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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. MORE
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 MORE
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 MORE
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. MORE
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. MORE
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. MORE
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. MORE
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. MORE
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. MORE
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 MORE
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 […]. MORE
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 […]. MORE
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. MORE
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 […]. MORE
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. […]. MORE
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 […]. MORE
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. MORE
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. MORE
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. MORE
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 MORE
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 MORE
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. MORE
Bank of America is rolling out three new application programming interfaces (APIs) as it supports the growing demand for up-to-the-moment data and processing in business treasury. With CashPro APIs, we’re helping our clients bring banking information and daily operations even closer together,” said Stephanie Wolf, head of Global Financial Institutions, Governments and Business Banking Sales in Global Transaction Services (GTS) at Bank of America, in the announcement. MORE
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 MORE
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 MORE
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. MORE
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. MORE
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 MORE
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. MORE
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 […]. MORE
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. MORE
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. MORE
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 MORE
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 MORE
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. MORE
Latin America presents a growing regional economy, however the payments and ecommerce industries present unique challenges MORE
America Related Topics PYMNTS
FEBRUARY 24, 2021
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.
ABA Community Banking
NOVEMBER 11, 2020
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 Innovation
FEBRUARY 9, 2020
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 Innovation
DECEMBER 14, 2018
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.
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Chris Skinner
AUGUST 1, 2018
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.
Mobile Payments Today
JUNE 6, 2019
Latin America presents a growing regional economy, however the payments and ecommerce industries present unique challenges
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Mobile Payments Today
FEBRUARY 6, 2020
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
PYMNTS
DECEMBER 10, 2020
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.
PYMNTS
JULY 23, 2020
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.
BankInovation
MARCH 2, 2021
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 Innovation
APRIL 15, 2020
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
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PYMNTS
DECEMBER 14, 2020
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.
Bank Innovation
NOVEMBER 9, 2017
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 […].
Chris Skinner
AUGUST 28, 2019
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.
PYMNTS
FEBRUARY 19, 2021
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
Bank Innovation
OCTOBER 15, 2019
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 […].
Bank Innovation
NOVEMBER 21, 2017
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 Innovation
JANUARY 12, 2018
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 […].
PYMNTS
JUNE 19, 2020
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.
PYMNTS
DECEMBER 10, 2020
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 Innovation
JANUARY 24, 2018
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
Chris Skinner
FEBRUARY 27, 2018
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.
Payments Source
MAY 26, 2020
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 Innovation
JUNE 8, 2016
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.
PYMNTS
NOVEMBER 1, 2020
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.
PYMNTS
JUNE 3, 2020
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 Innovation
OCTOBER 17, 2016
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
Payments Source
JANUARY 12, 2021
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
Bank Innovation
MAY 18, 2018
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 […].
PYMNTS
FEBRUARY 19, 2021
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.
PYMNTS
JULY 24, 2020
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 Innovation
MARCH 2, 2018
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 Innovation
AUGUST 28, 2017
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 Innovation
OCTOBER 4, 2016
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 Innovation
JULY 23, 2018
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.
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