Will Hernandez

Several wealth management firms, including Marcus by Goldman Sachs and Wealthfront, have launched banking products to complement their investment services.

Lenders have learned that automated wealth management tools enhance financial advisers' interaction with clients and can bring in more business.

The new funding comes as the challenger bank inches closer to gaining regulatory approval for a national bank charter.

Raisin, an online marketplace that aggregates high-yield savings accounts in Europe, aims to launch in the U.S. in the next nine to 12 months.

Alexander Lopatine, who founded Nymbus and has joined Mbanq, says alternative providers are gaining the confidence of more banks. However, questions remain about their staying power in the fight with traditional vendors.

Challenger banks promote the concept of empathy in banking, which sometimes means forgoing revenue to build up customer goodwill.

Citigroup will be the first major issuer to use Mastercard technology to give U.S. credit card holders the ability to instantly redeem points on eligible purchases online and through a mobile app.

Aura is one of the few fintechs in the nation to have a community development financial institution designation from the Treasury Department.

Banks are increasingly turning to outsiders like Nikki Katz, a former Disney executive now at Bank of America, and Joel Kashuba, formerly of Procter & Gamble and now at Fifth Third, to help build their digital experiences.

Customers of Marcus, the consumer lending arm that launched in 2016, defy easy categorization, according to an executive at the Wall Street bank.