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Look Beyond Technology for Better Digital Banking, Fiserv Says

Bank Innovation

EXCLUSIVE—With mobile banking services offered at the majority of financial institutions, innovating the digital space is becoming more important in the fintech ecosystem, especially for smaller players like regional banks or credit unions.

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Increasing Digital Banking Options Put Pressure On Big Lenders To Adapt

PYMNTS

At a time of increased consumer use and acceptance of the new COVID-era digital lifestyle, the pressure is mounting on large, legacy lenders to accelerate their innovations – or become obsolete. 5), J.P.Morgan CEO Jamie Dimon said banks that don’t adapt in how they deal with customers will go the way of the dinosaurs.

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Business Payments FinTechs Embrace A Time To Innovate

PYMNTS

What's more, the market lull may offer a moment to focus on innovation for the future as commercial payment habits shift — perhaps permanently. Digital banking was a key driver for Bottomline Technologies during the quarter, too, CEO Rob Eberle said during the firm's earnings call , also on Thursday.

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ADVANCE.AI Consortium Seeks Singaporean Digital Banking License

PYMNTS

Yet another business consortium vies for a lucrative, wholesale digital banking license, according to reports. ” The Monetary Authority of Singapore determined last year that it would issue up to five virtual banking licenses to enhance competition and innovation. Winners will be announced in mid-2020.

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The Race For Singapore’s Digital Banking Licenses

PYMNTS

In late June, the Monetary Authority of Singapore (MAS) sent a ripple through the global financial services ecosystem with the announcement of its intention to issue five digital bank licenses to eligible applicants. Only two of the licenses will full digital banking licenses, while the other three will be wholesale banking licenses.

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Banking Innovation Enters New Era; Consolidation Now The Rule

PYMNTS

What makes the current developments so interesting and exciting is that “we're just seeing that they're at the end of the innovation growth cycle,” he explained. Clearly there's regional saturation, which leads to consolidation.”. These aren't small companies or digital innovators,” he noted.

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Standard Chartered Expands Africa Digital Bank Initiative

PYMNTS

31) that it has kicked off the second phase of its initiative to roll out a digital-only retail bank in Africa. In a press release , Standard Chartered said that in response to demand from consumers in Africa, it will launch its digital banking business in Uganda, Tanzania, Ghana and Kenya.