Today In Digital-First Banking: Revolut Introduces ‘Pockets’ Feature; Robinhood Markets In Discussions With Goldman On Potential IPO

In today’s top news in digital-first banking, U.K. FinTech Revolut has introduced its Pockets tool, while Robinhood Markets is reportedly working with Goldman Sachs for its public offering preparations. Plus, Wells Fargo’s CEO believes the U.S. economy will rebound quickly once COVID-19 vaccines can reach wide swathes of the country.

Revolut’s ‘Pockets’ Tool Aims To Help People Organize Payments

Revolut, the British FinTech, has unveiled Pockets, a new organizational technology meant to assist individuals with organizing their payments and supervise their spending more effectively. “We understand how difficult it is to stay on top of all your various bills and subscriptions,” Revolut Head of Savings Marsel Nikaj said in an announcement, noting that money management with Pockets is simplified to free individuals from “worrying about missing a payment.”

Robinhood In Talks With Goldman On Possible 2021 IPO

Robinhood Markets is reportedly working with Goldman Sachs for its initial public offering (IPO) preparations. The public offering could reportedly come out in 2021, according to sources in a published report who noted that the precise timing would subject to market conditions. Robinhood was valued at $11.7 billion in its September private fundraising round.

Wells Fargo’s Scharf Predicts Rapid Economic Rebound After Vaccines Are Out

Wells Fargo Chief Executive Charlie Scharf believes the American economy will bounce back expediently once coronavirus vaccines can reach broad swathes of the nation. “It’s certainly quite possible that you’ll see a very quick recovery as the vaccines get rolled out, given all the pent-up demand that exists,” Scharf said at a virtual banking conference.

Blackhawk, Mastercard Roll Out Charitable Prepaid Collection

Global branded payments provider Blackhawk Network has launched its Giving Good Prepaid Mastercard with a release that encompasses five options that benefit charitable groups. Blackhawk Network will provide a charitable contribution that is equal to 3 percent of the card’s initial loaded value to the charitable partner on the card.