AmEx debuts all-digital checking account
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Launched yesterday, the checking account and its debit card offer rewards, round-the-clock support, and purchase protection. It’s the company’s first checking account for consumers.
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Fintech News Stories
Can Monzo succeed in the U.S.?
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The U.K. digital bank officially launched its full-fledged product in the U.S. on Tuesday. Users can apply online for an account within 10 minutes, the company said.
Read MoreT-Mobile offers True Name service for debit cards
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With Mastercard as a payments partner, T-Mobile now lets people use their chosen name on the company’s debit cards. The service follows a similar service to let customers have their true names displayed on caller ID.
Read MoreIs 2022 the year of the acquisition?
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This week has seen large banks and other corporate giants acquire fintechs at a zealous pace. JPMorgan, UBS, and Walmart all announced major fintech deals.
Read MoreIn new report, Fed flirts with central bank digital currencies
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Late last week, the Federal Reserve released a 40-page report on the potential creation of a digital U.S. dollar, inviting explicit policy guidance from the White House and Congress.
Read More300 community banks to offer bitcoin trading
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Through a partnership with crypto custody firm NYDIG, a group of 300 community banks will let customers trade bitcoin on their mobile banking apps.
Read MoreWhat’s behind JPMorgan’s fintech fight?
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In its earnings call on Friday, JPMorgan announced that it will spend $1B per month in 2022 to move its operations to the cloud.
Read MoreAre delivery apps becoming banks?
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German food-delivery platform Delivery Hero announced plans to offer buy-now-pay-later services to its customers. The company also said that it may provide financing to vendors through partnerships with banks.
Read MoreWhat’s next for Brex?
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Fintech behemoth Brex raised $300M in a Series D-2 round, earning a valuation of $12.3B. The company also named Karandeep Anand as its CPO.
Read MoreIs Anchorage Digital the gateway for a Web3 boom
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Crypto bank Anchorage secured $350M in Series D funding at a $3B valuation. Led by KKR, the latest round brings large institutions like Goldman Sachs and BlackRock on board for strategic growth.
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Gen Z-focused financial services capture imagination of incumbents and startups
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Gen Z consumers have garnered considerable recent attention as incumbents and newer platforms launch offerings to cater to this market
Read MoreCapital One kills overdraft fees, citing need for consumer ‘safety net’
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Capital One announced that it’s removing overdraft fees, and the $150M in annual revenue that goes along with it. The bank is also getting rid of non-sufficient fund (NSF) fees.
Read MoreNubank, the world’s biggest standalone digital bank, cuts IPO valuation
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Nubank, the Berkshire Hathaway-backed digital banking behemoth based in Brazil, cut the targeted price range for its planned IPO by about 18% this week.
Read MoreN26 to wind down US operations, closing 500,000 accounts
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N26, a Berlin-based neobank which operates in 25 countries and boasts more than 7 million customers (including 500,000 U.S. customers), is considering a slowdown of its U.S. market outreach.
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