In October, Clarus Investments found that UK Pre-Series A funding peaked in 2018 at $339.8 million and declined in both 2019 and 2020. Behind the numbers: The UK’s heritage as a center of global finance, coupled with a supportive regulatory environment, has made the vibrant fintech scene a bright spot in its economy.

You need a complete infrastructure, including technology and people, to take advantage of investments in digital marketing and platforms. Read the full Q&A with Justin Morcelle here.

JPMorgan kept its eye on technology and the crypto trend—no matter what Jamie thought personally: The banking giant’s 2021 featured a UK digital-only launch, fintech acquisitions, crypto offerings for retail clients, and advocating for staff in branches to become licensed advisors.

One in six Americans feel unwelcome purchasing banking products due to their race, gender, socioeconomic status, or sexual orientation. Black and Hispanic customers are 44% more likely to select a bank based on their personal values, compared to the average consumer.

The US banking giant agreed to purchase UK digital wealth manager Nutmeg Saving and Investment Ltd. for a sum between £500 million ($641.2 million) and £1 billion ($1.28 billion), The Wall Street Journal reports.

PayPal also told TechCrunch that it’s working on an investment feature that will support the ability to buy stocks, fractional stocks, and ETFs. The big takeaway: PayPal’s super-app ambitions, combined with its huge customer base and digital prowess, have the potential to rattle the banking industry.

For a deeper dive into thoughts from the chief marketing officers at 10 of the most innovative banks, credit unions, and neobanks in the US and Canada, read “The Banking CMO Report: 10 Leaders on Priorities, Challenges, and Opportunities.”.

Greenwood’s celebrity-backed marketing strategy follows similar initiatives from other US banking players. In February, neobank Varo announced a partnership with NBA star Russell Westbrook—who also led its $63 million investment round—which involves creating an impact platform to assist underserved communities.

The round included an investment from Jeff Bezos’ personal investment company, Bezos Expeditions. Pilot’s software and support team integrate directly with small and medium-sized businesses’ (SMBs’) billing, banking, expense, and payroll systems to automate back-office functions such as bookkeeping and tax prep. Pilot will use the funding to expand its product suite for the back office.

While it’s not the biggest US neobank, Varo’s national banking charter gives it an edge in its home market. Attaining this charter wasn’t easy. Varo spent three years and $100 million navigating a sea of complex regulatory and capital requirements, per Banking Dive. In return for its efforts, Varo can now offer a full spectrum of banking services without having to pay a licensed partner.

In this report, we explore how digitization is reshaping the banking CMO’s role, responsibilities, and priorities through exclusive interviews with 10 banking industry CMOs in the US and Canada.

News roundup: On Wednesday, eight crypto firm executives, including Alesia Haas, the CFO of Coinbase, will testify before a US House banking panel regarding the “challenges and benefits of financial innovation.”. Last week, the Office of the Comptroller of the Currency told banks they need permission to hold cryptos or stablecoin-backing deposits.

The US challenger’s plan to mix decentralized finance with traditional banking in a “hybrid finance” approach could shore up its appeal to younger users.

Go deeper: Check out our "Retail health clinics are banking on the COVID-19 bump" note to learn more about retail clinics' strategies to acquire consumers.

The UK incumbent is introducing a revamped retail banking model aimed at boosting revenues and reclaiming market share from neobanks, per the Financial Times. The improved platform will utilize video to increase access to human bankers, offer new low-risk investment products for mass market savers, and expand NatWest’s credit solutions.

The news: Banks have a window of just 18 to 24 months to position themselves for the post-recovery years—or else risk being left in the dust when it comes to delivering shareholder value, per McKinsey’s Global Banking Annual Review.

Even if the metaverse falls short of the hype, these investments will likely be well spent: Blockchain-based payments are the future.

He is experienced in leading sessions to understand customers’ goals, vision, challenges, existing technology stacks, and investments, offer solutions that help clients mature their marketing, and achieve their business goals. Evan Nicholson is senior director, experience strategy at Merkle.

Lloyds Banking Group includes Lloyds Bank, Halifax, and Bank of Scotland, which all offered substantially similar mobile banking features. NatWest and Royal Bank of Scotland are part of the NatWest Group, and both banks offered substantially similar mobile banking features. While we mention only the banking groups in our study, it should be inferred that we are referring to their subsidiaries as well.

The company obtained an Australian Credit Licence, which was green-lit by the Australian Securities & Investments Commission (ASIC). This lets Revolut offer personal-lending and credit products to consumers. Revolut acquired Arvog Forex, an India-based financial-services company that offers multicurrency accounts and remittance services.