Chime and Current pounce on stimulus opportunity

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..

Every morning the Business Insider Intelligence team delivers research briefings covering key trends moving industries. As a bonus for being a frequent Business Insider reader, we're including some free content below. Want more content like this daily? Join our FREE Business Insider Intelligence Daily newsletter by clicking here.

January 9, 2021 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. BRIEFING HIGHLIGHTS Citi and Grab partner for consumer lending in Singapore Citi and Grab have partnered to lend through Grab's app amid the ride-hailing giant's continued push into financial services. Read More → China regulator announces wider fintech investigations Chinese regulators are again cracking down on internet platforms looking to offer fintech services, in a bid to curb monopolistic practices. Read More → Venmo's COVID-19 check cashing promo is a shot at big banks Venmo is debuting a mobile check cashing feature and waiving fees when used to cash a stimulus check. Read More → Amex introduces a slew of credit card rewards to kick off 2021 Amex added new credit card rewards for its consumer and small business cardholders—encouraging spending and offseting pandemic declines. Read More → What the new UK-EU trade agreement means for UK fintechs The EU and the UK struck a free trade agreement, altering their relationship from January 1, but it barely mentions financial services. Read More → Three mobile banking account management must-haves Here are the three most in-demand account management features among US respondents that banks can offer o boost convenience and functionality. Read More → China business leaders don't expect full bounce-back until March 2021 Despite making strides in pandemic recovery over the last few months, China's business leaders don't anticipate a full bounce-back until March 2021. Read More → N26's Brazil debut pits it against hometown hero Nubank N26 has teased its entrance to the Brazilian market since 2019—and while it presents major opportunities, a big threat looms in the shape of Nubank. Read More → MX's agreement hints at the power of data platforms MX's agreement with an embedded finance startup emphasizes the importance of platforms and networks for secure data sharing. Read More → Walmart, CVS, Kroger, assist with coronavirus vaccine administration Large retailers like CVS, Walmart, and Walgreens are aiding US health officials with coronavirus vaccine administration. Read More → RESEARCH IN FOCUS 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 → 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 → 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 → BECOME A SUBSCRIBER Did you know the Daily is just a preview of everything Business Insider Intelligence has to offer? Our Briefing subscriptions deliver analysis on the biggest trends and decisions shaping the future of a specific industry. Stay on top and subscribe today to receive: A cornerstone industry report Daily Morning newsletters Opportunities to join the conversation Get Started Today → FOLLOW US Email sent to: nguyenvu1187.love5@blogger.com Manage your email preferences  |  Unsubscribe  |  Terms of Service  |  Privacy Policy © 2021 Insider Inc. 1 Liberty Plaza, New York, NY 10006