Digital banking

Challenger bank helps customers erase carbon footprints

03/03/21

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

[more]

Capital One board expands to add Facebook, Nike executives

03/02/21

The new directors are Ime Archibong, whose team builds and tests mobile apps at Facebook, and Craig Williams, president of the Nike product line named after former NBA superstar Michael Jordan.

[more]

TD to close 82 U.S. bank branches as COVID drives digital growth

02/25/21

Toronto-Dominion Bank said it will close 82 bank branches in the U.S. as part of a “store optimization” in its American unit, where net income dropped in the fiscal first quarter.

[more]

Klarna said to raise up to $1 billion at $31 billion valuation

02/24/21

The fresh funding would recrown the Swedish company as Europe’s most valuable startup after the payments business Checkout.com was valued at $15 billion.

[more]

Thrivent pursuing ILC charter to offer nationwide digital platform

02/24/21

The Fortune 500 conglomerate is looking to form Thrivent Bank to provide banking products to more customers.

[more]

Yellen signals interest in backing digital-dollar research

02/22/21

Treasury Secretary Janet Yellen said a digital version of the dollar could help address hurdles to financial inclusion in the U.S. among low-income households.

[more]

SPACs supercharging fintechs

02/19/21

MoneyLion and Opportunity Financial are following in the footsteps of financial technology businesses that have raised billions of dollars from special purpose acquisition companies. The quick injection of funds is expected to accelerate their growth as well as make them more competitive with banks and other mainstream financial services firms.

[more]

How new robo adviser fits into Goldman's tech strategy

02/18/21

The automated investing tool is part of Goldman Sachs's effort to be a full-service digital bank and to help partners like Apple and Stripe offer financial products, according to Stephanie Cohen, global co-head of consumer and wealth management.

[more]

Fintech inspired by Black Lives Matter targets underbanked

02/17/21

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.

[more]

How this bank’s digital brand is succeeding where others have failed

02/16/21

Others, like JPMorgan Chase, have shut down their mobile-only brands. But Rising Bank, Midwest BankCentre's three-year-old neobank, is meeting its deposit goals, adding new products and avoiding cannibalization, says Dale Oberkfell, the bank's president.

[more]