Online lender Upstart launches auto loan platform
American Banker
JUNE 24, 2020
Upstart, which specializes in the use of alternative data and AI in credit decisions, will make car loans directly and sell its technology to banks and other lenders.
Banks and Credit Unions View Fintech Partnerships a Key Growth Strategy for 2020
Gonzobanker
FEBRUARY 19, 2020
Financial institutions are making fintech partnerships a key priority in 2020, according to a new study from Cornerstone Advisors. In What’s Going On In Banking 2020: Outlook for a New Decade , 65% of banks and 76% of credit unions say these partnerships will be an important part of their business strategies this year.
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Maximize Online Banking Efficiency
Banking 2020
APRIL 23, 2015
Today’s successful banking institutions must quickly adapt to dynamic business environments, deploy new technologies, and deliver consistent online services to meet their customer’s needs – anytime, anywhere, and with whatever device they choose. Marc Goodman is an independent marketing consultant for Sangfor Technologies.
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Facial recognition technology at tipping point in payments
Banking 2020
NOVEMBER 12, 2015
It was barely two years ago that the world’s first facial recognition payment system was developed, but now it seems this technology is set for lift-off globally. Finnish firm Uniqul launched biometric authentication technology in 2013, which used mathematical models of people’s faces to confirm users.
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This Week’s Reads: Online Banking, Apple Pay, Payments and More
Banking 2020
JANUARY 30, 2015
Articles via The Wall Street Journal, PYMNTS.com and MIT Technology Review . Latest mobile-banking research shows laptops still reign: A recent survey of 1,000 American adults showed that Americans are still using their laptops to conduct simple banking transactions. What have you been reading? What have you been reading?
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Ultraviolet Technology: Q&A with Digital Check
Banking 2020
OCTOBER 22, 2014
From the retail point of sale to core banking systems, online security issues have dominated financial headlines in 2014. retailers reporting being targeted, and banks suffering an estimated $650 million in losses from deposit account fraud, according to separate reports by AFP and the American Bankers’ Association.
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Fintech partnerships help TD weather the pandemic
American Banker
OCTOBER 13, 2020
Mobile and online banking technologies that the Toronto bank previously rolled out, including a virtual assistant developed by Kasisto and money management tools made by Moven, have become much more popular since the arrival of COVID-19.
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Video: What It Was Like Before ATMs and Online Banking
Banking 2020
JULY 9, 2015
In the past month, how many times have you visited an ATM, deposited a check with your mobile phone or made a payment with online banking? With all the advanced technology we have at our fingertips it can be hard to imagine (or remember) the days when financial transactions had to be done in brick and mortar locations.
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From Online to Mobile to Mobile-Only
Banking 2020
FEBRUARY 17, 2015
Just as the onset of online banking capabilities upended traditional industry practices, the slew of mobile banking apps now on the market, and the heavy adoption of those technologies by ‘millennials’ in particular, was bound to make even online banking look old-fashioned. It almost seems inevitable.
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The Future for Banking Isn’t Online: Emphasizing the Digital Customer Experience
Banking 2020
FEBRUARY 1, 2016
The future of digital banking isn’t online, however; it’s on the smartphone — and that’s where banks need to sink their digital resources right now. At an absolute minimum, a mobile component has to augment — seamlessly — a bank’s website and in-branch offerings. But bank apps are often clunky and slow.
BofA adapting consumer tech for use with corporate clients
American Banker
OCTOBER 15, 2020
Bank of America is applying a familiar arsenal — including APIs and its popular virtual assistant, Erica — to online business banking, cross-border payments and cash management in an effort to modernize those services.
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92 By the Numbers: Biggest Pain Points in Customer Service
Banking 2020
JUNE 4, 2015
An online study of 5,000 consumers in the US uncovered the worst aspects of getting help from customer service contact centers. Even the best–performing sector, online retail, had 33% of consumers complaining about this issue. Agents not knowing the answer: Offline retail (47%) and technology sectors (47%) performed the worst.
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This Week’s Reads: B2B Payments, Mobile Banking and Acquisitions
Banking 2020
DECEMBER 4, 2015
MetaBank Bumps Up V-Card Strategy: MetaBank and StoneEagle struck a five-year extension of their partnership, which sees StoneEagle linking MetaBank’s Meta Payment Systems corporate clients into virtual B2B payment technologies. ” What have you been reading lately?
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Can faster payments outrun fraud?
Banking 2020
SEPTEMBER 15, 2015
businesses and consumers complete transactions, as the nation is only just getting up to speed with EMV technology. In the UK, the scheme was launched nearly seven years ago back in May 2008, and in the years following there was a surge in online banking fraud. It’s the latest move in the direction to modernize the way that U.S.
