It might seem like #blockchain has been all the rage among #banks and #fintech companies, but a recent Bank Innovation poll found that many of these companies don’t have any blockchain projects in the current pipeline of their innovation initiatives. When asked to describe their company’s involvement with blockchain #technology, 30% of the poll-takers said […]
Bank Innovation
POS payments provider #Square is #still interested in pursuing a #bank #charter, but how? It may be more challenging given that the company will be paying more attention to its customer-facing prepaid products like Square Cash and its Cash Card, according to CEO #Jack #Dorsey in the company’s earnings call yesterday. Square CEO Jack Dorsey […]
Bank Innovation
Convenience, not #trust, is why people choose to pay their bills #online, according to Fiserv’s quarterly report on consumer payment trends. The report, titled “Expectations & Experiences: Consumer Payments,” was released last week. It revealed that while 59% of #consumers surveyed paid bills online, more than half of them said they did not trust the […]
Bank Innovation
#Consumers want to engage with #banks on an omnichannel level, and right now, the mobile channel seems to be the #most popular. The percentage of “mobile-dominate” customers, who prefer to bank from their smartphones, has increased from 10% to 15% of consumers YoY, according to a June 2018 report published by Price Waters Cooper. Mobile […]
Bank Innovation
PREMIUM — This past spring, #Mastercard debuted a voice-assisted ordering and payment service at Pizza Hut in Singapore with the help of Softbank’s robotics division. But an application programming interface (API) that would allow for any developer to build a Mastercard “#conversational” payments application remains in development. The payments network is working on the API now, but […]
Bank Innovation
Even more than winning on mobile, #banks would like to minimize security threats. Banks lost $ 16.8 billion to fraudsters last year, according to a Javelin report, and the number of U.S. customers victimized by such attacks increased to 16.7 million, up from 15.4 million in 2016. Protecting customers is paramount for executives. A global study […]
Bank Innovation
SANTA CLARA, Calif. – Largely triggered by Google’s demo showing Google Assistant imitating human voice to book a hair appointment (see here; it’s pretty impressive), the chatter on Day 3 of FinovateSpring here was all about #conversational #banking. Many #banks are adopting conversational chatbots, but there is #still no equivalent of Amazon’s Alexa or Google’s Assistant […]
Bank Innovation
SANTA CLARA, Calif. – Day 2 of FinovateSpring has come and gone, and curiously, there were #still no demos focused on #blockchain #technology. Among the 54 fintechs that demoed here over the last two days, #more than half showcased products and services that used artificial intelligence in some shape or form, but none of the […]
Bank Innovation
#Millennial #women have the funds available to start #investing, but are #held #back by a fear of beginning the process, as well as the typical reason most millennials aren’t investing: #debt, a study released yesterday by loan provider #SoFi found. While 53% of millennial women have emergency money set aside — about three- to six-plus […]
Bank Innovation
EXCLUSIVE – Most Bank of America users do their deposits online or through ATMs, only 25% of them make deposits at #branches. And yet, branches are #still #important to the bank. “When it comes to opening an account with us, 80% of that happens in our financial centers,” Michelle Moore, head of innovation at #BofA …Read More
Bank Innovation
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