EXCLUSIVE—Should #banks #acquire or #partner with smaller, more agile fintechs? Well, that depends if the end goal of the bank is to further financial #innovation, Derrick Walton, EVP of global financial networks for #Hyperwallet, told Bank Innovation. “There’s a difference in culture, in what the goals tend to be,” Walton said, who is responsible for […]
Bank Innovation
EXCLUSIVE – U.S. Bancorp saw a major spike in its #Zelle transactions in the past four months, according to CEO and president Andy Cecere. U.S. #Bank, the fifth largest retail bank in the U.S., saw a 104% increase in Zelle transactions in the past four months and a 50% increase in customer enrollment for Zelle over […]
Bank Innovation
EXCLUSIVE—#Bitcoin #futures are the perfect medium for #investors curious about #cryptocurrency, as they #allow customers to #play “#both sides” of the #market, Rich Hagen, president of #Ally #Invest, told Bank Innovation. “What’s interesting about bitcoin futures is that you’ll have the ability to take both sides of bitcoin—it’s a two-sided market, you can go long […]
Bank Innovation
One of #PayPal’s recent acquisitions, payments processor TIO #Networks, has suffered a #data #breach that puts the information of 1.6 million of the processor’s #customers at risk, the company said in a statement on Friday, December 1. PayPal acquired the processor in July of this year. A review of the TIO network “has identified a […]
Bank Innovation
EXCLUSIVE— Marketplace lender Prosper will make #liquidity a top priority as the company moves into #2018, company CEO David Kimball said during a lending conference that took place last week. “Our main #concern… it’s always liquidity, and I think most people in this room understand that the best way to get to liquidity is to […]
Bank Innovation
Consumers still aren’t comfortable receiving notifications like late #payment #reminders through #social #media channels, a study released today by #FICO found. While more and more consumers are growing used to conducting their daily financial needs via digital channels, things like mobile or chat apps or social media remain an “inappropriate place” to #send notifications for […]
Bank Innovation
EXCLUSIVE—#Banks need to start integrating with more #fintech services and building out more products through APIs, #FI.SPAN CEO Lisa Shields told Bank Innovation, #before regulations on open banking start to cramp what FIs can build. “What we are betting our business on, is that there is a massive opportunity for banks to innovate,” Shields said. […]
Bank Innovation
EXCLUSIVE—Investors don’t need to wait for Initial Coin Offerings to reach their full potential: #ICOs are #already redefining how businesses in certain markets operate, Taynaah Reis, CEO for cooperative banking system company #Moeda, told Bank Innovation. Moeda conducted an ICO in August 2017, raising $ 20 million for its #blockchain banking platform. The company has offices […]
Bank Innovation
EXCLUSIVE—If fintechs want to land a successful partnership with a financial incumbent, understanding the regulatory atmosphere of the industry is crucial, Steve Smith, CEO of #Finicity, told Bank Innovation. When it comes to collaboration with FIs, Smith said, showing a willingness to work within, or at the very least a willingness to grasp regulatory principles, […]
Bank Innovation
EXCLUSIVE- Is the #prepaid card market saturated? Not quite, based on insights Sue Brown, director of prepaid debit advisory service at #Mercator Advisory Group shared with Bank Innovation. “In 2018, we will likely see #fewer #cards, but an increase in dollar loads,” Brown told Bank Innovation. According to a recent Mercator report authored by Brown, […]
Bank Innovation
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