Payments News

On The Web

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Providers

Simple Bank Shutdown Goes Awry Leaving Customers Without Account Access

“The online bank Simple shut down on Saturday and was supposed to seamlessly transition customers’ accounts over to its parent company, BBVA. But instead, many users found themselves unable to access their bank account at all, as BBVA’s website returned an assortment of error messages, from “system error” to warnings that their account information was […]
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Providers

Generosity Is Trending. Neobanks Are Tapping Into That.

“Banks and fintechs are encouraging acts of generosity by making it easy for customers to transfer money to various causes through keep-the-change programs, recurring payments and donor-advised funds, charitable investment accounts traditionally regarded as vehicles for the wealthy. Opening an account at Greenwood Financial, a digital bank for Black and Hispanic customers, triggers the donation […]
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Providers

Latino-focused Fortú Rolls Out With Support From SoFi and LendingClub

“Fortú emerged from a year in stealth mode on Thursday in partnership with SoFi’s Galileo unit and LendingClub. Fortú’s founders aim to address challenges that Latinos face in the US banking market. Fortú’s founders aim to address challenges that Latinos face in the US banking market, such as overreliance on nonbank financial institutions to send […]
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Deals

Goldman Sachs Invests $69 Million in Britain’s Starling Bank

“British digital bank Starling said on Monday that Goldman Sachs (GS.N) had invested 50 million pounds ($69 million) in the UK lender. The investment is an extension of Starling’s oversubscribed 272 million pound funding round, valuing the bank in excess of 1.1 billion pounds, Starling said in a statement.”

On The Wires

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Providers

Greenwood and Mastercard Partner for the Greenwood Debit Card

“Greenwood, the digital banking platform for Black and Latino individuals and business owners, today announced it has selected Mastercard as its network of choice for its first debit card. The Greenwood matte black debit Mastercard will provide cardholders a digital-centric user experience, an extensive list of security and concierge benefits, and innovative giveback programs focused […]