Connect with us

Technology

Auriemma Group Uncovers Whether Stored Value Accounts are a Replacement to Traditional Banking

Published

2 years ago

on

The rapid evolution of FinTech solutions continues to reshape consumer perceptions of banking, with stored value accounts (SVAs) emerging as a potential competitor to traditional banking accounts and cards. Auriemma Group’s latest issue of The Payments Reports uncovers positive sentiments around SVAs, underscoring their role in the financial ecosystem and raising questions about their long-term viability as a banking alternative.

NEW YORK, Nov. 26, 2024 /PRNewswire-PRWeb/ — The rapid evolution of FinTech solutions continues to reshape consumer perceptions of banking, with stored value accounts (SVAs) emerging as a potential competitor to traditional banking accounts and cards. Auriemma Group’s latest issue of The Payments Reports uncovers positive sentiments around SVAs, underscoring their role in the financial ecosystem and raising questions about their long-term viability as a banking alternative.

While stored value accounts offer benefits like lower fees and faster transactions, traditional banks deliver stability, security, and trust—advantages that consumers continue to value.

SVAs offered by providers like PayPal and Venmo allow consumers to preload or receive funds and use them for a variety of transactions. Auriemma’s research shows that 61% of debit cardholders view SVAs as at least complementary to traditional banking, while 31% believe these accounts could replace at least some banking functions. Notably, 8% feel SVAs could entirely replace traditional banking services.

“Stored value accounts represent an important evolution in financial tools, but the collapse of Synapse underscores the risks of fintech intermediaries not covered by the FDIC,” says Jonathan O’Connor, Senior Manager of Research at Auriemma Group. “While stored value accounts offer benefits like lower fees and faster transactions, traditional banks deliver stability, security, and trust—advantages that consumers continue to value.”

What Can Traditional Banks Do?

SVAs are causing a modest stir among cardholders. Less than three-in-ten say they would be likely to use the option if offered by a FinTech provider. However, as SVAs grow in popularity, traditional banks can differentiate themselves by doubling down on their strengths and addressing evolving consumer needs. Auriemma’s research highlights several strategies banks can use to endear themselves to current and potential customers:

Building Trust: Traditional banks should emphasize their strong track record of security—including FDIC backing—and fraud prevention. Providing clear, transparent policies and educating customers about safeguards can build trust that SVAs may not yet fully inspire.
 Enhanced Digital Experiences: Streamlining mobile and online banking interfaces can help banks compete with the tech-first approach of FinTechs. User-friendly apps with integrated budgeting tools, instant payments, and easy account management could make a significant difference.
 Personalized Financial Products: Banks can leverage their broad customer data to offer tailored financial products, such as personalized savings plans or rewards programs that align with individual spending habits.
 Bundled Offerings: By packaging SVAs with more traditional banking services—like high-yield savings accounts, credit cards, and loans—banks can create holistic financial solutions that FinTechs may struggle to match.

Opportunities for Growth

Most of those who have used a SVA with a FinTech provider say they would likely use more of that provider’s products, if available. This highlights the possibility of expansion SVAs create for those who use them. While largely benefiting FinTechs hoping to expand into other financial services, SVAs could also be a gateway for traditional banks hoping to deepen their relationship with new and existing customers.

“Traditional banks have the advantage of deep customer relationships, established financial stability, and the trust that comes with rigorous regulatory oversight. By leaning into these strengths and innovating alongside FinTechs, banks can remain central to their customers’ financial lives,” says O’Connor.
“Our research shows that the future of banking will likely blend the reliability of traditional institutions with the agility and accessibility of modern FinTech solutions, creating a dynamic ecosystem that meets a diverse set of consumer needs.”

