Tagged: money management

Higher Incomes Obscure Financial Strain on Households Struggling with Debt – Achieve Study Claims

Despite a significant rise in household incomes, consumers struggling with debt are often in worse shape and further behind financially now than those who were dealing with these issues during the pandemic, according to a new study by Achieve, the digital personal finance firm. Achieve… Read More

US Consumers Deplete an Average of 67% of Savings Once Every 4 Years – LendingClub Report

LendingClub Corporation (NYSE: LC), the parent company of LendingClub Bank, America’s leading digital marketplace bank, released key findings from the 27th edition of the Reality Check: Paycheck-To-Paycheck research series. The Savings Deep Dive Edition “examines consumers’ ability to preserve their savings in the current economic… Read More

Wealth and Investment Services: Wells Fargo Extends Availability of LifeSync, a Digital Approach to Money Management

Wells Fargo & Company (NYSE: WFC) announced the expanded availability of LifeSync, a personalized digital approach to aligning customers’ goals with their money, to all consumer customers. Available in the Wells Fargo Mobile app, LifeSync launched to all Wealth & Investment Management (WIM) clients earlier… Read More

Nearly 30% of Gen Z Consumers Living Paycheck to Paycheck Cite Nonessential Spending as Cause for Financial Distress: Report

LendingClub Corporation (NYSE: LC), the parent company of LendingClub Bank, America’s digital marketplace bank, released findings from the 25th edition of the New Reality Check: Paycheck-To-Paycheck research series.” The Nonessential Spending Deep Dive Edition examines “the impact of nonessential spending on consumers’ ability to manage… Read More

Money Management: Fintech Magnifi Announces New Initiative Supported by Financial Professional Nicole Lapin

Money News Network and Magnifi announced a “first-of-its-kind” podcast, “Money Assistant,” hosted by financial expert Nicole Lapin and the voice of Magnifi’s AI-powered investing assistant. This collaboration promises to improve “the way listeners engage with personal finance, offering a fresh blend of human expertise and… Read More

UK’s PensionBee Claims that Half of Retirees Might Lose Out Due to Low Interest Savings Accounts

At least half of retirees could be missing out on hundreds of pounds of interest each year through “keeping their savings in accounts with rates of 3% or less a year,” according to new research. As high street banks have come under fire for failing… Read More

Jordan Wexler, CEO of EarlyBird: Fintech Industry Veteran Explains Importance of Family Finance

Jordan Wexler, CEO of EarlyBird, recently discussed the importance of family finance and how this is a pivotal moment in US history in relation to the great wealth divide. During his recent interview with CI, Jordan highlights the growth of fintech is now more accessible… Read More

UK’s PensionBee Reports Increase in Pension Contributions, As Withdrawals Fall from 2022 to 2023

Pension savers have reportedly “contributed over 20% more to their pensions in Q2 2023 compared to the same period last year, despite persistent levels of high inflation,” according to new analysis from online pension provider, PensionBee. The average quarterly contribution amount “for female savers increased… Read More

Fintech Douugh Introduces Pay Now or Pay Later (PNPL) Stockback Rewards Mastercard

Douugh Ltd (ASX: DOU), the consumer fintech on a mission to empower everyday Aussies to take control of their money and build long term wealth on autopilot, is announcing the launch of the “world’s first” Pay Now or Pay Later Stockback rewards Mastercard. With the… Read More

UK’s Starling Bank Supports Money Management Tools with “Split Payment” Feature

Starling Bank customers can now organize their salary payments across their account. The new feature, called ‘Split payment’, allows customers “to decide how much of an inbound payment, such as their salary, to put away and where, including their saving Spaces, joint accounts, additional accounts… Read More

UK Savers Prioritize their Pensions Amid Rising Cost of Living, PensionBee Analysis Reveals

Analysis from online pension provider, PensionBee, reveals that pension savers put significantly more money “aside for their retirement at the start of 2023 than they did in the latter part of 2022, despite persistent levels of high inflation.” The average quarterly contribution amount “for female… Read More

Money Management: UK Consumers More Likely to Open Joint Account When they Reach 25-34 Age Range, Survey Reveals

Money is the number one cause of quarrels for three out of 10 couples in the UK, according to a survey by Starling Bank. Couples aged 45-54 reportedly “have the most disagreements (39%), along with parents (37%).” The research, which “questioned 4,000 over 16s in… Read More

Vietnam: Techcombank, Personetics to Help Consumers Improve Financial Well-Being

Vietnam Technological and Commercial Joint Stock Bank (Techcombank)  announced a new partnership with Personetics, the firm focused on financial data-driven personalization and customer engagement for financial services, in order “to introduce artificial intelligence (AI)-powered money management capabilities.” The cost-of-living crisis “has been impacting consumers in… Read More

Wells Fargo Introduces Digital Platform to Help Clients Manage Their Money

Wells Fargo & Company (NYSE: WFC) announces the launch of LifeSync, a personalized digital approach to aligning clients’ goals with their money. LifeSync, in the Wells Fargo Mobile® app, will be “available at the end of March to Wealth & Investment Management (WIM) clients.” Delivering… Read More

Stackin, a Financial Wellbeing App, Reveals its Sign-Ups Increased as Consumers Need Help with Money Management

As searches for financial wellness skyrocket, financial therapist Megan Ford offers advice to consumers on how to look after their mental health – and their money With the news covering inflation, recession and the cost of living crisis more, it’s no wonder Americans are “feeling… Read More

STP Investment Services Acquires Wealth Advisory Fintech WealthSite

STP Investment Services (STP), a global, technology-enabled, end-to-end investment operations service provider, announced it has acquired WealthSite, a firm that provides “a fully integrated and highly customized accounting, portfolio management, reporting and analytics platform to single and multi-family offices, traditional wealth advisory firms and money… Read More

Marketplace Lender Prosper Releases Latest Performance Update

The team at Prosper notes that they’re sharing performance data from the Prosper Portfolio for October 2022. Highlights from the Prosper Performance Update – October 2022: Dollar % of AA-B rated loan originations in October comprised approximately 63% of total loan originations, representing a 102… Read More

Marketplace Lender Prosper Shares Latest Performance Update

The team at Prosper has shared their performance data from the Prosper Portfolio for July 2022. Highlights from the Prosper Performance Update – July 2022 are as follows: In July, approximately 59% of loan originations “were rated AA-B, increasing by approximately 1.6% month-over-month.” Average loan… Read More

Lumio, a Fintech App for Growing Wealth on Autopilot, Secures £311,000 via Crowdccube

Lumio, which is focused on building a “hyper-personalized” finance app for people to grow their money on autopilot, has secured 155% (£311,594) of its £200,000 target via Crowdcube from 457 investors (at the time of writing) with 7 days left in the sale. Lumio reports… Read More

Online Marketplace Lender Prosper Releases Performance Update for June 2022

Prosper recently shared their performance data from the Prosper Portfolio for June 2022. Highlights from the Prosper Performance Update – June 2022 are as follows: In June, approximately 57% of loan originations “were rated AA-B, remaining stable month-over-month.” The average loan size in June “decreased… Read More

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