Weekly Wrap: Google launches PPP solution and banks tackle social media
Banks and tech companies continue to launch Paycheck Protection Program solutions. Google recently got involved with three new tools backed by artificial intelligence to help banks navigate the...
View ArticleCiti, Flywire move $2M to secure PPE for Boston hospitals
A partnership between Citi Commercial Bank and payments fintech Flywire benefited Boston health care workers last month. When Harvard Business School student Sophie Bai found a supplier of personal...
View ArticleVisa invests in tokenization amid e-commerce boom
Visa has onboarded 28 new tech partners onto its Visa Token Service platform, the company announced today. The move will enhance the security of its digital transactions and streamline the payment...
View Article5 Questions With Ben Soccorsy, Wells Fargo’s head of digital payments
In this monthly Q&A segment, Bank Innovation directs five questions to executives and industry thought leaders who highlight technology and innovation trends in financial services, exploring...
View ArticleRemitly taps Cross River to speed global payments as volume spikes
A new partnership between Cross River Bank and Remitly, a Seattle-based remittance company, has enabled Remitly customers to receive international disbursements in near real time, thanks to Cross...
View ArticleIBM inks partnership with Canadian credit unions
A coalition of more than 75 Canadian credit unions wants to “future proof” its organizations through IBM. The coalition, Prairie Payments Joint Venture (PPJV), recently announced an agreement with IBM...
View ArticlePNB, Nymbus launch digital bank Facile
Miami-based Pacific National Bank is using a stand-alone digital brand called Facile to reach younger customers and position itself for long-term success. “It’s aimed at giving the bank a peak into...
View ArticleInside Look: How ‘deep personalization’ steers RBC’s innovation
Banks have spent years trying to foster relationship banking through digital channels, and for Royal Bank of Canada, that means creating a malleable app that morphs, depending on which customers are...
View ArticleWeekly Wrap: Plaid’s new platform and RBC’s ‘deep personalization’ efforts
Plaid made headlines this week with its new open banking platform, Plaid Exchange. The company told Bank Innovation it wants to eliminate cost as a barrier for smaller banks and credit unions to sign...
View ArticleLetter from the Bank Innovation Chairman
Dear Community Member, Last year, we inaugurated the Bank Innovation Build conference to bring together industry participants to share best practices and ideas for exceptional banking innovation...
View ArticleShopify’s push into finance: Opportunity or threat to banks?
E-commerce platform Shopify has debuted a business checking account and payment installment option for customers, and financial institutions should take note of the opportunity — or threat —industry...
View ArticleGreen Dot expands banking services through Walmart, Remitly
Green Dot is overhauling the services it offers through its partners, this week announcing upgrades for Walmart MoneyCard and Passbook by Remitly customers. Pasadena-based Green Dot, founded in 1999,...
View ArticleWeekly Wrap: Wells Fargo fights B2B fraud and Green Dot has a busy week
Green Dot’s banking-as-a-service business made headlines this week, including expanded products for both Walmart and Remitly customers. The company, which has long made money from prepaid reloadable...
View ArticleMarqeta eyes credit products on the heels of $150M funding
Fresh off a $150 million funding round announced Thursday, Marqeta is developing a credit card product. The Oakland, Calif.-based startup raised the funds as an extension of its Series E from an...
View ArticleINV Fintech unveils slate of 10 startups for newest accelerator cohort
INV Fintech, Bank Innovation’s sister accelerator, announced its ninth class today of 10 startups from around the world. The startups were selected after a rigorous review process by INV Fintech and...
View ArticleAlibaba.com moves into SMB financing
Alibaba.com is launching a financing option for American small businesses. The international business-to-business e-commerce marketplace is allowing qualified buyers to pay for orders up to 60 days...
View ArticleBank Innovation unveils Build as virtual event
Bank Innovation is proud to announce the Bank Innovation Build 2020 Virtual Experience, designed to provide industry professionals the insights, strategies and best practices to propel their innovation...
View ArticleFiserv launches AI banking assistant
Fiserv, a core technology provider, has launched a conversational AI technology tool that allows customers to type or speak their inquiries to get real time answers and follow up actions. Lenders can...
View ArticleVaro, with $241M Series D, plans to become a bank this summer
Varo Money is in the “last leg of the race” in getting a banking charter, according to founder and CEO Colin Walsh. The mobile banking startup announced a $241 million Series D today and expects to...
View ArticleWeekly Wrap: Fintechs during civil unrest, and Varo’s big Series D
Protests launched around the country this week in response to systemic racism and police brutality. Many fintechs rallied for social justice on Twitter, but their offline actions were a mixed bag. Varo...
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