The #Federal #Reserve Board has asked for comments on the FedNow real-time #payments platform by Nov. 7, although if it follows the practice from last year, it may well continue taking comments past the deadline.
Financial Technology
#Fintech startups, particularly neobanks, have long suffered from having great #technology, but few #customers using it. Simple and Moven had more innovative offerings than traditional peers, but that didn’t translate to more customers or more revenue. What was BBVA paying for when it bought Simple for $ 117 #million in 2014? It wasn’t the customers, which […]
Bank Innovation
Ant #Financial has done it #again. In 2Q18, the Chinese #fintech raised the largest amount for fintech invest ever. According to CB Insights’ 2Q fintech report, Ant Financial&8217;s #fundraising accounted for 69% of total #global fintech funding. This is not the first time Ant Financial has done something like this. Back in 2016, Ant Financial took […]
Bank Innovation
Royal Bank of Canada has invested $ 1.1 #billion on innovation #over the #last four #years and added 1,000 employees to work on #digital initiatives since 2016, Bank Innovation has learned. That amount is relatively small compared to larger #banks such as Bank of America, for instance. In fact, Bank Innovation previously reported that BofA is investing $ 500 […]
Bank Innovation
EXCLUSIVE— #Cryptocurrencies are experiencing one of their highest points in recent weeks, after remarks made by former financial regulator Gary Gensler brought back concerns that certain #tokens should really be considered #securities. The remarks point to a reoccurring #debate among #cryptocurrency aficionados about the nature of #digital currency, which is having its first positive movements […]
Bank Innovation
#Americans #prefer paying with EMV #chip #cards to #swiping their cards or even paying with cash, according to a recent survey from financial #technology solutions provider Fiserv. According to the report, released last week, 36% of the people surveyed said they preferred EMV chip cards to other #payment methods. The reason, according to the report, […]
Bank Innovation
Long before PSD2 arrived ( the European regulation that requires #banks to open their platforms to fintechs), the U.K. had already established itself as a hub in Europe for #digital banks like Revolut, Monzo etc. And indeed, these digital banks are growing in popularity, at least when it comes to people knowing they exist. A […]
Bank Innovation
IPC, the #turret company, and GreenKey Technologies which does advanced speech recognition, have designed #trading #tech that works on voice.
Financial Technology
EXCLUSIVE— #Online #banking service for U.S. #customers of TD Bank was #down for #over a #week after the bank updated to its digital services, prompting multiple customers to flock to social media to express outrage, frustration, or calls to leave the bank. The bank, which noted that it has experienced “#technology challenges” as a result …Read More
Bank Innovation
EXCLUSIVE — #Cryptocurrency exchange #Coinbase and payment processor #Visa are blaming each other for reversed or duplicated cryptocurrency purchases with #credit and debit cards, it was reported today. Today’s news comes after multiple Coinbase customers raised concerns #over such transactions and additional fees, prompting Coinbase to respond with this statement claiming “a number of major credit card […]
Bank Innovation
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