Banking innovation briefing Trends & Statistics

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Starling named among lenders with highest proportion of money lost to fraudulent Covid loans

Article
Sep 08, 2022

The UK business secretary has written to Starling about claims of ineffective customer checks.

What the collapsed $1.4 billion Wealthfront deal means for UBS

Article
Sep 07, 2022

It will disrupt the bank’s plans for digital expansion, growth in the US, and drive for a younger customer base.

British MPs urge 'Big Bang' reform to promote banking sector competition

Article
Sep 01, 2022

A UK parliamentary committee wants ‘Big Bang’ deregulation to improve banking competition.

Wall Street banks face more than $1B in fines over WhatsApp use

Article
Aug 24, 2022

Wall Street banks are expected to face more than $1B in fines over traders’ use of private messaging apps.

Goldman Sachs’ Marcus still on a costly hunt for ever-elusive maiden profit

Article
Aug 18, 2022

Six years after Goldman launched its digital bank Marcus, we review how it’s faring and what its future could look like.

Banking deals continue decline for Q2 but downturn could provide buyout opportunities

Article
Aug 10, 2022

The number of financial services deals declined 31% compared to Q1.

US banks under pressure to prioritize sustainability while still supporting fossil fuels

Article
Aug 09, 2022

Some state governments are penalizing them for not supporting the fossil fuel industry.

Robinhood’s troubles continue as disappointing Q2 prompts layoff of nearly a quarter of staff

Article
Aug 04, 2022

The trading app plans to fire almost one-quarter of staff to cut costs after a disappointing first half of trading.

UK banks weighing deals despite looming threat of recession

Article
Aug 03, 2022

Barclays, NatWest, and Lloyds are all exploring possible acquisitions despite market uncertainty.

Starling’s and Varo’s diverging paths highlight need for neobanks to prioritize profitability

Article
Jul 22, 2022

Starling posts a $44.1M profit as Varo Bank lays off 10% of its staff and plans to restructure.

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Continued decline in fintech funding signals harsher climate for startups

Article
Jul 15, 2022

Global fintech funding dropped by one-third in Q2, new data shows.

How Mercado Libre, the ‘Amazon of Latin America,’ could disrupt the region’s banking industry

Article
Jul 14, 2022

Goldman Sachs lent $233 million to help it grow its financial services presence in the region.

Banks caught up in money laundering scandals risk a customer exodus

Article
Jul 07, 2022

More than half of consumers in the UK would switch their bank if it was caught laundering cash, new research shows.

What a Robinhood takeover could bring to FTX

Article
Jun 29, 2022

As the crypto exchange reportedly mulls a takeover bid for the trading app, we look at the pros and cons of the rumored acquisition.

Nubank hunts cut-price startups as fintech valuations fall

Article
Jun 23, 2022

The neobank reportedly plans to buy Latin American fintechs at a discount due to the market downturn.

Bank of England claims lenders no longer 'too big to fail' but warns of needed improvements

Article
Jun 14, 2022

Consumers may not believe the Bank of England’s bold claim, and the regulator has warned several banks to make improvements.

What good is a CBDC, anyway?

Article
Jun 09, 2022

Otherwise, the Center for European Reform said CBDCs risk becoming an “expensive failure.”

JPMorgan’s UK digital bank wins half a million new customers but expects heavy losses

Article
May 25, 2022

Chase has attracted half a million customers since September. But it’s projected to lose $450M this year.

Investment managers need in-house research to mitigate ratings flaws and tap $50T ESG boom

Article
May 18, 2022

ESG ratings lack the consistency and timeliness to inform research, according to a unit of Goldman Sachs.

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