Media Contact

Jonathan O’Connor, Auriemma Group, 1-646-437-6116, jonathan.oconnor@acg.net, www.auriemma.group

View original content:https://www.prweb.com/releases/auriemma-group-uncovers-whether-stored-value-accounts-are-a-replacement-to-traditional-banking-302316988.html

SOURCE Auriemma Group

Related Topics:
Continue Reading

Technology

Lexar Launches the Professional SILVER GO microSDXC™ UHS-I Card

Published

15 minutes ago

on

October 22, 2026

By

V30 rating provides seamless 4K 60fps recording

SAN JOSE, Calif., Oct. 22, 2026 /PRNewswire-PRWeb/ — Lexar, a global leader in memory and storage, today announced the new Lexar® Professional SILVER GO microSDXC™ UHS-I Card, a versatile storage solution designed for videographers, gamers and creators who need reliable, high-performance storage across their favorite portable devices with microSD slots. Combining fast data transfers, support for high-quality video capture and durable construction, the new card helps users spend less time managing storage and more time creating and capturing their next adventure.

“Gamers and creators are pushing their hardware harder than ever, from massive game libraries to hours of 4K footage. We designed the Lexar SILVER GO so their storage is never the thing holding them back.”

“Gamers and creators are pushing their hardware harder than ever, from massive game libraries to hours of 4K footage. We designed the Lexar SILVER GO so their storage is never the thing holding them back,” said Lizette Lynch, Director of Brand Marketing at Lexar North America. “With a combination of fast transfers, reliable performance and rugged durability, the SILVER GO gives users the speed and storage they need to capture, create and play with confidence.”

The Lexar SILVER GO microSD Card offers top-notch performance of max read speeds of 250MB/s and max write speeds of 180MB/s1. Users can reach max transfer speeds when pairing the cards with the Lexar microSD/SD Reader. With a V30 Video Speed Class rating, the Lexar SILVER GO microSD Card delivers smooth, uninterrupted 4K 60fps Ultra HD recording and keeps pace with rapid-fire burst shooting. The Lexar SILVER GO microSD Card is optimized for action cameras, drones and handheld consoles including DJI, Insta360, GoPro, Nintendo Switch, and Steam Deck2, to name a few.

Available in capacities 64GB-512GB, the SILVER GO microSDXC is built for durability, with features such as IPX7 waterproof, wearproof, drop-proof, temperature-proof, X-ray-proof, shockproof, magnetic-proof, and vibration resistance. The free Lexar Recovery Tool gives users peace of mind, helping users attempt to recover accidentally deleted files. Separately, Lexar products are backed by a limited lifetime warranty, subject to applicable terms and conditions.

The Lexar SILVER GO microSDXC is available through Amazon, with the 512GB available at an MSRP of $144.99, 256GB available at an MSRP of $84.99, 128GB available at an MSRP of $54.99, and 64GB available at an MSRP of $34.99. For more information, visit americas.lexar.com.

Lexar Professional SILVER GO microSDXC™ UHS-I Card Availability:

LINK: https://americas.lexar.com/product/lexar-professional-silver-go-microsdxc-uhs-i-card/

1 Speeds based on internal testing. Actual performance may vary.

2 All product and company names, and brands mentioned are trademarks or registered trademarks of their respective owners. Their use is for identification purposes only and does not imply endorsement, sponsorship or affiliation with Lexar.

About Lexar

Founded in California in 1996, Lexar has dedicated 30 years advancing reliable, high-performance memory solutions and now operates more than 100,000 sales channels across six continents, serving over 100 million users in more than 70 countries. Its award-winning portfolio, from memory cards and SSDs to DRAM and mobile storage, continues to empower creators, professionals, and everyday users worldwide. For more information, please visit americas.lexar.com.

