U.S. Bank Reaching Beyond Branches as 71% of Active Customers Are Now Digital
Coming off the launch of a revamped mobile app and the hiring of the bank's first chief digital officer, U.S. Bank executives, during the first-quarter earnings call today, outlined a strategy to...
View ArticleMobile-First Checking Account T-Mobile Money Goes Nationwide
T-Mobile Money, a mobile-first checking account, has launched nationwide, the telecom giant announced today. The company touts the app as a no-fee, easy-to-use account through which T-Mobile customers...
View Article3 Notable M&A Deals in Payments
Two of the biggest M&A deals in fintech history occurred in the past three months: Fiserv Inc's $22 billion purchase of First Data Corporation and Fidelity National Information Services's...
View ArticleAre Ride-Hailing Apps Responsible for Southeast Asia’s Growing Fintech Market?
Fintech in Southeast Asia is reaching new records for both deals and funding. One of the reasons for this rise may be, perhaps surprisingly, the ride-hailing business. The region, which includes...
View ArticleHave a Credit Card? You’re Among China’s Fortunate: Shuli Ren
Owning a credit card can seem like a rite of passage in the U.S., where even a college student with no income can sign up and start swiping. More than two-thirds of Americans over the age of 15 carry...
View ArticleZelle Reports Record High Payment Value, Volume in Q1
Zelle, the P2P payments service run by Early Warning Services LLC, reported $39 billion in transaction value for the first quarter of 2019, representing a 54% year-over-year increase in payment value...
View ArticleMnuchin Prefers Private Over Government Solutions to Data Collection, Use
WASHINGTON, D.C. — U.S. Secretary of the Treasury Steven Mnuchin said today that he prefers private over government solutions when it comes to collecting and using consumer data for financial products...
View ArticleVenmo Revenue Growth Exceeds Analysts’ Predictions for Q1
PayPal's P2P service Venmo has exceeded analysts' first-quarter estimates in two key areas: annual revenue run rate and number of users, according to statements from PayPal's Q1 earnings call on...
View ArticleRetail Banking Customer Satisfaction has Improved, But Only Slightly
Customer satisfaction in the overall retail banking industry has improved over the last twelve months, but ever so slightly, according to J.D. Power's 2019 U.S. Retail Banking Satisfaction Study. Based...
View ArticleBNY Mellon’s recent hires tasked with pursuing 3 key technology areas
BNY Mellon's three key financial technology executives added last month were given the directive to pursue investments and fintech partnerships in natural language processing, rule-based automation...
View ArticleIn Subtle Shift, Facebook Now Wants to Be the Conduit Between Bank and Customer
Facebook, in a shift that has evolved slowly over time, now sees itself as a channel between traditional financial institutions and their customers, particularly considering the prevalence of mobile...
View ArticleBlockchain Adopted by Canadian Banks to Verify Client Identities
Canada is making a big leap in modernizing identity verification, tapping blockchain technology to let consumers digitally prove who they are to securely access banking and other personal services....
View ArticleBank of America Revising New App to Bolster Small Biz Client Base
Bank of America has a new source of small business data. The next iteration of the bank's Business Advantage 360, a cash flow/cash management app launched in February, will provide the bank with...
View ArticleSquare Intent on Using ‘Ecosystem’ to Fend Off Competitors
Get used to a new term in fintech: "ecosystem." At Square Inc., "ecosystem" means a rapidly expanding menu of products and services that encourages its seller-customers to use more Square products and...
View ArticleDigital-Only Rising Bank to Add Several Products, Services Within 18 Months
Just three months after launching its digital bank and Midwest BankCentre is working on significantly expanding the venture's range of services. Digital-only Rising Bank was launched by Midwest...
View ArticleFacebook’s Blockchain Team Is Assembling Its Own Mini-PayPal Mafia
The inner workings of Facebook Inc.’s blockchain team are still shrouded in secrecy, but it’s staffing up, according to people familiar with the group. Those people said that its product, which...
View ArticleFIs Pushing for More Cross-Sell of Wealth, Commercial Banking Products
Having spent a lot of time attending to retail customers, banks are now trying to digitally transform their wealth management and commercial lending businesses. In the process, banks hope retail...
View ArticleJapan’s Episode Six to Launch in the U.S. Soon
Payments software provider Episode Six will launch in the U.S. soon, according to its co-founder and CEO John Mitchell. Though he could not disclose a timeline, Mitchell noted he's currently visiting...
View ArticleWhy Visa is Acquiring Earthport for its ACH Payments Business
Visa announced yesterday that it is acquiring the cross-border payment company Earthport. The question is why? The short of it is that the acquisition will allow Visa customers to securely send money...
View ArticleGreen Dot Doubles Down on BaaS Business with $60m Investment
Green Dot, a Pasadena, Calif.-based fintech with a banking license, appears ready to go all-in on its banking-as-a-service platform business. Executives announced plans during the firm's first-quarter...
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