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Challenger bank in Puerto Rico combines checking, crypto in one account

FV Bank will let users hold crypto and traditional currencies in the same account. It says it can do that because it’s licensed in the U.S. territory as a bank and a digital-asset custodian.

Puerto ricoUnited statesJohn delpontiSam wynerBank secrecyBerkeley research groupQuontic bankRaddon researchUs bancorpFv bankMiles paschiniFinancial institutionsFederal reserve systemBank secrecy actLatin americanDigital banking

Bank of America grabbing 1 in 3 Gen Zs and millennials with mobile

Bank of America grabbing 1 in 3 Gen Zs and millennials with mobile
cuinsight.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cuinsight.com Daily Mail and Mail on Sunday newspapers.

United statesRaddon researchAre millennialsGenz gravitatingஒன்றுபட்டது மாநிலங்களில்உள்ளன மில்லினியல்கள்

How banks and fintechs are fighting for Gen Z s attention

Shannen Balogh; Samantha Lee and Skye Gould/Insider This story is available exclusively to Insider subscribers. Become an Insider and start reading now. Gen Z is projected to be the largest US consumer base by 2026. The COVID-19 pandemic has only accelerated a trend toward digital banking. Fintechs are trying new tools and marketing to reach the younger generation. Tayler Krebs remembers her friends reactions when she started using Step, a banking app that caters to Generation Z. Krebs, a ninth-grader, had early access to Step because the company s CEO, CJ MacDonald, is a close family friend. The startup offers a secured credit card and the ability to send and receive money through its app. For Krebs, it means her parents can fund her account in minutes so she doesn t have to ask for cash every time she goes out.

United statesBetsy graseckTimothy sheehanKaren kislinTaylor krebsJustin timberlakeCharli damelioBrian hamiltonEric jonesJason dorseyAl burgioNichole jacklyneKavita kamdarEli manningMorgan stanleyRaddon research

Big banks are deposit vacuums: How other institutions can slow the flow

Big banks are deposit vacuums: How other institutions can slow the flow That giant sucking sound is Millennial deposits flowing into the largest banks, who are reaping more than 80% of 2020 s record-breaking haul, new data confirms. Community banks and credit unions must strengthen connections with younger consumers now. Here are several ways they can do that. The lopsided distribution of new deposits among various financial institutions during COVID 2020 is almost as jaw-dropping as the size of the deposit inflows since the start of the pandemic. First-half deposit growth was a record-shattering $2.4 trillion, five times the size of the first two quarters of the Great Recession. Even in the third quarter, deposit growth still continued, albeit at a much slower pace.

United statesAndrew vahrenkampRaddon researchWells fargoSenior research analystProgram managerஒன்றுபட்டது மாநிலங்களில்கிணறுகள் ஃபார்கோமூத்தவர் ஆராய்ச்சி ஆய்வாளர்ப்ரோக்ர்யாம் மேலாளர்