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Talk Android posts a letter from the company in which it says there will be "no immediate impact" to accounts and that users don't need to do anything right now, with their funds housed in FDIC insured accounts with BBVA. And, the company says it wants to make the transition "as smooth as possible" for customers.
To that end, BBVA was one of six banks that said on Monday (Aug. 3) that it would work with Google to deliver “smart” digitalbank accounts, using Google Pay as an app-driven way to broaden its digital reach and improve users’ experiences with their financial institutions (FIs).
LendingClub, on the other hand, started life as a FinTech, but will become a bank after buying one earlier this year. Square also made the jump into officially becoming a bank this week, with the award of an ILC banking license by the FDIC. What we learned was interesting. “I
CEO Nicolas Kopp said in the announcement, “We’re very excited to bring our experience to U,S. In Europe, we’re loved for our effortless and sleek userexperience, with no hidden fees. And, according to the announcement, N26 partners with Axos Bank to offer a Visa debit card and FDIC-insured checking account.
BankMobile, BBVA USA, BMO Harris, The Coastal Community Bank, First Independence Bank (a federally designated minority depository institution) and SEFCU will join Citi and Stanford Federal Credit Union in the offering beginning next year. “We 3) in announcing the bank’s agreement with Google. .
Controversy around the wisdom (or not) of investing in the branch channel amidst rapidly growing digitalbanking adoption is showing no signs of letting up. Consider three articles published in the past week: Bank Innovation covering Associated Bank branch closures to fund digital channel initiatives.
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