In today’s challenging macroclimate, embedded finance solutions are critical to meeting evolving customer preferences. And in today’s macro environment, where maintaining and expanding every customer relationship is increasingly important, meeting customer preferences is critical to business growth and survival. That’s according to Meghan Ryan, CFO at API...
Five years after open banking became a regulatory requirement, the U.K. now claims 7 million active users. That figure, representing less than 20% of the total number of bank account holders in the U.K., poses the question: What can be done to reach critical mass...
For Goldman Sachs, the journey down Main Street now seems like an ill-advised detour. As reported here, the white-shoe investment bank is mulling what’s next for its consumer business — and the words “strategic alternatives” have popped up. In Wall Street speak, that verbiage typically signals there...
More than a million British customers used open banking for the first time in January. The addition of 1.2 million first-time users during the month raised the number of consumers and small and medium-sized businesses (SMBs) using open banking in the United Kingdom above the...
Banking faces a critical juncture. Against a rising tide of inflation and record debt levels, 59% of retail bank customers say they expect help from their financial institutions (FIs) in understanding and managing their financial health. All too often, however, consumers are finding that help lacking. United States retail bank...
Goldman Sachs has reportedly stopped plans to launch a branded credit card for retail customers. Reached for comment Wednesday (Feb. 15) by PYMNTS, a spokesperson for the bank downplayed the decision, saying the consumer card was something that was discussed but never a “meaningful” part...
Nearly three quarters of consumers say they’d like their bank’s help to better manage their monthly budgets – an opportunity that Truist’s Sherry Graziano and Ken Meyer say paves the way for banks to become their digital-first personal financial advisers.
More consumers are struggling with their finances and budgeting. A recent survey found that 55% of Americans are in a difficult financial position, up 37% year over year. Digital banking tools can help, according to 47% of consumers, and while they have grown more reliant...
With more and more consumers embracing digital-first banks, the under-18 crowd presents the next generation of customers. But digital banking products for minors have not all been successful. In January, Ruuky, a Hamburg-based neobank aimed at teenagers, filed for insolvency, blaming difficult market dynamics and the...
