Advance America Teams With Western Union For Money Transfer Tools

PYMNTS

Financial services platform Advance America is partnering with cross-border payment firm Western Union Company to expand its suite of payments solutions. Advance America will bridge its digital and retail infrastructure to Western Union’s platform capabilities.

America’s Banks Celebrate America’s Vets

ABA Community Banking

In honor of our veterans, the ABA Banking Journal is sharing several stories from America's Banks of how banks serve and employ those who have served. The post America’s Banks Celebrate America’s Vets appeared first on ABA Banking Journal.

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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. Artificial Intelligence Automation Blockchain Carousel Daily Post 2 Innovation Strategy Payments Product Design Retail Banking Bank of America patentsIn 2019, company obtained 418 patents, a 31% increase over the prior year. According to the bank, patents protect the bank’s tech investments.

Bank of America Redesigns App for iPad

Bank Innovation

Bank of America has redesigned its mobile app for the iPad. Exclusive Innovations Mobile Online Open Fintech Payments Premium Apple Bank of America Bank of America Merrill Lynch Erica iPad JPMorgan Chase ZelleThe new tablet design now mirrors the look and functionality of the BofA iPhone mobile banking app.

The State of FinTech in Latin America

Chris Skinner

I’m off to Chile next week and thought, in preparation, I’d look at the state of FinTech in Latin America. Equally, I meet a lot of the … The post The State of FinTech in Latin America appeared first on Chris Skinner's blog. So far, I’ve spent fair time in Colombia, Brazil and Argentina, and see these as the three major centres of activity along with Mexico.

Latin America: An ecommerce economy on the rise

Mobile Payments Today

Latin America presents a growing regional economy, however the payments and ecommerce industries present unique challenges

Enabling e-commerce and m-commerce in Latin America

Mobile Payments Today

The e-commerce market in Latin America presents enormous potential for retailers. Despite the possibilities, there are a number of unique challenges that retailers and payments companies need to be aware of before making such a commitment

Bank of America: Spending Up Over 2019 Despite Virus Acceleration

PYMNTS

Bank of America customers are spending more across all accounts than they did last year, but more stimulus is needed to support small businesses and people who are unemployed, according to CEO Brian Moynihan.

Berkshire Hathaway Buys 11.3 Pct Of Bank Of America Shares

PYMNTS

Berkshire Hathaway , the Warren Buffett-helmed conglomerate that owns Geico , upped its stake in Bank of America (BoA) by over $800 million, in what the Financial Times (FT) reported is a vote of confidence in the lagging U.S.

Bank of America’s Khawaja: Automation represents $7T opportunity

BankInovation

It's a massive opportunity,” said Salah Khawaja, managing director of automation and global risk for Bank of America, at the recent AI Business Week Symposium. Center of Excellence Bank of America data platform Premium

Bank of America customers sent $27 billion through Zelle in Q1  

Bank Innovation

Bank of America customers are shifting toward digital tools. Paul Donofrio, Bank of America’s chief financial officer, said in a statement that despite the […]. Carousel Customer Experience Innovation Strategy Lending Payments Premium Retail Banking Bank of America Coronavirus PPP SBA Zelle

Bank Of America Sees Personalized Video As Key To Rewards-Program Loyalty

PYMNTS

When Bank of America Rewards Executive John Sellers glanced at his in-house numbers over the last year, the evidence was plain to see. What Bank of America has seen over the few years of integrating video into its digital customer journey is that it’s increasingly able to deliver on all three.

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Bank of America Lays Foundation for Merchant Payments-Focused Lab

Bank Innovation

EXCLUSIVE – After its recent partnership with digital product Innovation Company Stuzo, Bank of America’s merchant services business is laying the foundation for an innovation lab. “It It [the partnership] helps us have a conversation with our merchants about their overarching goals,” Michael Roberts, chief marketing and digital strategy officer of Bank of America Merchant Services […].

America: a nation living in the 20th Century

Chris Skinner

These days, in … The post America: a nation living in the 20th Century appeared first on Chris Skinner's blog. When did you last write a check (cheque)? When did you last receive one? Although a valid payment mechanism in some countries, it has been phased out in many. Finland stopped using checks in 1993, Poland in 2006 and the Netherlands from the start of next year.

