Insider Intelligence’s 2020 US Mobile Banking Competitive Edge Study reveals mobile banking tools that Chase currently lacks, which it could introduce to more fully meet customer needs with its app:. The ability to cancel subscriptions from within the Chase app. This feature is both in high demand and exceedingly rare.

In 2021, the number of new smartphone banking users in Canada will plummet to a third of the previous year’s level, which will considerably increase competition among financial institutions (FIs), including Scotiabank. As the battle for new mobile users heats up, FIs’ mobile banking app features will be crucial. This report identifies which key growth opportunities Scotiabank might focus on to gain and retain customers.

In 2021, the number of new smartphone banking users in Canada will plummet to a third of the previous year’s level, which will considerably increase competition among financial institutions (FIs), including Desjardins. As the battle for new mobile users heats up, the features of FIs’ mobile banking apps will be crucial. This report identifies which key growth opportunities Desjardins might focus on to gain and retain customers.

In 2021, the number of new smartphone banking users in Canada will plummet to a third of the previous year’s level, considerably increasing competition among financial institutions (FIs), including RBC. As the battle for new mobile users heats up, FIs’ mobile banking app features will be crucial. This report identifies which key growth opportunities RBC might focus on to gain and retain customers.

Activity in the field has continued, including US-based fintech Square’s pending acquisition of buy now, pay later (BNPL) provider Afterpay, which in turn is entering neobanking with a savings app.

In 2021, the number of new smartphone banking users in Canada will plummet to a third of the previous year’s level, considerably increasing competition among financial institutions (FIs), including Banque Nationale. As the battle for new mobile users heats up, FIs’ mobile banking app features will be crucial. This report identifies which key growth opportunities Banque Nationale might focus on to gain and retain customers.

The deal for the buy now, pay later provider, worth about $29B, hands Square an opportunity to roll out a consumer-side neobank in the US and to straddle two neobanking segments in Australia.

The UK-based neobank now offers app support for people making cross-border transfers between the countries. Its US division CEO spoke to Insider Intelligence about the feature and Revolut’s plans for a US-focused marketing push and expansion into Latin America.

BofA digital engagement surges: The US-based bank 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.

Some customers became collateral damage from the US neobank’s initiative to fight fraudulent federal stimulus checks and unemployment insurance—which could hurt Chime’s efforts to attract users and persuade them to make it their primary bank.

The US bank had sent an email to customers informing them of the timeline. The accounts update marks a major milestone for Truist, which was formed through the merger of BB&T and SunTrust. The bank recently noted that it plans to wrap up the migration of legacy SunTrust users in Q1 2022.

US boomers aren’t ready for mobile wallets

Over the past year, US banks built up a consumer trust advantage over competitors such as neobanks and tech companies, according to our second annual “Banking Digital Trust Report.” from Insider Intelligence. The largest US banks have come to customers’ aid in a time of crisis, and customers have rewarded that flexibility with greater trust in their primary financial institutions.

Banking tech vendor Zeta eyes US market boost: The company plans to enhance its global footprint with proceeds from a $250 million round led by SoftBank—placing it in a strong position to make clients out of smaller banking players that are eager to upgrade their offerings.

Banking-as-a-Service (BaaS) is getting hot in the US and UK as a growing number of providers start offering the service, but in order to enjoy the revenue, data, and innovation opportunities of the business model, BaaS providers need to stand out along the metrics by which prospective clients judge them. Three Key Questions This Report Will Answer:.

Latino-focused Fortú rolls out with support from SoFi, LendingClub: Fortú will serve un- and underbanked US Latinos—and it has the opportunity to gain traction by initially targeting underserved consumers within a market of around 60 million Latinos.

The US has been relatively late in introducing contactless cards, which are credit or debit cards that include a near field communication (NFC) chip that can complete a transaction simply by tapping on a reader. But those cards are starting to arrive in the US now that most point-of-sale (POS) systems have the NFC capabilities to accept them.

US bank branches are still shuttered amid the pandemic, but consumers are more likely to conduct their banking online, according to recent research.

Despite the decline in total ad spending in the US this year, the financial services industry will increase its digital ad outlays. Why? The pandemic has caused many consumers to reassess their personal finances and change how they bank, leading the financial services industry to continue spending on digital ads during the pandemic.

More on this: The money transfer feature works in other Western Hemisphere countries—including the US, Mexico, Argentina, and Chile—plus markets farther out from Brazil like the UK, Australia, Portugal, and Japan. Remessa Online expects the Nubank partnership to amp up its user base from the 350,000 it has served within the last 12 months to 1 million.