EXCLUSIVE— The new chief information officer for #SunTrust will focus on expanding partnerships, client experiences, and moving forward with the bank’s digital roadmap, Scott Case, now the bank’s CIO, told Bank #Innovation. In practice, that means focusing more on the bank’s mobile offerings, growing LightStream (the bank’s online #lending platform), and building out its tech …Read More
Bank Innovation
EXCLUSIVE – #American Express will be investing in its #networks as one of its four major strategic priorities for #2018 as a way for the credit card company to adapt to the growing prominence of digital payments. “As the payments industry continues to evolve with more types of transactions being processed electronically such as cross …Read More
Bank Innovation
Transactions:
Partnership Renewals:
New Partnerships:
New Products/Features:
Mobile & Tech:
1 Total receivables for non-retail issuers at end of 4Q17. 2 Total purchase volume of non-retail issuers in 4Q17. 3 After-Tax ROA excludes Wells Fargo, Chase, Bank of America and US Bank, which do not report credit specific income. 4 YoY = Year-over-year change versus 4Q16. 5 QoQ = Quarter-over-quarter change versus 3Q17. Note: PV is reported PV for the quarter (it is not annualized or TTM)
1 Chase no longer discloses an ROA measure directly attributable to Card Services. 2 Citi: Purchase volume includes cash advances. 3 Capital One: U.S. card business, small business, installment loans only. Purchase volume excludes cash advances. 4 Bank of America: Receivables, purchase volume and net loss rates are for U.S. consumer cards. ROA estimate is discontinued. 5 Discover: includes U.S. domestic receivables and purchase volumes only. Restated: ROA reflective of Direct Banking segment (credit card represents ~80% of loans) and implied U.S. Cards tax rate of ~40%. ROA denominator estimated from total loans ended totals. 6 American Express: Changed reporting method as of 1Q16. Figures are for U.S. Consumer segment only and exclude small business. 7 US Bank: Net Income attributable to Payments Services totaled $ 309M as of 4Q17, compared to $ 322M in 4Q16; Payments Services includes revenue from consumer credit cards, as well as commercial revenue and other sources. 8 A/R and PV for Retail Card unit only. 9 Loss rates and ROA include all of SYF’s business lines (i.e., Retail Card, Payment Solutions, and CareCredit). Retail Card accounts for about 70% of total receivables. 10 Average Receivables.
The post Q4 2017: U.S. credit card issuer snapshot appeared first on Accenture Banking Blog.
Joining clubs, conducting #financial presentations or offering free dinner seminars are time-consuming and expensive ways to find new clients. Now #SmartAsset, an online financial resource, is tapping its 37 unique monthly visitors to offer them a way to find a local financial advisor.
Financial Technology
EXCLUSIVE – #Swedish PFM firm Tink landed a major #partnership with Belgium’s BNP #Paribas Fortis, nearly doubling the #fintech’s userbase. BNP Paribas Fortis will integrate #Tink’s Aggregation, Personal Finance Management (PFM) and Payment Initiation #technology into its mobile banking applications. The first step will be to roll out Tink to BNP’s mobile-first digital bank, Hello …Read More
Bank Innovation
EXCLUSIVE – #Swedish PFM firm Tink landed a major #partnership with Belgium’s BNP #Paribas Fortis, nearly doubling the #fintech’s userbase. BNP Paribas Fortis will integrate #Tink’s Aggregation, Personal Finance Management (PFM) and Payment Initiation #technology into its mobile banking applications. The first step will be to roll out Tink to BNP’s mobile-first digital bank, Hello …Read More
Bank Innovation
EXCLUSIVE – There has been plenty of buzz around #voice #banking for some time now, and while many thought 2017 would be the year voice banking made it big, that didn’t happen. And that’s not because the field didn’t make any progress – it did- but the #fintech world had other distractions (hint: #blockchain & …Read More
Bank Innovation
Some #bitcoin supporters thought #restrictions on #remittances to Mexico offered a role for bitcoin, but the threat of taxes appears to have receded.
Financial Technology
#Payments processor #Mastercard will be integrating its #physical and #digital payments team into one come April, the company announced, a change that follows the departure of #Chief #Innovation #Officer, Gary Lyons. Lyons will leave the company to head an “outside venture” that will provide services and work closely with Mastercard, according to this week’s press …Read More
Bank Innovation
EXCLUSIVE – On March 6 in San Francisco, 12 impressive #startups demoed #their #latest in #fintech #technology at INV Fitnech’s 2nd annual #demo day. INV Fintech, the sister accelerator to Bank Innovation, is partnered with Fiserv and eight banking partners with over $ 3 trillion dollars in assets. The startups were carefully scrutinized and selected from …Read More
Bank Innovation
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