Live Oak Bank has launched its first embedded banking partnership. Powered by the bank’s in-house technology and a Finxact core, this offering enables software companies to directly deliver Live Oak banking products and services to their own customers, Live Oak Bank said in a Monday...
French payments app Lydia has launched a European banking super app called Sumeria. The company will invest more than €100 million and hire 400 people in three years to become a major player in this sector in France before expanding to other parts of Europe, Lydia...
It has been a wild ride for many companies that come under the heading ‘“FinTech.” Case in point: MoneyLion. Just a year ago the company was a neobank struggling under a $9 million loss for Q1 2023. Fast forward a year and the data-driven financial...
Santander will launch its digital bank, Openbank, in the United States and Mexico in the second half of 2024. Currently, Openbank serves 2 million customers in four European countries — Spain, Portugal, Germany and the Netherlands — and has 18 billion euros (about $19.5 billion) in deposits,...
For decades, consumer expectations around the convenience and always-on capabilities of their financial services could not be met. The typical Monday-through-Friday banking hours and 4 p.m. branch closings have made it difficult for consumers to decide when and how they bank. That’s quickly changed. Consumer...
Did the mobile device kill the bank branch? Not quite, but as the world moves increasingly toward digital rather than physical banking channels, the banking sector may have already crossed a behavioral tipping point. “Ninety percent of what I want to do at a bank...
VoPay, a provider of embedded payments technology based in Canada, is expanding its operations in the United States by teaming up with Cross River Bank. This alliance will give VoPay access to major payment rails and networks as well as Cross River Bank’s financial regulatory...
As the country’s banking giants expand, some consumers are looking for smaller alternatives. It’s a trend at the center of a Tuesday (March 5) Wall Street Journal (WSJ) report, which says that these banking customers have found that switching to community lenders and credit unions offers a...
UK digital bank Monzo has been valued at $5 billion following a $430 million funding round. The round was led by Alphabet’s CapitalG group as well as Google Ventures, HongShan Capital and existing investors Passion Capital and Tencent, Monzo said in a news release provided to PYMNTS Tuesday (Mar. 5) “The new capital will be...
