CB Insights

MAY 27, 2020

Some investors continued to cut checks in Q1, b ut which investors have remained active through the boom and bust over the past year? Mercury , which provides startups with FDIC-insured bank accounts. For all of the underlying data and insights, check out our State Of Fintech Q1’20 Report: Investment & Sector Trends To Watch.

FinTech 92

FinTech FDIC Credit Cards Checks 92

PYMNTS

DECEMBER 16, 2020

customers to activate their FDIC-insured BlockCard bank accounts. The BlockCard accounts are crypto-friendly and function like regular checking accounts. Our customers will be able to link their existing financial institution to their crypto-friendly BlockCard bank account to easily move U.S. dollars between all of their accounts.”.

Accounts 106

Accounts Cryptocurrency FDIC Interoperability 106

PYMNTS

JANUARY 7, 2021

In today’s top news in digital-first banking, California FinTech Green Dot is rolling out the GO2bank mobile banking to help cash-strapped individuals, while stimulus checks are reportedly posing challenges for some users of H&R Block and TurboTax. Stimulus Checks Pose Issues For H&R Block, TurboTax .

Blocks 56

Blocks Checks IRS FDIC 56

PYMNTS

OCTOBER 28, 2019

28) at the Money20/20 conference, BlueVine Business Banking connects small businesses to checking account services and a debit card: the BlueVine Business Debit Mastercard. Banking services are provided via a collaboration with The Bancorp Bank, Member FDIC. Announced on Monday (Oct.

Checks 40

Checks Accounts Debit Card Online and Mobile Banking 40

PYMNTS

DECEMBER 16, 2020

In today’s top news in digital-first banking, FIS is working with Quontic Bank on the Bitcoin Rewards Checking Account, while Aeldra has chosen i2c Inc. FIS, the bank software and payment technology firm, unveiled a collaboration with Quontic Bank on the Bitcoin Rewards Checking Account. to power its digital private banking offerings.

Online and Mobile Banking 62

Online and Mobile Banking FDIC Accounts Debit Card 62

CB Insights

MAY 7, 2019

Discussion with senior regulators including the Commissioner of the SEC and the Former Chair of the FDIC. Check out the full agenda here. The post The Future Of Fintech 2019: Check Out The Full Agenda appeared first on CB Insights Research. GET THE 81-PAGE FINTECH TRENDS REPORT. GET THE 81-PAGE FINTECH TRENDS REPORT.

Checks 36

Checks FinTech FDIC Regulations 36

Fintech Finance

SEPTEMBER 20, 2024

According to the Federal Reserve, about 19% of Americans are considered to be ‘unbanked’ or underbanked (defined as those who have a bank account but also use alternative financial services such as payday loans, money orders, or check cashing). Member FDIC. DailyPay is a financial technology company, not a bank.

Direct Deposit 98

Direct Deposit Security Federal Reserve FDIC 98

PYMNTS

NOVEMBER 9, 2020

Consumers in financial straits may find it difficult to maintain the balances necessary for them to keep their checking accounts open for one example, causing them to become unbanked. percent in 2019, its lowest rate in a decade since the FDIC first began tracking this statistic in 2009.

On-Demand 81

On-Demand FDIC Push-to-Card P2P 81

PYMNTS

AUGUST 4, 2020

In an announcement, the bank said it would work with Google to debut a co-branded, FDIC-insured, digital-only bank account next year. In this way, Google gets new users for its Pay offering , and the banks get new customers and strengthen their respective brands. “It’s ” Looking Ahead.

Checks 119

Checks Accounts Consumer FDIC 119

PYMNTS

JULY 24, 2019

High-yield checking and savings are now being offered by online wealth advisor Betterment as a way to attract new customers. . Like other FinTechs, Betterment will partner with FDIC-insured institutions since it doesn’t have a bank charter. Checking accounts will be insured up to $250,000 and savings accounts up to $1 million.

Deposit Account 64

Deposit Account Accounts FDIC RTP 64

Stax

JANUARY 1, 2024

Check for: Penalties for access: penalties or fees for accessing funds could negate the benefit of higher interest earnings. Mobile banking services: A robust mobile app with comprehensive features like mobile check deposit, real-time alerts, and transaction capabilities allow for smooth management of finances on the go.

Accounts 88

Accounts Online and Mobile Banking API ATM 88

CB Insights

JANUARY 5, 2021

This older demographic also accounted for 20% of those who deposited mobile checks for the first time. . In the US, 16% of adults are underbanked — meaning that they have bank accounts but use alternative financial services like payday loans or check-cashing services — while 6% were unbanked, per the Federal Reserve. . Source: FDIC.

