CFPB Monitor

FEBRUARY 20, 2019

The Conference of State Bank Supervisors (CSBS) announced last week that it has agreed to implement 14 recommendations made by its Fintech Industry Advisory Panel (Advisory Panel). It has 33 fintech company members that engage with the CSBS Emerging Payments and Innovation Task Force and other state regulators.

Fintech 68

Fintech Conference Survey Regulation 68

PYMNTS

SEPTEMBER 29, 2017

Banks are finding it more difficult than ever to ignore potential FinTech partnerships that could better serve their corporate customers. When it comes to corporate treasury, business clients demand robust solutions and services from their banks, and FinTech players are stepping in to help.

Fintech 141

Fintech Risk Management Compliance Management 141

Insights on Business

FEBRUARY 19, 2016

This is definitely related to the inflection point that the banking industry is today both from their own inability to drive change for rapid digitization and also to address the threat from non-banking firms. What can banks learn from the FinTechs? What should be their strategy for Digital Banking transformation?

Fintech 132

Fintech Video Lending Industry 132

PYMNTS

FEBRUARY 8, 2018

B2B payments are an instrumental component of global trade and of setting the stage for currencies to operate as global instruments of cross-border trade. Three unnamed sources told Reuters that Chinese officials are opening up its large-value payment system to operate 21 hours a day, with the ability to process payments overnight.

Innovation 111

Innovation Payments blockchain Analysis 111

PYMNTS

OCTOBER 19, 2020

The shift away from legacy payments processes was well underway before the pandemic, but COVID-19 is creating fresh urgency to move to cloud-based digitized systems, David Disque , president at CSI (Corporate Spending Innovations) told Karen Webster in a recent conversation. infrastructure remains very decentralized. The Best Mix .

Payments 276

Payments Fintech System Cards 276

Insights on Business

FEBRUARY 19, 2016

This is definitely related to the inflection point that the banking industry is today both from their own inability to drive change for rapid digitization and also to address the threat from non-banking firms. What can banks learn from the FinTechs? What should be their strategy for Digital Banking transformation?

Fintech 93

Fintech Video Lending Industry 93

Insights on Business

FEBRUARY 19, 2016

What should be their strategy for Digital Banking transformation and what they can learn from FinTech innovation? This is definitely related to the inflection point that the banking industry is today both from their own inability to drive change for rapid digitization and also to address the threat from non-banking firms.

Fintech 70

Fintech Innovation Lending Video 70

PYMNTS

JANUARY 7, 2020

The financial center operates with its own legal, regulatory and tax infrastructure and traces its roots back to 2005. India, of course, has said financial firms cannot provide such services, and China has banned the operation of domestic exchanges. In other words: Blockchain is seemingly in the mix; cryptos are not.

cryptocurrency 132

cryptocurrency Bitcoin blockchain Course 132

Insights on Business

FEBRUARY 19, 2016

This is definitely related to the inflection point that the banking industry is today both from their own inability to drive change for rapid digitization and also to address the threat from non-banking firms. What can banks learn from the FinTechs? What should be their strategy for Digital Banking transformation?

Fintech 70

Fintech Video Lending Industry 70

Accenture

FEBRUARY 22, 2017

Following on from my previous blog introducing the new year in the Fintech Innovation programme, I wanted to turn the focus onto the emergence of RegTech—technologies that address the challenge and cost of regulatory compliance. Both are alumni of our FinTech Innovation Lab. There are hidden costs too.

Compliance 150

Compliance Regulation Innovation Fintech 150

Accenture

FEBRUARY 22, 2017

Following on from my previous blog introducing the new year in the Fintech Innovation programme, I wanted to turn the focus onto the emergence of RegTech—technologies that address the challenge and cost of regulatory compliance. Both are alumni of our FinTech Innovation Lab. There are hidden costs too.

Compliance 150

Compliance Regulation Innovation Fintech 150

PYMNTS

JULY 10, 2020

trillion by 2024, it’s small wonder that so much investment and innovation keeps pouring into the space. In fact, the pandemic has boosted the fortunes of several cross-border payments platforms as they proved their value to people and business owners operating on lockdown. Also, turns out it’s just smart business strategy.

