News Topic: Digital banking

With 20- and 30-somethings just beginning to build financial wealth, banks must orient their business to meet the needs of these consumers. ... Read full article

One of the largest U.S. banks and a dominant data aggregator have signed an agreement designed to give customers more control over their data. ... Read full article

MoneyLion and Varo say familiarity with existing customers — whom they already offer savings, investment and personal finance products — will help them make smart credit decisions. ... Read full article

The largest financial institutions have a golden opportunity to capture more market share because of the under-40 crowd’s decided preference for digital banking, J.D. Power says. Yet so do nonbanks. ... Read full article

In addition to launching an automated investing app, the bank created a dedicated adviser unit to provide personal service to customers when they need it. ... Read full article

Numerated, vendor of loan prospecting, marketing and underwriting software that was developed within Eastern Bank, now has $32 million. ... Read full article

Bank Independent in Alabama was among the first to let customers bank through Amazon Alexa. Its digital chief, Kelly Burdette, shares how and why. ... 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

Despite the growth of digital advice, there's resistance to the business inside banks because of internal politics and a lack of data sharing, the company's CEO says. ... Read full article

A growing number of companies, led by Walmart, are offering payroll advance loans to their workers; Christian Sewing said he will invest 15% of his net earnings in the German bank’s struggling shares. ... Read full article

The core-banking provider Temenos, based in Geneva, was drawn to Kony's strong U.S. presence, its software for banks and a special app it owns. ... Read full article

The idea of a common digital identity for consumers has become more compelling amid the digitalization of the world's economy. Many bank and credit union executives consider it a natural fit, one the industry should be prepared to lead on. ... Read full article

Traditional players are getting innovative, and upstarts are becoming more sophisticated. The survivors will be companies that offer consumers an array of easy-to-use services, a venture capitalist says. ... 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

House Financial Services Committee Chair Maxine Waters, D-Calif., and a bipartisan congressional delegation met with Swiss government officials last week to discuss Facebook’s plans to launch and operate a digital currency. ... Read full article

The banks considered an “unusual” investment banking merger; Volcker rule win will be followed by fights on capital rules, liquidity and stress tests. ... Read full article

Real-time transactions, reward points and early access to paychecks are among the features N26 is attempting to sell consumers here. ... Read full article

The Financial Action Task Force’s recent guidance on data privacy regulations should serve as a warning to companies planning to test virtual currencies. ... Read full article