Payments News

On The Web

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Tech

JPMorgan Scraps a New App Service for Young People

“JPMorgan JPM -0.55% Chase & Co. is killing an experiment to attract younger customers to a new digital-banking app a year after making it available nationwide. The nation’s largest bank began informing clients Thursday that it is shutting down Finn, the no-fee banking brand designed to meet the financial needs of younger consumers, and transferring their […]
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Tech

Survey Finds Mobile, Online Now Most Popular Methods of Account Access

“Mobile and online platforms are now the most common way Americans access their bank accounts, but some still prefer the branch, according to new research from the American Bankers Association. The survey of 2,201 adults found that 72% most often access their bank accounts online or via mobile platforms, compared to 18% who said they do most […]
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Tech

Starling to power RBS and Natwest digital payments

“Starling Bank has signed a contract to provide payment services to support the digital bank ambitions of RBS and NatWest.  As we reported in April, this is for RBS’s new digital platform, which is under development. It is not known how much RBS will pay Starling for the use of its infrastructure, but Starling will also benefit from efficiencies […]
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Tech

Consumers Have High Expectations of Their Digital Banking Apps

“Consumers want banks to do more than just hold their money. They want their banks to help them meet their financial goals. In fact, a new consumer report by CSI shows that 83% of American consumers agree with that statement. That number jumped to 87% for consumers with an annual household income of $100,000 or more, […]

On The Wires

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Tech

BankMobile Technologies, a Subsidiary of Customers Bank, and Megalith Financial Acquisition Corp. Agree to Combine to Bring a Digital Banking Platform to the Public Market Under the New Name BM Technologies

“BankMobile Technologies, a subsidiary of Customers Bank, and one of America’s largest digital banking platforms, and Megalith Financial Acquisition Corp (“MFAC”), a special purpose acquisition company, announced today that they have entered into a definitive merger agreement.  Upon closing of the transaction, the combined company (the “Company”) will operate as BM Technologies Inc. and expects […]
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Deals

Neat, a FinTech Alternative to Banks, Raises USD11M to Fuel International Expansion

“Neat, a Hong Kong-based FinTech company offering modern financial solutions to SMEs and startups, today announced raising a USD11 million Series A funding round. Pacific Century Group (PCG) led the round with participation from Visa, and MassMutual Ventures Southeast Asia, among others.  With the investment, Neat plans to continue its international expansion to support businesses that trade across borders.  Neat’s vision […]
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Tech

OneWest Bank Launches Debit Card Controls

“Card Controls allows consumers to set spending limits, create transaction alerts, specify merchant categories such as food, gas or entertainment, and define regions where the card can be used. Consumers can also disable certain locations or merchant categories from spending. Additionally, the on-and-off switch provides a fast method to secure an account if the associated […]