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Uninsured depositors, those with balances over the $250,000 FDIC threshold limit, are more likely to utilize instant payments and more likely to drain balances. Reducing payment costs and delays to allow for better financial control is proving to drive adoption and capture engagement.
What I expect is that Fiserv has developed a way for banks to be part of the social funding market segment (like Prosper). This sounds like the best of both worlds – social funding for SMB’s with the backing of their FDIC-insurance bank. Now showing mobile app version which almost looks like iMessage for the iPhone; nice UI.
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