Bank Innovation

DECEMBER 13, 2018

As a part of its retail transformation strategy, HSBC Bank USA spent over $130 million on innovation projects in one year on its U.S. operations. The bank […].

Innovation Strategies 199

Innovation Strategies Strategy Innovation New York 199

PYMNTS

DECEMBER 9, 2020

What makes the current developments so interesting and exciting is that “we're just seeing that they're at the end of the innovation growth cycle,” he explained. All of these new FinTechs and digital innovators are changing the landscape as the role of payments rapidly shifts in the broader financial services arena.

Innovation 306

Innovation Fintech Payments Regulation 306

PYMNTS

APRIL 27, 2020

One study recently determined that the number of digital banking users is expected to exceed 3.6 billion by 2024, and a separate study suggested that many customers were willing to use FinTechs as well as their primary banks to receive the level of technological support they desired.

Digital Banking 248

Digital Banking Tools social media Mobile 248

Bank Innovation

OCTOBER 8, 2018

Not even a month has passed since Julie Demarigny, a veteran in digital entertainment industry having served Warner Bros. and Sony Music, has joined West Coast focused Union Bank as its head of digital banking.

Digital Banking 186

Digital Banking Innovation Digital Strategies Strategy 186

PYMNTS

AUGUST 29, 2019

Small businesses have historically been deemed as unprofitable by major banks, with FIs’ innovation efforts often prioritizing consumer products, followed by commercial banking offerings. In India, Visa recently announced a partnership with FinTech Open to introduce new small business banking services.

Fintech 173

Fintech Innovation Lending Digital Banking 173

PYMNTS

MARCH 27, 2019

Hong Kong has issued its first digital banking licenses, in a move toward strengthening the city’s financial sector, according to reports. The Hong Kong Monetary Authority (HKMA) gave the licenses to three outfits: the first went to Livi VB, a joint venture between the Bank of China (Hong Kong), JD Digits and Jardines.

Digital Banking 158

Digital Banking Fintech Customer Experience Branding 158

PYMNTS

JANUARY 7, 2020

Yet another business consortium vies for a lucrative, wholesale digital banking license, according to reports. ” The Monetary Authority of Singapore determined last year that it would issue up to five virtual banking licenses to enhance competition and innovation. Winners will be announced in mid-2020.

Digital Banking 131

Digital Banking Capital Leadership Fintech 131

PYMNTS

DECEMBER 16, 2019

South Korean FinTech startup Viva Republica , creator of the financial services platform Toss, was granted preliminary approval for a digital banking license from the Financial Services Commission of Korea , a Monday (Dec. Since its launch in 2015, Toss has become the only FinTech unicorn in Korea. Valued at $2.2

Fintech 131

Fintech Online Digital Banking System 131

PYMNTS

MARCH 26, 2020

But as of 2020, it is a subject upon which seasoned experts can disagree, in a world where traditional banks and FinTechs are operating in parallel in the market – and, in many cases, are offering similar services for consumers. But the FinTechs, Baird noted, are adapting and innovating around that issue.

Innovation 241

Innovation Fintech Data Examples 241

PYMNTS

MARCH 2, 2020

It’s really difficult, the banking ecosystem is not fast and that’s just reality,” Jim McCarthy, industry expert and former innovation head for Visa, told Karen Webster in a recent conversation. The Headwinds Creating The Innovations Gap . According to the latest edition of the Innovation Readiness report, only 22.3

Innovation 222

Innovation Data System Mobile 222

PYMNTS

JULY 7, 2020

For more community banks, the latter strategy can fast-track digitization initiatives. This week’s look at the latest bank-FinTech tie-ups shows Banking-as-a-Service and other FinTech players embracing smaller regional and community banks to elevate small- to medium-sized business (SMBs) and corporate banking offerings.

Community Bank 242

Community Bank Community Fintech Regional 242

PYMNTS

SEPTEMBER 28, 2020

Banks' embrace of FinTech is often driven by consumers' growing demand for a more seamless and unified experience. Increasingly, treasurers are seeking intelligent solutions augmented by artificial intelligence (AI) and machine learning (ML) — and banks are turning outward to meet those needs. HighRadius & Commerce Bank.

Fintech 204

Fintech Tools Groups Management 204

PYMNTS

JUNE 3, 2020

The COVID-19 pandemic has ushered in immediate, large-scale operational changes for financial institutions (FIs) in the EU, U.K. Brick-and-mortar branches shuttered as social distancing measures were enforced, and customers subsequently turned to mobile apps or websites to fulfill their banking needs rather than risking in-person visits.

