What to read today: Digital-Only Bank Account Holders Forecast: This report is based on Insider Intelligence's US, UK, and Canada Digital-Only Bank Account Holders Forecasts, compiled in June 2020. In it, we focus on the top five digital-only banks in each country by account holder numbers, and the factors specific to each bank that we think could impact account holder growth..
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| | | | | Chime and Current made select clients' stimulus payments available to them early. | The two US neobanks used their balance sheets to make the latest round of stimulus payments available early to some customers.
Current had credited accounts for tens of millions of dollars in payments by December 30. Meanwhile, a Chime spokeswoman said that by early December 31, the neobank had made $700 million in stimulus payments available to more than 700,000 of its customers.
Providing early access to stimulus funds is a reputation-boosting move for neobanks, and could be a potent customer retention and acquisition tool.
Business Insider Intelligence's Gregory Magana has the full story. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Digital-Only Bank Account Holders Forecast | | This report is based on Insider Intelligence's US, UK, and Canada Digital-Only Bank Account Holders Forecasts, compiled in June 2020. In it, we focus on the top five digital-only banks in each country by account holder numbers, and the factors specific to each bank that we think could impact account holder growth. | | Get the full report → |
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| | | | Fintech Accelerators | | Insider Intelligence spoke with key figures within the accelerators of top banks — Wells Fargo, Barclays, and Citi — to find out more about how they run their respective programs. The report details how the accelerators provide guidance to help startups develop their solutions, and highlight notable alumni startups from each program to reveal insights on how both fintechs and banks benefit from their participation. | | Get the full report → |
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| | | | Small Business Point-of-Sale Battle | | Insider Intelligence lays out the difficulties SMBs are facing during the pandemic and the opportunities POS providers have in helping firms address those pain points. We look at how POS providers can attract new SMB clients while helping their existing customers by meeting their changing needs during the pandemic. | | Get the full report → |
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