Why Bank of America’s Erica Cannot Help with Complex Transactions
Bank of America’s virtual assistant Erica might be able to alert users of double charges in the future, Bank Innovation has learned. In the meantime, Erica still has a long way to go before it could...
View ArticleIBM Signs On to Sponsor Bank Innovation Ignite
IBM, one of the world’s largest technology companies, has agreed to sponsor Bank Innovation Ignite, which explores new ideas and technologies needed to push banking forward. Bank Innovation Ignite,...
View ArticleApple Pay Trending Up as Target, Other Retailers Add Payment Option
Apple Pay was trending across social media today on news the payment option will soon be accepted at Target, Taco Bell and other major U.S. retailers. According to Apple, 74 of the top 100 U.S....
View ArticleCapital One Said to Buy Walmart Card Portfolio, Zero In on Digital Collaboration
Capital One Financial has reportedly acquired Walmart's card receivables, the bank's chairman and CEO, Richard Fairbank, said yesterday. Terms of the transaction were not disclosed. After touting the...
View ArticleFIs Hiring Customer Experience Teams, But What Are They?
Demand for a combination of speed, simplicity, security and convenience in banking services has financial institutions thinking more about customer experience, particularly in a digital sense, and...
View ArticleSecond Major Bank to Add Fees to Cover the Cost of Realtime Payments
A second major bank will join PNC Bank and add fees to cover expenses related to realtime payments. The advent of realtime payments is expected to significantly reduce the money banks make from delayed...
View ArticleRoyal Bank of Canada to Add Subscription Monitoring to Nomi, Its PFM Tool
Royal Bank of Canada will add subscription monitoring and tracking to its AI-driven financial management platform Nomi, Bank Innovation has learned. "We have insights that remind clients about...
View ArticleCross River Bank’s Phillip Goldfeder to Join Bank Innovation Ignite
Phillip Goldfeder, senior VP of public affairs at Cross River Bank, is speaking at Bank Innovation Ignite 2019. Goldfeder will be speaking on the alternative lending panel titled “New Scoring Models,...
View ArticleCould a Banking Virtual Assistant Become a Robo-Advisor?
Financial technology provider Personetics is building robo-advisor capabilities into its AI-based PFM tool offering. This new feature will allow banks to offer their customers the valuable product of...
View ArticleUmpqua Sees Cost Reductions with Tech-Driven NextGen Strategy
Umpqua Holdings Corporation’s strategic plan to boost profitability and simplify operations by 2020, called NextGen, appears to be performing above expectations, according to the bank’s fourth-quarter...
View ArticleZelle to Add 200 FIs and Finastra Partnership in 2019
Bank-backed Zelle will offer its P2P service to core processor technology provider Finastra this year, Bank Innovation has learned. This move is an important part of Zelle's onboarding strategy. "Our...
View ArticleJPMorgan Says Blockchain Is Making Progress Outside Crypto
It may take a few years for blockchain’s impact to be felt meaningfully, but it will provide some advancements in certain areas even as cryptocurrencies falter, according to JPMorgan Chase & Co....
View ArticleApple Pay Helps Bolster Tech Giant’s Services Revenue Gains
Apple’s mobile payment service Apple Pay helped the company’s services business revenue grow 19% year-over-year to reach an all-time high of $10.9 billion in the first quarter of 2019. Apple Pay...
View ArticleCatch the Early Bird Rate for Bank Innovation Ignite Before It Flies Away!
Interested in joining us for Bank Innovation Ignite 2019 on March 11-12 at the Hyatt Olive 8, Seattle? You’d better hurry! Early registration ends this Friday, February 1 at 11:59 PM. Register here to...
View ArticleAlly Financial Has Millennials to Thank for Its Impressive Retail Deposit Growth
Ally Financial Inc.’s robust marketing strategy for its retail bank has paid off, as the bank today reported that half of its new retail customers were millennials. Of Ally Financial’s 230,000 new...
View ArticleFacebook’s Payments Revenue Soars 42%
Payments revenue at Facebook is up — way up. The company’s "payments and other fees" category banked a record $274 million in the fourth quarter of 2018, compared with $193 million in the same quarter...
View ArticleVenmo’s Instant Cashout Option to Create Revenue for PayPal in 2019
PayPal finally anticipates monetizing Venmo in 2019, nearly six years after acquiring the P2P service. Venmo's revenue run-rate is over $200 million for 2019, PayPal CEO Dan Schulman said in the...
View ArticleIs Apple Pay Trying To Do Away with the Point of Sale?
Apple envisions an Apple Pay beyond its current role at the point of sale and P2P. The Cupertino tech giant is already looking to embed itself further in retail by pushing for NFC (near field...
View ArticleAs Amazon’s Alexa and Cloud Grow, Will Voice and Cloud-Based Banking Follow?
E-commerce giant Amazon mentioned its cloud computing platform Amazon Web Services, or AWS, 58 times, its virtual assistant Alexa 25 times, and retail just once in its earnings release for the fourth...
View ArticleConsumers Get Comfortable Applying for Loans on Mobile Apps, Report Finds
As consumer trust in financial apps continues to rise more customers are comfortable using mobile banking apps for complex transactions such as loan and mortgage applications: one report finds. A...
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