Banks can take cues from challengers on digital customer acquisition: Gartner
While large banks may not feel threatened by personal finance apps or digital-only challengers, they can learn from them on the digital onboarding front, a recent Gartner study observed. Gartner’s...
View ArticleTwo more groups submit Singapore digital banking license bids
Two more consortiums said they submitted bids for digital banking licenses in Singapore as companies, ranging from a massage chair maker to a property giant and Chinese fintech firms, joined forces to...
View ArticleRecommendation engine Borrowell moves into bill tracking and pay advances
Borrowell, the Canadian financial product recommendation and lending platform reminiscent of Credit Karma, is getting into a subscription model. The six-year-old company is currently testing a tool...
View ArticleFinancial app Qapital hacks the psychology of spending
At first glance, New York-based Qapital, a digital banking, investing and budgeting platform, might look like a challenger bank. However, to CEO and co-founder George Friedman, Qapital’s offerings are...
View ArticleGas stations struggle to meet October chip card deadline
While chip cards are becoming a mainstay at brick-and-mortar retail checkouts, gas pump payment technology lags behind. Visa and Mastercard have given U.S. gas station owners until October of this year...
View ArticleTencent teams with state-backed UnionPay on mobile payments
Tencent Holdings Ltd. and China UnionPay Co. will soon unify the mobile codes that consumers scan to pay for purchases, granting the Chinese central bank-backed network a bigger foothold in a $27...
View ArticleAmex moves closer to entering China’s $27 trillion market
American Express Co. cleared a key hurdle in its bid to accessing China’s $27 trillion payments market after the central bank accepted its application to start a bank card clearing business. The...
View ArticleBank product development becomes a ‘game of thrones’
Look no further than Citigroup to catch a glimpse of the future of bank product development. In a revealing Meetup fireside chat yesterday evening, Alex Sion and Rachel Moore shared details on the...
View ArticleWith $125m Series B, HighRadius to expand outreach to client banks
HighRadius, a startup which offers tools to automate the corporate invoicing process, has raised $125 million in Series B funding to grow its product suite and expand its international reach, the...
View ArticleThailand strives to catch up to Asian markets on digital banking
Thailand is laying the foundations for standalone digital banks as it strives to catch up with other Asian markets that are allowing such changes, according to its central bank governor. “At this...
View ArticleWeekly Wrap: CIT targets homeowners associations, as Qapital connects...
Welcome to the latest episode of our Weekly Wrap video series, for the week ending Friday, January 10, 2019. In this episode, editors discuss the following news developments: Citi Ventures’ approach to...
View ArticleWirecard partners with Sprint to drive cashierless checkout
As cashierless shopping continues to gain momentum with Amazon Go and its competitors, German payments company Wirecard is partnering with Sprint to develop a similar experience for its clients....
View ArticleMastercard turns to AR to visualize loyalty benefits
Payments giant Mastercard launched a new augmented reality (AR) app this month that lets cardholders get a bird’s-eye view of their benefits. It’s a move that the company hopes will drive engagement...
View ArticleChallenger bank hype will result in better products, says Edison Partners
The rush to be the best bank-type platform has created a crowded market, both in the business-to-business and direct-to-consumer fintech sectors. Investors are placing their bets on tools that will...
View ArticleIndia’s about to hand people data Americans can only dream of
India has more than 560 million internet users, all generating data by the terabyte. Soon they’ll have an unprecedented amount of control over their digital financial footprints, with the ability to...
View ArticleVisa to buy Plaid for $5.3 billion in bid to reach startups
Visa Inc. grew into one of the world’s most valuable financial companies by serving as the pipes that help connect banks and merchants. Now, it’s making a major bet on doing the same for data between...
View ArticleWith point-of-sale loans, PayPal eyes millennial and Gen Z shoppers
As retailers seek to increase customer purchase volumes through point-of-sale loans, PayPal is setting itself apart from competition through its brand recognition, the speed of its underwriting process...
View ArticleShopify launches starter loans for merchants as low as $200
Commerce platform Shopify, which supports the operations of more than 1 million merchants, has launched a loan product for early-stage U.S. businesses. Shopify, which has been offering loans through...
View ArticleWith Plaid, Visa embeds itself deeper into the fintech ecosystem
Visa‘s $5.3 billion acquisition of data aggregator Plaid puts the company’s toolset at the center of financial services innovation. The move embeds Visa itself deeper into the payments infrastructure,...
View ArticleVisa, Mastercard, AmEx win easier access to China market
The biggest U.S. card companies just moved a step closer to gaining access to China’s $27 trillion payments market. China said it won’t take longer than 90 days to consider applications from providers...
View Article