Mobile banking

GO2bank marks the latest effort by the prepaid card issuer and banking-as-a-service provider to deliver more traditional banking products directly to consumers. Its mobile-first account offers cash back, overdraft protection and a secured credit card to customers.

The company's new relationship with Billshark highlights its quest for partners that can deliver financial management products to complement its banking services.

The complaint charges the fintech startup with misleading customers about the interest they'd receive on deposits and the level of access to their money. It seeks an unspecified amount of consumer relief in addition to other remedies.

The two companies have worked together to provide a banking app that community banks can implement and deploy in 30 days.

A recent survey by the American Bankers Association found that mobile apps surpassed online banking as the go-to platform for consumers earlier this year, and its popularity has continued to rise since the onset of the pandemic.

Infinity FCU sought out a merger partner after realizing that even at $338 million in assets it was too small to provide the technologies members wanted. It could be a harbinger of more deals among larger players.

Some customer fraud and a lack of cooperation from partners Huntington Bank and Dwolla prevented Beam Financial from returning funds to savers, says Aaron Du, the fintech's CEO. He says he’s trying to make things right, but Huntington and Dwolla are taking the dispute to court.

Members of First Choice Community Credit Union will have access to mobile banking and other products once the institution becomes part of Credit Union of Ohio.

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.