PREMIUM — The #German #challenger #bank N26 surpassed one #million #users, the bank announced yesterday — a significant feat for any neobank. The bank has doubled its customer base since last August. To put this in perspective, U.K.-based challenger bank Revolut, which just last month reached unicorn status thanks to a $ 250 million series C […]
Bank Innovation
PREMIUM — Digital payments are on the rise across the globe. In the U.S., the world’s largest economy, the use of mobile payments has increased significantly in the past two years. Add to that mix the prevalence of e-commerce and, the growing popularity of P2P apps, such as Venmo and Zelle, as well as digital banking. […]
Bank Innovation
#Innovation for the sake of problem-solving (rather than for its own sake) is the way U.S. Bank’s Dominic Venturo approaches his role of chief innovation officer. The bank has a comprehensive outlook on investing and researching emerging #technology trends through its innovation team, Venturo said. The bank approaches its innovation plan by looking for “interesting […]
Bank Innovation
As purchase volume and receivables continued to rise during the recent quarter, several issuers reported material increases in returns resulting from tax reform. Read more about the key themes and notable happenings below.
Investment is ongoing in digital, mobile and self-service capabilities.
Transactions:
New Partnerships:
Partnership Developments:
New Products/Features:
Mobile & Tech:
1 Total receivables for non-retail issuers at end of 1Q18. 2 Total purchase volume of non-retail issuers in 1Q18. 3 After-Tax ROA excludes Wells Fargo, Chase, Bank of America and US Bank, which do not report credit specific income. 4 YoY = Year-over-year change versus 1Q18. 5 QoQ = Quarter-over-quarter change versus 4Q17. Note: Purchase Volume is reported volume for the quarter (it is not annualized or TTM)
1 Chase no longer discloses an ROA measure directly attributable to Card Services. 2 Citi: Purchase volume includes cash advances. Citigroup data includes Citi-Branded Cards and Citi Retail Services. 3 Capital One: U.S. card business, small business, installment loans only. Purchase volume excludes cash advances. 4 Bank of America: Receivables, purchase volume, and net loss rates are for U.S. consumer cards. 5 Discover: includes U.S. domestic receivables and purchase volumes only. Restated: ROA reflective of Direct Banking segment (credit card represents ~80% of loans) and implied U.S. Cards tax rate of ~22%. ROA denominator estimated from total loans ended figures.
6 American Express: Changed reporting method as of 1Q16. Figures are for U.S. Consumer segment only and exclude small business. 7 totaled $ 343M as of 1Q18, compared to $ 309M in 4Q17 8 A/R and PV for Retail Card unit only. 9 Loss rates and ROA include all of SYNCHRONY ’s business lines (i.e., Retail Card, Payment Solutions, and CareCredit). Retail Card accounts for about 70% of total receivables. 10 Average Receivables.
We are excited to share Q1 2018: Credit Card Issuer #Snapshot with you. Stay tuned for next quarter’s analysis.
The post Q1 2018: U.S. credit card issuer snapshot appeared first on Accenture Banking Blog.
Preparing for #realtime #payments has pushed U.S. #banks to engage with APIs and #open #banking at a fundamental level. Look no further than core service providers such as Fiserv or Finastra, which are providing banks with API-driven platforms to integrate #into a realtime infrastructure. The use of these APIs has deeper implications for the U.S. […]
Bank Innovation
Berlin-based challenger bank N26 will be opening its services to users in the United States and the United Kingdom by the end of this year, founder and chief executive officer Valentin Stalf told Reuters today. The bank, which was officially launched in 2015, currently has a #German banking license, allowing it to operate in other […]
Bank Innovation
Transactions:
Partnership Renewals:
New Partnerships:
New Products/Features:
Mobile & Tech:
1 Total receivables for non-retail issuers at end of 4Q17. 2 Total purchase volume of non-retail issuers in 4Q17. 3 After-Tax ROA excludes Wells Fargo, Chase, Bank of America and US Bank, which do not report credit specific income. 4 YoY = Year-over-year change versus 4Q16. 5 QoQ = Quarter-over-quarter change versus 3Q17. Note: PV is reported PV for the quarter (it is not annualized or TTM)
1 Chase no longer discloses an ROA measure directly attributable to Card Services. 2 Citi: Purchase volume includes cash advances. 3 Capital One: U.S. card business, small business, installment loans only. Purchase volume excludes cash advances. 4 Bank of America: Receivables, purchase volume and net loss rates are for U.S. consumer cards. ROA estimate is discontinued. 5 Discover: includes U.S. domestic receivables and purchase volumes only. Restated: ROA reflective of Direct Banking segment (credit card represents ~80% of loans) and implied U.S. Cards tax rate of ~40%. ROA denominator estimated from total loans ended totals. 6 American Express: Changed reporting method as of 1Q16. Figures are for U.S. Consumer segment only and exclude small business. 7 US Bank: Net Income attributable to Payments Services totaled $ 309M as of 4Q17, compared to $ 322M in 4Q16; Payments Services includes revenue from consumer credit cards, as well as commercial revenue and other sources. 8 A/R and PV for Retail Card unit only. 9 Loss rates and ROA include all of SYF’s business lines (i.e., Retail Card, Payment Solutions, and CareCredit). Retail Card accounts for about 70% of total receivables. 10 Average Receivables.
The post Q4 2017: U.S. credit card issuer snapshot appeared first on Accenture Banking Blog.
Momentum is building around real-time #payments in the US as #banks, corporations and #fintech companies begin thinking of how this could change the way they do business or the services banks could offer.
Financial Technology
EXCLUSIVE— While businesses and #banks in the United Kingdom are moving (slowly) towards compliance with the General Data Protection Regulation, many U.S. #companies are still figuring out if the regulation applies to them. Unfortunately, these companies have precious little time to waste, according to the #GDPR Beyond Borders conference that took place in NYC yesterday: …Read More
Bank Innovation
For all buzz around #cryptocurrency and #blockchain #technology, surprisingly, the top U.S. #banks have not been #investing as much in these areas as much as one might have thought. The top areas of interest for the major U.S. banks when it comes to #fintech investment is #personal #finance, according to a report by CB Insights. […]
Bank Innovation
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