FinTech news in banking services category

By focusing on e-commerce, Shergill said Highbeam is able to provide a single financial view of the business, where cash is coming in and going out, and help entrepreneurs decide the right credit option and offer insights on common situations. Highbeam, a New York-based neobank built for people building e-commerce brands on marketplaces like Shopify and Amazon, raised $7 million in seed funding to continue developing banking tools that cater to these entrepreneurs’ needs. The one-year-old fintech startup, started by Samir Shergill and Gautam Gupta, provides banking features, access to transparent credit and cash management insights. Sustainable profit growth has become more important for brands, especially when e-commerce growth exploded during the pandemic and has pulled back some as stores reopened, Shergill said.

The story begins years ago when Root wanted to build new kinds of banking services. Co-founder and CEO Nick Root is a computer science graduate and former CTO, COO, CFO and CEO who did 12 years in the London banking industry before starting Intergiro.

American Express has launched its first all-digital consumer checking account, the company announced on Tuesday. The new offering, American Express Rewards Checking, is currently available for eligible U.S. Consumer Card Members. The launch comes as the emergence of digital banking services is causing traditional banks to enhance their digital strategies and offer more competitive banking \[…\]