Retail: Page 46
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Wealth management fintech gets boost from Florida community bank
A $2.5 million investment from Coral Gables-based Amerant Bank accounted for half of a Series A funding round for Marstone, whose CEO says the pandemic has accelerated every institution's digital roadmap.
By Anna Hrushka • June 30, 2021 -
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JPMorgan Chase eyes 3rd fintech acquisition in the past year
The latest tie-up follows a busy year of deal activity for the U.S.'s largest bank, which is also eyeing growth opportunities in the U.K. and Brazil.
By Anna Hrushka • June 29, 2021 -
Explore the Trendline➔
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TrendlineThe Banking Dive Outlook on 2022
Some narratives in 2022, such as office returns, will seem like a logical progression from the year before. Others, such as the regulatory sphere and shift toward smaller M&A, may mark a big shift from the previous 12 months.
By Banking Dive staff -
Overdraft alternativesTD Bank introduces no overdraft-fee account, revises overdraft policy
The account comes with a $4.95 monthly fee. The bank, effective in August, will increase its overdraft threshold to $10 and reduce the number of times a customer can be charged an overdraft fee from five per day to three.
By Anna Hrushka • June 28, 2021 -
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Neobanks expand, add products for US immigrant market
Majority secured $19 million in seed funding to help it expand nationally. Remitly's Passbook debuted a series of new features. And Fair officially launched.
By Anna Hrushka • June 25, 2021 -
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Overdraft alternativesTiming is right for overdraft legislation, lawmaker says
Rep. Carolyn Maloney, D-NY, who has introduced the Overdraft Protection Act every Congress since 2009, said the COVID-19 pandemic has highlighted the need for more transparency in banks' overdraft practices.
By Anna Hrushka • June 24, 2021 -
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HSBC to sell French retail banking operations to Cerberus-backed entity
Europe's largest lender expects to take a $3 billion hit as part of the deal, which is set to close during the first half of 2023.
By Dan Ennis • June 21, 2021 -
Courtesy of Verizon
Verizon targets Gen Z market with new digital banking app
For a $5.99 monthly fee, Family Money lets parents monitor and cap their children's spending, block certain spending categories and set up allowances.
By Anna Hrushka • June 18, 2021 -
Christopher Doering/Banking Dive
Grocer Hy-Vee rolls out checking, savings accounts for shoppers
The newly launched financial services program also offers car, home and pet insurance and home and consumer loans through Midwest Heritage, a bank owned by the Iowa-based chain.
By Sam Silverstein • June 18, 2021 -
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JPMorgan to buy robo-adviser Nutmeg to bolster UK footprint
The deal, for an undisclosed sum, comes months after the bank acknowledged it would launch a digital banking platform in the country this year, and after the two companies partnered on a product in November.
By Dan Ennis • June 17, 2021 -
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Neobank Better Financial aims to cushion financial shocks for gig workers
The startup uses account holders' current payroll data and past payroll history to underwrite low-interest emergency loans.
By Anna Hrushka • June 17, 2021 -
Overdraft alternatives
Capital One launches early access to direct deposit
The McLean, Virginia-based bank joins Fifth Third in offering the feature, which is already commonplace among neobanks.
By Anna Hrushka • June 16, 2021 -
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Goldman's Marcus finds its next CFO within
Liz Ewing, who most recently served as chief of staff for Goldman CFO Stephen Scherr, joined the bank in 2011 and has co-managed its regulatory policy team.
By Dan Ennis • June 16, 2021 -
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Return to the officeMorgan Stanley, Bank of America CEOs break relative silence on office returns
"[By] Labor Day, I'll be very disappointed if people haven't found their way into the office and then we'll have a different kind of conversation," James Gorman said at a conference.
By Dan Ennis • Updated July 26, 2021 -
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National banks outpace regionals in digital satisfaction: J.D. Power study
Bank of America bested JPMorgan Chase in mobile app satisfaction among national banks. Regions Bank and Huntington Bank took the highest marks among regionals in online and mobile app satisfaction, J.D. Power found.
By Anna Hrushka • June 14, 2021 -
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Citi's new 5% cash-back card adapts to users' changing spending habits
Days after Wells Fargo launched a product to compete with the world's top card issuer, Citi rolled out its own offering in a signal that the card space is ready to rebound from a relatively muted 2020.
By Anna Hrushka • June 11, 2021 -
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Regions Bank agrees to buy home improvement lender EnerBank for $960M
The tie-up, set to close in the fourth quarter, spotlights the Alabama-based bank's focus on smaller, nonbank acquisitions. Regions opted in 2019 not to renew a home improvement lending partnership with GreenSky.
By Dan Ennis • June 9, 2021 -
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Why some lenders are going all-in on video banking
OceanFirst Financial plans to extend its video banking services to mobile devices, while U.S. Bank recently added video to its co-browsing service.
By Anna Hrushka • June 8, 2021 -
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Challenger bank Dave to go public through $4B SPAC deal
Victory Park Capital, the Chicago-based investment firm sponsoring the merger, provided a $100 million credit facility to Dave in January, the fintech said.
By Anna Hrushka • June 7, 2021 -
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Citi eyes expanded US branch footprint alongside Asia pivot
The bank's strategic revamp and risk control overhaul will take years, CEO Jane Fraser said, adding that Citi's Latin America unit saw a bump once it narrowed its focus to Mexico.
By Dan Ennis • June 7, 2021 -
Permission granted by Huntington Bank
Overdraft alternativesAlly, Huntington launch efforts to curb overdraft fees
Huntington's new $1,000 line of credit may cost the bank $1 million a month but earn customers' loyalty. Ally, meanwhile, eliminated overdraft fees altogether.
By Anna Hrushka • June 2, 2021 -
Szekely, Pedro. (2017). "Chicago Skyline" [Photograph]. Retrieved from Flickr.
Old National would broach Chicago in $2.5B First Midwest merger
The deal, which may close late this year, would forge a $45 billion-asset bank with dual headquarters. Indiana-based Old National would add between 90 and 100 locations around the nation's third-largest city.
By Dan Ennis • June 2, 2021 -
Brian Tucker/Banking Dive
Overdrafts take a second bow as bank CEOs testify in muted House 'sequel'
Citi said it would reconsider a racial audit, Bank of America confirmed a June 1 office return, and Goldman Sachs's David Solomon pushed back on a slavery question.
By Dan Ennis • May 28, 2021 -
Senators, bank CEOs spar on Capitol Hill over compensation, voting rights
Wednesday's hearing showcased how the country's banking sector has become a battleground for lawmakers to debate politically charged issues dividing Republicans and Democrats.
By Anna Hrushka • May 27, 2021 -
Matt Cardy/Getty via Getty Images
HSBC sells 80 branches to Citizens Bank, 10 to Cathay in US retreat
Europe's largest lender is closing 35 to 40 branches but repurposing 20 to 25 other locations as international wealth centers to serve its mostly Asia-based private-banking and wealth-management clients.
By Dan Ennis • May 27, 2021 -
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Neobank Paybby to bring crypto investing to Black and Brown communities
"It's a great new investment class, and the people of our community should have access to this investment class just like anybody else," CEO Hassan Miah said.
By Anna Hrushka • May 25, 2021
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