News Topic: Digital banking

Visa, Mastercard and PayPal are each putting up $10 million to back the cryptocurrency; company “gearing up” to reboot its flagging small business lending unit. ... Read full article

The Goldman Sachs unit that offers savings accounts and makes personal loans says it will cover certain expenses for its customers who elect arbitration. ... Read full article

Monzo has been adding roughly 200,000 users a month in the U.K., and is hoping to replicate that success as it launches in the U.S. ... 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

CEO Greg Carmichael said Wednesday that online-only banks "aren't relationship-based" and that Fifth Third would stick to its plan of attracting new depositors by selectively expanding into new markets. ... Read full article

Sens. Elizabeth Warren, D-Mass., and Doug Jones, D-Ala., cited research that found algorithmic lending can lead to higher interest rates for minority borrowers. ... Read full article

In a study of 27 global markets, the U.S. ranked near the bottom for consumer use of fintech, raising questions about why Americans appear reluctant to dive in. ... Read full article

The investment firm is launching a company called Akoya that it says will help ease the technical aspects of data sharing, as well as disputes and liability issues, for banks, fintechs and data aggregators. ... Read full article

Jeremy Balkin, head of innovation at HSBC Bank USA, shares how the bank is investing in retail innovation, including a $350 million core system. ... Read full article

Alkami Technology said it would use its latest round of $55 million in funding to expand the white-label services it currently offers small banks and credit unions. ... Read full article

The digital bank is a whole new line of business for Goldman, meaning there's no risk that it is cannibalizing from the main institution, said Omer Ismail, the head of the bank's U.S. consumer business. ... Read full article

The Enloe State Bank in Texas becomes the first bank to fail in 17 months; BB&T dangles promise of bonus payments to top executives if they stay; where JPMorgan Chase’s Finn experiment went wrong; and more from this week’s most-read stories. ... Read full article

The bank launched Finn in an effort to attract millennials. But there were problems with how it implemented the digital-only brand, experts said. ... Read full article

Boston-based Trio is openly offering its cash management account as capital at risk, offering big incentives if consumers agree to sign up for an uninsured account. ... Read full article

A year after launching the digital bank, JPMorgan Chase has concluded that the millennials it targeted don't need a separate brand. ... Read full article

On-demand wage delivery has caught on in other industries. Banks have taken notice. ... Read full article

The chief operating officer for the Americas at Deutsche Bank, as well as SoFi's heads of marketing, risk and capital markets, are all moving on; John Williams tells bankers they need to do more to clean up misconduct at their companies. ... Read full article

On his watch, the $170 billion-asset HSBC USA became the first bank in the world to deploy a customer-facing robot in a branch. It's also the first bank to use wearable technology to help front-line branch staff. ... Read full article