PYMNTS

DECEMBER 27, 2019

Early innovators managed cooperatives using the same founding principle that CUs use today: members-first finance in place of indifferent, legacy-style banking. billion) and mortgages find most credits unions on solid footing as 2020 begins. But change is in the air, and it’s the intoxicating scent of digital transformation.

Digital Banking 130

Digital Banking Millennials Banking Trends Mobile 130

PYMNTS

JANUARY 6, 2020

Another group of Singaporean businesses, Beyond Consortium, has thrown its hat in the ring to apply for the country’s digital bank licenses. The Monetary Authority of Singapore will award five licenses for digital banking, which it plans to announce its decisions on in mid-2020.

Digital Banking 130

Digital Banking Groups Capital Industry 130

PYMNTS

OCTOBER 11, 2019

And, in digital banking, banks are innovating with their strategies for fraud protection and anti-money laundering (AML). 96 percent: Share of retail banks that plan to develop services focused on real-time payments by 2020. 50 percent: Share of Swiss consumers who currently bank online.

Trends 122

Trends Innovation Technology Marketing 122

PYMNTS

JULY 28, 2020

The cellphone is an invention; the smartphone is an innovation. That gap between creating something and putting it to ingenious use is where innovation does its magic. percent of executives at large CUs reported planning card issuance innovations for these reasons, respectively. Our study shows that 83.3 percent and 66.7

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Innovation Community Cards Fraud 140

PYMNTS

OCTOBER 8, 2020

Risk management platform Feedzai announced a 44 percent increase in growth for the first half of the fiscal year for 2020, which a press release says was one of the company’s most successful so far. The deals sometimes concerned big players, including “some of the largest and most innovative companies in the world (e.g.

Report 247

Report Fraud Risk Management America 247

PYMNTS

JANUARY 7, 2020

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.

Digital Banking 131

Digital Banking Capital Leadership Fintech 131

PYMNTS

JANUARY 6, 2021

And according to Doug Brown, senior vice president and general manager of digital banking at NCR , simplicity and innovation have turned what could have been a disastrous year into a transformational pivot for the better.

Innovation 318

Innovation Data Examples Community Bank 318

PYMNTS

JULY 29, 2019

With their joint venture set to end next year, First Data (now Fiserv) and Bank of America said on Monday (July 29) that they will pursue independent merchant services strategies starting in June 2020.

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Data America Strategy ATM 176

PYMNTS

JUNE 3, 2020

Many have been carefully coordinating their digital offerings to move away from outdated core banking infrastructures, but they must pick up the pace on their innovations. Confronting Digital Banking Reality. Forty-five percent of U.S.

Digital Banking 131

Digital Banking Mobile Tools Online 131

PYMNTS

APRIL 7, 2020

But the numbers tell a tale, and recent stats in the March 2020 Credit Union Innovation Index show the need for CUs to step up their efforts to innovate. CUs need to move beyond payments, said Fagan, and embrace what he termed a “full-scale, full-service approach to innovation.” percent to a recent 21.9 Keeping Score.

Innovation 142

Innovation Digital Banking Resources Apple 142

Perficient

MAY 26, 2021

In the session “Differentiating Your Brand for the Digital Era,” Scott will discuss how financial services companies can leverage digital technologies in new and innovative ways to create new value for consumers and businesses. Jamie Warder, EVP & Head of Digital Banking, KeyBank.

Fintech 462

Fintech North Carolina Charlotte Conference 462

PYMNTS

JANUARY 27, 2021

Financial institutions (FIs) around the world are confronting these issues with numerous digital implementations , as 85 percent of banks are offering some form of digital account opening, for example. This increased digital presence also brings a greater risk of digital fraud, however.

Security 213

Security Innovation Fraud Study 213

PYMNTS

JANUARY 31, 2020

However, the most intriguing development in the Open Banking world is not the impact of these two regulations inside of Europe, but outside of it. Other regulators in Australia, India and Singapore are examining financial innovation rules of their own, using GDPR and PSD2 as guidelines. Open Banking And The Race To Enter Singapore.

