PYMNTS

JUNE 29, 2020

In today’s top news, Germany’s deputy finance minister wants to restructure accounting firm regulations, and consumers are turning away from travel rewards cards. FDIC) is looking to modernize bank reporting. Consumers Sour On Travel Rewards Cards. FDIC Looks To Modernize Bank Reporting.

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PYMNTS

JUNE 10, 2020

It’s free and makes managing small business finances easy, even for those with little finance and accounting knowledge.”. The company said that Wave Money will include a debit card, business bank account and mobile app. The company also noted that deposits are FDIC insured for a maximum of $250,000.

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Management FDIC Software Taxes 141

PYMNTS

MAY 23, 2019

Zero, a company that aims to modernize credit cards for the millennial generation, has raised $20 million in a Series A funding round, according to a report. The company plans to market its card to credit-wary millennials who want to avoid getting into a deep debt cycle, but who also want the incentives of owning a credit card.

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PYMNTS

JUNE 10, 2019

The company has reportedly been hiring numerous product managers and engineers. Uber has about 93 million active users around the world, and the majority use Uber Cash or a credit card to pay for rides or food. This would line up with Uber’s existing products like Uber Cash, Uber Rewards or its credit card.

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PYMNTS

DECEMBER 16, 2020

Plus, Barclaycard is launching a Barclaycard Precisionpay Go system to let companies issue virtual cards for the online business expenses for employees. . The rollout makes Quontic “the first FDIC insured financial institution in the U.S. to go live with a Bitcoin Rewards debit card,” according to an announcement. Aeldra’s U.S.

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PYMNTS

DECEMBER 2, 2020

The funding round was led by new investor Coatue Management, a slew of celebrity backers and Big Tech executives. Step customers get a bank account that is insured by the FDIC, as well as a secured spending card backed by Visa and the P2P payments platform. Users can transfer funds in real time without any fees.

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Fintech FDIC Management Resources 217

PYMNTS

JULY 15, 2020

with an app and debit card, is expanding its range of services into the realm of cryptocurrency trading with a big assist from Paxos. while enabling Revolut to control “the user experience” and manage its “customer relationships.” European FinTech Revolut, which recently debuted in the U.S. Revolut made its U.S.

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PYMNTS

JANUARY 21, 2020

Payments processing and digital banking tech firm i2c has partnered with business payment services provider CashFlows to benefit payment card issuers across Europe, i2c announced on Tuesday (Jan. Using i2c’s integrated platform, CashFlows can offer potential clients a more extensive range of pioneering solutions. “We

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PYMNTS

JANUARY 22, 2020

Payments processing and digital banking tech firm i2c has partnered with business payment services provider CashFlows to benefit payment card issuers across Europe, i2c announced on Wednesday (Jan. Using i2c’s integrated platform, CashFlows can offer potential clients a more extensive range of pioneering solutions. “We

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Cards Payments Digital Banking FDIC 130

PYMNTS

MARCH 26, 2020

million recipients faster through Direct Express, where Comerica Bank acts as the Treasury Department’s financial agent for prepaid debit cards. Visa’s own push payments offerings come through Visa Direct , which “reverses” payment flows across the Visa network, enabling real-time payouts to debit and re-loadable prepaid cards.

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Cards Course FDIC Payments 252

PYMNTS

NOVEMBER 9, 2020

percent in 2019, its lowest rate in a decade since the FDIC first began tracking this statistic in 2009. Another FDIC report found that 31 percent of American consumers are now using peer-to-peer (P2P) mobile wallet apps, for example. This represents a noted reversal from trends of the past decade.

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PYMNTS

FEBRUARY 7, 2020

Late last year , Robinhood began offering a cash management service. We’ll still have existing revenue streams, and, in addition, we’ll add revenue from interchange on debit card transactions. Robinhood declined to comment about the imminent UK expansion.

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PYMNTS

OCTOBER 19, 2020

The Society for Human Resource Management (SHRM) has announced its new SHRM Payment Solution, a press release says, which will focus on faster delivery of payment to employees via electronic means. The release says the mobile app will also come with a prepaid debit card that can be used anywhere. percent in 2011, from 7.6 percent.

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FDIC Resources Cards Payments 140

American Banker

FEBRUARY 19, 2021

Brex currently relies on bank partners to offer credit cards and cash management accounts to small and midsize businesses. It is looking to charter its own FDIC-insured institution to be a direct provider.

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PYMNTS

DECEMBER 12, 2019

Online brokerage startup Robinhood has introduced a cash management service that will give customers 1.8 Silicon Valley’s Robinhood is known for making free stock trading accessible, and has spent the last year figuring out the best way to offer cash management services. No FinTech startup has been successful at getting a bank charter.

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PYMNTS

JANUARY 29, 2020

Neobank startup Joust is rolling out a new banking app to help freelancers and self-employed people manage their businesses, the company announced on Wednesday (Jan. The app was designed using input from customers and features an analytical dashboard, Joust Visa debit card management, invoice creation, payments and more.

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PYMNTS

AUGUST 28, 2019

The banking platform is designed for mobile devices and API connectivity, with NorthOne noting that development partner Treasury Prime designed that API technology to streamline account opening and management.

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PYMNTS

SEPTEMBER 21, 2020

The greenfield opportunity is there, as detailed in an interview between Karen Webster and Amyn Dhala, vice president of global product management and AI Express for Mastercard. It's the combination of these technologies that becomes powerful.". Joint PYMNTS/Brighterion research found that 63.6

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CFPB Monitor

OCTOBER 20, 2016

On October 17, the FDIC released revised interagency Military Lending Act (MLA) examination procedures for use in connection with consumer credit transactions occurring on or after October 3, 2016. The FDIC also provided guidance on its initial supervisory expectations for examinations relating to MLA compliance.

