PYMNTS

JULY 1, 2020

“Migrating to cloud- and AI-based solutions could help FIs handle growing calls for faster banking tools during the COVID-19 pandemic, and recent trends show they are beginning to do so,” according to PYMNTS’ June 2020 Digital Banks And The Power Of The Cloud Tracker® done in collaboration with NuoDB.

System 268

System Digital Banking Tools User Experience 268

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

DECEMBER 31, 2020

Like their cousins in banking, credit unions (CUs) long enjoyed a relaxed pace of technological change. Consumers waited on financial institutions (FIs) to innovate in an odd relationship that put business needs before customers’ needs. They must confront one major obstacle in doing so, however: big banks. Not anymore.

Survey 235

Survey Arizona Innovation Innovation Strategies 235

PYMNTS

JUNE 26, 2020

This is because many legacy FIs in particular are still reliant upon legacy infrastructure, which is simply not designed to handle the sheer volume of data generated in today’s digital banking sphere. The FI officially opened the digital platform to U.S. How N26 Is Using Cloud Core Banking for Nimble Mobile Innovation.

Meeting 227

Meeting Mobile Digital Banking Tools 227

PYMNTS

SEPTEMBER 22, 2020

Consumers moved to digital banking in droves during the early months of the COVID-19 pandemic — it appears they are not moving back. Consumers pivoting to online banking are also more concerned over the privacy and security of their data, especially as fraud volumes creep up —and financial regulators are taking notice.

Compliance 191

Compliance Digital Banking Security Online 191

NCR

MARCH 12, 2018

Some of the most significant recent trends in financial services – such as the ongoing growth of the mobile channel and the expansion of the fintech market – have demonstrated that the evolution of the industry is being driven by technology. Image: chombosan via iStock.

Analytics 75

Analytics Digital Banking Analysis Branding 75

PYMNTS

FEBRUARY 26, 2020

Back then, FinTechs asked for forgiveness instead of permission, rushing headlong into markets, disrupting them and operating in newly invented spheres of finance that regulators barely understood. The party always ends, however, and governments have caught up to all that wild innovation. Now, they’re laying down the law.

Regulation 130

Regulation Case Study Fraud Study 130

Accenture

APRIL 26, 2017

Given that this trend is coinciding in with an ongoing shift by younger consumers towards more innovative channels—the likes of wearables, social media and instant messaging—it’s possible that the continued strong usage of branches is a transitory effect. But our study gives no indication of that. Stay tuned. [1-5]

Millennials 233

Millennials social media Innovation Study 233

PYMNTS

OCTOBER 10, 2019

Consumers have noticed the rising levels of fraud in digital banking, and they are not pleased. In fact, one recent study found that 71.2 Around the Digital Banking World. Regulators as well as banks are searching for ways to keep launderers and other fraudsters out of online banking.

Fraud 126

Fraud Digital Banking Strategy Security 126

PYMNTS

JUNE 9, 2020

In the battle against digital challenger banks, credit unions (CUs) may be facing a bit of a perception/reality gap — and losing market share as a result. Especially their brick-and-mortar footprints tied to the digital branch. Especially their brick-and-mortar footprints tied to the digital branch.

Digital Banking 133

Digital Banking Millennials Lending Marketing 133

NCR

JULY 28, 2017

This convenience offers many advantages to the consumer, but financial institutions and consumers need to recognize one of the biggest disadvantages of this technological expansion: the increased risk of digital banking fraud. Digital banking fraud affected 14 percent of consumers in 2016, up from 12 percent in 2015.

Fraud 74

Fraud Digital Banking Survey Security 74

PYMNTS

JULY 24, 2020

Open banking is often associated with the European Union (EU) almost by default as the region pushes the envelope further on regulation than anywhere, partly to encourage — but also to keep up with — imaginative FinTech innovators going to market throughout the Eurozone.

America 168

America Regional Regulation Fintech 168

Abrigo

DECEMBER 17, 2021

Takeaway 1 Having a cohesive vision from the top down is critical to a culture of innovation and the successful adoption of new software. . It’s great that more financial institutions are welcoming technological innovations, but banks and credit unions must consider the long-term impact of their partnerships. Start at the Top.

