FIs and fintechs innovate with an eye on SMBs
BankInovation
AUGUST 7, 2020
At the start of the year, Bank Innovation predicted, “if 2019 was the year of the challenger bank, 2020 will be the year payments companies move closer to bank territory.”
Marqeta to focus on growing product suite in 2020
Bank Innovation
DECEMBER 24, 2019
If 2019 was the year of the challenger bank, 2020 will be the year payments companies move closer to bank territory. Marqeta, the card issuing and processing startup supporting the capabilities of large companies like Kabbage and Square, sees 2020 as a big year for payments companies branching out into banking.
Banking 2020 
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This Week’s Reads: Millennials, Mobile Payments, Innovation
Banking 2020
FEBRUARY 20, 2015
Branch banking shifting from transactions to interactions: As consumers shift their banking preferences from branches to digital channels , financial institutions will need to rethink how they interact with customers and members and what venues they focus budgets on. a start-up in the mobile payments industry.
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China key to banking and payments innovation
Banking 2020
DECEMBER 3, 2015
Financial services organisations in China are expected to shine a light for the rest of the world when it comes to innovation in the banking sector in the coming years, with the primary drivers being non-traditional companies that are looking to develop new payment solutions and platforms. At the turn of the millennium, just 1.8
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This Week’s Reads: Digital Banking, Innovation and Payments
Banking 2020
JULY 24, 2015
Articles via The Financial Brand, Business Insider, Mobile Payments Today. 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. What have you been reading?
This Week’s Reads: Innovation, Apple Pay, Bank Branch
Banking 2020
SEPTEMBER 26, 2014
How to Get Disruptive Innovation at its Best – American Banker. The real reasons why banks are adopting PFM – Finextra. Apple Pay Brings Advancements to Mobile Payments, but Still Faces Barriers – Barlow Research. Banking Vs. Google, Apple and Amazon – Forbes.com. What have you been reading?
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This Week’s Reads: Security, Innovation, Millennials
Banking 2020
APRIL 24, 2015
Articles via Mobile Payments Today, BAI Banking Strategies, The Financial Brand, Bank News. Study: improved security is key to success for mobile banking: A recent survey from RateWatch revealed that while mobile banking may be struggling to attract new customers, those already using it are doing so more often.
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Omni-channel innovation, not supplier contraction, critical to banking growth
Banking 2020
OCTOBER 23, 2015
It is rare that industries are served well by consolidation of similar players as these rarely drive innovation and mostly seek to benefit from cost saving through scalability, operational efficiencies, and product rationalization. With all of these pressures on retail banking, the industry needs innovation more than ever before.
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What do consumers want from payments?
Banking 2020
NOVEMBER 11, 2015
Banking innovation takes many forms, but the most successful generally start by addressing a consumer need. Payment cards created a safer and quicker way to pay compared to cheques. Online banking lets people manage accounts without having to visit a branch. But what’s driving payments innovation nowadays?
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Hidden payments ‘too big too ignore’
Banking 2020
DECEMBER 3, 2015
Cash has always been the ultimate way of hiding your tracks but now the banking industry needs to start paying more attention to so-called ‘hidden payments’ that are not conducted using traditional channels, as these activities are growing at an increasing rate. Why the move to hidden payments?
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Which route for mobile payment apps?
Banking 2020
JANUARY 21, 2016
And it’s one that goes to the heart of the debate among bank bosses about whether to participate in third party payment apps using an Application Programming Interface (API) or build their own standalone versions. It’s worth pointing out that banks won’t have much say over third-party access to accounts with the arrival of PSD2.
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Finland and US lead the way for non-cash payments
Banking 2020
JANUARY 20, 2016
Citizens in Finland, the US and the Netherlands have been revealed as the most prolific users of non-cash payments such as credit and debit cards, according to a report that revealed which nations are leading the way with innovations in payments. Overall, 123 billion such payments were made in the nation in 2013.
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BNP Paribas trials seamless payment displays
Banking 2020
JANUARY 29, 2016
Frictionless payments? But while progress has been steady, so far there has not been a revolutionary shift that has led to seamless, ubiquitous payments. The latest development comes from BNP Paribas, which is trialling a new generation of advertising displays that incorporate contactless payment capabilities.
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How will new regulations affect China’s online payments market?
Banking 2020
NOVEMBER 25, 2015
China has introduced new draft rules that are intended to tighten regulations governing online payments in the country. Therefore, proposals issued by the country’s central bank will aim to add “much-needed safeguards” to tackle these issues, the Wall Street Journal reports.
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This Week’s Reads: Mobile Check Deposit, Payments and Digital
Banking 2020
SEPTEMBER 4, 2015
Articles via Banking Exchange, PYMNTS.com, Enterprise Innovation. FIs open up about mobile payment practices: A recent survey found that most FIs plan to add mobile payments to their offerings within the next year or two if they aren’t already offering it.
