Today In Digital-First Banking: Firstmark Selects Lumin Digital For Banking Technology; Jamaica Prepares For CBDC Later In 2021

In today’s top news in digital-first banking, Firstmark Credit Union (Firstmark) has chosen PSCU company Lumin Digital to provide online and mobile digital banking, while Jamaica is said to be one of the countries looking into central bank digital currencies (CBDC). Plus, a longtime Google veteran is joining Robinhood as its new chief product officer.

Firstmark Credit Union Taps Lumin Digital For Banking Technology

PSCU company Lumin Digital has been selected by Firstmark Credit Union (Firstmark) to provision online and mobile digital banking to more than 60,000 users when the credit union (CU) rolls out on the platform in April. Firstmark, a long-time PSCU partner, signed a multi-year deal for Lumin Digital’s cloud-native system. The CU was established in Texas in 1932.

Jamaica Readies For CBDC Later In 2021

Jamaica is reportedly one of the countries examining CBDCs. Nigel Clarke, the country’s minister of finance, said that the CBDC will see a pilot by December prior to the official rollout in 2022. Clarke said that the CBDC is “not to be confused with cryptocurrency, which is privately issued and not backed by a regulatory authority,” according to a published report.

Google Exec Joins Robinhood As Chief Product Officer

Long-time Google veteran Aparna Chennapragada will now be serving as Robinhood’s chief product officer. Chennapragada will be responsible for supervising research, design and product in her new role. “Robinhood has built a uniquely accessible product that has opened up the financial markets to millions of people,” Chennapragada said in a post.

Boutique Marketplace Jane To Offer BNPL With Klarna

Jane, the boutique marketplace, recently revealed that it now provides Klarna’s buy now, pay later (BNPL) offerings at the point of sale. “With Klarna, we now offer our value-conscious consumers greater financial control and a budget-friendly way to enhance their shopping experience,” Jane CEO Taleeb Noormohamed said in an announcement.