Robo advisors

The robo advisor for socially conscious investors will benefit from becoming part of the largest U.S. bank, but "we also want to maintain the dynamic ... that made OpenInvest what it is," one of its co-founders says.

Amerant Bank has invested $2.5 million in Marstone to provide a digital alternative to personal wealth advisors for new and existing clients. The technology "gets planning capabilities into the hands of any customer that wants them," says Jerry Plush, the Florida bank's new CEO.

The joint checking account is similar to its individual checking feature, launched last April, and will target millennial couples in particular.

As it does with savings, Digit's algorithm calculates how much users can siphon off their earnings into retirement without missing the funds.

Clients of the challenger bank's robo-adviser are able to see one another's trades, add comments and watch a leaderboard of top investors.

The fintech Wealthfront's latest wrinkle gives clients a high level of control over their money, including the ability to set automatic transfers to savings accounts or exchange-traded funds.

Fintechs are facing unique challenges in the pandemic. There might be a resurgence in funding on the horizon, but startups are looking to see what they can do now to weather the storm.

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Citizens Bank and Citigroup are among the financial institutions plugging away at a service that has gained little traction among customers.

Betterment has debuted a bank account, in conjunction with partner nbkc bank in Kansas City, Mo., that is targeted at millennials and marketed as a complement to its long-term savings products.

Andy Rachleff, the fintech's CEO, discusses the digital bank it's developing and the concept of "self-driving money."

The startup with a namesake app is already attracting young investors and has been in talks with banks about partnerships.

More digital competition, tougher tech choices and a completely new generation of customers are just some of the challenges facing bankers in the near future.

The bank may extend advisory service to clients with as little as $5,000 to invest; trading of the cryptocurrency has plunged.

Bankers are disputing upstarts' claims customers don't like them, noting progress that traditional institutions have made in recent years.

Wealthfront could roll out a debit card, automated bill pay and direct deposit in early 2020, Chief Executive Andy Rachleff said.

Wealthfront will add third-party mortgages to its investing platform, while Varo Money says robo advice and mortgages are in its long-term plans.

A new partnership will let some community banks and credit unions roll out robo-advice platforms without a significant investment of their own.

Software creates a portfolio for bank customers that could be designed to support, say, efficient energy sources or refugees and avoid investments clients consider objectionable.

A combination of mutual and clashing interests has driven many players — credit unions, big banks, community banks and fintechs — to offer high-interest, digital-only savings and checking.