Digital banking

Some customer fraud and a lack of cooperation from partners Huntington Bank and Dwolla prevented Beam Financial from returning funds to savers, says Aaron Du, the fintech's CEO. He says he’s trying to make things right, but Huntington and Dwolla are taking the dispute to court.

Customers say the Beam savings app is down and the company isn't returning their money. The situation is putting third parties like Huntington and Dwolla in the firing line, though they say they're not at fault.

The challenger bank now offers small businesses checking, lending and payments services on one platform and can link them through Plaid to external bank accounts.

Both developments are part of the company’s strategy of becoming a full-service bank for its young, affluent customer base.

The global bank has rolled out cash-flow forecasting tools as financial institutions race to meet urgent demands from commercial customers trying to navigate uncertain times.