The pandemic will have an impact on customer adoption of digital technologies. Financial institutions and fintechs can achieve growth by gaining consumers' trust and changing their mindset about new platforms.

There are millions of U.S. consumers who don't have access to traditional financial services. One challenger bank's mission is to help them overcome the barriers to financial inclusion.

"We can control our destiny," says Colin Walsh, CEO of the challenger bank, which spent more than three years seeking to become a full-fledged bank.

The online installment lender could be worth as much as $10 billion; the GSEs' net income jumped sharply from the first quarter after the rebound in the housing market.

ZenBusiness, which provides services to small businesses, will now offer banking along with tax, accounting and insurance help.

Banks, data aggregators and fintechs have clashed for a decade over how consumers’ bank account data should be shared with third parties. The agency says it will offer a plan, and industry officials have plenty of suggestions already.

Many in the industry support the National Credit Union Administration’s attempts to streamline regulations governing corporate credit unions, but critics claimed some elements could make it tougher to compete with fintechs.

As more payment enterprises embrace the ecosystem model, we will continue to see a shift toward composable and dynamic operations flows supported by an engineering-first approach and a smart digital core, Andres Ricaurte of Mphasis says.

The pressure is on the fintech, which helps banks make digital loans, to stanch its losses and show its lofty market valuation was deserved.

Digital wallets arguably reached a tipping point this spring when contactless payments jumped 40% in response to concerns that cash and payment terminals were helping to spread the coronavirus, Vidya Peters of Marqeta writes.