Fintech Labs Insights

NOVEMBER 10, 2023

Consumers have been banking online for 28 years. And from the very beginning, there have been pure-play digital banking startups. The first, online bank Security First Network Bank (SFNB) launched in 1995, just a year after Amazon.com. But unlike ecommerce, digital-only banking was slow to catch on.

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PYMNTS

OCTOBER 12, 2017

Banking giant JPMorgan reported results that bested Wall Street estimates on Thursday, buoyed in part by strong growth in its card business and mobile initiatives. In the consumer and community banking segment, revenues were up 6 percent year on year to $12 billion. Credit card sales and merchant volumes were up 13 percent.

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CB Insights

FEBRUARY 13, 2020

As businesses and consumers become more comfortable using credit cards online, the proportion of US commerce that takes place online has steadily increased over the last 20 years. Stripe really did come about because we were really appalled by how hard it was to charge for things online.” — John Collison.

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PYMNTS

JANUARY 12, 2020

It will integrate with the financial giant’s digital bank Marcus. When it launched in 2016, Marcus offered an online alternative that helped the company differentiate its revenue stream with saving accounts and personal loans for Goldman’s retail consumers. People expect a digital bank to have an app,” Greco said. “We

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PYMNTS

MAY 27, 2020

More consumers are turning to the omnichannel offerings of banks and credit unions (CUs) as they follow stay-at-home mandates, and cybercriminals are eager to launch attacks that make use of these channels. Deep Dive: Why Banks Must Examine Customer Behaviors Across Channels. Around The FI Fraud Decisioning World.

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PYMNTS

JANUARY 15, 2020

The financial institution said 29 percent of all consumer sales were digital and 53 percent of all digital sales came via mobile. As it stands, Bank of America now has 38.3 million active digital banking users, along with 29.2 million active mobile banking users. consumer cards. consumer cards.

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PYMNTS

NOVEMBER 19, 2019

Banks are, however, revamping their approaches to these technologies on how they may be applied outside of their typical use cases, fending off cybercriminals who have a growing number of opportunities to access online banking platforms and customer data. Around The Digital Banking World. About The Tracker.

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PYMNTS

OCTOBER 16, 2019

In all, Bank of America now has 38 million active digital banking users, along with 28.7 million active mobile banking users. The earnings report also said there have been nine million Erica users since its launch in April 2018. Sixty percent of total direct auto applications came from digital.

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Fintech Labs Insights

JUNE 26, 2023

Other than a brief spike in 2018, it’s been 15 years since short-term rates were high enough for most small-to-medium-size businesses (SMB) to worry about chasing yield on their parked cash. Looking for digital banks, lenders, payment providers, insurance or digital accounting for small businesses? 613 reviews) 2.

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PYMNTS

AUGUST 28, 2020

Gourab Basu , vice president of global network processing at Visa, tells PYMNTS how deep learning keeps card (and card not present) transactions flowing. Here’s how he sees the digital-first restaurant landscape shaking out. New Report: Helping Retail Treasurers Navigate The Digital D2C Shift (“How To” Playbook).

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Fintech Labs Insights

APRIL 6, 2023

Other than a relatively short-lived spike in 2018, it’s been 15 years since short-term rates were high enough for most small- to-medium-size businesses (SMB) to worry about chasing yield on their parked cash. Looking for digital banks, lenders, payment providers, insurance or digital accounting for small businesses?

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PYMNTS

JULY 23, 2020

Open banking has been picking up steam in Latin America for more than two years. Regulators in Mexico passed a law governing FinTechs in March 2018, just two months after PSD2 went into effect in the European Union, and others in the region have since followed suit. The creation of open banking initiatives in the E.U.

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PYMNTS

OCTOBER 16, 2018

Goldman Sachs booked a 4 percent year-over-year revenue increase for the third quarter of 2018, with that growth powered in part by increased lending through its Marcus by Goldman Sachs online consumer savings and lending platform. Q3 revenue for the investment bank hit $8.65 percent higher than the $5.02

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PYMNTS

JANUARY 20, 2020

With an eye on segment performance, she said JPMorgan Chase card, merchant services and auto revenue were up 9 percent driven by higher card NII on loan growth as well as the impact of higher auto lease volumes. Overall, international and North American consumer banking were up 4 percent, as measured by year-over-year revenue growth.

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PYMNTS

JANUARY 7, 2020

That unit will include the company’s online lending platform, Marcus , and credit card business, the latter of which is done through a joint venture with Apple. billion seen in December 2018. That includes Marcus and the Apple Card. billion for the quarter that ended Sept. Yet Marcus has lost $1.3

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Bank Innovation

FEBRUARY 4, 2019

BBVA’s new Group CEO Onur Genç could barely get through a sentence during the bank's fourth-quarter earnings call without saying the word "digital."

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PYMNTS

JANUARY 7, 2020

That unit will include the company’s online lending platform, Marcus , and credit card business, the latter of which is done through a joint venture with Apple. billion seen in December 2018. That includes Marcus and the Apple Card. billion for the quarter that ended Sept. Yet Marcus has lost $1.3

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PYMNTS

FEBRUARY 26, 2020

Credit unions (CUs) are performing well as the new decade dawns, with a recent study finding that CUs increased their loan originations by 29 percent from Q4 2018 to Q4 2019. Though still strong, this industry growth has slowed in recent years, with another survey finding that total loans only increased by 6.6 percent in 2019, compared to 10.5

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Fintech Labs Insights

DECEMBER 1, 2021

With Brex’s arrival on the scene in 2018 followed by a meteoric rise to multi-unicorn status, there has been considerable attention to, and investment in business credit/charge cards ( see definition below ). Below is a ranked list of the 17 challenger business credit cards currently active in the United States. Review Date.

