American Banker. Moven was founded in 2011, initially operating its direct-to-consumer model with basic features like a debit card, access to 40,000 ATMs, and personal finance management tools including budgeting tools and nudges to help users save.It has since expanded to also operate a business-to-business model, Moven Enterprise, which offers white-label digital banking software for major banks like TD Bank in Canada and Westpac in New Zealand.
Moven's business model was largely dependent on funding — neobanks should assess their operating models so they can sustain operations even if funding falls through. With the outlook for funding appearing dim as the coronavirus pandemic continues to rock global markets, it will be difficult for those neobanks that rely on funding to sustain operations if they don't also have other sources of revenue.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The US is using mobile ad data to track people's movements during coronavirus lockdown - Business InsiderThe data is anonymized, so the governments are studying general population movement rather than tracking individuals. I thought they have spied on americans since years. I imagine they can track anyone at will regardless. They just have no reason to track the majority until now. 1GigiSims I've been leaving my phone home when I run errands more and more. I'm finding it quite liberating.
Source: BusinessInsider - 🏆 729. / 51 Read more »
The next wave of the coronavirus will affect people throughout the US - Business InsiderThe next wave of coronavirus outbreaks is threatening cities from New Orleans to Philadelphia, and it reveals the US is on pace for a national epidemic It’s a pandemic meaning it’s an epidemic...but everywhere
Source: BusinessInsider - 🏆 729. / 51 Read more »
How the US government will allocate $100 billion to hospitals: FAQ - Business InsiderWe got ahold of a document from Senate Democrats that provides clues to how the federal government will allocate $100 billion from the coronavirus stimulus to hospitals leonardkl *how they would want A bit late in the day, but makes a nice aspirational nevertheless.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Top US restructuring lawyers who worked on biggest bankruptcies - Business Insider10 lawyers who navigated the biggest bankruptcies in history are set for a huge boom in business as the coronavirus fuels a restructuring surge
Source: BusinessInsider - 🏆 729. / 51 Read more »
Tech incubator inside former US consulate helps cross-border startups - Business InsiderThe Bridge Accelerator Program gives companies along the US-Mexico border the skills to compete for contracts from multinational corporations.
Source: BusinessInsider - 🏆 729. / 51 Read more »