Banks are beginning to see that marketing Zelle within their own apps can be a challenge; “It’s not a simple feature you can roll out and say ‘try it.’ Explaining all these things means you have to prioritize because there just isn’t enough time so you have to be very selective,” says Mark Schwanhausser, director of the digital banking practice at Javelin and author of a new report looking at this issue, to TearSheet; banks have tried a number of ways to highlight Zelle as part of their banking experience, though the task has not been easy; as the brand grows and customers get accustomed to the difference the job will become easier. Source.
The financial wellbeing app’s series C fundraise will be used to expand services for underserved, financially stressed workers.
A recent article in Forbes shared a survey of US consumers that shed light on the traction of digital banks...
The agreement for the acquisition of NetPay had been announced in November 2022. FEMSA had owned minority shares in the fintech since 2019.
While Starling Bank has been under fire from Lord Agnew for its BBLS performance, new figures put it in the middle of the pack.
The Open Banking Implementation Entity or OBIE chose regtech firm Contego to support OBIE’s identity proofing and verification processes; Nigel Spencer, head of support services at OBIE, tells Banking Technology that Contego delivered a “bespoke solution that combines automated identity checks with the added security of face-to-face verification” and this made the firm “the obvious choice”.; the company can customize their solution and deliver in real time via API. Source.
JPMorgan Chase co-COO Gordon Smith spoke at a conference hosted by Bernstein Strategic Decisions Conference where he discussed the bank’s...
A coalition of advocacy groups wants U.S. regulators, including the FDIC, to look into banks partnering with FinTechs to charge predatory interest rates.
The WSJ reports that the hack actually occurred in March instead of May; the breach wasn’t discovered until July 29th and it was announced to the public on September 7th. Source
With the proliferation of immediate payments, one area resistant to change has been bill pay. But U.S. Bank is leading the industry, bringing the power of Real-Time Payments to the U.S. Bank consumer bill pay experience for the first time.