Remote Work Hasn’t Stopped Bank Of America Inventors From Filing Record Patents

PYMNTS

A record number of patents were filed by Bank of America inventors, with 722 applications filed with the United States Patent Office last year, the most in the bank's history, the bank said in a Thursday (Feb. Innovation Bank of America Editors' Picks News What's Hot

Mobile users drive deposit growth at Bank of America

Bank Innovation

For Bank of America, mobile and digital channels are sustaining its retail business. Carousel Customer Experience Retail Banking Wealth Management Bank of AmericaIn a third-quarter earnings call Wednesday, CEO Brian Moynihan stressed the importance of digital banking offerings that are complemented by human support. Customers continue to transact and interact with us in person, as well as through the digital channel,” he said. “We We […].

Zelle Use Surges at Bank of America

Bank Innovation

EXCLUSIVE – Bank of America had five million transactions via the digital payments service Zelle in October alone, an amount 35% higher than the average 3.7 Exclusive Mobile Online Open Fintech Payments Retail Bank of America P2P P2P payments PayPal Square Cash Venmo Zellemillion transactions per month the bank reported in September 2017. Yesterday evening, the bank announced that it processed a total of $1.5 billion dollars through Zelle in the month of […].

Bank of America Sees “Overwhelming” Growth in Zelle Numbers

Bank Innovation

EXCLUSIVE — It’s another great quarter for Bank of America in terms of number of users of its P2P payment app Zelle. Exclusive Mobile Payments Bank of America Early Warning P2P payments Venmo ZelleThe bank just released numbers for the Zelle app in Q4’17 that shows it processed more than 23 million transactions amounting to almost $7 billion. That’s a 91% increase from the prior year […].

Latin America Entices B2B FinTech Investors

PYMNTS

It was a big week for B2B FinTech startups in Latin America. “Latin America is a highly attractive growth market for us, and the acquisition of Omni will significantly expand our capabilities in this important region,” the firm’s Founder and CEO Lex Greensill said in a statement. The new funding, the company noted, will enable the firm to expand throughout Latin America as it steps in to support the region’s SMBs amid the pandemic.

Bank Of America Expands SWIFT gpi, Intros CashPro Cross-Border Payment Tracker

PYMNTS

Bank of America (BofA) is introducing a cross-border payment tracker and expanding SWIFT gpi to support more than 140 currencies, accessible through the integrated CashPro platform. Customers can make payments via Bank of America’s SWIFT gpi solution.

Bank of America Merrill Lynch’s API Gateway Seeks to Connect EMEA Clients with Fintechs

Bank Innovation

EXCLUSIVE- Echoing the mandate of PSD2, Bank of America Merrill Lynch today unveiled an API gateway that seeks to connect its commercial clients to fintechs and other third-party vendors. Bank of America Merrill Lynch […]. Commerce Compliance Corporate Exclusive Open Fintech Payments APIs open banking Bank of America fintech Merrill Lynch Open API

Don’t look to America for innovation

Chris Skinner

I recently wrote this piece for Raconteur’s Sunday Times supplement, and thought it might interest The Finanser’s readers: ‘When we in the West look to America for innovation, we are looking the wrong way’ I often talk about the world of change we are going through and how Europe and America are … The post Don’t look to America for innovation appeared first on Chris Skinner's blog.

Latin America's digital transformation can be a global model

Payments Source

Latin America's rapidly expanding fintech sector may prove to be the guiding light as we look to establish a widely accessible digital financial ecosystem. Latin America Digital payments Coronavirus Financial inclusion

Bank of America Back on Windows

Bank Innovation

After a yearlong absence, Bank of America’s mobile app is now available on Windows mobile devices. Innovations Mobile Online app Bank of America Microsoft Windows Windows 10BofA announced last year that starting “early” March 2015 it will no longer support its mobile app on Windows 10 Mobile, Windows Phone 8.1, and Windows Phone 8 mobile devices, suggesting customers access their accounts online. The app Read More.

Serko Rolls Out Expense Management Tool In North America

PYMNTS

Corporate travel and expense management solution provider Serko has launched its Zeno Expense tool in North America, giving customers a new option for B2B travel management, a press release on the company website stated, alongside the company's Zeno Travel tool that was already available.

