CLS And IBM Launch Blockchain App Store With Banks And Fintechs
CLS and IBM have developed a secure environment for #banks and #fintechs to create and share #blockchain apps.
Financial Technology
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Ally Financial Is Leveraging Machine Learning to ‘Better Serve Customers,’ Exec Says
#Blockchain, artificial intelligence, or #machine #learning may be future innovations for most #financial institutions, but #Ally Financial is already using these emerging technologies “to #better #serve #customers,” Anand Talwar, deposits and consumer strategy executive at Ally, told Bank Innovation. “To better interact with customers, machine learning risk engines have been deployed,” Talwar said. “There has been a […]
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5 Notable Fintech Fundings in July
#Fintech funding is already breaking records this year. For the first half of the year, there has been $ 41.7 billion invested in fintech globally, eclipsing the 39.4 billion total raised last year according to Fintech Global. As the world of fintech funding continues to gain momentum, there are some deals that stand out. Bank Innovation […]
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Transaction Volume for PayPal’s Venmo Surges
#Venmo‘s payment #transaction volume reached an all-time high in 2Q this year, PayPal reported. According to yesterday’s earnings call, Venmo processed $ 14.2 billion in payment volume during the second quarter. This represents an enormous 78% YOY increase. Over a 12-month period, Venmo reported $ 46 billion in transaction volume. In the earnings call yesterday, PayPal CEO Dan […]
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Fintech Unfiltered: How (and Why) JPMorgan Chase Built Finn [PODCAST]
You might not expect the nation’s leading mobile bank, with north of 31 million users, to be in a hurry to build a digital bank under a new brand, but that&8217;s just what #JPMorgan #Chase did last October with #Finn. Clayton Christensen&8217;s famous “innovator&8217;s dilemma” notes that it is difficult for incumbents to launch new […]
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By 2030 Millennials Will Have $20 Trillion In Wealth. Here’s What They Want In Robo-Advisors
Millennials are expected to have $ 20 #trillion in #wealth by #2030, according to a July 2018 CB Insights study. Marketing investment options and #robo-advisors to this mobile-centric group will require a specific strategy. Currently, millennials’ combined financial assets come up to $ 4.5 trillion in wealth. Factoring in for organic savings growth, market “impact,” and wealth […]
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Stripe Takes on Marqeta with Card-Issuing Product
Payment processor #Stripe’s latest platform puts it head to head with #Marqeta, a major player in the card-issuing market. Yesterday, Stripe unveiled an end-to-end platform that lets businesses create, distribute and manage both physical and virtual cards. The #product is called Stripe Issuing and is being rolled out through an “invitation-only” format right now. This […]
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Banks Get Personal With Digital Customer Info
#Banks have pushed customers to online and #digital channels and now realize it takes some special skills to build relationships with them. Junk mail just isn’t enough.
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Zelle Crosses 100-Million Mark in Transactions Processed
Like other P2P apps, bank-backed #Zelle also experienced an increase in its payment volume in the second quarter, but at a relatively less impressive rate than PayPal’s Venmo. Zelle released a report yesterday showing that it had #processed 100 million #transactions totaling $ 28 billion in the second quarter ending on June 30. The average Zelle transaction […]
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Navy Federal Credit Union Mobile Usage on Par with Big Banks
For smaller FIs where “digital transformation” may still mean establishing a #mobile app, some are far ahead of their peers. Bank Innovation previously reported on the mobile app user numbers of the country’s biggest #banks, and on average 44% of the top banks’ customers use their mobile app. On par with this metric is the […]
Bank Innovation
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