Spanish bank BBVA is reportedly considering opening a digital consumer bank in Germany. In this effort, the bank will use existing technology to lower the cost of expansion, Bloomberg reported Monday (June 17), citing unnamed sources. BBVA did not immediately reply to PYMNTS’ request for...
Financial institutions (FIs) can’t meet the evolving needs of digital-first customers with traditional solutions and infrastructure. That’s why the finance industry must continually modernize the banking experience — and its relatively monolithic core architecture — to adapt to technological, behavioral and market disruptions. With the...
It’s been quite a year so far for FinTechs in general and neobanks in particular. However, Jason Wilk, CEO of digital banking app Dave, doesn’t view the volatility rocking the FinTech sector in the wake of the Synapse bankruptcy as a long-lived seismic shift. “I...
Live Oak Bank has launched its first embedded banking partnership. Powered by the bank’s in-house technology and a Finxact core, this offering enables software companies to directly deliver Live Oak banking products and services to their own customers, Live Oak Bank said in a Monday...
French payments app Lydia has launched a European banking super app called Sumeria. The company will invest more than €100 million and hire 400 people in three years to become a major player in this sector in France before expanding to other parts of Europe, Lydia...
It has been a wild ride for many companies that come under the heading ‘“FinTech.” Case in point: MoneyLion. Just a year ago the company was a neobank struggling under a $9 million loss for Q1 2023. Fast forward a year and the data-driven financial...
Santander will launch its digital bank, Openbank, in the United States and Mexico in the second half of 2024. Currently, Openbank serves 2 million customers in four European countries — Spain, Portugal, Germany and the Netherlands — and has 18 billion euros (about $19.5 billion) in deposits,...
For decades, consumer expectations around the convenience and always-on capabilities of their financial services could not be met. The typical Monday-through-Friday banking hours and 4 p.m. branch closings have made it difficult for consumers to decide when and how they bank. That’s quickly changed. Consumer...
Did the mobile device kill the bank branch? Not quite, but as the world moves increasingly toward digital rather than physical banking channels, the banking sector may have already crossed a behavioral tipping point. “Ninety percent of what I want to do at a bank...