Media Contact

Media Team, Lexar, 1 6263720725, lexar@boltpr.com, https://americas.lexar.com/

View original content to download multimedia:https://www.prweb.com/releases/lexar-launches-the-professional-silver-go-microsdxc-uhs-i-card-302916816.html

SOURCE Lexar

Continue Reading

Technology

Lexar Launches the Professional SILVER GO microSDXC™ UHS-I Card

Published

15 minutes ago

on

October 22, 2026

By

V30 rating provides seamless 4K 60fps recording

SAN JOSE, Calif., Oct. 22, 2026 /PRNewswire-PRWeb/ — Lexar, a global leader in memory and storage, today announced the new Lexar® Professional SILVER GO microSDXC™ UHS-I Card, a versatile storage solution designed for videographers, gamers and creators who need reliable, high-performance storage across their favorite portable devices with microSD slots. Combining fast data transfers, support for high-quality video capture and durable construction, the new card helps users spend less time managing storage and more time creating and capturing their next adventure.

“Gamers and creators are pushing their hardware harder than ever, from massive game libraries to hours of 4K footage. We designed the Lexar SILVER GO so their storage is never the thing holding them back.”

“Gamers and creators are pushing their hardware harder than ever, from massive game libraries to hours of 4K footage. We designed the Lexar SILVER GO so their storage is never the thing holding them back,” said Lizette Lynch, Director of Brand Marketing at Lexar North America. “With a combination of fast transfers, reliable performance and rugged durability, the SILVER GO gives users the speed and storage they need to capture, create and play with confidence.”

The Lexar SILVER GO microSD Card offers top-notch performance of max read speeds of 250MB/s and max write speeds of 180MB/s1. Users can reach max transfer speeds when pairing the cards with the Lexar microSD/SD Reader. With a V30 Video Speed Class rating, the Lexar SILVER GO microSD Card delivers smooth, uninterrupted 4K 60fps Ultra HD recording and keeps pace with rapid-fire burst shooting. The Lexar SILVER GO microSD Card is optimized for action cameras, drones and handheld consoles including DJI, Insta360, GoPro, Nintendo Switch, and Steam Deck2, to name a few.

Available in capacities 64GB-512GB, the SILVER GO microSDXC is built for durability, with features such as IPX7 waterproof, wearproof, drop-proof, temperature-proof, X-ray-proof, shockproof, magnetic-proof, and vibration resistance. The free Lexar Recovery Tool gives users peace of mind, helping users attempt to recover accidentally deleted files. Separately, Lexar products are backed by a limited lifetime warranty, subject to applicable terms and conditions.

The Lexar SILVER GO microSDXC is available through Amazon, with the 512GB available at an MSRP of $144.99, 256GB available at an MSRP of $84.99, 128GB available at an MSRP of $54.99, and 64GB available at an MSRP of $34.99. For more information, visit americas.lexar.com.

Lexar Professional SILVER GO microSDXC™ UHS-I Card Availability:

LINK: https://americas.lexar.com/product/lexar-professional-silver-go-microsdxc-uhs-i-card/

1 Speeds based on internal testing. Actual performance may vary.

2 All product and company names, and brands mentioned are trademarks or registered trademarks of their respective owners. Their use is for identification purposes only and does not imply endorsement, sponsorship or affiliation with Lexar.

About Lexar

Founded in California in 1996, Lexar has dedicated 30 years advancing reliable, high-performance memory solutions and now operates more than 100,000 sales channels across six continents, serving over 100 million users in more than 70 countries. Its award-winning portfolio, from memory cards and SSDs to DRAM and mobile storage, continues to empower creators, professionals, and everyday users worldwide. For more information, please visit americas.lexar.com.

Media Contact

Media Team, Lexar, 1 6263720725, lexar@boltpr.com, https://americas.lexar.com/

View original content to download multimedia:https://www.prweb.com/releases/lexar-launches-the-professional-silver-go-microsdxc-uhs-i-card-302916816.html

SOURCE Lexar

Continue Reading

Technology

Racquel Oden to Receive The ELC’s 2026 Achievement Award for Leadership in Financial Services and Expanding Opportunity

Published

15 minutes ago

on

October 22, 2026

By

HSBC executive recognized for a career building businesses, developing talent, and widening access to wealth and financial prosperity

WASHINGTON, Oct. 22, 2026 /PRNewswire/ — The Executive Leadership Council (ELC) will honor Racquel Oden, HSBC’s U.S. Head of International Wealth and Premier Banking and Private Banking, with the 2026 ELC Achievement Award at The ELC Recognition Gala on October 30, 2026, at the Gaylord National Resort & Convention Center in National Harbor, Maryland.