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Payments Source

FEBRUARY 19, 2021

Brex currently relies on bank partners to offer credit cards and cash management accounts to small and midsize businesses. It is looking to charter its own FDIC-insured institution to be a direct provider.

Resources 87

Resources FDIC Fintech Cards 87

PYMNTS

OCTOBER 8, 2019

Stock trading app Robinhood , which offers no-fee trading, is re-launching a checking feature called Cash Management after it was previously shelved due to regulatory issues. percent APY on any money in the account – and they will be able to spend it with a distinctive Mastercard debit card. As reported on Tuesday (Oct.

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PYMNTS

NOVEMBER 2, 2020

The model, he told PYMNTS, is one based on “autonomous finance,” which sidesteps the oftentimes tedious process of managing separate accounts spanning checking, savings and investments. Ganu offered up a use case as illustration: The user who deposits a hypothetical $1,000 into their Finch account receives a Finch debit card.

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PYMNTS

JULY 30, 2019

In the sense that it is a bank, MoneyLion takes deposits and makes sure those deposits are FDIC insured through a backend partnership with a traditional bank, Choubey said. The platform also allows users to connect all their bank accounts and credit cards and receive personalized advice on how to better spend their money.

Digital Banking 190

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PYMNTS

MAY 4, 2020

1 on PYMNTS’s personal finance rankings , with its commission-free trading being popular and new money management features also giving it a boost. Around the same time, Robinhood introduced a cash management service in the form of an investment upgrade that let users earn 1.8 In February, Robinhood was ranked No.

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PYMNTS

JANUARY 26, 2021

And as Keith Johnson , general manager of Ternio , said in an interview with PYMNTS, bitcoin has yet to live up to its hype as a game-changer in commerce — but there’s great promise for other cryptos to do so. The company's crypto debit card, BlockCard , has seen 500 percent growth in usage rates, measured year over year.

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PYMNTS

JULY 25, 2019

In an interview with PYMNTS, Deirdre Ives, CEO and managing director at Wirecard North America, noted that when it comes to innovation, issuers face challenges in meeting the needs and expectations of a diverse populace of users spanning borders and cultures. FDIC) estimated that 6.5 Take utility companies, for example,” she said. “In

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PYMNTS

NOVEMBER 30, 2018

According to The Next Web , Jared Rice defrauded investors out of $4 million after he claimed the company would become the “first decentralized banking platform” — offering FDIC -insured accounts and banking services, as well as Visa -branded credit cards and other cryptocurrency services.

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blockchain Bitcoin cryptocurrency FDIC 136

PopularBank

FEBRUARY 24, 2025

You may be wondering how this type of account fits into your money management plans. Depending on the financial institution, there may be a minimum balance requirement you must uphold to avoid an account management fee. Many banks offer money market accounts (MMAs). What is a money market account?

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PYMNTS

JUNE 13, 2017

Which means it really doesn’t come as all that huge a surprise that as of June 6th, SoFi had applied for a new (de novo) bank charter according to the FDIC. Instead, SoFi as a bank will exist so it can “provide its customers an FDIC insured NOW account and a credit card product. SoFi has confirmed the news.

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FDIC Utah Millennials ATM 100

South State Correspondent

APRIL 16, 2024

FDIC insurance doesn’t matter until it matters, and the funds in many digital wallets are not insured. Many of these account holders would be open to hearing about what banks can do for them regarding treasury management and payments. to move the money via a real-time payment or debit card, taking 30 minutes.

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PYMNTS

JULY 14, 2020

“Given how much the demand for installments is increasing, we are also using the already existing parts of the credit system today to scale installment payments with every [Visa] card across the board,” Cetin Duransoy , Visa ’s global head of installment solutions, told PYMNTS. Fast and Furious BNPL Action. The account comes with 1.30

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South State Correspondent

AUGUST 14, 2024

If managing loan pricing is a college-level course, deposit pricing is a master’s. Given the complexity, managing analyzed checking, however, is a PhD. We covered the basics of account analysis in Part 1 ( HERE ), and in this article, we highlight best practices for managing an analyzed transaction account. level effort.

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Independent Banker

DECEMBER 31, 2022

The FDIC approved a final rule to increase initial base deposit insurance assessment rates by 2 basis points until the Deposit Insurance Fund (DIF) achieves the FDIC’s long-term goal of a reserve ratio of 2% of insured deposits. The FDIC’s long-term goal for the reserve ratio of insured deposits. Source: FDIC.

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CFPB Monitor

JULY 6, 2015

In its new report containing its findings from a survey of prepaid card users, The Pew Charitable Trusts urges the CFPB’s “speedy adoption” of its proposed prepaid card rule. Most prepaid card users do not want the option to overdraw their accounts.

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Cards FDIC Survey National 60

Abrigo

NOVEMBER 29, 2021

Finally, banking alternatives such as Chime-Spot Me, an app offering to cover debit card purchases and cash advances that overdraw the account from $20 to $200 without an overdraft fee, have become more competitive. Drive growth with integrated risk management. 4 Steps for Integrating CECL and Other Risk Management Models.

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PYMNTS

APRIL 24, 2019

In addition, Wealthfront works with FDIC-insured partner banks — including East West Bank , New York Community Bank and others — to hold customers’ deposits. Wealthfront launched as a company that offered financial planning, investment management and lending through its portfolio line of credit. It now manages $13.5

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PYMNTS

AUGUST 14, 2019

But these gripes still exist: Many banks often rely on a business owner’s credit score to underwrite a business loan, for instance, while business owners themselves will often use personal credit cards to make company purchases. But that mix is not a smart tactic for managing company spend and finances.

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