Traditional FIs Should Feel Threatened by Challenger Banks, Report Says
Thanks to a large unbanked population and growing importance of the millennial customer, the digital-first bank business model is spreading not just in developed economies but also emerging markets...
View ArticleCan Fintech Pave a Way for Financial Inclusion?
Federal Reserve Governor Lael Brainard addressed barriers to financial inclusion at a conference hosted by the Boston Fed and the Aspen Institute in Boston on Oct. 17. “The combination of smartphone...
View ArticleCB Insight’s Top 250 Fintechs Made 186 Deals Worth $24B This Year
CB Insights on Monday named its 2018 Fintech 250, a list of what the research firms considers the most promising fintech companies globally. Nearly half the companies are new to the Fintech 250 list,...
View ArticleThe Struggles of Banks as Technology Companies
LAS VEGAS -- It's a common refrain from bank CEOs: "My bank is a technology company." But the reality is much rarer. JPMorgan Chase is showing it takes fintech seriously by building (or buying) a...
View ArticleNew Lending Product Aimed at Broadening Target Audience of Barclays U.S.
If there’s one area that fintech companies are giving banks tough competition in the U.S. market, it’s the lending space. With easy application processes, quick decisioning and seamless movement of...
View ArticleZelle Outpacing Venmo in P2P Money Transfers
Two peer-to-peer payments platforms competing for market share and consumer loyalty posted big gains in their 3Q18 earnings reports. While the third quarter was kind to both Zelle and Venmo, it’s...
View ArticleCapital One Hopes to Score Big with Walmart Partnership
Walmart seems to be popular among financial services players these days. First PayPal and now Capital One have noted the significance of their partnerships with the retailer in recent earnings calls....
View ArticleBank of the West Adds ATMs for Young Customers on the Move
Bank of the West recently added 143 ATMs across the Denver and Sacramento metro areas through an agreement with ATM operator Cardtronics. One target? Millennials, actually. The San Francisco-based bank...
View ArticleZelle Considers a Better Way for Digital Gifting
Digital gifting can be drab and cold, arriving without commentary, not even a "Here's 50 bucks, enjoy it." Niche startups such as Ballooning Nest Eggs are taking this on, but the day-to-day,...
View ArticleCan QR Codes Make It in America? SwiftPass Thinks So
The scale of mobile payments in China staggers the Western imagination. In 2017, $15.4 trillion in mobile payments were processed, 54% by Alipay, and 39% by Tencent’s WeChat Pay. By the most generous...
View ArticleBankers Believe Realtime Will Give Their FIs Competitive Advantage
Most banking executives believe realtime payments will give banks a competitive advantage, according to a recent Finextra report. The report, titled "Payments Transformation: Jostling for Position in...
View ArticleMovers and Shakers: Fall 2018 Notable Hires and Departures
Autumn is upon us, trees are changing colors, and executives are changing jobs. The job market for digital banking is thriving. JPMorgan plans to hire thousands of people for its technology and digital...
View ArticleWhy Contactless, Not Cash, is King in Canada
Contactless, not cash, is king in Canada. Brian Lang, president of Mastercard in Canada, said at a closed event in Toronto this week that 50% of transactions in the country are conducted via...
View ArticleColorado Just Elected a Tech-Savvy Governor Who Takes Blockchain Seriously
Amid a dizzying night of political drama, a bright spot appeared for the fintech and cryptocurrency communities -- the election of Jared Polis (D) to Governor of Colorado. Polis is known for many...
View ArticleAfter Another Record Quarter, Green Dot Sees Opportunity in Small Business
Green Dot, the technology company with a banking license, reported another strong quarter, and CEO Steve Streit noted the company sees significant growth opportunity in the small business space for its...
View ArticleSquare Hopes to Grab Significant Market Share with New Payment Terminal
Square Inc. saw a payment volume of $17.4 billion in the third quarter this year, almost a 32% year-over-year increase. But, according to CEO Jack Dorsey, the company’s two greatest accomplishments...
View ArticleDo Community Banks Really Need Zelle?
Bank-backed payment service Zelle crossed $32 billion in transactions in the last quarter, almost twice that of Venmo, but the P2P provider is not as omnipresent among banks as one would expect it to...
View ArticleMUFG, Banco Bradesco to Use Blockchain for Cross-Border Payments
MUFG Bank and Banco Bradesco will use distributed ledger technology from Ripple, a San Francisco-based software vendor specializing in global real-time settlements, to create a new cross-border payment...
View Article3 Notable Fintech Funding Rounds in November
Venture-backed fintech funding saw a dip in value and deals globally in the third quarter, compared with the record high 2Q quarter, according to a CBInsights report, with a total of $5.64 billion...
View ArticleZelle Says It Welcomes Community Banks
Last week, Bank Innovation wrote about the difficulty smaller banks claim to experience offering their customers the P2P platform Zelle. The smaller financial institutions voiced concerns of long waits...
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