Fresh off a new funding round that put Upgrade in unicorn status, CEO and Co-founder, Renaud Laplanche talked with Crowdfund...
UK-based digital bank Revolut has rolled out its new “financial super app” that it says will “reimagine and redefine” its...
Citi recently announced an upgrade to their mobile app to help add features and streamline the app offering; the new app features more financial management tools, you can open an account on your device and pay bills; they also added a 360 Financial View tool to give the customer a full understanding and view into all their accounts, Citi and non Citi accounts; the app is part of a broader digital strategy the bank has been pushing in recent weeks. Source.
Banks are seeing a surge in customers enrolling in digital banking initiatives, often from baby boomers who have been historically...
Big banks like J.P. Morgan Chase and Wells Fargo have developed new mobile only banking apps in an effort to attract younger customers; “It’s about helping people start in banking and doing it in the way that fits their lifestyle,” said Steve Ellis, executive vice president and head of the Wells Fargo Innovation Group, to Business Insider; the banks are looking to get users at a younger age then keep them over the lifetime with additional product offerings; focusing on the consumer experience and new technology will help the banks to claw back some of the market that fintech companies have taken. Source.
JPMorgan Chase and Wells Fargo announced their earnings late last week and digital channels continue to be a growing force at the banks; JPMorgan Chase saw a 13 percent jump in active mobile customers to over 30 million; Wells Fargo’s growth was not as pronounced at 3 percent to over 21 million active mobile customers; this points to a broader industry trend where according to Business Insider’s Mobile Banking Competitive Edge study 83 percent of respondents use mobile banking; some recent trends the study has also seen include more attention to security, mobile transfers and users asking for more advanced features. Source.
[Editor’s Note: This is a guest post from Christina Luttrell, the senior vice president of operations at IDology. IDology is...
There are more offerings today for kids and teens to get started managing their finances.
As the financial world has moved to digital it is has created challenges for those institutions that relied on physical...
Fintech startup Dave began rolling out their new bank account in May to a waiting list of two million people;...