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40 FI Highlight: Miramer Federal Credit Union
Banking 2020
APRIL 21, 2015
One of the great benefits that technology brings financial institutions and consumers alike is the ability to streamline processes. We recently spoke with Paul Socia, President and CEO at Miramar Federal Credit Union to discuss how his credit union is using technology to do just this.
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Does Amazon mPOS death signal wider payment industry woes?
Banking 2020
JANUARY 28, 2016
It’s a question that’s beginning to be asked as the explosion of new technology in the payments industry means consumers and businesses are left with an endless stream of channels to use. But these businesses were predominantly selling online, while mPOS is a solution for the bricks-and-mortar world. Are there too many ways to pay?
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Winning the Customer
Banking 2020
NOVEMBER 27, 2015
When we’re online, we can go anywhere, and surely do. That’s why digital capabilities have revolutionized every industry from retail and healthcare to banking—if the same services can be had from half a world away, and for a lower cost, why not avail of them? Some online-only startup, with operations based overseas?
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Banking Shift: 3 Ways the Debt Industry is Changing
Banking 2020
MARCH 26, 2015
In addition, new technology, and even customer care considerations, will finally influence the way debt collection is done. Leaner, more sophisticated, digital- and data-driven collection processes that will align with the incredible shift that’s happening in banking as a whole. However, change is coming. The result?
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New Tech for Old Folks
Banking 2020
FEBRUARY 25, 2015
Here’s a fun little stat from across the pond: The oldest customer of financial services conglomerate HSBC to have downloaded its banking app is aged 108. million people in the United Kingdom between the ages of 70 and 100 now engage in Internet banking. The research shows that 2.3 adult population. They aren’t all Luddites either.
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FI Highlight: Banner Bank
Banking 2020
OCTOBER 30, 2014
Dianne shared insight on Banner Bank’s recently redesigned website and new marketing initiatives to further their approach as a “ super community bank.”. Dianne Larsen, Banner Bank. What is new about your online and mobile banking experience? . We regularly push mobile banking updates to our clients.
This Week’s Reads: Digital Banking, Innovation and Payments
Banking 2020
JULY 24, 2015
Community banks must examine what cultural, operational and marketing shifts will happen when they adopt digital banking initiatives. Will consumers adopt Facebook’s ‘Buy’ button?: Facebook recently announced that it’s launching a new “buy” button which will allow consumers to easily purchase items from articles that they share.
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: Biometrics, Bank Drive-Thrus, Mobile
Banking 2020
MAY 8, 2015
Articles via CUToday.info, Biometric Update, Bank Technology News. The impersonal touch: consumers prefer mobile over phone, in-branch: According to a recent survey, United States consumers prefer mobile banking over online, branch and telephone banking. billion over the next 10-year period.
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Bank of America's patent machine keeps rolling
American Banker
SEPTEMBER 14, 2020
BofA, which has applied for or been granted thousands of patents, has been working recently on technologies that analyze spending patterns to give budgeting advice and use augmented reality to provide estate-planning services.
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EMV migration FAQs
Banking 2020
OCTOBER 12, 2015
Named after the three organisations that developed the specifications – Europay, MasterCard and Visa – EMV is the global benchmark for credit and debit cards that incorporate chip technology. EMV supports four types of cardholder verification methods (CVMs): offline PIN, online PIN, signature, or no CVM. Who uses EMV?
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40 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. Wearable technologies? Yes, retail for sure—a quick search online turns up hundreds of stories about retail omni-channel. Social channels?
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Bringing digital banking tools into the 21st Century
Banking 2020
JANUARY 25, 2016
Increasingly, customers do their banking either online or via mobile app, so it’s up to banks to provide users with a digital experience that meets their needs. How customers interact with their banks through an online component can often mean the difference between staying with a bank or taking their money elsewhere.
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40 BNP Paribas trials seamless payment displays
Banking 2020
JANUARY 29, 2016
Biometrics, contactless technology and social media hold promise, but there is not a straightforward way to create truly frictionless transactions. Users will be able to make a donation to a charity or order items online by placing their contactless payment card or their NFC smartphone on the screen.
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40 What do consumers want from payments?
Banking 2020
NOVEMBER 11, 2015
Online banking lets people manage accounts without having to visit a branch. million online conversations in 61 markets, uncovered some key trends. Specifically, consumers want technology innovation to create more convenient ways to pay. Over the last few decades we’ve seen some radical changes. Convenience.
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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. Newer technologies help Asian markets. per cent in 2013.