Digital Banking 136

Digital Banking Guidelines Regulation Data 136

PYMNTS

MARCH 26, 2020

What is a bank? But as of 2020, it is a subject upon which seasoned experts can disagree, in a world where traditional banks and FinTechs are operating in parallel in the market – and, in many cases, are offering similar services for consumers. “I But the FinTechs, Baird noted, are adapting and innovating around that issue.

Innovation 241

Innovation Fintech Data Examples 241

PYMNTS

NOVEMBER 20, 2019

Payments credit union PSCU is prepared to handle what they predict will be a rush in 2020 to adopt contactless cards, the company said in a press release on Wednesday (Nov. In 2020, PSCU anticipates distribution of more than three million new contactless cards to 100-plus credit unions.

Cards 117

Cards Risk Management Study Payments 117

PYMNTS

JULY 29, 2019

To accommodate this shift and the nation’s growing number of internet and smartphone users, tech giants like Amazon and Facebook are launching digital banking solutions focused on mobile devices. Other FIs are turning to chatbots as more consumers embrace digital banking, too.

Digital Banking 181

Digital Banking Fraud ATM Mobile 181

Bobsguide

MARCH 21, 2022

Finastra and Union of Arab Banks to accelerate digital banking together. Partnership will see the development of a model digital bank, licensed to Union of Arab Banks members to help them transition into digital banking. However, resource management remains a central challenge.

Digital Banking 60

Digital Banking Innovation Community Regional 60

Bank Innovation

APRIL 26, 2019

Capital One Financial plans to complete the exit from its data centers and to go fully into the public cloud by the end of 2020, Chairman and CEO Richard Fairbank said during the bank’s first-quarter earnings call on Thursday. based bank is expecting its full-year operating efficiency ratio to improve to 42% in […].

Capital 170

Capital Operations Data Digital Banking 170

PYMNTS

AUGUST 9, 2019

million for the quarter, but Bottomline remained confident in growing revenues for FY 2020 thanks to new customer sign-ons that have yet to go live. We had notable customer wins across our banking and business payments platforms as customers continued to choose Bottomline for innovative and highly secure business payments solutions.

Data 134

Data Analytics Digital Banking Cards 134

PYMNTS

DECEMBER 31, 2020

Like their cousins in banking, credit unions (CUs) long enjoyed a relaxed pace of technological change. Consumers waited on financial institutions (FIs) to innovate in an odd relationship that put business needs before customers’ needs. It was all on their timetable. Not anymore. CUs Are Going Next-Gen.

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Survey Arizona Innovation Innovation Strategies 235

Bank Innovation

FEBRUARY 21, 2020

In this episode, editors discuss the following news developments: Implications from LendingClub’s acquisition of Radius Bank; How Ally’s acquisition of the non-prime lender CardWorks boosts the bank’s long-term plans; and The launch of digital banking startup Level […].

Fintech 243

Fintech Digital Banking Customer Experience Innovation Strategies 243

PYMNTS

JANUARY 26, 2021

Chuck Fagan, president and CEO of PSCU , reflects on the challenges of 2020 and looks ahead to what 2021 will bring. 2020 was a year like no other, yielding unprecedented challenges as the United States faced a global pandemic and civil unrest, among other unexpected events.

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Strategy United States America Meeting 173

PYMNTS

JULY 1, 2020

“Migrating to cloud- and AI-based solutions could help FIs handle growing calls for faster banking tools during the COVID-19 pandemic, and recent trends show they are beginning to do so,” according to PYMNTS’ June 2020 Digital Banks And The Power Of The Cloud Tracker® done in collaboration with NuoDB.

System 268

System Digital Banking Tools User Experience 268

Bobsguide

FEBRUARY 22, 2022

Through focused, innovative products, services, and a redefined operating model, BDB has been stimulating and driving entrepreneurial activity in the country. The bank was looking for a modern, digital banking solution that would help it transform customer engagement through the delivery of contextual experiences.

Innovation 78

Innovation Customer Experience Strategy Operations 78

NCR

MARCH 22, 2017

The good news is that, at branches across the country, digital innovations can already transform brick and mortar branches into mobile-first, immersive help centers – improving the customer experience and increasing employee productivity while ensuring data remains secure. By 2020, it could be as many as 50 billion. The result?

