The neobank is reportedly on the verge of a $100M raise ahead of a planned IPO.

We look at how the tanking pound and growing economic uncertainty are affecting UK banks.

A Fed official has suggested updating bank merger rules that account for the proliferation of fintechs and nonbank entities in the banking system.

A looming recession and economic turmoil will hinder neobanks’ ability to get in the black. They’ll have to fight to create profitable and sustainable growth—and put investors’ and customers’ minds at ease.

Macroeconomic and geopolitical concerns are forcing Canadian financial institutions to address issues surrounding consumer financial health, US acquisitions, and a potential fintech flameout. In the long term, open banking, digital transformation, and omnichannel personalization will pose unique challenges.

A looming recession and global turmoil threaten US incumbent banks’ bottom lines. But refocusing on core tech priorities and consumer needs will help banks reclaim the high ground in the fight for customers and talent.

The neobank will refund customer deposits and return its banking license, adding another headstone to the Australian neobank graveyard.

Capital One was the most downloaded US banking app between January and April 2022, with 5.0 million net new installations. Digital-only contender Chime took the No. 2 spot, with 4.7 million, while Chase came in third, with 4.1 million net new installs.

The CEO claims the neobank’s strategy is right on track. But it’s not profitable, it’s burning through funding, and its low revenue this year hurts the possibility of more funding.

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

Technology decision-makers within the banking industry will need to balance high tech spending with the potential for competitive disruptors.

Technology decision-makers within the banking industry will need to balance high tech spending with the potential for regulatory disruptors.

Technology decision-makers within the banking industry will need to justify tech plans if spending growth is to remain steady.

Here’s what credit unions need to do to reverse a drop in member satisfaction.

Chime was the most downloaded US mobile banking app in 2021, with 12.8 million downloads, up 16% from 2020. Other neobanks had a huge year as well: Current posted 67% growth in downloads, and Varo skyrocketed to 10th place with a 529% increase. That said, traditional banks took the rest of the top five positions.

Insider Intelligence spoke with Carolyn Feinstein, Varo Bank’schief marketing, growth, and design officer, to better understand how CMOs are redefining their roles as digital becomes the default banking channel for customers

This fifth annual benchmark stacks up 23 US financial institutions against one another, evaluating their mobile app capabilities based on consumer demand for 42 emerging features.