Digital Banking 131

Digital Banking Mobile Tools Online 131

Independent Banker

JANUARY 31, 2022

With consumer expectations seeming to evolve faster every year, community banks could consider partnering with a fintech to keep up with technological innovation. of bankers are either strongly interested in or already working with fintechs in digital account opening. Matt Gallman, Drummond Community Bank.

Community Bank 159

Community Bank Community Fintech Risk Management 159

PYMNTS

JANUARY 6, 2021

And according to Doug Brown, senior vice president and general manager of digital banking at NCR , simplicity and innovation have turned what could have been a disastrous year into a transformational pivot for the better. Nudging Evolution.

Innovation 318

Innovation Data Examples Community Bank 318

PYMNTS

JANUARY 3, 2020

In late June, the Monetary Authority of Singapore (MAS) sent a ripple through the global financial services ecosystem with the announcement of its intention to issue five digital bank licenses to eligible applicants. Only two of the licenses will full digital banking licenses, while the other three will be wholesale banking licenses.

Digital Banking 130

Digital Banking Groups Regional Mobile 130

PYMNTS

APRIL 1, 2019

At the end of the day, he noted, trust is the critical element at credit unions, and the main differentiator between credit union customers and other banking customers. It’s a statement borne out by the new Credit Union Innovation Playbook , a PYMNTS/ PSCU collaboration. That is, if they choose the right FinTech.

Innovation 141

Innovation Fintech Fraud Security 141

PYMNTS

JANUARY 27, 2021

The banking industry faces many day-to-day business challenges, including competition with digitally native FinTechs and the ubiquitous social distancing restrictions brought on by the pandemic. The Fraud Threats Facing Digital-First Banks.

Security 213

Security Innovation Fraud Study 213

Bank Innovation

MARCH 9, 2017

Community banks can also play the fintech game. BankMobile — the digital bank, formerly a division of Customers Bancorp Inc. — was acquired by Flagship, a Florida-based community bank, for $175 million. “We We are no longer a partner or a division of […].

Community Bank 252

Community Bank Community Fintech Florida 252

PYMNTS

DECEMBER 1, 2019

The provision of licenses to several players will help support innovation and competition as all parties work to increase their customer base,” Central Bank of Nigeria Governor Godwin Emefiele said in a speech in Abuja on Friday. FinTech is helping to transform daily consumer life in Nigeria and other developing markets.

Fintech 254

Fintech Mobile Examples Policies 254

Insights on Business

APRIL 28, 2017

At the same time, regulators in many countries also have relaxed regulations to encourage innovation in the banking industry. As a result, many new, all-digital financial services firms, unencumbered by older, less flexible systems are aggressively pursuing customers by addressing their needs in new and distinct ways.

Digital Banking 171

Digital Banking User Experience Branding social media 171

PYMNTS

MAY 20, 2020

COVID-19 has forced many CUs to limit their brick-and-mortar hours of operation or close their branches completely, leaving CU members to rely primarily — and sometimes exclusively — on their CUs’ digital banking options. So, how can credit unions work to stand out from their competitors when every bank is digital-first?

Data 152

Data Digital Banking Innovation Fintech 152

PYMNTS

NOVEMBER 18, 2020

Collaboration and not competition, Visa’s Senior Vice President, Global Head of FinTech Terry Angelos told Karen Webster in a discussion on the recent advancements and updates to Visa’s Fast Track program , is quite evident — particularly when one observes that a number of Visa’s partners are many that, on paper, might appear to be competitors.

Fintech 184

Fintech Community Community Bank Meeting 184

PYMNTS

JANUARY 29, 2019

Efforts in the Middle East by banks and other financial institutions to embrace FinTech are on the rise. As reported from Daily News Egypt , a consortium of banks in the region expects a number of FIs, including those in Egypt, to embrace FinTech. Finxact’s own offerings operate in the cloud. “I Outside U.S.

Fintech 145

Fintech Cards System Groups 145

Bank Innovation

JULY 27, 2018

You might not expect the nation’s leading mobile bank, with north of 31 million users, to be in a hurry to build a digital bank under a new brand, but that’s just what JPMorgan Chase did last October with Finn.

