As gig workers and small businesses continue to grab a larger market share of the economy, more #banks and FIs might want to consider card-based #push #payments as a way to grow their debit business. This suggestion comes courtesy of #Mastercard. “And by growing their debit business, #realtime push-payments can help banks generate more revenues,” […]
Bank Innovation
#Green Dot Bank’s “banking-as-a-service” #revenue has just about equaled #product revenue, and may soon eclipse it, CEO Steve Streit said on yesterday&8217;s earnings call. This could have profound implications not just for Green Dot, but for the future of banking. This is the essence of open banking by another name — #banks opening up their rails and […]
Bank Innovation
#Zelle made a difference to the bottom line of financial #technology provider #Fiserv, the company reported on its earnings call yesterday. “P2P transactions, including Zelle, grew nearly 30%,” according to Fiserv CFO Robert Hau. It was also noted that several #banks — Fiserv serves some 13,000 financial institutions &8212; saw a #boost in transactions due […]
Bank Innovation
PREMIUM – U.K. challenger bank #Monzo has made headlines recently for massive losses that quadrupled year-over-year. #Loses were recorded at £33.1 million ($ 43.6 million) in 2017, up from £7.9 million ($ 10.4 million) the previous year, according to the Financial Times. But customers may care more that the digital-first bank had a win when it comes to […]
Bank Innovation
PREMIUM – #BBVA #Compass, the U.S. arm of the Spanish bank BBVA, has no designated #innovation head. Instead, all innovation initiatives fall under the bank’s head of business development, José “Pepe” Olalla. BBVA has more than 15 million mobile active users. Olalla, who has been with BBVA since 1992, served as BBVA’s Chief Information Officer […]
Bank Innovation
PREMIUM – The digital and innovation strategy behind #Fifth Third, one the largest regional #banks in the country, is simple: build, buy, partner. That strategy has worked well for the bank.The company told Bank Innovation that it has invested $ 100 #million in #fintech over the past 22 months and that it expects to make about […]
Bank Innovation
EXCLUSIVE – With over 100,000 signups to date, Ollie Purdue, CEO of digital current accounts #Loot will turn his #focus on #generating revenues this year. “We spent last year and most of 2016 scaling and on the workings of the product,” Purdue told Bank Innovation. “This year, we look at revenues.” Launched back in 2014, […]
Bank Innovation
EXCLUSIVE- Q2 Holdings and #Chime are taking advantage of how users typically pay #services like Amazon or Netflix to help #drive more interchange #revenue to financial institutions. For consumers, paying #digital #subscription services like Netflix typically involves a degree of laziness. Most customers set up payment for these services once, and never look again unless […]
Bank Innovation
#Free #credit reporting company Credit Karma reported more than $ 500 million in #revenue in 2016 — a 50% increase compared to the prior year &8212; hitting 70 million members since the launch of its flagship product &8212; credit monitoring &8212; in 2012, the company announced this week. What’s the secret to its success? Free #products […]
Bank Innovation
The lending business appears to be treating #Square well. The division of the #company responsible for providing loans to small businesses and Square sellers across its global network, Square #Capital, processed more than 400,000 business loans for the quarter, for a total of $ 251 million. This is up 64% from last year. Overall, the payments […]
Bank Innovation
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