by Jim Bruene | Apr 22, 2020 | Checking & Transaction Accounts, Deposits, New Products, Startups
The latest USA challenger bank, with the odd, albeit memorable name, HMBradley, launched the first phase of its banking product line March 30. The Sant Monica, CA-based neobank offers a high-yield consumer checking account with a unique twist: tiered rates depending...
by Jim Bruene | Dec 3, 2019 | Deposits, New Products, Youth & Family Banking
Consumers love games of chance, discounts, and limited-time promos (e.g., Black Friday). Financial institutions are in an enviable position to profit from this consumer behavior by gamifying debit/credit cards and mobile app usage. While MasterCard and Visa have run...
by Jim Bruene | Aug 30, 2019 | Checking & Transaction Accounts, Fee-Based Services, New Products, Small Business Banking
There is little dispute that the primary financial relationship follows the paycheck. If you can snag the weekly/biweekly direct deposit, you have a very sticky customer. You have to really let them down to lose them at that point. Traditionally, banks have dangled...
by Jim Bruene | Jul 30, 2019 | Account Opening/Onboarding, Case Studies, Mobile UX, New Products, UX Problems
Wells Fargo announced its Greenhouse mobile bank/app in late 2017 (press release). The bank began limited trials a year later and is expected to make it available nationwide by the end of this year. It’s similar to Chase’s ill-fated Finn, in that...
by Jim Bruene | May 21, 2019 | Investing, New Products, Retirement Accounts, Simplification, Startups
Kindur has been in the fintech news lately, first when it raised $10M in December (led by Anthemis) and then more recently when it launched its investment management service. One of the best profiles was on a recent episode of The Bank On It podcast which interviewed...
by Jim Bruene | Apr 4, 2019 | Credit management, Fee-Based Services, New Products, Startups, Youth & Family Banking
Yesterday, one of my favorite recent YC grads (Summer 2018) Goodly, announced its $1.6 million seed round with participation from Norwest Venture Partners (which has historically been affiliated with Wells Fargo, which acquired its parent bank back in the 1990s). And...