Online and Mobile Banking 98

Online and Mobile Banking Financial Inclusion Checks Federal Reserve 98

PYMNTS

JANUARY 26, 2021

The company also offers an FDIC-insured checking account to help spur crypto-friendly banking, Johnson noted. Through that checking account, users can purchase crypto to be held in custody. “Or The company's crypto debit card, BlockCard , has seen 500 percent growth in usage rates, measured year over year.

Cryptocurrency 102

Cryptocurrency Bitcoin Blockchain Digital Currency 102

PYMNTS

NOVEMBER 2, 2020

To move toward retirement, and to have the money in place to get there, millennials need to make the leap from bare bones banking — checking and savings — into investing. In terms of mechanics, according to the company, Finch invests users’ checking balances into a tailored portfolio mix that matches account holders’ risk profiles.

FinTech 88

FinTech FDIC Regulatory Compliance Checks 88

PYMNTS

OCTOBER 19, 2020

and comes with other benefits like off-cycle payments, patented checks and optional prepaid debit cards, allowing workers full access to their pay through those solutions. residents in the near future, PYMNTS writes, according to a report by the Federal Deposit Insurance Corp (FDIC). In 2011, the number of unbanked Americans rose to 8.6

FDIC 56

FDIC Debit Card Payroll Payment Solutions 56

PYMNTS

FEBRUARY 7, 2020

The Robinhood cash management feature is offered in partnership with a bank, and includes debit cards, and, critically, deposits backed by the Federal Deposit Insurance Corporation (FDIC). Earlier last year, Robinhood debuted a checking and savings product that did not have a bank partnership and ultimately was not successful.

Debit Card 60

Debit Card FDIC Cash Management Cryptocurrency 60

PYMNTS

DECEMBER 16, 2020

resident and non-resident international clients of Aeldra can open an FDIC-insured U.S. The stars of financial services in 2021 will have something to do with credit,” Wain said, noting that the days of basic checking or demand draft accounts (DDA) are over. Aeldra, whose partners include Blue Ridge Bank, N.A,

FDIC 67

FDIC Non-Bank Debit Card Addressing 67

PYMNTS

MAY 23, 2019

However, it is combined with an FDIC-backed checking account called Zero Checking. The Zerocard and Zero Checking are combined together into one central app, so cardholders can see at a glance how much net funds they can access. The Zerocard, as it is called, is a World Mastercard that earns credit card cash back.

Credit Cards 54

Credit Cards FDIC Checks ATM 54

PYMNTS

DECEMBER 23, 2020

The teenager with a Fortnite habit who manages to clean out Dad’s checking account via the debit card linked to the gaming account. The company offers FDIC-insured bank accounts and a Visa -branded payment cards for teens (aged 13-18) with budgeting features and other financial education tools built in.

Financial Literacy 128

Financial Literacy FinTech Debit Card Credit Cards 128

PYMNTS

MARCH 18, 2019

The accounts come with debit cards, digital payments and free check cashing, but do not allow overdrafts.”. She added that the annual $60 cost for the new accounts compares with charges of $200 to $500 per year at check cashing and money order service providers. a month and no minimum balance,” according to Reuters. In 2017, 6.5

Consumer 70

Consumer Online and Mobile Banking FDIC Checks 70

PYMNTS

MAY 26, 2016

A new report from the Federal Deposit Insurance Corporation (FDIC) shows that mobile banking can empower underserved customers to have greater control over their finances and ultimately open up access to mainstream banking.

Underserved 41

Underserved Mobile Banking FDIC Federal Reserve 41

PYMNTS

MARCH 7, 2017

FDIC), U.S. households that have zero persons with a checking or savings account, otherwise known as the unbanked, declined to a record low of 7 percent in 2015. The FDIC also said that the percentage of U.S. don’t have a checking or savings account. The FDIC also said that the percentage of U.S.

FDIC 40

FDIC Underserved Checks FinTech 40

PYMNTS

JULY 30, 2019

Having a simple bank checking account costs an average a monthly maintenance fee of $13.58 In the sense that it is a bank, MoneyLion takes deposits and makes sure those deposits are FDIC insured through a backend partnership with a traditional bank, Choubey said. or $163 a year. ATM fees, on the other hand, average around $4.66.

Consumer 76

Consumer Financial Literacy ATM FDIC 76

PYMNTS

DECEMBER 12, 2019

This new service follows last year’s unsuccessful launch of a checking and savings account product, which was not well received. The cash management feature is offered in partnership with a bank, and has debit cards, as well as deposits backed by the Federal Deposit Insurance Corporation (FDIC).

Accounts 54

Accounts Cash Management Debit Card FDIC 54

Finovate

APRIL 24, 2025

Casca With Casca , FDIC-insured banks and non-bank lenders fund small business loans in under seven days with 90% workflow automation, reduced costs, and thousands of hours in operational efforts reclaimed. Commercial banks, community banks, credit unions, B2B fintechs, etc.

