Today In Digital-First Banking: FIS Fuels Rollout Of Quontic Bank Crypto Rewards Account; Aeldra Selects i2c To Power Private Banking Services

Today In Digital-First Banking: FIS Fuels Rollout Of Quontic Bank Crypto Rewards Account; Aeldra Selects i2c To Power Private Banking Services

In today’s top news in digital-first banking, FIS is working with Quontic Bank on the Bitcoin Rewards Checking Account, while Aeldra has chosen i2c Inc. to power its digital private banking offerings. Plus, Barclaycard is launching a Barclaycard Precisionpay Go system to let companies issue virtual cards for the online business expenses for employees. 

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    FIS Powers Launch Of Quontic Bank’s Bitcoin Rewards Account

    FIS, the bank software and payment technology firm, unveiled a collaboration with Quontic Bank on the Bitcoin Rewards Checking Account. The rollout makes Quontic “the first FDIC insured financial institution in the U.S. to go live with a Bitcoin Rewards debit card,” according to an announcement. In addition, financial services company NYDIG is collaborating with Quontic to offer the custody platform that will be harnessed to manage the crypto rewards.

    Aeldra Taps i2c To Enable Global Banking Services

    Aeldra, the California challenger bank, has selected i2c Inc. to fuel its online private banking offerings. The mobile bank is aiming to reach high-net-worth international customers that have household incomes in excess of $100,000. Aeldra’s U.S. resident and non-resident global customers can open a FDIC-insured U.S. account with a Global Mastercard Debit Card in a matter of minutes through a mobile device.

    Barclaycard Debuts New Virtual Card Platform

    Barclaycard is rolling out a Barclaycard Precisionpay Go system to enable firms to issue virtual cards for the online business expenditures of staffers. The new service, which is available to new and current Precisionpay clients, allows staffers to ask for cards to be delivered to their mobile phones so they can immediately make payments without having to travel to an office or be at their home desk.

    Goldman Sachs: Some 90 Pct. Of Businesses Have Depleted PPP Monies

    Small companies that Goldman Sachs recently polled indicated that small and mid-sized businesses (SMBs) very much require another iteration of Paycheck Protection Program (PPP) funding. Goldman recently ran a poll of firms that took part in the 10,000 Small Businesses initiative that helps to offer education and capital to entrepreneurs.


    Fifth Third: FinTech Platforms Drive Loan Growth Despite ‘Tepid’ Environment

    Fifth Third Bancorp saw its investments in tech-enabled products continue to pay off in the second quarter, Fifth Third Chairman, CEO and President Tim Spence said Thursday (July 17) during the company’s quarterly earnings call.

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      In commercial payments, the company’s investments in its Newline by Fifth Third embedded finance platform for enterprises led to 30% year-over-year revenue growth and an increase of more than $1 billion in commercial deposits connected to Newline services, Spence said.

      Fifth Third continued to see transactions migrate from legacy ACH to modern instant payment rails during the second quarter, Spence said.

      Rippling selected Newline to be their payments infrastructure provider, joining our existing roster of blue-chip FinTech customers,” Spence said.

      Fifth Third saw loan growth in its FinTech platforms, Provide and Dividend, Spence said.

      “In a quarter where uneven [commercial and industry (C&I)] loan demand and a soft housing market made loan growth tepid for the industry, our diversified loan origination platforms produced average loan growth of 5% over the prior year,” Spence said.

      The company’s loan growth reached its highest level in over two years during the quarter, according to a Thursday earnings release.

      Highlighting new additions to the bank’s digital services, Spence said Fifth Third partnered with digital estate planning platform Trust & Will to offer free wills to Fifth Third customers.

      When announcing this service in a May 19 press release, Fifth Third said it proactively addresses the concerns of a market in which 83% of Americans think a will is important, but only 31% have one in place.

      During the second half of the year, Fifth Third will begin to embed artificial intelligence-enabled functionality into its mobile app. Spence said during the call that this “should further improve the user experience and reduce volumes in higher-cost service channels.”

      From the second quarter of 2024 to the same quarter in 2025, Fifth Third saw its average active digital users increase from 3.07 million to 3.17 million and its average active mobile users rise from 2.32 million to 2.43 million, according to a presentation released Thursday in conjunction with the earnings call.

      The share of new consumer deposit accounts with digital originations rose from 22% to 28% over the past year, while the share of mortgage applications that were digitally assisted slipped from 98% to 97%, per the presentation.