PYMNTS

AUGUST 21, 2020

JPMorgan Chase plans to launch a digital bank in the United Kingdom early next year, Sky News reported Friday (Aug. The move “will enable it to capitalize on the accelerating transition of millions of bank customers from branch-based activity to digital services during the COVID-19 pandemic,” the news outlet said.

Report 173

Report Digital Banking Lending Technology 173

PYMNTS

JULY 21, 2020

Open banking is appealing to financial institutions (FIs) and regulators in many markets, even as the pandemic sweeps across the world. Regulators in other regions, including Latin America, are also shaping and announcing plans to enable open banking and better support digital financial systems.

Mobile 229

Mobile Report America Regulation 229

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.

America 165

America Regulation Regional Tools 165

PYMNTS

SEPTEMBER 12, 2019

Compliance failures are prevalent worldwide: Approximately $26 billion worth of fines were levied against banks for AML, KYC and sanctions noncompliance between 2008 and 2018. billion — 91 percent — of those penalties, while European regulators demanded $1.7 Can AI Support Digital Banking’s AML Efforts? .

Fraud 189

Fraud Fintech Compliance Regulation 189

PYMNTS

OCTOBER 23, 2020

million in 2018 and was valued at $170 million, according to PitchBook. Mike Belshe , BitGo's chief executive officer, founded the company in 2013 to offer highly secure digital wallets for crypto, which need multiple signatures for transactions. PayPal might also go with another target to purchase. BitGo raised $58.5

Bitcoin 268

Bitcoin cryptocurrency New York Regulation 268

PYMNTS

DECEMBER 1, 2019

In December 2018, it became the first P2P lender to be granted a conditional banking license by the Financial Conduct Authority (FCA), with plans for its digital bank offering to include a fixed-term savings product, a credit card and a money management app. since its inception.

Digital Banking 142

Digital Banking Capital Regulation Lending 142

PYMNTS

FEBRUARY 3, 2020

Banking is no longer just for traditional FIs, thanks to open banking’s spread. Digital banking development is poised to explode in Singapore, where legacy institutions have traditionally dominated. APIs are critical, as they enable further digital banking connectivity.

Digital Banking 185

Digital Banking Innovation Maine Regulation 185

PYMNTS

JULY 8, 2020

The Chinese financial services company was valued at $150 billion in a 2018 fundraising round. Also in January, Ant was reportedly seeking a wholesale digital banking license in Singapore , with a capital commitment of $100 million. At the time, Credit Suisse and China International Capital Corp.

Groups 175

Groups Report Capital Regulation 175

PYMNTS

JULY 24, 2020

Open banking is often associated with the European Union (EU) almost by default as the region pushes the envelope further on regulation than anywhere, partly to encourage — but also to keep up with — imaginative FinTech innovators going to market throughout the Eurozone. Similarities To The EU.

America 168

America Regional Regulation Fintech 168

PYMNTS

MAY 3, 2020

Bó , the digital bank developed by U.K. High Street lender Royal Bank of Scotland (RBS), is being closed down by the British state-backed lender NatWest, following a six-month opening launch, according to a Yahoo Finance UK report.

Branding 181

Branding Resources Digital Banking Regulation 181

PYMNTS

JANUARY 20, 2021

In broad strokes, open banking lays out a path and process for banks and other financial institutions (FIs) to share their customers’ data with third parties (even competitors), where that data tie into apps and new products and services. million in 2018 to roughly 6 billion in 2020. Open Banking In The States .

Data 188

Data Innovation Fintech Regulation 188

PYMNTS

FEBRUARY 24, 2020

Financial institutions (FIs) and merchants from other regions have been dipping their toes into the Chinese market, but open banking has compounded the difficulty involved in setting up operations. The country’s government and regulators are keeping pace with those in the European Union and the U.S. he remarked. “I

Regulation 160

Regulation Policies Data Compliance 160

CB Insights

MARCH 8, 2018

Digital banking startups — or challenger banks — have gained traction over the past few years by bringing retail banking services mobile. Banks in Fintech: what’s ahead in 2018. Join us for data-driven look at how major banks are approaching fintech investments and taking on insurgents.