Fintech 195

Fintech How To Innovation System 195

PYMNTS

JULY 24, 2019

That agility is in evidence with the speed at which tech-focused players bring new products and services to market, said Cohen. That’s especially a challenge for legacy FIs as digital transactions and the online economy continue to take root. Open Banking. Trust in Digital Banking. “It’s

Digital Banking 160

Digital Banking UX Online Innovation 160

PYMNTS

FEBRUARY 25, 2020

Banks and legacy financial institutions (FIs) might be wise to study what disruptive technologies recently did to the print publishing industry, taxi cabs, network TV, and a host of other businesses that were disintermediated with little to no warning in recent years.

Mobile 153

Mobile Cards social media Survey 153

Bank Innovation

SEPTEMBER 11, 2018

Cross-selling new accounts or new products/services to consumers is damaging a bank's customer loyalty as well as causing existing customers to give their financial institution a lower Net Promoter Score (NPS), according to a new study. This means that new customers should be immediately marketed an additional product.

Study 150

Study Marketing Report Digital Banking 150

PYMNTS

SEPTEMBER 28, 2020

The aim of doing so is to create a more robust framework for digital banking. This is also the aim behind several regulatory changes taking place in other MENA markets, notably Egypt. The country’s Data Protection Law was announced in 2019 and officially came into effect in July 2020.

Online 151

Online Report Payments Regulation 151

Celent Banking

JANUARY 20, 2017

Ongoing innovation in banking technology is clearly beginning to pay off, and we’ve been privileged to learn an immense amount from all of the financial institutions that took the time to tell us about their how they’ve been using technology and innovation to serve customers better, become more efficient, and mitigate risk.

Case Study 100

Case Study Boston Innovation Massachusetts 100

PYMNTS

FEBRUARY 24, 2020

billion-strong, high-spending consumers and their willingness to adapt to new technologies, trends and products may represent the economy of the future for many banks and businesses, but it is notoriously difficult for firms to enter and compete in this market. Chinese regulatory shifts mean world changes .

Regulation 160

Regulation Policies Data Compliance 160

PYMNTS

JULY 1, 2020

The details are offered in Building a Better App: Banks and the Innovation Imperative Report , a collaboration between PYMNTS and Ondot Systems, the Silicon Valley-based FinTech. Such an app could potentially involve as much as $2 trillion in card spending. . This prospect represents risks and opportunities for FIs.

Survey 183

Survey Cards Millennials ATM 183

PYMNTS

NOVEMBER 25, 2019

PYMNTS’ Credit Union Innovation Index found that 65 percent of such members chose their CUs because they trusted them, for example, with 60.8 A recent Financial Crimes Enforcement Network (FinCEN) study found that 162 CUs across the U.S. A California Credit Union Keeps its Marketing Efforts Trusted and SAFE.

Alaska 154

Alaska Hawaii California Analytics 154

Bobsguide

SEPTEMBER 23, 2022

The out-of-the-box processing capability offered by Finastra’s Payments Hub solutions, enabled by Visa Direct and available on premises or in the cloud as SaaS, will enable banks to bypass these complexities with an integration to the Visa network through Finastra’s FusionFabric.cloud open development platform. Global Head of PR.

Case Study 74

Case Study Innovation Payments Study 74

PYMNTS

NOVEMBER 19, 2020

Evidence suggests that one of the most effective ways they can continue to engage their member bases is to roll out personalized services, such as financial management and budgeting tools, card management options and targeted marketing initiatives. For more on these stories and other CU headlines, read the Tracker’s News and Trends.

Alabama 228

Alabama Meeting Fraud Trends 228

PYMNTS

MARCH 3, 2020

Mobile and online banking’s prevalence has reduced physical branches’ importance, but these brick-and-mortar establishments are still vital to customers’ financial lives. Even millennials , who heavily lean on remote banking, still visit physical bank locations for more complex functions, such as loan applications. million.

ATM 151

ATM Fraud Study Regional 151

PYMNTS

APRIL 4, 2019

So it is with financial services – and so it is, specifically, with innovation within financial services. After all, ready or not, demand comes for faster payments, for easier onboarding, for digital wallets and security, above all else. The study found the portion of FIs that completed innovations early in 2018 stood at 26.7

Innovation 119

Innovation Fintech Survey Customer Experience 119

PYMNTS

JANUARY 29, 2019

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. The Union of Arab Banks (UAB) has said in a study that such a movement would change the way Arab banks provide financial services. . Outside U.S.