Credit Union 52

Credit Union Payment APIs and Integration Non-Bank Compliance 52

PYMNTS

JUNE 13, 2017

Which means it really doesn’t come as all that huge a surprise that as of June 6th, SoFi had applied for a new (de novo) bank charter according to the FDIC. Instead, SoFi as a bank will exist so it can “provide its customers an FDIC insured NOW account and a credit card product. SoFi has confirmed the news.

De Novo Banks 40

De Novo Banks FDIC Novo Banks Underwriting 40

PYMNTS

AUGUST 5, 2020

The Zibo tools are meant to help save time and implement new tools like Federal Deposit Insurance Corporation (FDIC)-insured business checking accounts, automated rent collection, online bill pay and expense management to help streamline tax preparation.

FDIC 56

FDIC Payments Payment Programs Origination 56

Finovate

FEBRUARY 22, 2024

that will enable businesses to send and receive FDIC-insured payments in near-real-time. “We’ve brought open banking and instant payments together in an omni-rail solution that enables companies to check off all of their payments needs from a single gateway,” said Zūm Rails Co-founder and CEO Marc Milewski. FedNow, the U.S.

Instant Payments 52

Instant Payments FedNow FDIC Gateways 52

PYMNTS

AUGUST 28, 2019

Small businesses can sign up for an FDIC-insured bank account in three minutes, and can customize the platform to add sub-accounts for payroll, large purchases and taxes. “Many of these entrepreneurs are looking for self-service options with features that help them with their finances, rather than get in the way. .”

Mobile Banking 57

Mobile Banking Small Business FDIC API 57

PYMNTS

OCTOBER 8, 2020

The bank is limiting eligibility to customers who have had a BoA checking account for a year. FDIC), National Credit Union Administration and Office of the Comptroller of the Currency — urged bankers to begin offering such small-dollar loans to help consumers deal with temporary cash flow problems.

Consumer Financial Protection Bureau (CFPB) 52

Consumer Financial Protection Bureau (CFPB) Office of the Comptroller of the Currency Consumer FDIC 52

PYMNTS

DECEMBER 10, 2019

N26 partners with Axos Bank to offer a Visa debit card and FDIC-insured checking account. Since the initial product launch in 2015, N26 has reached more than 3.5 million customers in 25 markets in Europe. N26 started rolling out in the U.S.

Debit Card 52

Debit Card FDIC Direct Deposit Mobile Banking 52

PYMNTS

JULY 25, 2019

FDIC) estimated that 6.5 percent of households remain unbanked, with no checking or savings accounts in place. In this case, prepaid cards can serve as a payments alternative to traditional banking offerings like checks, and more technology-driven ones like real-time bank deposits.”. Another 18.7

Online and Mobile Banking 75

Online and Mobile Banking Payments Cross-Border Alternative Payment Methods 75

FICO

DECEMBER 20, 2018

Emerging payment solutions — mobile wallets and P2P payment networks most notably — are slowly but steadily displacing legacy payment options like cash and checks and cementing themselves in the day-to-day lives of consumers (particularly Millennials and Gen Zers). Emerging Payment Solutions Will Grow Up. small-dollar lending market.

Consumer 73

Consumer Emerging Payments OCC FDIC 73

PYMNTS

JULY 20, 2017

The app can also be used to upload checks, like many mobile banking apps. Netspend touts the ease of signup and use: There’s no credit check requirement, no late fees and no interest payments, although cardholders will be charged an annual fee of $85, deducted after the first time they load the card.

FDIC 40

FDIC Checks Mobile Banking Accounts 40

PYMNTS

APRIL 24, 2019

Of course, those more than beat the national average on checking accounts, which is currently at a 0.08 In addition, Wealthfront works with FDIC-insured partner banks — including East West Bank , New York Community Bank and others — to hold customers’ deposits. In addition, Ally Bank and Barclays have high-yield offerings that earn 2.2

Accounts 43

Accounts FDIC Direct Deposit Debit Card 43

PYMNTS

MARCH 5, 2019

Chime noted in its press release that it began March with more than three million FDIC bank accounts. Chime launched in 2013, offering debit cards, savings accounts and checking accounts to consumers without any fees. The company also plans to double its size to more than 200 employees and expand its leadership team.

Debit Card 46

Debit Card FDIC Participant Accounts 46

FICO

MARCH 8, 2021

One particularly useful example is checking and savings account data. Studies conducted by the FDIC show that there are tens of millions of U.S. As with any data source, the use of checking and savings account data will provoke questions with respect to potential data bias. Positive Data Brings Predictive Value.

Financial Inclusion 52

Financial Inclusion Checks Credit Risk Accounts 52