MercadoLibre: The ‘Amazon Of Latin America’ Spreads Its Wings

PYMNTS

In Latin America, such a company exists in the form of MercadoLibre , a triple-threat regional financial powerhouse based in Argentina. It now operates in 18 countries in Latin America. According to eMarketer, eCommerce made up about 4 percent of the total spent last year in Latin America, due mostly to its cash-heavy economy. I would say the most relevant variables across Latin America are banking penetration and credit card penetration,” Gimenez noted.

Bank of America Reports Strong Mobile Growth, Especially Deposits

Bank Innovation

As previously reported on Bank Innovation, mobile banking is the top area of innovation banks in which are spending money—and it appears to be working, with Chase and Wells Fargo both reporting accelerated growth in mobile users last week, and with Bank of America also reporting strong growth today on the Read More. Innovations Mobile Online Bank of America Chase Mobile banking online banking Wells Fargo

How Latin America's local payment schemes connect into a cross-border network

Payments Source

Cross-border payment processors are stitching together Latin America’s patchwork of local payment methods to facilitate the growth of international e-commerce marketplaces and digital content providers in the region. Latin America Online payments Cross border payments Digital payments

How Bank of America’s Virtual Assistant Erica Works [VIDEO]

Bank Innovation

Bank of America expects to be finished rolling out its AI-driven virtual assistant Erica by mid-summer. Exclusive Innovations Open Fintech Operations Payments PFM Premium Bank of America Erica virtual assistantThe bank first launched Erica in March and will continue rolling out Erica through June, according to an email sent to Bank Innovation. Here is a map of the states where Erica is live. See how Erica works in […].

Today In Digital-First Banking: Bank Of America Inventors File Record Number Of Patents; Klarna Teams With Crypto Exchange Safello

PYMNTS

In today’s top digital-first banking news, Bank of America inventors filed a record number of patents, while Klarna is collaborating with cryptocurrency exchange Safello. Remote Work Hasn’t Stopped Bank of America Inventors from Filing Record Patents.

Megamalls Like Mall Of America And American Dream Face Mega Problems 

PYMNTS

malls — Minnesota’s Mall of America and New Jersey’s American Dream mall — are struggling, with the company that owns both recently skipping a third straight payment on the Minnesota property. Retail American Dream Mall Mall of America malls News Triple Five Group

Bank of America to Launch Erica This Month

Bank Innovation

EXCLUSIVE – Bank of America is all set to launch its AI powered bot Erica this month, Michelle Moore, head of digital banking at BofA told Bank Innovation. Exclusive Innovations Mobile Online Operations Payments artificial intelligence Bank of America chat bot Erica machine learningOur focus with innovation has been on, how can we make the lives of our customers easier?” Moore said. With Erica, customers can use their voice or.Read More.

Bank of America Files for More Blockchain Patents

Bank Innovation

Bank of America filed for nine more blockchain patents. In total, Bank of America now has filed for over 30 blockchain patents since last year. Cryptocurrency Exclusive Mobile Payments Bank of America BlockChain paymentsThese filings were recently made public by the U.S. Patent and Trademark Office. These nine patents, which were filed on February 22, relate to settling transactions within a payment network. […].

Bank of America, Chase the Latest Banks to Buy into Blockchain

Bank Innovation

So much has happened with blockchain over the past couple of weeks—so very much—but let’s talk about the banks: Firstly, Bank of America is the latest to join the ranks of financial institutions experimenting with blockchain. Bank of America Merrill Lynch recently announced at Sibos that it was collaborating with Read More. Corporate Online Technology Virtual Currency Bank of America BlockChain Ethereum JP Morgan Chase Microsoft Microsoft Azure Ripple synechron

Bank of America Merrill Lynch Launches Mobile App for Prepaid Commercial Card

Bank Innovation

With over 25 million mobile bank users on the retail side, Bank of America is shifting attention to ramping the numbers on the commercial side, with the launch of a mobile app for its prepaid commercial cards. Today, Bank of America Merrill Lynch unveiled an app specifically designed for reloadable commercial prepaid cards.