I was excited about Robinhood’s announcement too. The prospect of earning 3% on a savings and checking account was extremely appealing. The interest rate is 95 basis points (or 0.95%) higher than that of Goldman Sachs’ Marcus which continues to rank among the top yielding bank accounts. Unfortunately, it didn’t take long for the company […]
Today’s News
- Big Tech Firms Push the Fed to Take Lead in Real Time PaymentsAmazon, Apple, Google, PayPal, Square, Stripe and Intuit all joined a letter sent to the Federal Reserve asking the central bank to take the lead in setting up a real time payments system; right now the top 25 banks in the U.S. have created their won payments system but having the Federal Reserve run it […]
- Branch Deals are No Longer the Strategic Addition they Once Were2018 has seen only 45 branch deals, a 48 percent drop from three years earlier as banks have come to the realization that these deals are no longer a strategic addition in the digital age; customers, especially of big banks who have sold small storefronts, are less likely to change banks and stick with their […]
- Rising Interest Rates Impacting Smaller BanksWhile rising interest rates were supposed to helps banks, for many smaller banks this trend is having a negative effect, reducing their net interest margins and exposing the some of the weaknesses in the banking system. These smaller banks are experiencing some attrition in their markets as many larger banks continue to use mobile apps […]
LATEST PODCASTS
Podcast 179: Lowell Putnam of Quovo
Consumers want control over their personal data, particularly their sensitive financial data but at the same time they want seamless integration when they connect their bank account to a budgeting or financial management tool. Making these two, often opposing wants, work is the job of our next guest on the Lend Academy Podcast. Lowell Putnam […]
Podcast 178: Charlie Moore of Global Debt Registry
The securitization industry has yet to really be disrupted. It operates basically the same way it did a decade or even two decades ago. But that may be about to change. Today, there are some fintech companies looking to bring the entire securitization process on to the blockchain to reduce cost and increase transparency. One […]
Podcast 177: Rania Succar of Quickbooks Capital
Quickbooks has been synonymous with small business accounting for several decades now. But they recently launched Quickbooks Capital to provide their small business customers with an easy and transparent way to borrow money. Our next guest on the Lend Academy Podcast is Rania Succar. She was hired away from Google to head up this new […]