For platforms and neobanks, establishing direct deposits with end users offers an on-ramp to cross-selling opportunities and a wealth of additional revenue streams. The momentum has been underscored in recent earnings reports and announcements surrounding new products and services. The automated transfer of funds into...
Publicly traded companies are marked to market each and every day. And when quarterly results roll in, investors parse the data, the top line and the operating margins, and often measure success with each and every earnings report. For NCR Voyix, the company’s sale of...
British digital bank Monzo says it has more than 10 million personal customers. This milestone, announced Tuesday (Aug. 6), comes weeks after the company reached its first full year of profitability and amid an increasing embrace of connected banking. “What a milestone to add to...
After a three-year wait, Revolut has secured a banking license in its home country. The British FinTech announced Thursday (July 25) that it had been granted the license, with restrictions from the country’s Prudential Regulation Authority (PRA), an arm of the Bank of England that...
They say there are no guarantees in life. That sentiment applies to financial services — at least depending on where you look, or what promises are made by nonbanks. With traditional financial institutions (FIs), the banks that have been around for decades, even centuries, there...
As regulators draw a bead on neobanks, traditional financial institutions are acting more like neobanks. Open banking looks set to transform financial services in the United States, and the approach, in contrast to what has been seen in Europe, is market-driven rather than government-driven. A...
The big banks will kick off earnings season Friday (July 12), as is the case quarter after quarter. In addition to the usual metrics that will be closely watched by investors, economists and everyone else — the loan performance, the deposits, the debit and credit...
Revolut’s chair is not ready to commit to an initial public offering (IPO) in London. Speaking to the Financial Times (FT) Tuesday (July 2), Martin Gilbert praised pending changes to the rules for listing on the U.K. market. “All the moves [regulators] are making are good, they’re allowing founder-led...
Plaid has been rolling out new products and partnerships in recent months, offering additional resources to a broader range of customers, including enterprises. For example, the firm rolled out its new credit underwriting solution, Consumer Report, in early June, saying that it brings bank account-level...
