July 16, 2020
BoA Adds $4B To Reserves Even As COVID Boosts Mobile,...
Bank of America reported Thursday (July 16) that that the number of customers using the firm’s mobile and digital platforms grew during the second quarter even as the pandemic raged....
July 16, 2020
Banks Must Look Beyond Speed To Optimize Digital Account Opening
Without the local branch to visit, financial institution (FI) customers were suddenly thrust into the world of digital and online banking. PYMNTS’ most recent Digital-First Banking Tracker revealed a whopping 200 percent...
July 16, 2020
Why Large Retailers Are Mandating Masks
Sometimes a mask is more than a mask. When Best Buy, Starbucks, Kroger and Walmart mandated that all customers wear masks to mitigate the spread of COVID-19 this week, they...
July 16, 2020
How One Startup Is Reinventing Travel Insurance For The Post-Pandemic...
Admittedly, it might seem like a strange time to be launching an innovative travel insurance product given how much the tourism industry has contracted in the wake of the global...
July 15, 2020
Wells Fargo Shuts Millennial-Friendly App ‘Greenhouse’ To New Clients
Wells Fargo has quietly stopped accepting new users for its Greenhouse mobile-first banking app, which the bank unveiled less than three years ago. “The enrollment period for the Greenhouse mobile...
July 15, 2020
MoneyLion Launches RoarMoney Account With Contactless Mobile Wallet
MoneyLion, the New York-based mobile bank, announced the launch of RoarMoneySM, a demand deposit account powered by MetaBank N.A. with Mastercard as its exclusive card network. RoarMoney promises faster access...
July 15, 2020
Today In Payments: BigCommerce Eyes IPO; Biggest Banks Brace For...
In today’s top news, BigCommerce filed for an IPO, and the country’s largest banks have set aside almost $30 billion to cover COVID-19-related losses. Plus, Afterpay has partnered with Google...
July 15, 2020
Revolut Adds Crypto To US Offerings With Paxos Deal
European FinTech Revolut, which recently debuted in the U.S. with an app and debit card, is expanding its range of services into the realm of cryptocurrency trading with a big...
July 15, 2020
Goldman’s Consumer Deposits Increase By $20B In Q2
Goldman Sachs reported on Wednesday (July 15) that consumer deposits grew by a record $20 billion to $92 billion during the second quarter as the bank continued to expand its...
With nearly half of CU executives saying a lack of resources prevent them from bringing innovations to market, CUs are stuck piloting the digital innovations their members crave — and are willing to switch FIs for. The rise of strategic mergers is a way that some CUs are exploring to pool resources, innovate and drive scale. Read more in the “Credit Union Tracker®,” a collaboration with PSCU.
To drive growth and reduce churn, credit unions should invest in digital solutions that improve user experience, offer robust security features, and provide convenient self-service options tailored to the preferences of Gen Z and millennial consumers. PYMNTS Intelligence’s latest 40-page report,“How CUs Can Drive Engagement with Self-Service Banking Innovation,” a collaboration with Velera (formerly PSCU/Co-op Solutions), examines why CUs need to up their self-service banking innovation.