How Startups Help Insurers and Banks in the Wake of Disasters Such as...
In the wake of Hurricane Florence, communities are struggling to rebuild, and banks, financial institutions, and insurance companies are at the center of this process. Giving tech, which facilitates...
View ArticleMillennials Prefer Venmo to Cash, Duh
A new report shows that millennials use Venmo more than they use ATMs as if there was any doubt that to this audience an app like Venmo is a prime method of payment. Rubiix, a social spending app that...
View ArticleIs Anyone Using Zelle’s Video Message Feature?
P2P payments service Zelle was once not too keen on social media, but its new video message feature might indicate a change of heart. The video feature, which is being marketed on Zelle's website seems...
View ArticleWestern Union Discovers New Ways for an Old Business
Aside from the theoretical mention of blockchain technology, there haven’t been many major changes in cross-border money movement technology. And when you’re a company that’s more than 165 years old,...
View ArticleNew Season, New Products from Square, N26, Credit Karma, and Newcomer Sila
It’s officially Fall, and financial services companies are taking to this new season with a fresh batch of new products and services. Payments company Square today launched Square Installments. As the...
View ArticleNew Entrant Tries to Crack Digital Gifting
Digital money movement is convenient, and works well for utilitarian scenarios like paying bills and reimbursing friends, but falls a bit flat for gifting. It lacks ceremony. It's cold. And children --...
View ArticleBank of America Mobile App Now Allows Seamless Connection to Merrill Edge
One of the biggest impediments for banks in acing customer service and user experience is being unable to seamlessly manage cross-product, cross-channel interactions. Bank of America is hoping to...
View ArticleH&M Invests $20 Million in Klarna to Improve the Retailer’s Payments Experience
Today the Swedish retailer H&M announced a $20 million investment in the payments company -- and as of June 2017, a fully licensed bank -- Klarna, which is also based in Sweden. The move...
View ArticleUnion Bank’s New Head of Digital Banking, Julie Demarigny, Talks Innovation
Not even a month has passed since Julie Demarigny, a veteran in digital entertainment industry having served Warner Bros. and Sony Music, has joined West Coast focused Union Bank as its head of digital...
View ArticleBusy Day for Circle As It Releases Trading App, Launches Research Arm
Payments company Circle launched a new mobile app today for its trading platform, Poloniex, which it acquired in February. Circle also launched a service for distributing information on...
View ArticleStandard Chartered and Huawei Roll Out Corporate Communication Tools for the IoT
Standard Chartered and telecommunications giant Huawei announced today they've jointly developed an internet of things (IoT) solution that could change how companies communicate with banks for...
View ArticleHow Bank of America Will Improve Erica, Its Virtual Assistant
Bank of America is proud of its virtual assistant, Erica, which has 3.5 million users and 11 million transactions within three months of its launch, Michelle Moore, head of digital banking at BofA,...
View ArticleWould Your Customers Switch to the Bank of Amazon?
It's safe to say most of the financial services world is curious to know if and when a "Bank of Amazon" will become a reality. The question banks are perhaps most anxious about is how will this impact...
View ArticleBank of America Improves in Mobile Users, But Falls Short on Digital Sales Goal
A few months ago, Dean Athanasia, president of consumer & small business at Bank of America, said his goal for the bank was to drive sales from digital channels up to 50% over the next 18 months....
View ArticleVenmo Hikes Instant Transfer Fee to Cash in on Realtime
Remember when P2P app Venmo added an instant transfer, but then said it would charge a $0.25 flat fee for it? Well, now Venmo users will be charged a 1% fee, which could mean more than its flat fee in...
View ArticleVirtual Banking Assistants Still Mostly Limited to Simple Transactions
Virtual banking assistants seem to be all the craze lately. Just ask Bank of America, whose Erica crossed 3.5 million users, or Capital One’s Eno which claims to have one of the highest user ratings...
View ArticleThe Future of Banking Is Mobile and ‘Mostly Cashless’
The people have spoken. The future of banking is mobile and cashless, or at least “mostly cashless." That’s according to Bank Innovation’s annual State of Banking Innovation survey for 2018. 146...
View ArticleConsumers Would Be Comfortable Using Google or Apple For Taking Out Loans,...
Banks need not fear large technology companies like Google or Apple taking their business. Digital banking continues to be the most convenient option for simple daily transactions, but branches are...
View ArticleFed Study: Noncash Payments Fraud Outpacing Growth Overall
Noncash payments fraud in the U.S. outpaced growth in noncash payments overall between 2012 and 2015, according to a Federal Reserve Payments Study released this week. The study’s survey of depository...
View ArticlePayPal Active Accounts Could Further Soar With Walmart Partnership
PayPal has added 9.1 million new active accounts surpassing 254 million net active users in 3Q18. And that number will likely grow significantly thanks to its Walmart partnership, through which PayPal...
View Article