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Bank of America customers sent $27 billion through Zelle in Q1  

Bank Innovation

Bank of America customers are shifting toward digital tools. According to data released by the bank, supplementing its earnings call today, customers made more than 102 million transactions through Zelle, its peer-to-peer payments tool, during the first quarter of 2020.

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Point-of-sale financing an untapped opportunity for banks

Bank Innovation

Banks need to embrace new customer acquisition models or risk falling behind, a recent Accenture report argued. The report, titled 5 Big Bets in Retail Payments in North America, examined how banks risk losing payments revenue to technology startups and other non-bank competitors.

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Samsung Pay launches in-app international money transfers

Bank Innovation

Called Samsung Pay Cash, the capability lets customers send money via direct deposit or arrangements to pick up funds in person. According to Sang Ahn, Samsung Electronics America’s vice president for […].

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America is Falling Behind in Banking Innovation

The Financial Brand

lags other regions in banking innovation and digital deployment, impacting customer experience, cost structure and revenues.

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Consumers Test-Drive Banking Ideas Inside This Hybrid Branch & Innovation Center

The Financial Brand

America First Credit Union invites the public to be a part of its innovation center — a lab inside a fully functioning branch location. The post Consumers Test-Drive Banking Ideas Inside This Hybrid Branch & Innovation Center appeared first on The Financial Brand.

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Banks retool customer service in the scramble for PPP loans 

Bank Innovation

With the launch of the Small Business Administration’s program Friday, bankers are engineering the best ways to handle the customer service inquiries flooding banks’ digital channels. “We dove headfirst into this,” said Becky Buhr, vice president of finance and retail […].

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Can banks win consumer trust with eco-friendly tech?

BankInovation

“In recent history, most of the ways sustainable finance could be accessed was largely through investments or commercial banking, things like social impact bonds, green bonds or mutual funds,” said Ben Stuart, chief marketing officer and head of growth and innovation at Bank of […].