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Fintech Labs Insights

DECEMBER 1, 2021

With Brex’s arrival on the scene in 2018 followed by a meteoric rise to multi-unicorn status, there has been considerable attention to, and investment in business credit/charge cards ( see definition below ). Below is a ranked list of the 17 challenger business credit cards currently active in the United States. Review Date.

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PYMNTS

OCTOBER 12, 2018

As Wells Fargo seeks to cut costs while retooling its business for the age of digital banking, the company reported slightly better than expected revenues, but missed analysts’ earnings expectations for the third quarter. The bank reported revenues of $21.9 The bank reported revenues of $21.9

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Gonzobanker

JANUARY 16, 2018

The list of metrics that have changed dramatically is long, but we narrowed it to 10 across three channels: Digital. As a percentage of checking accounts, active online banking users grew 82% and active online bill payers increased 134% between 2007 and 2017. The growth of digital banking also impacted the contact center.

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CB Insights

AUGUST 2, 2018

One of the biggest trends in fintech today is the rise of digital banking products like mobile checking accounts and new debit cards. From Square to Paypal, a host of fintechs are creating products that let consumers spend money directly out of digital accounts using a physical card. mobile-first bank accounts.

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PYMNTS

DECEMBER 11, 2018

So-called online-only retailers — including Amazon — operate some 630 physical retail locations in the U.S., The Playbook also found that 73 percent of shoppers who paid remotely via smartphone first found the item they purchased online, and that 63.8 Digital Banking. That’s not to say physical retail is dying.

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PYMNTS

APRIL 7, 2020

percent from 2018 to 2019. Moving toward a digital experience is all the more urgent as the coronavirus pandemic has forced more interactions online amid extraordinary circumstances. Are CUs ready to embrace the digital transformation? Want another data point that offers food for thought? Keeping Score.

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PYMNTS

MAY 29, 2020

billion in 2018, a significant jump from the $406 million it cost them in 2017. They have long focused on detecting attacks that target particular products or channels, such as bad actors using stolen credit cards or data to take over online banking accounts. Fraud cost U.S. consumers nearly $1.5

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PYMNTS

OCTOBER 11, 2019

Money laundering has always troubled financial institutions, but today’s digital banking system creates additional complexities as fraudsters around the world take advantage of financial technologies to launder approximately $2 trillion annually.

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PYMNTS

MAY 6, 2019

The payments giant noted in a press release on Friday that Transactis’ payments technology — distributed through a network of bank and non-bank partners — can be used with both large enterprises and smaller companies (the latter operating across the educational and property verticals) to support online bill pay.

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PYMNTS

JUNE 7, 2019

As has been recounted in this space, the European Union’s SCA regulation looks to have hundreds of millions of consumers confirm they are who they say they are when they buy goods and services online. PetSmart aims to take its online venture public at a valuation of around $7 billion.

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PYMNTS

DECEMBER 19, 2019

No cards or account numbers are needed. A financial services company based in Istanbul, Turkey, Garanti BBVA was established in 1946 and is Turkey’s second-largest private bank with consolidated assets of nearly $84.3 billion as of June 30, 2018, its website indicates. The new feature is on the Garanti BBVA corporate mobile app.

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Fintech Labs Insights

JUNE 29, 2021

Enter the digital insurance challengers aiming to fill the gaps through simple online/mobile interfaces. NEW : Looking for digital banks, lenders or corporate charge/credit cards serving small businesses? Online Digital Banks for Small Businesses (SMB) June 2021. Simply Business (Travelers).

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PYMNTS

JANUARY 16, 2020

The language is not explicitly tied to recent activities from the Treasury Department (and specifically mandated by the Foreign Investment Risk Review Modernization Act passed by Congress in 2018). By opening access to China, digital banking, at least as rendered through wealth management, for example, may get a broader embrace. …

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PYMNTS

JULY 16, 2018

This week, the lucky winner is Macy’s , which disclosed to the world that hackers had obtained names and passwords of online customers — and might have accessed credit card numbers and expiration dates as well. Citizens Rolls Out Digital Bank.

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PYMNTS

JULY 13, 2020

Account takeovers (ATOs) are a growing source of pain for financial institutions (FIs) and their customers, with losses from these attacks rising 164 percent in 2018. This is a serious problem, as ATOs reportedly led to $4 billion worth of losses in 2018. FIs have therefore been working to upgrade their defenses against such attacks.

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PYMNTS

MARCH 25, 2020

Digital fraud continues to flourish, with recent surveys finding that security breaches have increased 67 percent since 2014 and 11 percent since 2018. The ECB recommended that banks work with third-party security contractors to keep themselves safe for the duration of the pandemic. billion last year.

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Fintech Labs Insights

JUNE 27, 2023

Enter the digital insurance challengers aiming to fill the gaps through simple online/mobile interfaces. NEW : Looking for digital banks, lenders, payment providers, insurance or digital accounting for small businesses? views (470 subscribers) Instagram : 2,400 followers TrustPilot : 4.6 (513

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Fintech Labs Insights

JUNE 29, 2023

Companies with a significant volume of credit/debit card payments rely heavily on payment processors to keep them afloat. Adyen FAB Score = 4,190 (down 340) – HQ: Amsterdam – Founded: 2006 – Went public June 2018 – Raised $1.4B Related: Top 18 Digital & Online Insurance Providers for Small Businesses (SMB): June 2023 Top 9 U.S.

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