The Bank of New York Mellon Corporation ( BNY Mellon ) has announced that it entered into a definitive agreement to acquire Archer , with the financial institution aiming to augment its offering
Access to emergency funds provides peace of mind, especially when many people find themselves scrambling to cover expenses. Given the needs of younger consumers, liquidity and cash flow issues are becoming increasingly important for financial institutions to address. Changing regulations offer financial institutions an opportunity to rethink how they are meeting these customer needs through offerings like overdraft protection and small-dollar lending. In a recent PaymentsJournal podcast, Jeff Burton, Vice President and General Manager at Fiserv, spoke with Brian Riley, Co-Head of Payments at Javelin Strategy & Research, about liquidity products that can keep these customers in the fold.Liquidity Affects Everyone In the past two years, just over half of consumers have needed access to short-term emergency funds to pay their bills. While lower-income consumers are more likely to need funds, nearly half those earning between $100,000 and $149,000 have also needed short-term emergency funds. It's not a question of wealth, but of available cash flow.For customers who maintain deposit relationships with financial institutions, liquidity is a key driver of success
Open Banking payments provider Trustly has entered into a strategic partnership with Fifth Third Bank 's Newline, an Embedded Payments platform, to augment the money movement landscape
