Consumers want omnichannel banking access so they can easily switch between in-person branch visits, call center services and mobile apps as needed. They might pop into bank branches near their offices to grab cash, for example, then use mobile apps during their subway rides home to check their account activity....
SMBs Explore Financing Options For Their Digital Transformations
Access to capital for small- to medium-sized businesses (SMBs) has always been vital, as well as a challenge. Borrowers don’t always have a consistent experience in their hunt for financing, either. In some cases, when a traditional bank shuts the door on an SMB applicant, a business owner may not...
B2B Payments, Financing Lead Week’s FinTech Funding
The B2B FinTech startup community continues to wade through market disruption with a relatively strong show of support from venture capitalists, despite an overall decline in VC funding across verticals. More is likely on the way, too. As reported by Fortune this week, UBS Group is planning to establish a...
How APIs Help Banks Provide Digital Services During The Pandemic
APIs’ adoption has been an important catalyst in digital-first banking, allowing FIs, FinTechs and other players to collaborate on new tools while also enabling compatibility between third-party apps and bank financial data. They are especially prevalent in Europe, where the EU’s PSD2 legislation requires their use to ensure the continent’s...
Deep Dive: Offering An End-To-End Experience Through ATMs
The COVID-19 crisis has triggered a quantum leap among credit unions (CUs) toward offering innovative products and services. Safety measures implemented to slow the virus’s spread have forced CUs across the United States to shutter their physical branches as states lock down and residents are confined to their homes. This...
Uber Says AB5 Could Cost 158,000 Drivers Their Jobs
If Uber is forced to classify its drivers in California as employees, 158,000 will be out of work, the company said. C/NET reported the San Francisco-based ride sharing firm’s internal analysis revealed in addition to massive job losses, passengers could see prices rise by as much as 120 percent while...
Starling Scores $49 million From Its Investors
Starling, a United Kingdom-based digital bank, has raised $49 million in a funding round led by its investors Merian Chrysalis Investment Co. and Harald McPike, founder of QuantRes, Yahoo! Finance reported. The latest infusion comes just months after the digital bank raised $74 million from investors. Since its founding in...
Mastercard Debuts COVID-Recovery Data Tools For Business, Gov’t
Mastercard‘s new Recovery Insights tool will attempt to help businesses and governments assess data during the pandemic in order to make smarter decisions, according to a press release. The tool will attempt to help an array of businesses, including airlines, restaurants, banks, governments and other types of money-making and governing...
Unemployment Fraud In Michigan Could Bump Legit Jobless Claims
Unemployed Michigan residents ought to be wary of a scam in which fraudsters are using stolen personal information to apply for unemployment benefits, according to Michigan-based news site MLive.com. The Michigan Unemployment Insurance Agency (UIA) has since instituted more steps to verify peoples’ identities and make sure an application was...
What Legacy FIs Miss About The Need For Cloud-Based Infrastructure
Financial institutions (FIs) have been adapting their platforms and technologies to better suit the needs of more digital consumers for decades, but the coronavirus has placed new importance and pressure on accelerating these efforts. Allowing customers uninterrupted access to their online financial accounts and processing digital payments quickly is critical...