Millennials 49

Millennials Innovation Digital Banking Security 49

PYMNTS

JANUARY 25, 2021

The banking industry is still grappling with the pandemic’s unprecedented effects, including a broad digital shift across numerous sectors. This increased digital engagement can create challenges, however, as it opens up new avenues for fraud in addition to making transactions more convenient for customers.

Fraud 235

Fraud Digital Banking Missouri Trends 235

PYMNTS

MAY 29, 2020

In the May edition of the Digital Banks And The Power Of The Cloud Tracker , PYMNTS examines how both legacy and challenger FIs are using cloud technologies to enhance their online offerings. Moneybase itself is set to launch at an undisclosed date later in 2020, and it will be completely cloud-based, according to its parent company.

Digital Banking 230

Digital Banking Innovation Online Technology 230

PYMNTS

DECEMBER 30, 2020

If there’s a word that captures the state of financial services in 2020, it’s “acceleration.” At Mastercard , Executive Vice President of North America Products and Innovation Jess Turner told Karen Webster in a recent discussion, the rapid acceleration has been pushed by what consumers both wanted and needed more than ever.

Payments 281

Payments Innovation America Mobile 281

PYMNTS

DECEMBER 28, 2020

Consumers, businesses and financial institutions (FIs) cannot wait to bid adieu to 2020, which has been one of the most trying years in recent memory. Many CUs have since leaned into these efforts with digital innovations aimed at a range of issues, such as tackling fraud or enhancing members’ remote banking access.

North Carolina 197

North Carolina Houston Fraud Innovation 197

PYMNTS

FEBRUARY 18, 2020

The PSCU company Lumin Digital has signed Bartlett, Tennessee-based First South Financial credit union to a multi-year digital banking and cloud computing agreement, Lumin announced on Tuesday (Feb. The new platform should be available to First South Financial customers in June of 2020.

Tennessee 206

Tennessee Mississippi Digital Banking Payments 206

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. Competition to be one of the lucky five increased at the start of 2020. APIs and open banking growth.

Digital Banking 185

Digital Banking Innovation Maine Regulation 185

PYMNTS

MAY 29, 2020

We have deep dives on Main Street’s digital shift, ATM innovation and PPP loans. FIs Or FinTechs: Who Will Power Banking’s Big Digital Shift? The pandemic has sped up the digital roadmap for everyone in financial services, providing for more innovation in the last few months than had been seen during several years.

Maine 130

Maine ATM Innovation Millennials 130

PYMNTS

JANUARY 15, 2021

In today’s top digital-first banking news, Goldman Sachs has selected FinTech startup Marqeta to power digital checking accounts for Marcus, while California credit card startup X1 notched $12 million in a funding round headed up by Spark Capital. economy had moderate gains in the pandemic year of 2020.

Cards 152

Cards California Capital Tools 152

PYMNTS

JULY 22, 2020

In the July Digital-First Banking Tracker® , PYMNTS explores the latest in the world of digital-first banking, including the long-lasting effects brought on by the pandemic, the shifting attitudes surrounding ATM use, and how the digital banking development field is reaping dividends from the financial industry’s sea change.

ATM 225

ATM Digital Banking Alabama Study 225

Banking 2020

JULY 24, 2015

Reality checks for community banks switching to a digital model: There is a lot of talk about digital banking however, not all digital banking falls under the same umbrella. Community banks must examine what cultural, operational and marketing shifts will happen when they adopt digital banking initiatives.

Digital Banking 40

Digital Banking Innovation Payments Community Bank 40

PYMNTS

JANUARY 28, 2021

PYMNTS recently reported Federal Trade Commission (FTC) figures finding, “More than 200,000 Americans were scammed out of $145 million relating to the pandemic since the beginning of 2020.” Of those willing consumers, 40 percent like fingerprint-based biometrics on banking apps, “while one-quarter preferred facial recognition technology.”.

Fraud 244

Fraud Survey Digital Banking Security 244

The Financial Brand

JANUARY 3, 2021

A look at the digital banking trends of the last year provides a perspective for future strategies and organizational changes. The post Retail Banking Year in Review 2020: A Reflection in 20 Charts appeared first on The Financial Brand.

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Retail Banking Trends Strategy Digital Banking 43