Fintech 145

Fintech Cards System Groups 145

South State Correspondent

OCTOBER 26, 2023

The topics were perfect, and there were some great case studies, but the substance was standard, bordering on underwhelming. Banks will need annual authorization to use the data and will need to “minimize” the data that is being used to just the essential elements, thereby putting a crimp in future bank marketing efforts.

Conference 221

Conference Las Vegas Fraud Case Study 221

PYMNTS

OCTOBER 25, 2019

The overarching approach has been to bring API standards to bear so that financial firms can speed the time it takes to bring new products and services to market. Open Banking will create the infrastructure for innovation,” van Dam said. Challenges abound, of course, just as they do in any market. Probably the U.K.

Fintech 111

Fintech Case Study Maine Innovation 111

PYMNTS

DECEMBER 17, 2019

Headlines are filled with reports of service outages and data breaches , and both banks and consumers are contending with rising fraud concerns as digital banking takes off. Fraud threatens everyone, yet customers rely on their banks for protection. The Technology Gap That Fosters Fraudsters.

Technology 142

Technology Fraud Data Security 142

PYMNTS

JUNE 1, 2020

Consumers appear receptive so far, and the market will see whether contactless payments become a habit that continues even after the pandemic ends. This belief ha s spurred New Zealand and Ireland both to lift value caps on tap-and-go transactions to encourage greater use of the contactless payments.

United States 132

United States Cards Payments Digital Banking 132

Fintech Labs Insights

MARCH 15, 2024

This time around he’s going after an even bigger market, AI in financial services. The event is organized by industry veteran Bruce Burke who first landed on the events radar with his well-timed Social Mobile Payments conference launched in 2011.

Conference 15

Conference Las Vegas Fintech Case Study 15

PYMNTS

MAY 3, 2019

The latest edition of the PYMNTS Weekender also features fresh and original research on AP innovation and digital platforms. Under the partnership, Visa members will be able to access Bankable’s platform so they can launch digital banking and real-time payment services. Why AP Innovation Stalls. Top Stories.

blockchain 108

blockchain Maine Retail Operations 108

Gonzobanker

FEBRUARY 26, 2019

“There are startups that want to destroy banks and startups that want banks to buy their software. Luckily for the banks, there are many more of the latter than the former.” – Bank Innovation. Recent fintech deals across digital, lending, payments and infrastructure are telling a big story. Money talks.

Fintech 100

Fintech Analytics Lending Case Study 100

CFPB Monitor

MARCH 2, 2020

In November 2016, the Bureau issued a request for information (RFI) about market practices related to consumer access to financial information. After examining the dynamic market and consumer protection issues created by data access challenges, the CFPB declined to pursue prescriptive rulemaking. John Pitts, Policy Lead, Plaid.

Data 78

Data Policies Groups Fintech 78

PYMNTS

SEPTEMBER 19, 2019

Banks cannot afford to ignore this frustration if they wish to remain competitive, especially with 76 percent of users preferring to open accounts on mobile, according to one recent study. AI, ML Innovations Necessary to Stop Account Opening Fraud. FIs in certain markets, such as the European Union and U.K. ,

Fraud 144

Fraud Data Mobile Tools 144

PYMNTS

OCTOBER 4, 2019

Visa Powers Revolut’s Global Expansion Into 24 New Markets. Businesses, banks and payment providers worldwide are innovating the way disbursements are sent and received to better serve the needs of this group of consumers. Top Stories. Inside Taco Bell’s Omnichannel Overhaul. How Google Maps Predicts The Payments Future.

Fraud 108

Fraud Google Apple Chicago 108

PYMNTS

OCTOBER 29, 2018

The day after Halloween marks the 60-day sprint to the end of the year – a year in which the pace of innovation has accelerated materially. The shifts associated with that innovation are beginning to take root, and those impacts are beginning to be felt. In fact, according to our recent study, they come in dead last.

Payments 196

Payments Google Apple Innovation 196