Digital Banking 2020

Foreign banks for years have been using technology that folds several communication and information-sharing capabilities into one platform. Now Citigroup and others here are showing interest because of the growing importance of digital in the pandemic.

The media company Urban One has launched a new account that includes a prepaid debit card and encourages customers to buy from Black-owned business and lets them donate their cash back to charity.

The media company Urban One has launched a new account that includes a prepaid debit card and encourages customers to buy from Black-owned business and lets them donate their cash back to charity.

Over the past year, the Alabama bank has been developing new tools that analyze survey responses, phone interactions and social media posts to identify opportunities to improve digital offerings.

Bank of America is applying a familiar arsenal — including APIs and its popular virtual assistant, Erica — to online business banking, cross-border payments and cash management in an effort to modernize those services.

Mobile and online banking technologies that the Toronto bank previously rolled out, including a virtual assistant developed by Kasisto and money management tools made by Moven, have become much more popular since the arrival of COVID-19.

Chase First Banking is embedded in the bank's mobile app and has parental controls. It is an example of how banks are trying to attract Generation Z.

Crane Credit Union has taken an Instagram Stories-like approach, while Certified Federal Credit Union is crafting personalized email messages.

Television executive Ryan Glover, rap star Killer Mike and civil rights icon Andrew Young have launched a digital bank for Black and Hispanic consumers called Greenwood Financial.

SaveBetter.com from Deposit Solutions lets consumers shop for different savings products through one portal and provides national exposure for participating banks, which include Ponce Bank in New York and Central Bank of Kansas City.

In July, the OCC issued a letter clarifying that federally chartered banks can store cryptocurrency assets for their clients. A recent global survey finds that many are wary of the risks.

The lawsuit follows two successful USAA suits against Wells Fargo that claimed infringement of patents.

Harit Talwar, who is moving from CEO of the digital banking unit to chairman of consumer banking, says Marcus wants to add checking and investment products, embed its offerings in additional high-profile platforms, and grow far beyond its current 5 million customers.

Russia's largest bank is reinventing itself as a technology company and selling its own consumer electronic devices. Its chief tech officer says the moves are all about developing broader, more enduring customer relationships that the bank controls fully.

The bank worked with TravelBank, a fintech, to offer virtual cards and an app that automatically generates expense reports.

The bank worked with TravelBank, a fintech, to offer virtual cards and an app that automatically generates expense reports.

The North Carolina bank deployed Finxact's new technology, which runs on Amazon Web Services, to make Paycheck Protection Program loans and will use it next to offer business savings accounts and CDs.

Small and midsize banks would pay for access to the Monit app and offer it to small-business clients as an add-on service.

A survey conducted by Harris Poll and commissioned by Plaid found that 60% of U.S. adults are using more apps to manage money since the onset of the pandemic.