What if, instead of #cards, consumers just had to put in a code—and then #another code—to get access to their money at the ATM? #Wells #Fargo announced today that its #customers now have full access to about 13,000 card-free ATMs, installed across the United States. Rather than inserting a card at these ATMs, Wells customers […]
Bank Innovation
#Wells #Fargo’s #mobile user numbers are higher than ever—but that’s not thanks to new activity by consumers. According to the retail banking numbers the #banks released today for the month of January, its customers aren’t opening as many accounts—are, in fact, closing #more of them—and aren’t applying for as manyRead More
Bank Innovation
It’s not news that millennials hate #credit #cards. Which is one of the reasons a lot of them end up as “thin file,” with through-the-roof overdraft fees. #Float – a Los Angeles-based startup, launched today – is set to change that. Through a non-Fico based underwriting system, the platform #offers customersRead More
Bank Innovation
U.K.-based foreign exchange app #Revolut is shutting down its #cards in countries #outside the European Economic Area (EEA), including the U.S., Bank Innovation has learned. The move is said to be temporary. In the past few weeks, Revolut #customers across the world received notifications that their cards will be inactive beginningRead More
Bank Innovation
#Uber announced yesterday that the #Instant Pay option for its drivers has been extended to nearly all U.S. #debit #cards, with the help of #MasterCard Send and #Green Dot, the operator of the mobile-first bank GoBank. “The expansion offers frictionless, elegant service to Uber, which is the poster child for the on-demand market,” said GreenRead More
Bank Innovation
Two thousand credit card payment terminals stand to become infected with malware called Trinity point of sales. Ten million credit #cards were stolen by hackers, called Fin6, who may end up scoring $ 400 million. The cards were stolen from retail and hospitality businesses. If each card sells for $ 21 onRead More
Bank Innovation
E-Trade recently rolled out its new Adaptive Portfolio aimed at young professionals just beginning to face the financial struggles of adulthood. Adaptive Portfolio combines previously offered active and passive management with risk classifications that automatically rebalance to accommodate market changes. Users will also have the option to connect with financial consultants. Read More
#Plastc is “in talks with major issuing #banks” to roll out a white labeled single issuer card for partnering banks, CEO Ryan Marquis told Bank Innovation. This move shows both an unexpected interest in this type of card from banks, and a new business model for a somewhat troubled product line.Read More
Bank Innovation
San Francisco-based #Tally Technologies Inc. raised $ 15 #million in Series A venture funding, to launch an app that promises to help people maintain good #credit while avoiding fees, charges and other credit card affiliated pains. Shasta Ventures led the Series A investment in Tally, joined by the company’s earlier backers Cowboy Ventures and AITV. Silicon Valley Bank also invested.… Read More
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