Worldpay’s Tech Solutions Revenue Up 21%, Fueling Growth
Beating expectations, Worldpay reported total organic net revenue growth of 10% in the fourth quarter of 2018, aided largely by the payment processing firm’s technology solutions segment, which grew...
View ArticleKlarna Ups Revenue But Growth in Merchants Joining Startup Slows
Payments company Klarna Bank AB grew revenue by about a third in 2018, but operating income fell and the speed at which merchants are signing up to the platform slowed. Klarna, which recently turned to...
View ArticleLarger Sellers Account for 51% of Square’s Gross Payment Volume as...
Square Inc. saw gross payment volume increase 28% year-over-year to $23 billion in the fourth quarter of 2018. The payments processing company said growth was driven by larger sellers who accounted for...
View ArticleRob Guilfoyle, CEO of Abe AI, Joins Speaker Faculty of Bank Innovation Ignite
Rob Guilfoyle, CEO of Abe AI, will be speaking at Bank Innovation Ignite 2019 on March 11-12 in Seattle. Guilfoyle will be on the panel titled “The Future of Banking Experience,” where he will address...
View ArticlePlaid Team Multiplies as Sales Model Comes into Focus
Fintech Plaid is in massive-growth mode. By yearend, the company has plans to get to 600 employees from 300, Charley Ma, general growth manager at Plaid, said at a Meetup last night presented by Bank...
View ArticleCiti Venture Investing Head: ‘Financial Services is Becoming More Like Tech’
Strategic participation in fintech climbed in 2018, with 41% of all fintech financings containing either a corporate VC or strategic investor. This is up from 35% in 2017, and way up from 18% in 2013,...
View ArticleACI Worldwide Acquires Speedpay to Better Its Subscription-Based Payments...
Mobile bill presentation is at the heart of ACI Worldwide‘s $750 million all-cash acquisition of bill pay service Speedpay from Western Union announced on Thursday. “ACI has a strong e-Commerce space,...
View ArticleInherently High-Risk, Banks Seek To Tackle Cybersecurity Risks and Costs at Once
Increasing digitization and interconnectivity is driving a rising tide of inherent cyber risk that is particularly high for banks, with a total of $11.3 trillion in rated debt outstanding, according to...
View ArticleFintech Partnerships Excel in Improving Customer Experience for FIs, BI Poll...
Fintech partnerships provide the greatest value in creating a better customer experience, according to 30% Bank Innovation's February poll takers. Of the 90 poll-takers, 27 people responded with this...
View ArticleBank Innovation’s Top 3 Posts in February
With big-money deals, product rollouts, and a busy earnings season to boot, it is perhaps no surprise that a merger to potentially create the sixth-largest bank in the U.S. got the most attention from...
View ArticleBarclays to Merge BPay, Pingit Products as Banks Fend Off Apple
Barclays Plc is preparing to merge its wearable mobile payments product BPay with its more popular Pingit app, after it struggled to attract users. The two products currently require retail customers...
View ArticleMovers and Shakers: Notable March Hires in Fintech and Digital Banking
Growth is the name of the game for this month's notable hires in digital banking and fintech. On one hand, a major FI like Spanish bank Santander hired a former Google executive to create new products,...
View ArticleLow Checking Account Rates Give Neobanks a Competitive Edge
Digital-only banks have lower operational costs than traditional banks, which have both digital and physical branches. These traditional banks often charge customer fees as a way to make up for these...
View ArticleGen X and Boomers, Not Millennials, Drive P2P Adoption
Generation X and baby boomers, not millennials, are driving adoption of P2P services like Zelle, according to a survey conducted by Early Warning Services, the network operator of the P2P service. The...
View ArticleU.K. Fintech Lender OakNorth Makes Way to the U.S.
Fresh off a $400 million funding led by SoftBank, fintech lender OakNorth is close to establishing its first bank partnership in the U.S., which will also serve as its entry into the country, Bank...
View ArticlePayroll Fintech Gusto Hires Square’s Information Security Head as It Inches...
Online payroll company Gusto is scaling its security team, starting with the appointment of Square's former head of information security, Fredrick Lee, as its chief security officer. The move comes as...
View Article3 Notable Fintech Funding Rounds in March
Fintech funding is significantly on the rise. CB Insights' 2018 Q4 report showed a $21 billion, or 120% total increase in fintech funding from 2017 to 2018. And already this year, there have been...
View ArticleThe Non-QM Challenge & How Technology Can Help
By all accounts, the non-qualified mortgage (non-QM) market is booming. In 2018 alone, $11.38 billion of expanding-credit MBS, including non-QMs, was issued, and analysts expect a 60% increase in these...
View ArticleBI Ignite 2019: What Customer Experience Will Look Like 10 Years From Now
The customer experience in banking will change drastically over the next 10 years said panelists at the Bank Innovation Ignite 2019 in Seattle on Tuesday. Philip Ryan, Director of Communication for CCG...
View ArticleNaspers Said to Eye Fintech Deals in $1 Billion India Push
Naspers Ltd. wants to spend about $1 billion in India this year as it scours the globe for investments that can replicate its blockbuster bet on China’s Tencent Holdings Ltd., a person familiar with...
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