Subscribe
Logo
Logo
  • Topics Icon Topics
    • AI Icon AI
    • Banking Icon Banking
    • Blockchain/DeFi Icon Blockchain/DeFi
    • Embedded Finance Icon Embedded Finance
    • Fraud/Identity Icon Fraud/Identity
    • Investing Icon Investing
    • Lending Icon Lending
    • Payments Icon Payments
    • Regulation Icon Regulation
    • Startups Icon Startups
  • Podcasts Icon Podcasts
  • Products Icon Products
    • Webinars Icon Webinars
    • White Papers Icon White Papers
  • TechWire Icon TechWire
  • Search
  • Subscribe
Reading
Fintechs Slash Rates and Lose Potential Selling Point
ShareTweet
Home
Fintech
Fintechs Slash Rates and Lose Potential Selling Point

Fintechs Slash Rates and Lose Potential Selling Point

Emily Donato·
FintechNews RoundupUSA
·Mar. 19, 2020·1 min read

Fintechs have started to follow the Fed and slash rates on savings accounts by an average of 1 percent; the move could remove a big selling point for fintech challengers who used big rates as a customer acquisition strategy; Robinhood dropped rates from 1.3 percent to 0.3 percent, SoFi dropped from 1.10 percent to 0.1 percent and Betterment sent a not to clients signaling a coming change; some fintechs are seeing an influx of customers due to the crisis but with rates dropping that might start to slow down; Adam Grealish, Director of Investing at Betterment, talks to Forbes about rates, “From time to time, the Federal Reserve makes cuts to help bolster the financial markets. While this isn’t ideal for high-yield accounts, it’s an important part of supporting the economy when business activity is expected to be slow,” said Grealish. “Of course when rates begin to increase again, we will follow along quickly.” Forbes

  • Emily Donato
    Emily Donato

    With efforts in many different areas of the team, she helps manage, organize and execute digital and event content. She works with webinars, podcasts, social media along with managing the hundreds of speakers that attend our conferences. Emily was a part of the Zimmerman Advertising Program at the University of South Florida. She graduated in 2019 receiving a Bachelor of Science in Business Advertising.

    View all posts
Tags
Bettermentdigital bankinginterest ratesRobinhoodsavings accountsSoFi
Related

Funded: Bretton AI lands a $75M Series B on the bet that compliance agents, not dashboards, will unblock financial product growth

Betterment’s Mike Reust on GenAI and WealthTech

BREAKING: Money20/20: The Download

Rory O’Reilly, Co-Founder and CEO of Knot, on connecting cardholders to merchants

Popular Posts

Today:

  • FNThe Bank Charter Gold Rush: What’s Really Happening and What it Means for Banking Feb. 12, 2026
  • FNFrom Inspiration to Action: Stefan Weitz and the Rise of HumanX Nov. 12, 2025
  • 2026 Investor Predictions for AI and Data10 Investor Predictions for AI and Data in 2026 Dec. 17, 2025
  • Gazing Into the IPO Crystal BallKlarna Now, A Deluge Later? Mar. 20, 2025
  • The Cost of Severe WeatherDOGE Insurance Redux: Risk-pricing like it’s 1780? Apr. 3, 2025
  • Vesey Ventures – Julia HuangWhy agentic AI will spark commerce’s next PayPal moment Apr. 10, 2025
  • ai-work-nexusWalkMe Vets Declare War on SaaS Bloat with $10M Seed for Autonomous Agents Jun. 10, 2025
  • Fintech NexusInside the Open Banking Legal War Jul. 10, 2025
  • Chris Taylor Fractional AIFractional AI’s CEO Chris Taylor on Scaling the Unscalable Jul. 23, 2025
  • Are We About to Make a Quantum Leap in Small Business Lending(1)Are We About to Make a Quantum Leap in Small Business Lending? Sep. 30, 2025

This month:

  • Santiago SuarezInside Addi’s mission to build a fairer financial system in Colombia Feb. 19, 2026
  • Jennifer Lassiter, Standard CharteredScribe CEO Jennifer Smith on what happens when AI joins your team Feb. 26, 2026
  • FNThe Bank Charter Gold Rush: What’s Really Happening and What it Means for Banking Feb. 12, 2026
  • FNOura’s CEO Tom Hale on Democratizing Health with AI and Data Mar. 12, 2026
  • imageAbacum’s CEO: The Future of Finance Looks Like Product Mar. 5, 2026
  • Copy of Fintech Nexus – Newsletter Creative (1)Unpacking PayPal’s Missed Moment: 7 Takeaways Feb. 5, 2026
  • Basis CofoundersFUNDED: Basis Lands $100M as AI Agents Move From Copilots to Full Workflows in Accounting  Feb. 27, 2026
  • Sphinx CEOFUNDED: Sphinx Raises $7.1M to Automate Compliance  Feb. 20, 2026
  • Copy of Fintech Nexus – Newsletter CreativeWhy PDF Table Extraction Fails in Production—and What Banks Need to Do About It Feb. 5, 2026
  • 2026 FintechWhat does 2026 hold for Fintech?  Jan. 29, 2026

More News
  • About
  • Contact
  • Disclaimer
  • Privacy Policy
  • Terms
Subscribe
Copyright © 2026 Fintech Nexus
  • Topics
    • AI
    • Banking
    • Blockchain/DeFi
    • Embedded Finance
    • Fraud/Identity
    • Investing
    • Lending
    • Payments
    • Regulation
    • Startups
  • Podcasts
  • Products
    • Webinars
    • White Papers
  • TechWire
  • Contact Us
Start typing to see results or hit ESC to close
lis digital banking USA Lending Club UK
See all results