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M-Pesa open API part of wider payments progress
Banking 2020
NOVEMBER 8, 2015
Open APIs are a key part of wider transformation in the banking industry and will become much more common as regulation forces banks to open up their systems. The move comes just as the banking industry gears up for major changes to payment rules that will mean they have to open up their platforms to third party developers.
Asia Pacific set to drive mobile payments growth
Banking 2020
NOVEMBER 9, 2015
Mobile technology is rapidly becoming an integral part of the way that many people manage their finances and make everyday payments, with the popularity of mobile banking apps and dedicated mobile payment tools such as Apple Pay growing all the time. Key trends driving the increase. ” A divergence in strategy.
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Samsung TV payments highlights Internet of Things possibilities
Banking 2020
NOVEMBER 26, 2015
Completely seamless payments are no longer just a dream, as the emergence of the Internet of Things makes it possible to integrate a payment function into everyday objects. The beauty of it is that in most cases, users can complete a payment in just three steps after the initial registration setup,” explains the firm.
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40 This Week’s Reads: Mobile Payments, Banking Apps, Apple Pay
Banking 2020
FEBRUARY 13, 2015
Articles via American Banker, Payments Source, The Financial Brand, Bank Innovation. Bank websites said to suffer from attention shift to mobile: While banks’ mobile banking capabilities are continuing to evolve, in some cases, Web-based products and services are being ignored. What have you been reading?
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40 Banks: sink or swim with FinTech players
Banking 2020
NOVEMBER 30, 2015
Banking institutions must engage with emerging financial technology (FinTech) companies or risk being left behind by an industry that is currently undergoing one of the largest transformations ever seen. In the past five years, the number of FinTech companies and non-traditional payment providers looking to enter the sector has boomed.
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B2B FinTech On The Cusp Of Change
PYMNTS
MAY 16, 2016
In B2B payments, that means changes in how businesses access, protect and ultimately make their money. The alternative lending market is showing signs of defeat against traditional bank loans, and SMEs are strengthening their demands for more than the typical solutions currently offered by traditional FIs.
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This Week’s Reads: Mobile Biometrics, Online Fraud and Mobile Applications
Banking 2020
DECEMBER 11, 2015
Articles via PYMNTS.com, Banking Exchange, Enterprise Innovation. Factoring in the cost of business success: New research shows that there will be a boom in mobile biometric payment transactions in 2016. With mobile payments continuously growing, mobile pay players have a lot more to keep up with.
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40 This Week’s Reads: Customers Like Branches, BlackBerry Apps, Digital Banking Definition and More
Banking 2020
JANUARY 16, 2015
Articles via Banking Exchange, Mobile Payments Today, American Banker and Banking Exchange. Loyalty will drive mobile payments: In the age old question, the chicken or the egg , people wonder which came first, the chicken or the egg. The same logic question can be applied to loyalty and mobile payments.
This Week’s Reads: Omnichannel, Branches and Bill Gates
Banking 2020
JANUARY 26, 2015
Articles via Mobile Payments Today, Banking Exchange, The Financial Brand, American Banker and Bank Innovation. Omnichannel banking: A consumer-first, not bank-first, experience: The days of bank branches being the only way consumers could access their financial information are long gone.
This Week’s Reads: Wearables, Biometrics, Digital Banks
Banking 2020
APRIL 3, 2015
Articles via PYMNTS.com, Bank Innovation, Information Age, The Financial Brand. Alerts, the gateway to wearables: While many people are discussing the topic of payments features with wearables , experts believe that it will be alerts, not payments, which will be most convenient and most used by consumers. .
China and India lead global cashless growth
Banking 2020
JANUARY 27, 2016
For the last few years, developed countries around the world have been witnessing an unrelenting march away from cash, as consumers take advantage of new technologies such as fast payments, contactless and mobile to complete transactions without resorting to notes and coins. But this trend isn’t limited to the West.
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This Week’s Reads: Wearable Technology, Mobile Applications and Financial Firms
Banking 2020
JANUARY 15, 2016
Articles via Mobile Marketing Watch, The Financial Brand, Enterprise Innovation. shows that in the next two years, wearable technology and smartphone apps will be the go-to payment method. In 2018, 50 Percent of Consumers Will Use Smartphones or Wearables for Mobile Pay, Says Gartner: A recent study from Gartner, Inc.
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Going Head First with Apple Pay: Q&A with AFCU
Banking 2020
DECEMBER 16, 2014
We expect our members enrolled in Apple Pay will use it at every opportunity, and will view both America First and the merchants who support Apple Pay as innovative. Our employees, who are accustomed to our embrace of innovative technologies, welcome Apple Pay and look forward to helping members use it. We want to hear it!
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84 ??Keeping it Personal: There’s No App For That!
Banking 2020
JANUARY 21, 2016
By Dominic Venturo, Chief Innovation Officer, U.S. New technologies and the growing number of mobile devices have prompted banking institutions to rethink their traditional way of doing business. Transactions are rapidly shifting from branches and handshakes, to apps and fingerprints, maybe someday even an iris scan. At Your Service.
