Categories: Digital-First Banking

Today In Digital-First Banking: ClearBank Unveils Multicurrency Accounts; LoanDepot Eyes IPO

In today’s top news in digital-first banking, ClearBank has begun offering multicurrency bank accounts through an application programming interface (API), and LoanDepot is considering going public. Plus, EVO Payments Inc. has rolled out EVO Express Deposit push payments technology.

ClearBank Introduces Multicurrency Bank Accounts

ClearBank, a cloud-based clearing bank, has started to provide multicurrency bank accounts via an API. The financial institution will let users access more than 30 multicurrency accounts starting in Q4 2020. Clients will have the capability to “seamlessly” move money, and foreign exchange rates will be based on interbank pricing.

Mortgage Lender LoanDepot Looks Toward $15B IPO

LoanDepot is considering going public five years after scuttling plans to do so. The California-based lender, which provides mortgages and other direct-to-consumer debt, has reportedly had discussions with possible investors for an offering that could occur in 2020. LoanDepot, which was started in 2010, refers to itself as the country’s second-biggest nonbank lender. The company’s nationwide labor force of over 8,000 assists more than 25,000 clients on a monthly basis.

EVO Rolls Out Express Deposit B2B Push Payments With Visa Direct

EVO Payments Inc. launched its EVO Express Deposit real-time push payments offering, which is enabled by Visa Direct, to assist retailers with more expedient access to money. The service allows qualifying American merchants to get funds for card transactions in real time, with actual availability depending on the location and the receiving financial institution.

Facebook's Libra Hires HSBC Veteran as Managing Director

The Libra Association has tapped James Emmett to be the Libra Networks' managing director. In the past, Emmett served as the top executive of HSBC Bank plc and Europe, where he was responsible for the UK Wholesale Bank of HSBC and operations throughout Sub-Saharan Africa, Bermuda and Continental Europe. The Libra Association, which rolled out in June of last year, refers to itself as an “independent member organization.”

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The How We Shop Report, a PYMNTS collaboration with PayPal, aims to understand how consumers of all ages and incomes are shifting to shopping and paying online in the midst of the COVID-19 pandemic. Our research builds on a series of studies conducted since March, surveying more than 16,000 consumers on how their shopping habits and payments preferences are changing as the crisis continues. This report focuses on our latest survey of 2,163 respondents and examines how their increased appetite for online commerce and digital touchless methods, such as QR codes, contactless cards and digital wallets, is poised to shape the post-pandemic economy.