#Realtime #payments (RTP) is great for the consumer, but what about for the #banks? Will realtime payments lead banks to lost revenue on transfer fees or fines from bounced checks? That is likely. But real-time payments will also open doors to new revenues possibilities, thanks to data from realtime transactions. “What we’re really talking about is […]
Bank Innovation
EXCLUSIVE – #Wells #Fargo plans to #shut #down 300 #branches this year and about 5,000 branches by 2020, as the bank sees a surge in #digital adaption from its customers, CEO Tim Sloan said on today’s earnings call. San Francisco-based Wells Fargo saw a 13% increase year over year increase in its customers’ digital usage […]
Bank Innovation
While #mobile banking has become normal for the majority of Americans, mobile #payments remain less ubiquitous in the U.S. To change that, merchants and consumers are going to have to find a way out of the “chicken-and-egg” #syndrome that is slowing #adoption, a report released last week by Federal Reserve Bank of Boston found. While […]
Bank Innovation
For the third consecutive year, Bank Innovation has teamed up with Open Bank Project and (this year) the University of Warwick, to conduct a research survey on how financial institutions worldwide are prioritizing API initiatives in 2017. The report, which surveyed more than 200 high-ranking executives from financial services and banking industry, indicated a growing […]
Bank Innovation
Checks, cash, and cards are on their way out, right? Not exactly. A majority of U.S. consumers (56%) feel that #mobile payments increase the chance of fraud and theft, according to a study by YouGov released today. As a result, those customers prefer to use debit or credit cards (49%) or even cash and checks […]
Bank Innovation
The next big thing in financial services won’t make it very far off the ground if FIs don’t innovate with an eye towards #compliance. And #blockchain innovation is no exception, Arshi Singh, head of North America product at international payments processor CurrencyCloud, told Bank Innovation: Regulatory landscape and compliance concerns are the main barriers to […]
Bank Innovation
#Blockchain is a #technology that can cause a lot of frustration, but can also create a lot of joy. That’s according to Abigail Johnson, CEO of financial services giant #Fidelity Investments. Fidelity is making strides in pioneering the #adoption of blockchain technology and digital currencies; aside #from a number of partnerships in the space (including […]
Bank Innovation
It’s no secret that #mobile wallets, although well-intended, haven’t gained much traction among consumers. In fact, a recent Accenture study suggests that 56% of North American consumers are aware of mobile payment services, but only 19% use their mobile #wallet regularly. After all, consumers are not ready to give up their cash and card-filled wallets quite […]
Bank Innovation
Despite the rapid rollout by many large FIs and retailers, #mobile #wallet #adoption among customers hasn’t gained much traction. So players like JPMorgan #Chase chose a different strategy: partner with retailers and tech companies – rather than stand on their own – and appeal to merchants as much as toRead More
Bank Innovation
#Blockchain #technology isn’t ready to replace #banks today, according to a high-ranking official at Russia’s #central bank.
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