Investment

Neobanks and Fintechs have raised the bar in terms of client experience and expectations, forcing incumbents to break free and innovate. Now they are coming after the next generation, launching next-gen youth-focused offerings. Europe is leading this charge with nearly half of the startups based in the region. With the increased popularity and competition how are these neobanks finding different ways to market and monetize? In this session hear from Taylor Burton, co-founder of Till Financial on why there is a race to capture the next generation and how Fintechs like Till Financial is turning is a popular trend into a profitable business.

Companies like Ally are mimicking the approach of fintechs by curbing overdraft charges and instituting other changes. It is a sign that startups’ efforts to improve customer experience were successful and that competition in digital-first banking will intensify.

Bilt Rewards, which offers a loyalty program and credit card that converts rent into reward points, raised $60 million from investors including Mastercard and Wells Fargo, giving the startup a $350 million valuation.

The U.S. subsidiary of Japanese banking giant Mitsubishi UFJ Financial Group has entered into a consent order with the Office of the Comptroller of the Currency that requires it to improve its information security protocols, hire more IT staff and create a board-level committee to monitor its progress.

President Biden urged a group of chief executive officers to help improve cybersecurity across the nation’s critical infrastructure and economy, citing a lack of trained professionals to adequately protect the U.S.

Email scams in which hackers siphon small amounts of money from thousands of accounts at once are on the rise. Here's what banks are doing about it.

Truepic, which helps companies like banks and insurers fight fraud by verifying images, raised $26 million in a funding round led by Microsoft’s M12 venture capital arm.

Canapi Ventures — created by former comptroller of the currency Gene Ludwig and banker Chip Mahan — and other venture capital firms say Peach Finance stood out because, unlike so many other startups, it's not focused on loan originations.

As the need for easy-yet-secure mobile banking authentication escalates and consumers become used to logging in by looking into a camera, banks are taking the technology more seriously.

Though banks were not directly affected by security flaws discovered in Azure systems last week, they need to be aware of the kinds of misconfigurations that could lead to massive data breaches.