Retail 78

Retail Digital Banking Fintech Regulation 78

PYMNTS

APRIL 30, 2018

Digital banks. According to a Crunchbase article published in February of 2018, investments in blockchain and blockchain-related startups (excluding initial coin offerings, or ICOs) were already 40 percent of what they were in 2017. billion in 2018 growing to $1.1 billion in 2018 growing to $1.1 Blockchain.

Fintech 183

Fintech blockchain Lending Digital Banking 183

PYMNTS

JANUARY 11, 2021

British challenger bank Revolut has submitted a banking license application to the U.K. Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA). license for financial services will enable it to offer banking products “U.K. customers expect from their everyday primary bank account.” .

cryptocurrency 216

cryptocurrency Leadership Bitcoin Fintech 216

PYMNTS

DECEMBER 27, 2019

percent market share for global advisory fees in 2018, which Pinto said the institution could improve on, although it would be difficult. He said the challenges came in the form of lending money, which became much more expensive to do after new regulations were put in place. Chase reached 8.7

United States 153

United States cryptocurrency Digital Banking Google 153

PYMNTS

AUGUST 29, 2019

Bank-FinTech collaboration has been on the rise in the U.S., the regulatory and competitive climate has opened the doors for a flood of challenger banks, many of which target the small business customer segment in direct competition to traditional banks. banking operations. whereas in the U.K., Now, the U.S.

Fintech 173

Fintech Innovation Lending Digital Banking 173

PYMNTS

FEBRUARY 14, 2020

Its digital wallet was introduced in October of 2018, enabling users to do things like pay bills, send money internationally and share or transfer money with people they know. Almoayed has helped Moven to deal with rules and regulations for banks in the area. STC Pay also has a partnership with Western Union.

Regional 222

Regional Google Financial Technology Capital 222

PYMNTS

DECEMBER 27, 2019

percent market share for global advisory fees in 2018, which Pinto said the institution could improve on, although it would be difficult. He said the challenges came in the form of lending money, which became much more expensive to do after new regulations were put in place. Chase reached 8.7

United States 136

United States cryptocurrency Digital Banking Google 136

PYMNTS

OCTOBER 29, 2018

As a result of the passage and adoption of open banking regulations, like PSD2 in Europe, banks and other financial firms are sharing data more freely than ever before. Adapting To Open Banking . The resulting transactions brought about by open banking aren’t the only digital fraud concerns for banks.

Security 192

Security Fraud Tools Data 192

PYMNTS

NOVEMBER 16, 2020

In today’s top news in digital-first banking, Mastercard has added a new account-to-account (A2A) product to its Track Business Payment Service, while Recognise has received a restricted banking license from U.K. regulators. UK's 'Recognise' Gets Its Restricted Banking License.

Payments 130

Payments cryptocurrency Cards Regulation 130

PYMNTS

JANUARY 13, 2020

In today’s top payments news, Wells Fargo is trying to revamp its approach to technology to appease regulators, and Goldman Sachs finally launches a mobile app for its online-only bank, Marcus. 8, three years after launching the digital-only bank. Mattress Maker Casper Files IPO After $92M Loss In 2018.

Mobile 131

Mobile Payments Regulation Resources 131

Chris Skinner

DECEMBER 5, 2017

I’ve recently noted a number of reports about Open Banking, with many published recently due to its imminent arrival on January 13, 2018. Source: IBM As can be seen, we have several different groups working on Open Banking.

Groups 340

Groups Payments Report Digital Banking 340

PYMNTS

AUGUST 7, 2019

Financefeeds reported that the HKMA, in its latest update to implementation of the Open Application Programming Interface (API) Framework for the banking sector, which dates back to July 2018, is readying for the second phase, known as Customer acquisition.

Digital Banking 129

Digital Banking Fintech Millennials Data 129

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. Such profiles ensure FIs comply with current regulations and AML standards.