Fintech 170

Fintech National Innovation Digital Banking 170

Bank Innovation

JULY 9, 2018

For a digital bank, time to market is one of the most important innovation mandates. For Lasha Gurgenidze at Tbilisi, Georgia-based TBC Bank, this mandate combined with low operational costs were the two fundamentals he and his team followed in launching TBC’s digital-first Space Neobank. “We

Georgia 284

Georgia Innovation Digital Banking Operations 284

PYMNTS

JANUARY 15, 2020

Brazil’s unicorn FinTech and payments startup EBANX is trialing a digital wallet, called Ebanx Go, with 10,000 consumers on a test basis, the company announced on Wednesday (Jan. The digital wallet offering is intended to solidify the FinTech’s reach in the Brazilian payments market.

Fintech 169

Fintech America Payments Capital 169

PYMNTS

FEBRUARY 11, 2019

Monzo, a digital bank out of London, wants to expand past just mobile-based personal banking customers to small and medium-sized businesses (SMBs). . Monzo is starting small in order to make sure it has the procedures and protections in place to handle the logistical operations of running business accounts.

Digital Banking 115

Digital Banking Software Tools Innovation 115

Bank Innovation

OCTOBER 18, 2017

EXLUSIVE – SME-focused digital bank Seed is nixing its monthly fee and will now be free for customers. The San Francisco-based fintech used to charge its customers $9 per month, but after conducting a survey, CEO Brian Merritt told Bank Innovation that he realized Seed could serve customers better by being free.

San Francisco 236

San Francisco Survey Digital Banking Innovation 236

PYMNTS

SEPTEMBER 8, 2020

In the mad dash for small firms to secure capital, many sought their PPP loans from banks other than their usual financial service providers, creating a logistical nightmare for financial institutions (FIs) that still rely on manual and outdated customer onboarding workflows. On Tuesday (Sept.

Fintech 198

Fintech Compliance Fraud social media 198

PYMNTS

JANUARY 31, 2020

However, the most intriguing development in the Open Banking world is not the impact of these two regulations inside of Europe, but outside of it. Other regulators in Australia, India and Singapore are examining financial innovation rules of their own, using GDPR and PSD2 as guidelines.

Digital Banking 136

Digital Banking Guidelines Regulation Data 136

PYMNTS

NOVEMBER 1, 2018

The ongoing struggle, supposedly existential in nature, that pits upstart, relatively young FinTech firms against arrogantly complacent banks for supremacy in this new and growing world of digital payments and commerce. Trust in Banks. It’s a bit more complicated than suggested by the CNBC article, to say the least.

Fintech 191

Fintech UX Mobile FDIC 191

PYMNTS

AUGUST 24, 2020

Moving to cloud-supported infrastructure is one way these banks could shore up their products and keep customer interactions seamless. Banks looking to make this shift must consider that these systems, as well as the data that underpins them, operate in fundamentally different ways than traditional banking operations.

Digital Banking 226

Digital Banking Software System Innovation 226

PYMNTS

FEBRUARY 4, 2020

Banking as a service (BaaS) startup Bankable is partnering with Visa to accelerate digital banking solutions, Bankable announced on Tuesday (Feb. clients access to Bankable’s real-time digital banking solutions and faster payments. The New York team will handle operations in London and Dubai.

New York 132

New York Regional Digital Banking Fintech 132

Insights on Business

FEBRUARY 13, 2019

How do banks prepare for this new reality? For Bradesco, a large Brazilian bank, NEXT is the answer. Next is a digital bank, completely disassociated from the Bradesco brand. Next has access to all of Bradesco’s ecosystem, ATMs, call center, internet banking. Next was born to complement Bradesco’s strategy.

Albuquerque 152

Albuquerque Digital Banking Millennials social media 152

PYMNTS

JULY 22, 2020

In the July Digital-First Banking Tracker® , PYMNTS explores the latest in the world of digital-first banking, including the long-lasting effects brought on by the pandemic, the shifting attitudes surrounding ATM use, and how the digital banking development field is reaping dividends from the financial industry’s sea change.

ATM 225

ATM Digital Banking Alabama Study 225

PYMNTS

NOVEMBER 27, 2019

In addressing the innovation gap that exists between credit unions and their larger financial institution (FI) brethren, credit unions (CUs) may be perceived to be at a disadvantage, at least when it comes to dollars. The partnership model can help offer a roadmap for CUs.

Innovation 215

Innovation Millennials Technology Examples 215