The paradox of data: can financial services avoid a Cambridge Analytica?
For the financial services industry, Facebook’s new cryptocurrency, Libra, is yet another warning that digital technology is chipping away at the foundation of traditional business models. If bankers...
View ArticleHow the Dave app wants to reach customers who live paycheck to paycheck
In the battle for customers’ checking account dollars, Dave, a personal finance app turned banking platform, is focusing on customers who are trying to make ends meet, many of whom are at the earliest...
View ArticleCapital One’s commercial cards strategy zeros in on real-time capabilities
Capital One is contemplating how it can use data management technology, the cloud, APIs and artificial intelligence to meet the needs of middle-market businesses that increasingly are turning away from...
View ArticleBacked by MUFG, payments app Kyash wants to get into consumers’ mobile wallets
Japanese mobile payments app Kyash is making a play for consumer wallets with a Venmo-style digital and physical debit card that handles merchant payments and peer-to-peer money transfers. Though it...
View ArticleGoCardless partners with DocuSign as it grows its US payments business
GoCardless, a U.K.-based startup that works with 40,000 businesses worldwide and processes $10 billion of payments each year, is adding DocuSign to its list of U.S. partners as it expands its North...
View ArticleBrazilian challenger banQi is working with a mass retailer to lock in customers
Airfox, a three-year old Brazilian financial startup that has raised more than $16 million, wants to enhance consumers' confidence in digital-only banking through its challenger brand banQi. To do so,...
View ArticleRemitly secures $220m to add services beyond remittances
Remitly, a Seattle-based online international money transfer service, announced $220 million of new financing on Wednesday to expand its global customer reach and stretch beyond remittances into other...
View ArticleStartup Branch wants to build a money services platform for hourly workers
With the growth of digital finance tools, a group of startups is looking to reach those who may be left behind, namely hourly workers. Among them, Minneapolis-based Branch is working with employers to...
View ArticleInside Citizens Bank’s point-of-sale lending strategy
As checkout loan startups like Affirm, Klarna and Bread garner funding and grow relationships with retailers, banks are putting up a formidable line o
View ArticleInside First National Bank of Omaha’s seven-person innovation lab
First National Bank of Omaha (FNBO), with $20 billion in assets and 5,000 employees, is building out its seven-person innovation group within the bank
View ArticleAmazon uses Prime Day to promote Amazon Pay on third-party sites
Amazon is using Prime Day to nudge more customers to use its own digital payment method on partner retailers’ websites, and it’s using juicy incentives of up to 30% cash back to do so. Prime Day,...
View ArticleVibePay wants to build a safer version of Venmo and Zelle for UK customers
Vibepay, a peer-to-peer payments app that recently received regulatory approval to operate in the U.K., wants to build a more secure version of popular P2P apps like Venmo and Zelle through additional...
View ArticleHow Chinese ride-hailing app Didi is growing its financial services offering
Didi Chuxing, the China-based ride-hailing company with global reach, is offering accounts with prepaid debit cards to drivers in Brazil and Mexico. The company launched the offering on Wednesday in...
View ArticleBofA: Zelle peer-to-peer transaction volume grows by 79%
Consumers who send money to family and friends are converting to digital peer-to-peer payments in droves, if Bank of America’s Zelle numbers are to be believed. The bank-owned the peer-to-peer payments...
View ArticleeBay accelerates payments push
eBay is pushing forward with efforts to move payments in-house instead of relying on PayPal. The company is taking a staged approach to its payments product launch with the goal to reach full rollout...
View ArticleEU payment providers grapple with two-factor authentication requirements
Digital payments in the European Union will soon require an extra step to verify the identity of the purchaser, and banks are trying to figure out a way to not create too much of a burden for the...
View ArticleLibra not a threat, ‘still playing out,’ Remitly CEO Oppenheimer says
Matt Oppenheimer co-founded Remitly eight years ago after working in Kenya and experiencing the pain of transferring money across borders first hand. After working for Barclays as part of an MBA...
View ArticleZelle payment volumes jump by 57% year over year
While sending funds through Venmo is so common it’s a verb, bank-backed peer-to-peer payments tool Zelle is quickly picking up adoption. On Tuesday, Early Warning Services, the network operator behind...
View ArticlePayPal: 15m Venmo users engaged in ‘monetizable transactions’
PayPal is continuing along its path to monetize Venmo’s 40 million-strong user base. On Wednesday, the company said 15 million Venmo users engaged in monetizable transactions. The company is focusing...
View ArticleThree key takeaways from Facebook’s payments efforts
To get a snapshot of Facebook‘s payments ambitions, you need to look beyond its digital currency aspirations. While Facebook’s digital currency project Libra has been the focus of recent media...
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