Plastic cards just aren’t going to cut it anymore for #workers in the “gig #economy,” and businesses have to be ready. This goes for something as simple as travel and payment needs, according to Gint Baladis, vice president, global product management for American Express. What’s #needed are #virtual #payments — non-card-based digital payments (that may […]
Bank Innovation
Financial service executives are still concerned about #regulatory changes, but the best response is to improve #data aggregation and #management services. This is according to a #survey by AxiomSL, which found that 66% of regulatory executives believe their institution needs to make investments in data management. The majority of respondents noted that the best response […]
Bank Innovation
SAP, which once hoped for a Big Bang #core banking replacement, is now looking for piecemeal change with APIs and modules, perhaps provided in the cloud.
Financial Technology
#Banks #should approach points of digital friction in the same way e-commerce giants do, if they want to hold onto their customers. As noted in recent surveys, a single point of friction is all it takes for consumers to abandon a digital banking product—and thus, the bank itself. This means banks need to start taking […]
Bank Innovation
It’s been less than a year since Goldman Sachs unveiled its #marketplace #lending arm, Marcus. How has the platform been doing so far? Marcus has lent more than $ 1 billion since the launch, and plans to “cross” the $ 2 billion threshold by the end of the year, Chief Executive Lloyd Blankfein said in an interview […]
Bank Innovation
AUSTIN — Better customer service comes from disruption within, not from trying to change consumer behavior, according to Yolande Piazza, CEO of #Citi #Fintech. “I think in fintech we talk a lot about disruption, but let’s be honest—if someone came up to you and said, ‘I want to #disrupt your life,’—I don’t think that’s what […]
Bank Innovation
Financial services have been experimenting with #blockchain #projects for quite a while now. In fact, 2017 seems to be the year blockchain is set to break out of the Proof-of-Concept stage and into #production environments — yes, even for #banks. But driving blockchain experiments into real-life adoptions is a considerable journey, and big enterprises don’t […]
Bank Innovation
#Bitcoin’s price continues to rise, and it’s starting to make the #cryptocurrency world a little nervous. These past few months have seen the #crypto’s price rise nearly 12% YoY, according to data collected by Coindesk, which has in turn swept up the price of other cryptocurrencies like ether and Ripple’s XRP. Holders of cryptocurrency are […]
Bank Innovation
The promise of artificial intelligence around streamlining and enhancing banking processes has enticed most, if not all, financial institutions at this point. But before jumping to AI, FIs need to get their #data straight, according to Jon Theuerkauf, managing director and group head of performance excellence at BNY Mellon. “Forget AI, I don’t even know what […]
Bank Innovation
Faster payments? Done and done, #Visa #says. #Mastercard’s coming integration with bank account-based payments processor #VocaLink will bring faster payments to Mastercard’s payments network in the United Kingdom, but Visa is not worried, according to company CEO Alfred Kelly, Jr. VocaLink, which processes about 90% of salaries in the U.K., according to company statements, will […]
Bank Innovation
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