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Bitcoin and Crypto

SoFi Launches No-Fee Cryptocurrency Purchases for Direct Deposit Members

SoFi | March 25, 2022

SoFi Technologies, Inc. (“SoFi”), the digital personal finance company, today announced members will now be able to invest part of every direct deposit into cryptocurrency¹ with zero fees². This feature builds on SoFi’s robust offerings for Checking and Savings³ accounts, which already includes no account or overdraft fees, up to two-day early paycheck⁴ and an industry-leading 1.00% annual percentage yield (APY).⁵ Members will be able to set a recurring purchase⁶ for the cryptocurrency of their choice with each paycheck for no purchase fee, investing either by dollar amount or percentage of their deposit, into one of 30 coins. This feature is currently live to all members with both a SoFi Invest®⁷ crypto account and SoFi Checking and Savings account.

Crypto investing is rising rapidly. In the last year alone, SoFi doubled the number of investors setting up automatic, recurring crypto purchases, By adding the ability for members to automate crypto purchases right from their paycheck, we’re making it easier than ever for our members to customize how they manage their spending, saving, and investing all in one place to help them get their money right.”

Anthony Noto, CEO of SoFi.

Alongside no-fee crypto purchasing, SoFi has launched a new online educational center to explain the ins and outs of cryptocurrency to investors. The new center is an ongoing resource to both crypto newbies and seasoned veterans alike throughout their investing journey.

This product is the latest expansion of SoFi’s offerings to make it simpler to get started with cryptocurrency investing, including its offering to redeem SoFi Credit Card⁸ points directly into cryptocurrency. These features were created to allow SoFi members to invest when and how they want, all in the same app they can manage their credit card, bank accounts and investments.

About SoFi
SoFi helps people achieve financial independence to realize their ambitions. Our products for borrowing, saving, spending, investing and protecting give our over three and a half million members fast access to tools to get their money right. SoFi membership comes with the key essentials for getting ahead, including career advisors and connection to a thriving community of ambitious people. SoFi is also the naming rights partner of SoFi Stadium, home of the Los Angeles Chargers and the Los Angeles Rams.

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Financial Management, Payments

CSI Launches Instant Payments Capabilities through the FedNow Service with Illinois-Based INB, N.A. as Early Adopter

Businesswire | July 21, 2023

CSI, a leading provider of end-to-end fintech and regtech solutions, announced today its instant payments offering is live through the Federal Reserve’s FedNowSM Service. Enrollment is available now for CSI’s NuPoint® and Meridian core platform customers in line with the FedNow Service’s launch. The FedNow Service is a new payment infrastructure that allows U.S. financial institutions (FIs) of all sizes to provide safe and efficient instant payment services. FIs that adopt the service can provide their account holders with instant access to deliver and receive transactions year-round, including holidays. “Instant payments will play a crucial role in how financial institutions attract and retain customers,” said Linda Fischer, CSI’s chief operating officer. “In this evolving economic environment, account holders expect their banks to facilitate instant payment processing, which requires expanded technological capabilities. The FedNow Service is the necessary foundation on which CSI is building the tools financial institutions need to support their account holders.” INB, N.A., headquartered in Springfield, Illinois, has already enrolled in the FedNow Service through CSI. “It was critical for us to engage early with the FedNow Service. Doing so allows us to develop a deep knowledge of the network and methodically evaluate both the opportunities and the risks, so we can improve our capabilities over time while protecting our clients,” said Mark Donovan, SVP and chief operating officer at INB, N.A. “We’re excited to enhance our payments offerings and believe our disciplined approach in collaboration with CSI will enable us to quickly deliver value to our account holders.” The FedNow Service’s phase-one rollout provides baseline instant payments functionality to support a range of use cases, including high-demand features such as account-to-account (A2A) transfers and bill pay. In addition, banks can join as “receive-only” entities, which allows them to receive and post payments through the service’s real-time settlement process. “We’re encouraging banks to adopt the FedNow Service immediately,” continued Fischer. “Receiving transactions, at a minimum, is an effective way for banks to embrace the future of payments and allow account holders to seamlessly accept funds from wallet downloads, account transfers and more. As the network’s capabilities grow, CSI will work closely with customers to ensure they remain at the forefront of the modern payments landscape.” About CSI As a forward-thinking technology partner, Computer Services, Inc. (CSI) delivers fintech, regtech and cybersecurity solutions to financial institutions and corporate customers, both foreign and domestic. In addition to its reputation for providing expert service, CSI focuses on propelling crucial technology advancements, accelerating speed-to-market and deploying solutions for fraud and anti-money laundering, account origination, small-to-medium businesses and treasury management, managed IT services and cybersecurity, real-time payments, open banking, Banking as a Service and more. From top global brands to community financial institutions across the nation, CSI delivers agile technology to its partners that’s designed to accelerate their growth and maximize their success. For more information, visit csiweb.com.

Payments, Trading Systems

Nuvei offers APAC’s online traders instant cash-outs via Mastercard Send™

GlobeNewswire | August 31, 2023

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Financial Management, Digital Banking

First Citizens' Federal Credit Union Elevates Member Experience with Account Opening and Digital Banking Powered by Narmi

PRWeb | August 18, 2023

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