which sometimes means forgoing revenue to build up customer goodwill. ... Read full article

The CEO of the digital-only bank Chime says it has quadrupled its membership in a year. So why doesn't his counterpart at Varo believe him? ... Read full article

As N26 schedules its launch for midyear, it will face off against other startups and mobile-only spinoffs from incumbent financial institutions. ... Read full article

Chime, Chart IQ, Starling Bank and several other startups have raised millions of dollars from venture capital and private-equity firms this year. Here's what they plan to do with their haul. ... Read full article

Digit, Chime and Pluto are among those said to be stepping into a void left by the banking industry. But designing helpful enough, yet flexible enough, financial safeguards for consumers is easier said than done. ... Read full article

The San Francisco challenger bank is adding 150,000 customers per month and plans to expand its financial product offerings. ... Read full article