With more than 25 years of financial services experience, Oden has built a career at the intersection of business growth, client leadership, and talent development. At HSBC, she leads businesses serving affluent and globally connected clients in the United States, bringing a client-first approach to one of the world’s largest financial services organizations.

“Racquel brings a rare combination of commercial discipline and genuine investment in people,” said Michael C. Hyter, President and CEO of The Executive Leadership Council. “She understands that leadership is measured in business results, certainly, but also in the people you prepare for greater responsibility and the doors you make easier for others to open. Her career reflects the kind of enterprise leadership The ELC has championed for 40 years.”

Oden’s career spans some of the world’s most prominent financial institutions. Prior to HSBC, she served as a Managing Director at JPMorgan Chase, where she led Network Expansion and held leadership roles across national sales, Consumer Banking and Wealth Management. She previously spent eight years at Merrill Lynch in several Managing Director roles and more than a decade at UBS in senior leadership positions. She began her Wall Street career in equity trading at Morgan Stanley.

Throughout that journey, Oden has described her leadership philosophy as one rooted in service and in helping people become the strongest versions of themselves. That philosophy also informs her work to expand access to wealth, opportunity, and financial fluency.

Her leadership extends across corporate and civic institutions. Oden serves on the corporate board of National Life Group and chairs the Board of Directors of the Thurgood Marshall College Fund. She also serves on the boards of the Apollo Theater and the New York City Police Foundation.

Her honors include the National Urban League’s 2026 Women of Power award and recognition among Barron’s Most Influential Women in Finance, American Banker’s Most Powerful Women in Finance and Forbes’ 50 Over 50.

Oden holds a Bachelor of Arts from James Madison University and an MBA from Hampton University.

The ELC Achievement Award recognizes corporate executives whose careers reflect exceptional professional accomplishment, leadership and impact. Oden joins a distinguished group of past ELC honorees whose influence has reached across companies, industries and communities.

The ELC Marks 40 Years of Developing Leaders
Oden will receive the Achievement Award during a milestone year for The Executive Leadership Council. Founded in 1986, The ELC is celebrating its 40th anniversary in 2026, marking four decades of developing leaders who perform at the highest levels of business and strengthening the leadership pipeline that sustains that excellence.

The 2026 ELC Recognition Gala will take place Friday, October 30, at the Gaylord National Resort & Convention Center in National Harbor, Maryland. Hosted by Emmy Award-winning television journalist and Entertainment Tonight co-host Kevin Frazier, the black-tie celebration will feature a special musical performance by 10-time GRAMMY Award winner Chaka Khan.

The Gala is the signature fundraising event of The ELC’s 2026 Gala Week, October 28–31, which will bring together more than 3,000 members, students, senior executives and business leaders as The ELC celebrates its 40th anniversary.

Gala Week is designed to span the leadership journey. The Honors Symposium connects ELC Scholars with senior executives and hiring managers as they prepare to enter the workplace. The Mid-Level Managers’ Symposium develops high-performing professionals preparing for greater leadership responsibility. Corporate Board Navigator helps ELC members prepare for corporate board service.

ABOUT THE ELC

The Executive Leadership Council is an independent nonprofit founded in 1986 that opens channels of opportunity for the development of global executives to positively impact business and our communities. Learn more at elcinfo.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/racquel-oden-to-receive-the-elcs-2026-achievement-award-for-leadership-in-financial-services-and-expanding-opportunity-302917161.html

SOURCE The Executive Leadership Council

Continue Reading

Trending