Payments 142

Payments Strategy Marketing Fintech 142

CFPB Monitor

FEBRUARY 2, 2021

Since the California Consumer Financial Protection Law (CCFPL) became effective on January 1, the state’s Department of Financial Protection and Innovation (DFPI) has wasted no time in asserting its expanded jurisdiction over consumer financial services providers. (The

CA 60

CA Company Innovation Regulation 60

PYMNTS

MARCH 17, 2017

One area in which we’ve seen innovation break through recently may come as a surprise: insurance. If there was any industry that could be viewed as the definition of mundane and stuck in its ways, it would be insurance. PYMNTS: How is blockchain technology impacting the FinTech industry overall? And it’s not specific to FinTech.

blockchain 127

blockchain Industry Bitcoin Innovation 127

Bank Innovation

JUNE 28, 2017

We are looking at it, a lot of customers have been interested and are requesting the feature [like this reedit user], so it’s definitely something we are taking a look at,” he said today during the Future of […].

Operations 268

Operations cryptocurrency Technology Fintech 268

PYMNTS

OCTOBER 23, 2018

Open Banking regulations have gotten FinTech innovators’ brains churning over how to take advantage of the troves of data that traditional banks have typically kept locked away. With regulations like PSD2 and Open Banking emerging as ways to boost financial services competition, the bank-FinTech relationship has taken center stage.

Data 177

Data System Regulation Security 177

PYMNTS

NOVEMBER 20, 2019

Otherwise, you are introducing a technology to a process that is broken to begin with and just automating it, so you are not getting the operational efficiencies and the pickup that you could potentially get out of it.”. Scotiabank’s Three-Pronged Innovation Strategy. I would say talent management is definitely top of mind.”.

Fraud 117

Fraud Data Management Analytics 117

PYMNTS

DECEMBER 26, 2016

Look For Innovation In Unlikely Places. The payments space is rapidly expanding, and as new entrants continue join the fold, Weiss noted that there’s plenty of opportunity to discover innovation in unlikely places. I think innovative ideas can ignite from inside the payments industry but outside it as well.

Payments 125

Payments Innovation Bitcoin Tools 125

PYMNTS

JULY 25, 2019

Challengers see fraud protection as especially important, particularly as they attempt to ween customers away from legacy FIs and their own nimbler FinTech competitors. is definitely helpful in terms of information sharing and in discovering things as quickly and as in-real-time as possible.”. operations.

Fraud 164

Fraud Marketing US Resources 164

PYMNTS

SEPTEMBER 23, 2019

Inertia can be the death knell of any innovation – and in payments, it’s the proverbial showstopper. For innovation to ignite, stakeholders must find enough value to switch. It’s not enough for switching to be easy (although that definitely helps). In business, comfort is commonly referred to as inertia.

Payments 152

Payments Innovation Connecticut Policies 152

PYMNTS

JUNE 8, 2020

That’s less than ideal almost by definition – and, in the time of COVID-19, it’s quite a lot less. These companies [are] paving the way, and healthcare is the next insurance type primed for innovation.”. That’s still the dream, with FinTechs, banks and Big Tech firms all trying to provide “the” solution.

System 130

System Payments Study Industry 130

PYMNTS

JANUARY 3, 2020

FinTechs led this charge and fueled much of the innovation. It’s been definitively shown that businesses and individuals will pay reasonable fees or percentages to receive their funds instantly. And as consumers continue to warmly embrace instant money, old definitions and practices are becoming obsolete almost overnight.

Payments 151

Payments Fraud Fintech Security 151

PYMNTS

AUGUST 10, 2017

Innovation can sometimes be seen as a solution looking for a problem, but it’s time to stop thinking of technology as bells and whistles and start looking at it as a necessary element of doing business for a changing consumer base – and up against a changing landscape of challenges and threats. FinTech operators are very nimble.

How To 136

How To Risk Management Technology US 136

PYMNTS

FEBRUARY 28, 2020

Credit unions’ emphasis on member relationships is one of the main factors that distinguishes them from large banks and FinTechs. Larger banks and well-funded FinTechs can create dedicated security operation centers staffed by experts, but CUs often do not have the budgets to offer round-the-clock active protection.