Strategy 123

Strategy Innovation Fraud Security 123

PYMNTS

JULY 29, 2019

The debit card was introduced early in 2018 in Europe. Glint Pay users use a bank account to purchase actual gold held in a vault in Switzerland, and the company charges a 0.5 Glint Pay users use a bank account to purchase actual gold held in a vault in Switzerland, and the company charges a 0.5 percent transaction fee.

Cards 191

Cards Colorado Denver Fintech 191

PYMNTS

JUNE 13, 2019

Fighting bad actors is particularly challenging for those in the banking industry, which lost more than $31 billion to fraud in 2018 and is projected to lose even more as cybercriminals become more sophisticated. The bank implemented a data-based fraud detection initiative in 2018 to help combat this problem with false positives.

Fraud 128

Fraud Analytics New Jersey Data 128

PYMNTS

MAY 23, 2019

Digital banking is not the main element that drives consumers toward using a credit union. However, as Lumin Digital President Jeff Chambers told Karen Webster in a recent conversation, that doesn’t mean the digital banking experience isn’t critical to credit unions’ relationships with their members.

Online 123

Online Millennials Digital Banking Maine 123

PYMNTS

JUNE 24, 2020

million) from new and existing investors in two funding rounds since applying for the banking license in 2016, and it added several former banking executives to create a board. At the time, Zopa said it raised £60 million ($67.7

Security 215

Security Capital Cards Report 215

Insights on Business

OCTOBER 11, 2018

This movement — core to cloud — is essential for banks seeking to modernize their legacy systems and become agile and flexible. This is especially true if they’re going to compete with new digital banks and platform companies that are unhindered by the legacy applications and infrastructure. IBM at Sibos 2018.

Meeting 111

Meeting Customer Experience System Guidelines 111

Insights on Business

OCTOBER 17, 2018

Ten speakers on stage at Sibos 2018. While you are there, explore how IBM LinuxONE and Temenos work together to provide a “one-stop-shop” for modernizing core banking systems. Learn about the benefits of the The LinuxONE T24 Digital Banking Platform: Optimized architecture for Temenos T24 and Temenos core modules.

blockchain 110

blockchain Video Compliance Meeting 110

The Paypers

JUNE 7, 2017

(The Paypers) Atom , a UK-based digital bank, has postponed plans to release current account, at least until 2018 because of forthcoming regulations.

Digital Banking 28

Digital Banking Regulation 28

PYMNTS

MAY 30, 2018

For instance, PagSeguro — a Brazil-based provider of digital payment services — reported a 107 percent year-over-year revenue increase this week for the first quarter of 2018, beating analyst expectations and the impact of a labor strike. Positive signs are coming from homegrown players in the Latin American economy. million in Q1.

America 109

America Regional Mobile Pennsylvania 109

CB Insights

FEBRUARY 20, 2020

In 2018, companies from 31 countries and 19 categories — spanning payments, digital banking, insurance, and more — made it onto the CB Insights 2018 Fintech 250 list. Below, we dive into where the Fintech 250 Class of 2018 startups are now. Highlights from the fintech 250 Class of 2018. Phone number.

Fintech 80

Fintech US Lending Cards 80

PYMNTS

JANUARY 20, 2020

Digital deposits were strong across existing and new customers, with the total at $6 billion for the year, versus the $1 billion that was raised in 2018, as detailed by CFO Mark Mason. Spending, Done Digitally. In the U.S., billion, and where for the quarter, growth was up 17 percent year over year.

Cards 134

Cards America Course Mobile 134

PYMNTS

SEPTEMBER 19, 2019

FIs are also offering more ways for customers to enroll, such as through mobile, with 36 percent of banks and credit unions now offering end-to-end mobile account opening features for users. Fraud tends to go where users are, and there was a 117 percent increase in overall mobile fraud in 2018.

Fraud 144

Fraud Data Mobile Tools 144

PYMNTS

NOVEMBER 6, 2019

JPMorgan’s wholesale payments sector was responsible for 10 percent of the company’s $109 billion in 2018 revenue, the report noted. . Over the next five years, banks could lose 15 percent of revenue — an estimated $280 billion — in the payments space due to rivalry from non-banks, according to a September report from Accenture.

New York 103

New York Payments Fintech Report 103