Small businesses have historically felt underserved by their financial institutions, which has led to an increase in efforts to offer tools like personalized analytics and business projections. American Express just launched a new digital cashflow-management hub for its small business customers – called Business Blueprint – that builds off its 2020 acquisition of SMB lender […]
Tag: fintech
US Bank wants to make it dead-simple for new customers to deposit their paychecks into its checking accounts, as FinServs vie for loyalty and people pick up new gigs. US Bank is partnering with payroll startup Atomic to save time for new customers (or those with a fresh side hustle). Instead of manually filling […]
A swathe of startups are trying to inject artificial intelligence and privacy-preserving data sharing into outdated and shockingly ineffective know-your-customer and anti-money laundering processes. Three young startups just announced a cumulative ~$27 million in fresh funding in the past week to tackle financial fraud: Hawk AI, Sandbar, and Salv. While they all have slightly different […]
With high interest rates bolstering banks’ top-line growth at the same time as fintech valuations flounder, FinServs have a unique opportunity for M&A this year. But careful due diligence and a specialized approach to retaining talent are crucial to making a purchase successful instead of a flop, according to Bain analysts. While banking M&A activity […]
To avoid decreasing valuations, late-stage fintechs are more hesitant to go public or raise additional private capital, which creates a great environment for incumbent financial firms to partner with them. While there are certainly downsides to the current market conditions, it’s a perfect time for fintech partnerships, according to a top exec at Synchrony, the […]
Traditional banks are at risk of losing Gen Z customers to new players unless they can find ways to appeal to younger audiences. The kids are alright, but incumbent financial firms and traditional banks may not be unless they can find ways to win over Gen Z: A recent JD Power survey found that large […]
Evaluating a potential fintech partner doesn’t have to be a headache. So-called sandboxes – or self-contained test environments with synthetic data and prototyping tools – can take the pain out of proof-of-concepts for highly regulated incumbents that are eager to work with fintechs. Lloyds Banking Group has launched a new “Innovation Sandbox” in partnership with […]
Partnering with fast-moving fintechs can help incumbent banks roll out sleek digital tools to impress existing customers and win-over new ones. If you can’t beat them, join them: HSBC just made a $35 million strategic investment in UK challenger bank Monese through its corporate venture arm. HSBC’s investment is just the latest example of a […]