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Ten percent of people who used their cellphones to make a deposit had it returned to the originating institution due to fraud, according to new research.
June 6 -
American Express can provide affordable products to the unbanked and still make a profit, company executive Dan Schulman said at the Emerge conference. He was vague on details but hinted that its prepaid cards built on an lower-cost software platform are part of the answer.
June 5 -
When Bank of America (BAC) announced a new deposit account with a reliable $4.95 monthly fee, some industry observers questioned whether the Charlotte, N.C., company could squeeze out a profit.
June 6 -
A reporter spent a day trying to cash checks, send money and complete other financial transactions without the use of a bank account. He was surprised by what he saw.
June 5
LOS ANGELES
The company's app is designed to provide consumers with a focused plan for how to pay down their debt. It tells them how much cash they have left each week for discretionary purchases.
"If I want to achieve my financial goal, this is all I need to do, the one action I need to take," Moneyworks co-founder Ben Weiss told an audience Friday at a conference focused on innovation in consumer financial services, which was
The Moneyworks app has been touted as an improvement on certain earlier personal financial management tools because it goes further to influence consumers' spending patterns.
Moneyworks plans to launch its app on July 1, according to Weiss.
The contest was sponsored by Core Venture Capital, a firm that invests in financial startups.
The three other finalists were: