Bank Innovation

Smaller banks innovate ways to handle PPP volume in the ‘scramble’ 

Bank Innovation

The Small Business Administration launched its Paycheck Protection Program loans more than a week ago and banks have been racing to keep up with the volume ever since. Rapidly deployed automation technologies are helping community and regional banks keep up with the deluge of applications.

Digital-only financial institutions avoid leveraging pandemic fears 

Bank Innovation

The novel coronavirus may be closing bank branches nationwide, but some digital-only financial institutions are trying not to exploit consumer fears.

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Fraud risk could run to billions in PPP loans

Bank Innovation

Last week saw banks and fintechs scrambling to stand up platforms to process Paycheck Protection Program loans, and now the struggle is to keep the platforms running while weeding out potentially fraudulent applications. Fraud is a common trend with government relief programs.

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Where will you be when the COVID-19 music stops?

Bank Innovation

Let me start this piece with a disclaimer. This is an article telling banks to spend money on technology, and I’m a guy running a company that benefits when banks spend money on technology. So, it’s fair to say that I have some pretty heavy inherent bias.

The Best Sales Forecasting Models for Weathering Your Goals

Every sales forecasting model has a different strength and predictability method. It’s recommended to test out which one is best for your team. This way, you’ll be able to further enhance – and optimize – your newly-developed pipeline. Your future sales forecast? Sunny skies (and success) are just ahead!

Digital banks, payments startups face first major test in virus

Bank Innovation

Fintech startups looking to upend how Americans do their banking are facing their first major test as interest rates fall and fearful consumers seek safety at traditional banks. Square Inc. and Stripe Inc.,

PPP confusion prompts banks to revert to manual processes

Bank Innovation

Lenders participating in the SBA’s Paycheck Protection Program are trying to find a balance between speed and diligence.

Figure VP Tony Morosini to speak at Bank Innovation Ignite

Bank Innovation

Tony Morosini, vice president of banking and payments at Figure, will attend and speak at Bank Innovation Ignite on March 2-3 in Seattle.

Confusion muddles PPP loan forgiveness processes 

Bank Innovation

Banks scrambling to process Paycheck Protection Program loans will soon have to parse borrowers’ spending data to determine whether those loans will become grants.

BofA integrates digital SMB tool with third-party platforms 

Bank Innovation

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B2B Pocket Playbook: End-to-End Guide to Sales Enablement

Sales enablement is the strategic process of providing sales teams with the content, guidance, and mentorship needed to engage targeted buyers. It’s all about equipping sales professionals with the tools they need to put their best-selling foot forward. And if sales teams want to continuously sell better -- and faster -- their sales enablement process must have a game-winning strategy. It's time for you to start selling smarter - and hitting your sales number - with the best B2B database in the market. Get started today.

Are banks having a kodak moment? Lessons from a fallen giant

Bank Innovation

Giants have fallen when they reacted too slowly to changing consumer needs. Kodak, despite developing the first digital camera, did not believe digital photography would dominate the market, and therefore did not leverage the opportunities their discovery offered.

Bank of America gained 418 technology patents in 2019

Bank Innovation

Bank of America obtained more patents last year than any other year in the history of the company. In 2019, company obtained 418 patents, a 31% increase over the prior year. According to the bank, patents protect the bank’s tech investments.

HSBC to launch robo-adviser and payments products this year

Bank Innovation

As digital challenger banks expand their product suites, large players like HSBC are quickly evolving their digital offerings to attract and retain customers.

Temenos to help US clients launch digital banks in 90 days

Bank Innovation

The race to create a challenger bank just got more competitive with a ready-made solution from core provider Temenos that can help brands stand up a digital bank in as few as 90 days.

Pressure Points: How to Ensure Your B2B Pipeline Passes Inspection

This eBook highlights best practices for developing a pipeline management process that helps sales leaders and their team C.L.O.S.E (you’ll see what we mean in this eBook) more revenue through data-driven prospecting, stage analysis, and subsequent sales enablement.

University of Toronto launches fintech bootcamp to meet local labor demand

Bank Innovation

With nearly 200 startups, five major banks, 19 venture capital firms and representation from large tech companies like Google, Facebook, PayPal, Toronto is quickly becoming a center for fintech entrepreneurship.

AvidXchange eyes acquisitions after latest funding round

Bank Innovation

AvidXchange is eyeing additional acquisitions and scalability after scoring an additional $128 million in equity capital on the heels of its $260 million funding round in January, CEO Michael Praeger told Bank Innovation. The company automates invoicing and outgoing payments for the B2B market.

TSB’s virtual assistant launched in five days through IBM 

Bank Innovation

based TSB Bank gave its customer service a five-day makeover in the midst of the global pandemic with the launch of its “Smart Agent” chat function, helped by its technology partner IBM Services.? “We

Mexican digital bank Stori aims to assist the underbanked

Bank Innovation

Digital bank Stori, which is based in Mexico City, aims to reach customers with minimal access to financial services. Recent research highlights the problems the bank is attempting to solve.

Marketing-Led Post-COVID-19 Growth Strategies

Businesses are laying off workers, shutting their doors (some permanently), and struggling to react to the radical destruction that coronavirus (COVID-19) is doing to our society and communities. Most have already sustained massive damage, and we still have yet to see the scope of impact of the global pandemic that has upended the globe. Any return to normalcy may seem far-off, but sales and marketing are on the front lines of restarting the economy. When the dust settles, we have a responsibility to turn our shock and grief into fierce determination, and lead the charge of responsible, strategic, sustainable future growth. However, there’s no team better suited to lead that charge than the marketing department. Marketers are uniquely positioned to provide creative solutions to aid their organization in times of change and chart a course for navigating success.

Mastercard turns to AR to visualize loyalty benefits

Bank Innovation

Payments giant Mastercard launched a new augmented reality (AR) app this month that lets cardholders get a bird’s-eye view of their benefits. It’s a move that the company hopes will drive engagement and loyalty, and add value to the offerings of its partner financial institutions. “At

Fresh off new funding, LenderClose looks to double its team 

Bank Innovation

LenderClose, a platform that consolidates data sets for loan underwriters, is using a new round of funding to more than double its team by the end of the year.

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How digital-only First Internet Bank strives to keep Indiana talent

Bank Innovation

As banks and startups on both coasts compete for new graduates, Fishers, Ind.-based based First Internet Bank is using an internship program to keep talent in the Midwest. The program, which lasts a few months, sources talent from local universities.

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.

How ZoomInfo Helps Overcome the Top Pain Points of Inside Sales

Recent digital transformation has shifted the B2B landscape by ushering in the era of buyer empowerment. With more access to user reviews, analyst opinion, and industry research, decision-makers are more informed than ever while navigating what is now known as the “buyer’s journey.”

BMO’s Ben Schack on what’s next for bank-fintech collaborations

Bank Innovation

BMO Harris partners with fintech startups through the BMO Harris Bank 1871 Innnovation Program. The bank usually works with five to seven firms each year and announced its third cohort of startups last October.

Banking ‘brain’ developer Kasisto raises $22M to expand

Bank Innovation

While the hype around chatbots and digital assistants may have reached a crescendo years ago, banks and the technology companies serving them are now investing in the “brains” behind digital conversational assistants, which can be applied across many use cases, including chat and voice.

B2B fintech Biller Genie helps banks automate business payments

Bank Innovation

Business payment startups and banks are rushing to offer clients the same kind of intuitive, automated payment experience that consumers have come to expect from their favorite personal finance apps.

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Financial app Qapital hacks the psychology of spending

Bank Innovation

At first glance, New York-based Qapital, a digital banking, investing and budgeting platform, might look like a challenger bank. But CEO and co-founder George Friedman says Qapital’s offerings are more than just a collection of financial products. To Qapital, which launched in the U.S.

Marketing Ops: The New Revenue Hero

As data continues to play a starring role in today’s B2B organizations, both marketing and sales operations professionals are poised to solidify their place as critical revenue drivers. In particular, the evolution of the Marketing Operations (Ops) role has created a new standard in marketing and has become a vital component of an organization’s success.

Radius Bank leads with PPP forgiveness solution   

Bank Innovation

Radius Bank is standing up a Paycheck Protection Program loan forgiveness tool, even as many banks feel left in the dark by the Small Business Administration, which hasn’t yet released details on how the process will work.

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BMO Harris spotlights women in fintech mentoring program

Bank Innovation

BMO Harris Bank and Chicago-based incubator 1871 have unveiled plans for their annual fintech mentorship program, and this year they are shining a light on female-led fintechs.

Mastercard wins approval to join China’s $27T market

Bank Innovation

Mastercard Inc. won approval to set up a bank card clearing business in China, gaining access to a $27 trillion payments market as part of the nation’s financial opening.

Challenger bank HMBradley sees opportunity in pandemic

Bank Innovation

Challenger bank HMBradley launched this week in the face of global uncertainty, with the backing of PayPal founder Max Levchin, and already has about 25,000 waitlisted sign-ups, according to CEO Zach Bruhnke. “We

What We Learned From Our Own Data-Driven ABM Strategy

ZoomInfo has created the following eBook to help other B2B organizations gain insights on how to launch their own data-driven ABM strategy. In this eBook, we will reveal the good and the bad from our own campaign and highlight some key takeaways on how to improve your ABM strategies moving forward.