New banking products

Here are some new banking products that have been introduced or are gaining popularity:

  1. Digital-only banks: Banks that operate solely online, offering mobile banking apps and digital services, such as Revolut, N26, and Monzo.
  2. Neobanks: Digital-only banks that offer a range of financial services, including savings accounts, credit cards, and loans, such as Chime, Simple, and Current.
  3. Cryptocurrency-based banking: Banks that offer cryptocurrency trading, storage, and investment services, such as Coinbase and Robinhood.
  4. Mobile payment apps: Apps that allow users to make payments, transfer money, and store loyalty cards, such as Apple Pay, Google Pay, and Samsung Pay.
  5. Digital wallets: Electronic wallets that allow users to store and manage their money, such as PayPal, Venmo, and Square Cash.
  6. Robo-advisors: Automated investment platforms that offer personalized investment advice and portfolio management, such as Betterment, Wealthfront, and Schwab Intelligent Portfolios.
  7. Peer-to-peer lending: Platforms that allow individuals to lend and borrow money directly, such as Lending Club and Prosper.
  8. Digital savings accounts: High-yield savings accounts that offer higher interest rates and lower fees, such as Ally Bank and Discover Online Savings Account.
  9. Credit cards with rewards: Credit cards that offer rewards, such as cashback, points, or travel miles, for specific purchases or categories, such as Chase Sapphire Preferred and Capital One Venture.
  10. Digital mortgage platforms: Online platforms that allow users to apply for and manage their mortgages, such as Quicken Loans and SoFi.
  11. Investment apps: Apps that allow users to invest in stocks, ETFs, and other securities, such as Robinhood, Fidelity, and E*TRADE.
  12. Digital insurance platforms: Online platforms that offer insurance products, such as health, life, and auto insurance, such as Lemonade and Metromile.
  13. Digital wealth management: Platforms that offer investment advice, portfolio management, and financial planning services, such as Personal Capital and LearnVest.
  14. Cryptocurrency-based loans: Platforms that offer loans collateralized by cryptocurrency, such as BlockFi and Celsius Network.
  15. Digital payment processing: Platforms that offer payment processing services for businesses, such as Stripe and Square.

These are just a few examples of the many new banking products that have been introduced in recent years. The banking industry is constantly evolving, and new products and services are emerging all the time.