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FI Highlight: Vantage West Credit Union
Banking 2020
OCTOBER 16, 2014
Jill discussed VWCU’s ongoing partnership with University of Arizona’s football organization and how their recent online video campaign has increased engagement with the local community. The credit union has branches in Pima, Pinal, Maricopa and Cochise counties and serves its vast membership via online channels, as well.
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68 Retail Banking: Putting 2015 in Context
Banking 2020
DECEMBER 22, 2014
Which brings us to retail banking in 2015. Yes, of course we already see ads for financial institutions everywhere, but consumers today aren’t only on the subway and at sporting events, they’re online. They’re deeply immersed in the digital universe, and that means an entirely different kind of interaction.
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Two Cyber Security Investments With a Silver Lining
Banking 2020
SEPTEMBER 10, 2015
With more than 12,000 keyloggers in distribution, antivirus and anti-spyware aren’t enough to protect online activity from identity thieves. The technology protects everything from online transactions and network remote access to social media, personal and business information.
5 Ways to Avoid Banking Security Risks
Banking 2020
JULY 29, 2015
It has been predicted that digitalization of banks and personal data is what is increasing risks and making banks vulnerable too. From websites which report bank and broker reviews to experts in security technology, many have the same prediction around money transfer online : the risks are now higher.
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40 Samsung TV payments highlights Internet of Things possibilities
Banking 2020
NOVEMBER 26, 2015
Visa recently launched a ‘connected car’ that is capable of making mobile and online purchases on the go. By 2020 it is estimated that more than 250 million vehicles worldwide will include some form of embedded connectivity,” says Bill Gajda, senior vice president of Innovation and Strategic Partnerships at Visa.
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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.
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High-Frequency Trading: Is It The New Normal?
Banking 2020
NOVEMBER 24, 2014
Animation aside, that would probably be Moneyball , an absorbing analysis of the moves made by Oakland As manager Billy Beane to rely more on technology-driven data than old-school scouting to put together his 2002 roster. Anybody remember the last time Brad Pitt showed up in a big-screen movie that didn’t have much blood and gore?
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70 Big rise in Australian card fraud
Banking 2020
OCTOBER 9, 2015
Of this increase, CNP fraud – which can occur in transactions made over the phone and via mail, but today mostly involves payments made online – accounted for a staggering 94 per cent. It now stands at 58.8 cents per $1,000 transacted – up from 46.6 In itself, it increased 42 per cent year on year, costing Australians $299.5
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40 Lack of EMV-compliant infrastructure boosts US fraud rate
Banking 2020
AUGUST 27, 2015
For instance, evidence from other nations that have adopted the technology, such as the UK, suggest that while it will lead to a drop in Cardholder Present fraud, it will increase CNP fraud. However, it is to be expected that as EMV adoption does take hold in the US, it is likely to have an impact on the nature of fraud in the country.
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40 Next in Mobile Payments: The Android Alternative
Banking 2020
OCTOBER 15, 2015
There was a time when the launch of a new mobile payment system from one of the world’s largest and most dynamic technology companies would have been a massive event. For a generation weaned on technology-enabled instant gratification, it’s the ultimate goodie. So why is adoption still so sluggish? merchants were ready.
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Open banking: How banks must respond to the mobile boom
Banking 2020
NOVEMBER 10, 2015
Consumers around the world are becoming more interested in using their mobile devices to manage their financial affairs, with the use of mobile banking technologies set to double by the end of the decade. This is according to a new report by KPMG, which revealed the total number of mobile banking customers is set to hit 1.8
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Can Midsize Banks Keep Pace?
Banking 2020
JUNE 9, 2015
Midsize banks (those with deposits between $2 billion and $33 billion) have traditionally been the leaders of customer satisfaction in the banking industry, but technology has advanced to the point where big banks and regional banks are closing the gap. Mobile and Digital Technology.
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40 Community Service with the Personal Touch
Banking 2020
SEPTEMBER 23, 2014
It doesn’t take a police state to piece together nuggets of information from Google searches, Tweets followed, Facebook pages liked, blogs perused, ads scanned and online purchases made (along with every other digital phenomenon) to develop comprehensive profiles of each customer. Things are and will be very different, no doubt about that.
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How to Have Fun in Banking: Gamification
Banking 2020
MARCH 6, 2015
For example, Hana Bank in South Korea has won awards for gamifying some aspects of its online and mobile statements. Similarly, DSK Bank in Bulgaria has added gamification layers to numerous functions. Will they better educate customers about the bank’s offerings, particularly those available via online and mobile platforms?
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