Last week’s global outage will further tarnish its reputation and ramp up regulatory pressures, hindering its fintech plans.
Tech costs in this week’s reports will receive close scrutiny for potential earnings drag. Even if they do, the spending is necessary to fend off digital-only competitors.
Judo Bank sees strong investor interest in its upcoming IPO: The Australian SMB-focused neobank already has commitments for most of its expected proceeds. That vote of confidence from investors is a good sign for its business model.
Temenos, Mbanq launch as-a-service offering tailored for credit unions: Credit Union-as-a-service will help US firms roll out digital products faster and potentially keep pace with digital-only newcomers.
The US digital broker added access to 10 cryptos as, like all its peers, it could not ignore the growth opportunity.
On today's episode, we discuss who is using "buy now, pay later" (BNPL) services, why they're choosing them, whether banks can compete, and the dark side of these payment options. We then talk about whether Amazon's tech-fueled fitting rooms can move the needle, what early Black Friday deals from Amazon really mean, and some advertising secrets from the online shopping giant. Tune in to the discussion with eMarketer principal analysts at Insider Intelligence David Morris and Andrew Lipsman.
With a fresh approach to insurance sales and a modern tech stack, Toggle, a Farmers’ Insurance Company, is focused on simplifying the purchase journey. Watch Industry Voices: Spotlight on Financial Services with Toggle’s Josh LaRoche, research and marketing director, to hear how empowering policyholders has helped its parent company innovate.
The bank’s grace period feature helps customers avoid the charges and an upcoming checking account excludes them. But the bank must make up for the lost revenue.
Monzo’s free-shares incentive could give a much-needed financial boost: The UK-based neobank is partnering with Freetrade to offer free shares to customers in two of its paid tiers. Monzo really could use that subscription revenue.
BBVA’s hackathon is a low-cost exploration of new solutions: The hackathon in Mexico will feature teams working on challenges to win prizes—a fast, cheap way for the bank to generate innovative ideas.
Getsafe will use the fresh capital to expand across Europe but faces competition from fellow insurtechs also plotting expansion.
BofA’s VR branch staff training continues trend toward better customer service: VR customer interaction training will be available at all branches by YE 2022—another example of a major US bank enhancing in-person support for consumers who use branches for complex services.
Phone outage cuts trio of big banks’ customer service: A Verizon toll-free number outage affected Wells Fargo, Capital One, and TD Bank on Wednesday. App-based alternatives could reduce US customers’ reliance on call centers and mitigate the risk of future outages.
A child-centric PFM app could help NatWest influence a younger generation’s financial lives—and its unique value-add could reduce defection to proliferating switching incentives.