Wednesday, July 28

Insider Intelligence – Finance

BI Intelligence, BI Intelligence Content Marketing, Finance, Fintech News, Insider Intelligence, Insider Intelligence - Finance

US institutional investors want crypto exposure

One-third of US institutional investors held some form of digital assets as of April 2021, according to a Fidelity Digital Assets survey. This tracks with Insider Intelligence's predictions that four in 10 US institutional investors will have some portfolio exposure to digital assets by the end of the year. Insider Intelligence publishes hundreds of insights, charts, and forecasts on the Fintech industry. Learn more about becoming a client. Thirty-three percent of US institutional investors held digital assets as of April, up from 27% in March 2020, per a Fidelity Digital Assets survey of 408 US respondents. ...
Banking News, BI Intelligence, BI Intelligence Content Marketing, Finance, Insider Intelligence, Insider Intelligence - Finance

Revolut takes a junket into travel booking with a 10% cashback product

UK neobank Revolut will is launching a cashback product for travel booking called Stays. Stays gives the neobank an opportunity to market its existing products to a travel-hungry audience. Insider Intelligence publishes hundreds of research reports, charts, and forecasts on the Banking industry. Learn more about becoming a client. The news: UK neobank Revolut will take up travel booking with a product called Stays. The company anticipates that users will save an average of £69 ($88.48) per year if they book through Stays, which offers 10% cashback. ...
Banking News, BI Intelligence, BI Intelligence Content Marketing, Finance, Insider Intelligence, Insider Intelligence - Finance

Truist begins rolling out its new unified digital platform

Summary List PlacementThe news: Truist is bringing its digital platform out into the wild through its first phased deployment to customers, the bank disclosed in its Q2 2021 earnings call. The phased roll out will occur throughout the second half of this year and will include up to 500,000 customers in July alone, William H. Rogers Jr, Truist's COO and president, said on the call. Truist already did a pilot rollout to its employees in March 2021. Insider IntelligenceMore on this: Truist shared a glimpse of its unified platform, detailing how small and medium-sized business (SMB) customers can use its new mobile app. Features include: One set of log-in credentials for SMB users for both their business and personal accounts Fraud mitigation, which will let customers det...
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Key credit card recovery tactics

In "Credit Cards' Recovery Tactics," a selected chapter from our full "Credit Cards in the Next Normal" report, we examine to what extent the pandemic halted credit card transaction volume growth, and touch on what the next steps will be as reopening progresses.Simply enter your information to get a copy of this exclusive PDF and to start receiving the eMarketer Retail newsletter, which covers today's most important trends in the world of commerce.Read the original article on Business Insider www.businessinsider.com
Banking News, BI Intelligence, BI Intelligence Content Marketing, Finance, Insider Intelligence, Insider Intelligence - Finance

Bank of America’s digital user engagement soars even as adoption decelerates

Bank of America disclosed that users are turning to digital channels more frequently, even as adoption slows. With adoption now approaching saturation, engagement will become the next frontier for banks. Insider Intelligence publishes hundreds of research reports, charts, and forecasts on the Banking industry. Learn more about becoming a client. Bank of America revealed that a pair of digital usage metrics surged year-over-year (YoY) during Q2 2021. ...
BI Intelligence, BI Intelligence Content Marketing, Finance, Fintech News, Insider Intelligence, Insider Intelligence - Finance

Bullish lives up to its name, announces $9 billion SPAC before even launching

Crypto exchange Bullish will go public via a $9 billion SPAC merger by year's end even though it hasn't launched yet. This leaves it little to go on to entice investors beyond its high-profile backers. Insider Intelligence publishes hundreds of insights, charts, and forecasts on the Fintech industry. Learn more about becoming a client. The crypto exchange will merge with SPAC Far Peak Acquisition Corporation and list on the NYSE by the end of the year, per Business Wire. ...
Banking News, BI Intelligence, BI Intelligence Content Marketing, Finance, Insider Intelligence, Insider Intelligence - Finance

Wells Fargo axes personal credit lines in bid for product simplicity

Summary List PlacementWells Fargo will eliminate its personal lines of credit as part of an initiative to streamline its product lineup, which involves unwinding some offerings over the next few weeks, per CNBC. Wells Fargo will eliminate its personal lines of credit.REUTERS/ Shannon Stapleton The US banking giant notified impacted consumers that its decision could affect their credit scores, and told the news outlet that it will refocus its consumer lending on personal loans and credit cards. The personal credit lines typically ranged from $3,000 to $100,000, and were intended to help consumers avoid overdraft fees and consolidate credit card debt at lower interest rates. Its decision to drop the loan offering also marks the bank's latest effort to simplify operatio...
BI Intelligence, BI Intelligence Content Marketing, Finance, Fintech News, Insider Intelligence, Insider Intelligence - Finance, Payments News

French alt lender Younited Credit raises $170 million to double down on embedded finance

Doubling down on its embedded finance solution puts Younited Credit in competition with the likes of Klarna and Afterpay. But the booming ecommerce market in France could also present a lucrative growth opportunity. The news: The French fintech, which offers credit products to European consumers, secured a $170 million round led by Goldman Sachs, per TechCrunch. It will use the funding to move deeper into European markets and grow its workforce. ...
BI Intelligence, BI Intelligence Content Marketing, Finance, Insider Intelligence, Insider Intelligence - Finance, Payments News

Google plans foray into Japanese cashless payments with pring acquisition

Google is in negotiations to buy cashless payments startup pring. Google is reportedly in negotiations to acquire pring, a Japan-based cashless payments startup, for between JPY20 billion ($187.3 million) and JPY30 billion ($281 million), according to Nikkei Asia. Proximity mobile payment users will reach 27 million this y...
Banking News, BI Intelligence, BI Intelligence Content Marketing, Finance, Insider Intelligence, Insider Intelligence - Finance

Chime’s anti-fraud effort hits snag as some users report frozen accounts

Some customers became collateral damage from Chime's initiative to fight fraudulent federal stimulus checks and unemployment insurance. Chime's effort to fight fraud has yielded collateral damage: Some users have reported that their accounts were abruptly frozen or closed, per ProPublica. The US neobank 's initiative—geared toward stemming fraudulent receipt of federal stimulus checks and unemployment insurance—comes even as it also capitalizes on the checks to woo new customers, including with a $1,200 "Stimulus Sweepstakes" prize. ...