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PWC Takes Very Optimistic View Of Retail Banking
Tech and Finance
APRIL 29, 2016
PWC Retail banking. In its report on Retail Banking 2020 — Evolution or Revolution, PWC optimistically ignores many of the details of its survey and concludes that banking has a great days ahead. It suggests that top regional banks in the U.S.
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28 PWC Takes Very Optimistic View Of Retail Banking
Tech and Finance
APRIL 29, 2016
PWC Retail banking. In its report on Retail Banking 2020 — Evolution or Revolution, PWC optimistically ignores many of the details of its survey and concludes that banking has a great days ahead. It suggests that top regional banks in the U.S.
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Your Eyes are the Window to… Your Bank? Q&A with EyeVerify
Banking 2020
NOVEMBER 12, 2014
How does this technology reduce costs to the traditional banking business? Spotlight Digital Insight EyeVerify Finovate innovation password security System Works Group' We foresee that a majority of the eye based biometrics activity worldwide will be using EyeVerify’s solution. Those are some big claims, but what do you think?
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101 This Week’s Reads: Underbanked, Checks, Biometrics
Banking 2020
MAY 15, 2015
Articles via Credit Union Times, Bank Innovation, American Banker, The Financial Brand. From the years 2003 to 2013, the amount of checks used for payments has decreased from 36 million to 18 billion. Below are interesting stories the Banking.com staff has been reading over the past week.
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40 How 2015 is Different for Retail Banks
Banking 2020
JANUARY 15, 2015
Payment disruption and innovation. This year will be huge for payment disruption. The sheer amount of advertising around security features will begin to drive consumers away from plastic and toward mobile-only payments. Apple Pay opened the door for mobile payments, and continued evolution is certain.
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This Week’s Reads: Consumer Finance, Digital Trends, and Mobile Advertising
Banking 2020
FEBRUARY 5, 2016
10 Digital Trends Banks & Credit Unions Should Embrace: With a new year comes new innovation and trends. This article features 10 digital trends banking should embrace in 2016. January Retail Numbers Expected To Be Soft: Due to warm temperatures, many retailers took serious hits in their sales in the month of January.
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The Mobile Money Revolution: Transforming Lives
Banking 2020
AUGUST 25, 2015
It’s all too easy to talk about payments in terms of convenience from the very narrow consumer perspective. In the developing world, however, the power of mobile banking and payments to radically improve the lives of people in poverty is something that deserves attention.
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Searching for the Future
Banking 2020
OCTOBER 28, 2014
On the flip side, consumers don’t seem nearly as interested in mobile payments. The innovative conglomerate is certainly up to the challenge, and has done it many times before. This is an area virtually crying out for growth, which stubbornly isn’t coming. But the flood of applications hasn’t yet yielded a killer app.
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86 Open banking: How banks must respond to the mobile boom
Banking 2020
NOVEMBER 10, 2015
Therefore, coupled with any drive for mobile banking will need to be a strong authentication method through some form of biometric identification. “This new, exciting phase of mobile banking innovation, spearheaded by new market entrants as well as pioneering banks, will be a rollercoaster,” he said.
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Banking Shift: 3 Ways the Debt Industry is Changing
Banking 2020
MARCH 26, 2015
These are the hallmarks of a mature industry, one that isn’t expected to demonstrate extraordinary technical foresight and innovation. As alternative lending is booming, so is the demand for innovative services that support the industry. Voices banking technology debt debt collection evolution trueaccord'
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40 Changes Coming, Bit by Bit
Banking 2020
FEBRUARY 10, 2015
Very few companies—Microsoft and Dell among them—currently accept payment with Bitcoins, and the list isn’t growing very fast. Spotlight bitcoin coinbase currency innovation' The biggest X-factor in the whole Bitcoin scenario is that it’s entirely technology-driven, which puts it far outside the financial mainstream.
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40 5 Ways to Avoid Banking Security Risks
Banking 2020
JULY 29, 2015
Essentially an addition to the traditional EMV card system, chip and pin integration has been the most awaited innovation of 2015. While customers are looking for added layers of security, they are slow in picking up the new mode of card payment.
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Doing Omni-Channel First, Or Doing It Right?
Banking 2020
FEBRUARY 2, 2016
Regardless of how and why they hit the market, some technology-driven innovations seem to lend themselves to particular vertical markets and/or disciplines. And here’s one more nugget of particular interest to the folks in banking: The issue of payment and data security remains a thorn in the side of many retailers.
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40 Expanding the Banking Talent Pool
Banking 2020
DECEMBER 16, 2014
Big firms need to work hard to remain competitive; smaller firms need to keep innovating and not become stale. Advancing Banking Talent and Leadership. There must be a marriage of financial content and experience with the new thinking and agility that will create of what banking will be in the future.
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52 Three Common Misconceptions about Mobile Security
Banking 2020
AUGUST 19, 2015
The Federal Reserve says half of all Americans with a smartphone are accessing bank accounts using the devices, and one in five has carried out a mobile payment in the last year. And of course, that little gadget gives us access to almost all of our financial information. So why is nomophobia so real?
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