#Fintech M&A #deals have sustained volume and value this quarter. During 2Q18, fintech deals totaled $ 12.7 billion, up from $ 7 billion in 2Q17. This boost in transaction volume is mainly due to the consolidation of sectors, according to KPMG’s biannual “Pulse of Fintech” report. Major deals such as PayPal’s $ 2.2 billion acquisition of iZettle, also […]
Bank Innovation
Convenience, not #trust, is why people choose to pay their bills #online, according to Fiserv’s quarterly report on consumer payment trends. The report, titled “Expectations & Experiences: Consumer Payments,” was released last week. It revealed that while 59% of #consumers surveyed paid bills online, more than half of them said they did not trust the […]
Bank Innovation
#Data is created at every #financial transaction, and as datasets expand beyond what a single database can hold, big data is born. As complex as these datasets can be, they hold valuable information for financial institutions and are spurring financial #services investments. A report from the technical consulting firm SNS Telecom & IT, published July […]
Bank Innovation
#JPMorgan Chase & Co. reported a double-digit percentage rise in #active digital #users and active #mobile users this quarter, according to the 2Q’18 earnings call today. The bank’s digital to mobile penetration rate, however, is not as impressive. For instance, take a look at the bank&8217;s active digital users, which at 47,952 this quarter showed […]
Bank Innovation
PREMIUM – #Digital channels will play a larger role in increasing #Bank of America’s deposit growth, a key part of the bank’s business strategy. Currently, 26% of BofA’s #sales #come from its digital front, but according to Dean Athanasia, president of consumer & small business at BofA, the #goal is to drive that number up […]
Bank Innovation
Wells Fargo & Co. has had a very public battle with fraud. Just last month, the bank agreed to pay $ 480 million to settle a lawsuit from investors accusing Well Fargo of securities fraud related to its fake-account scandal from 2011 to 2016 in which 2 million fake accounts were set up. “We have alerting to […]
Bank Innovation
#JPMorgan #Chase & Co. and the #National #Bank of #Canada (NBC) announced today that they tested a debt insurance simulation on a new #blockchain platform. NBC issued a one-year, floating rate certificate of deposit for $ 150 million dollars to JPMorgan on the platform, with JPMorgan creating a replica transaction to NBC using a debt issuance […]
Bank Innovation
It’s no secret that China’s e-commerce scene is huge and growing, with players like Baidu, Alibaba and Tencent. By extension, China’s stellar status in the e-commerce landscape also translates into a strong performance in the #mobile #payments space. #China’s #growth in e-commerce has, indeed, been impressive. A new report by McKinsey & Company, released earlier […]
Bank Innovation
EXCLUSIVE— #Banks need to focus on fixing all of the little #problems humans encounter in daily life, rather trying to sell more mortgages and credit cards to their users, Tom Blomfield, CEO of UK neobank #Monzo, said today in an online Q&A. Banks need to focus on “#real, #human problems,” Blomfield wrote, in response to […]
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
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