Forrester: 6 ways COVID will change banking
As the COVID-19 pandemic alters the world, financial services are reacting in turn. The tech-focused market research company Forrester recently reported in “The New Unstable Normal: How COVID-19 Will...
View ArticleWells Fargo tees up international payments gateway
The rise in e-commerce has pushed Wells Fargo to begin development on a gateway product for business clients that will support international transactions online, Colleen Taylor, head of merchants...
View ArticleWeekly Wrap: Radius Bank’s digital roadmap and digital growth at US Bank
Banks may be losing their edge when it comes to CX, at least according to a new report from Sitel Group. “While the retail industry quickly implemented practical online solutions such as click and...
View ArticleWirecard surges after investors eye core business, U.S. unit
Wirecard AG rose the most since June after it revealed that more than 130 investors are eyeing the company’s assets. Some 60 potential buyers have signed confidentiality agreements relating to the...
View ArticleAmEx: No debit card plans despite Venmo integration
Don’t expect American Express to launch a debit card anytime in the immediate future. During the card company’s second-quarter earnings call, Stephen Squeri, chief executive at AmEx, said that while...
View ArticleZelle users have sent $133B so far this year
Early Warning Services, the network operator behind Zelle, announced today that users have sent $133 billion on 519 million transactions through the peer-to-peer payments network in just the first...
View ArticleInvestors inject $400M into payments startups TransferWise and Remitly
It’s been a big week for startup funding in the payments space, with Remitly and TransferWise both announcing big funding rounds yesterday. TransferWise raised $319 million in a round that bumped the...
View ArticleRBC’s Rami Thabet, VP of digital product, to speak at Bank Innovation Build
Rami Thabet, vice president of digital product at Royal Bank of Canada, will speak at Bank Innovation Build, which will be presented in a fully digital format Sept. 9-10. He will take part in a panel...
View ArticlePayPal touts QR codes for Venmo monetization strategy
PayPal is confident the rollout of its Venmo QR codes can help monetize the peer-to-peer payments network. During the company’s second-quarter earnings call, Daniel Schulman, PayPal CEO, said the QR...
View ArticleWeekly Wrap: Varo is a bank and a big week for payments startups
Varo Money officially announced today it is shedding the “banking startup” title, as the company has finally received its banking charter after a three-year journey. Whether more fintechs will follow...
View ArticleTD Bank joins Citi and KeyBank to increase mobile check deposit limits
Big banks continue to recreate the branch experience through their mobile apps. Barry Baird, head of payments capability and delivery at TD Bank, told Bank Innovation the Cherry Hill, N.J.-based bank...
View ArticleMoney20/20 cancels in-person events in Amsterdam, Las Vegas
Money20/20 announced today it is canceling its in-person events for the remainder of the year, and will instead host a virtual conference from Oct. 26-28. “We really wanted to make our Money20/20...
View ArticleHow US Bank, TD and RBC create conversational chatbots
U.S. Bank entered the voice chatbot space last week with the rollout of its voice-activated tool, Smart Assistant. According to Ankit Bhatt, chief digital officer for consumer at U.S. Bank, the tool...
View ArticleCiti, Amazon launch point-of-sale financing solution
Citibank is entering further into the point-of-sale financing space through a new integration with Amazon. The bank announced this week Citi Flex Pay, an installment loan plan applied to Citi credit...
View ArticleCB Insights: Fintech funding rebounds in Q2
Fintech funding rebounded in the second quarter, after suffering a dip due to the pandemic, according to “The State of Fintech Q2’20″ report by CB Insights. Funding increased 17% quarter-over-quarter...
View ArticleSquare looks to replicate Cash App success with SMBs
Square is looking to replicate the success it has seen with consumers through its Cash App for small businesses. In response to a question during Square’s second-quarter earnings call about creating a...
View ArticleJPMorgan Chase’s Sairam Rangachari to speak at Bank Innovation Build
Sairam Rangachari, global head of digital channels and open banking for wholesale payments at JPMorgan Chase, will speak at Bank Innovation Build, which will be presented in a fully digital format...
View ArticleApp Annie: P2P payments outpace other fintech apps
Peer-to-peer payments apps are working their way into consumers’ pockets. According to fresh data from mobile analytics platform App Annie, P2P payments apps took four of the top five spots for the...
View ArticleWatch: PayRecs demos its B2B payments solution
St. Louis-based PayRecs provides business-to-business payment solutions. The startup’s technology allows businesses to track payments and calculate foreign exchange rates, and businesses can input...
View ArticleSMBs hanker for faster payments, data shows
Despite innovations in payments, small businesses are still running into speed problems, according to WePay’s “State of Small Business Payments 2020,” published last week. WePay is a payment software...
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