In the increasingly crowded US buy now, pay later (BNPL) space, the convenience of Upgrade’s single-invoicing feature could catch consumers’ attention.

The banking giant will buy fintech GreenSky in a deal worth about $2.24 billion, broadening the line of products available to consumers through its direct bank unit.

Digital-only banks—and neobanks in particular—have emerged as potent threats to incumbents, and many disruptors that could further shake up the US banking market loom large. But incumbents can still secure digital account holders by adopting digital best practices championed by challengers.

Co-brand card issuers and brand partners have an opportunity to reimagine their offerings in the pandemic’s wake. Leaning on newfound digitization and shifting spending habits can help providers tailor their offerings in ways that widen their net, grow volume, and appeal to the maximum number of customers.

The US regional bank joins other incumbents that have recently added a feature which used to be a differentiator for neobanks—and broadens its safety net for customers in need of short-term financing.

The banking giant narrowly got the top spot in J.D. Power’s annual U.S. Banking Mobile App Satisfaction Study—a designation it achieved as it has rolled out mobile security and alerts features.

Digital trust—the confidence that bank customers have in their providers’ digital channels—is a precious commodity for banks. As competitive and cybersecurity threats abound, trust will be their advantage to lose.

After the coronavirus pandemic forced issuers to adapt rewards, enhance forbearance, and build out digital tools to cope with a volume hit in 2020, they’re looking to reimagine their offerings in the future to add new customers and regain primary card status.

Consumers’ growing willingness to get their financial services from non-FI providers is spurring consumer brands to embed financial elements in their products and services. But this new form of finance will mean dramatic changes for incumbent and startup FIs.

This annual scorecard, weighted based on responses to a consumer survey, ranks the 25 largest US financial institutions by assets by their mobile banking capabilities. The report presents detailed benchmarking data on the availability of 42 mobile features, selected by analysts based on the features’ propensity to help financial institutions differentiate themselves from competitors.

Financial services firms are increasing their digital budgets, particularly for mobile, to target young consumers.