Data 131

Data California Security Pennsylvania 131

PYMNTS

FEBRUARY 21, 2018

Singapore stepped onto the global stage as a world leader in blockchain innovation in recent months. As regulators begin to consider blockchain regulations, many have signaled a desire not to hamper innovation while doing so. In Spain, regulators are reportedly exploring how to support blockchain developers.

blockchain 130

blockchain Los Angeles Regulation Oregon 130

Insights on Business

JUNE 28, 2018

Banks operating on legacy architecture will find it increasingly difficult to compete in an API-driven business environment, says Hans Tesselaar, executive director at BIAN. The key difference with these topics, which both play into the open banking agenda, is that they enable banks to innovate with the systems they already have in place.

System 130

System Innovation Industry Technology 130

PYMNTS

JANUARY 22, 2018

” Perhaps one of the biggest challenges for this space is that the exact definition of the middle market isn’t exactly clear. There are others who will state that the definition of mid-market can hinge on the segment of business that is being discussed.” “We are more than welcoming them.”

Management 116

Management Compliance Taxes Marketing 116

PYMNTS

JUNE 20, 2018

“These definitions that have popped up, and the segmentation that goes on, sometimes complicates it for banks,” he said. ” His criteria for identifying a micro-business is any small business without a chief financial, marketing or innovation officer. “We tend to overthink it.”

Community Bank 101

Community Bank Community Fintech Survey 101

PYMNTS

OCTOBER 26, 2017

It was the (initially) small FinTech startups that delivered a collective shakeup to the small business (SMB) lending industry. view and from a global view, the banks are going to come back in full force, including Barclays and others, and then, on top of that, you’re going to have definite presence of Amazon players,” said Mills.

Lending 109

Lending Google Fintech Industry 109

PYMNTS

NOVEMBER 22, 2016

And while that trend is universal, the Asia-Pacific region is a particular hotbed for mobile FinTech. MC Payment , a startup based in Singapore, is a FinTech startup in the region that is riding the B2B mobile payments wave. Researchers forecast mobile payments to account for $1 trillion in transactions next year.

Regional 100

Regional Mobile Payments Trends 100

PYMNTS

OCTOBER 19, 2017

While banks and rival FinTech companies are often able to more quickly adopt and release new technological solutions to their customers, one of the areas in which credit unions have managed to be highly competitive with their financial rivals is customer service. Member-driven Innovation. A Small Pond to Fish in’.

Innovation 108

Innovation Tennessee Resources Regulation 108

NCR

APRIL 24, 2017

Berlin-based N26 has been operating for slightly longer and announced in March that its user base had grown to more than 300,000, up from 100,000 in January 2016. ” Looking at the industry from this perspective, it’s clear that there is some very exciting change and innovation taking place.

Retail 75

Retail Customer Experience CA Innovation 75

Insights on Business

JULY 20, 2017

I wasn’t particularly inspired by the Wikipedia definition , so I’ll give you mine. It also creates its own products and has its own back-office operations. The emergence of financial technology (fintech) and the push of regulators for more competition are disaggregating and open this closed value chain. The fintech hub.

Fintech 181

Fintech Mobile Examples Data 181

PYMNTS

MARCH 11, 2020

With the digitization of the ecosystem and rapid emergence of FinTechs over the last decade, any company in business longer than six months old seems old, and anything that’s been around for more than five years seems ancient. The digital wallet was definitely going to be the firm’s undoing, an emerging line of conventional wisdom went.

Fintech 144

Fintech Colorado Payments Meeting 144

PYMNTS

JUNE 13, 2019

“We definitely see people who are in leadership roles in their industries reaching out to their peers, and collaborating on forming new networks,” she said. Businesses with internal innovation labs and proactive leaders can certainly propose a use case for a blockchain solution, she added.

blockchain 184

blockchain Data Technology Security 184

PYMNTS

MARCH 16, 2016

Technical banking jargon aside, Midpoint CEO David Wong and Operations Director Bradley Lemkus said the company’s services are aimed squarely against traditional banks. It is worth bearing in mind that, despite the abundance of FinTech payments companies, 80 percent of our FinTech competition are High Street banks,” Wong said.

Payments 100

Payments Cards Innovation Google 100

PYMNTS

AUGUST 21, 2018

At that time, Ant Financial, the operator of the biggest payment platform in China , grabbed $14 billion from a consortium of investors, which included a number of sovereign wealth funds, Warburg Pincus and others. However, that enthusiasm seems a bit subdued now. Other pressure looms within China, too.

Capital 101

Capital Marketing Analysis Policies 101