PYMNTS

MAY 1, 2020

Open banking developments were impacting customers’ interactions with their banks before the COVID-19 pandemic. have passed laws or implemented programs over the past two years to put more focus on digital banking and data security, fundamentally changing how online transactions work. Consumer Trust Drives Open Banking .

Innovation 245

Innovation Regulation Digital Banking Security 245

PYMNTS

MARCH 17, 2020

One , a new digital banking service in the U.S., The company also announced a Series A funding round that raised $17 million from Foundation Capital, Obvious Ventures and Core Innovation Capital. One will combine the technology and convenience of challenger banks with a full-suite of products that traditional banks offer.”.

Digital Banking 130

Digital Banking Capital Innovation System 130

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

APRIL 27, 2020

The number of online banking customers is growing worldwide, and FIs’ consumers are coming to expect seamless digital experiences as a result. One study recently determined that the number of digital banking users is expected to exceed 3.6 Forty-three percent of U.S.

Digital Banking 248

Digital Banking Tools social media Mobile 248

PYMNTS

JANUARY 31, 2019

The new Digital Banking Tracker highlights how banks are adopting new approaches to protect their customers and clients from nefarious actors. News From The Digital Banking Landscape. In the UAE, for instance, a group of banks recently banded together to crack down on acts of check-related fraud.

System 197

System Fraud Digital Banking Groups 197

PYMNTS

FEBRUARY 1, 2019

These solutions can be implemented to review expansive volumes of bank transactions and data points to help banks detect questionable activities and broader patterns of potential fraud. But as Jeremy Balkin, head of innovation for Swiss bank HSBC , recently told PYMNTS, even AI and ML need assistance sometimes — from humans. .

System 123

System Digital Banking Fraud Customer Experience 123

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

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

APRIL 30, 2019

Cross River Bank, a company that provides banking services for FinTechs, has partnered with payments processor and tech provider RS2 Software to provide an improved payment and digital banking experience for its customers, the companies announced.

Digital Banking 179

Digital Banking Payments Software Fintech 179

PYMNTS

JULY 30, 2020

s central bank announced on Thursday (July 30) that it has hired IT firm Accenture to revamp and modernize what is known as the Real-Time Gross Settlement (RTGS) service, which handles daily transactions worth more than $895 million between large financial institutions (FIs). s central bank is weighing whether to launch a digital currency.

System 159

System Payments Risk Management Innovation 159

PYMNTS

NOVEMBER 23, 2020

Banks, merchants, issuers, processors — they’re all locked in combat with shadowy fraudsters that gain system access via phishing emails as easily as mice sneak into old houses. Digital payroll tools are proliferating as workers and consumers steer financial institutions (FIs) and adjacent operators with preferences and spending power.

System 165

System Management Tools Cards 165

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. These projects range from less visible, but equally important, system upgrades on the back-end and more visible ones like installing Softbank’s robot Pepper in its New York flagship. operations.

Innovation Strategies 199

Innovation Strategies Strategy Innovation New York 199

Chris Skinner

MAY 2, 2018

I was recently interviewed by the highly innovative German bank Wirecard the other day, for their blog.

System 289

System Payments Innovation Digital Banking 289

Bobsguide

APRIL 2, 2019

Banks must act quickly to cannibalise their core banking systems or risk losing market share to newbuild challengers. “Incumbents cannot be innovating in the future,” said CEO of digital bank Pepper, Michal Kissos Herzog. “You actually need to take the decision to cut off the.

System 100

System Digital Banking Innovation Marketing 100

PYMNTS

JANUARY 27, 2021

Financial institutions (FIs) around the world are confronting these issues with numerous digital implementations , as 85 percent of banks are offering some form of digital account opening, for example. This increased digital presence also brings a greater risk of digital fraud, however.

Security 213

Security Innovation Fraud Study 213

PYMNTS

FEBRUARY 22, 2019

Consumers take a somewhat binary view of the features and functions that come packaged as innovative: They either believe those innovations can solve problems and, therefore, embrace them or the consumers go somewhere else that offers legacy features and functions. Beauty In Banking Is More Than Skin-Deep.

Innovation 153

Innovation Regional System America 153

PYMNTS

FEBRUARY 24, 2020

CULedger’s MemberPass solution is a blockchain-based system that facilitates frictionless identity verification. PSCU , the credit union service organization (CUSO), announced on Monday (Feb.

blockchain 205

blockchain System Strategy Regulation 205

PYMNTS

AUGUST 22, 2019

Banks are not just competing for customer engagement and retention — they are also vying for funding and resources as they overhaul their infrastructure and banking tools. The latest Digital Banking Tracker examines how legacy institutions stay competitive with challenger banks. Competition Can Lead to Innovation.

Digital Banking 166

Digital Banking Mobile Study Data 166

PYMNTS

JULY 8, 2019

These days, no matter how creative, innovative and disruptive an idea a financial services player may have, the reality is they don’t have a lot of time to sit around developing it. It was a solution designed, according to DeRosa, for companies with innovative roadmaps that need fast, flexible support.

Innovation 212

Innovation Cards Data Analytics 212

The Financial Brand

JULY 29, 2021

Having innovation as a priority is the first step, but it rarely goes further without first overcoming common roadblocks. The post 4 Reasons Why Digital Banking Teams Struggle to Innovate appeared first on The Financial Brand - Banking Trends, Analysis & Insights.

Digital Banking 43

Digital Banking Innovation Banking Trends Analysis 43

PYMNTS

MARCH 7, 2019

However, the way payments innovation is pursued — and becomes reality — is changing, too. The rise of Open Banking is helping to open up payment ecosystems, encouraging collaboration between traditional financial firms and smaller, tech-focused upstarts. million machines that span the globe have run on Windows operating systems.

ATM 194

ATM Innovation Payments blockchain 194

PYMNTS

MARCH 2, 2020

To provide its digital banking experience to more financial institutions, Clinc is teaming with Visa in a partnership that brings artificial intelligence (AI) technology to payments and banking customers. The company was started in 2015 by University of Michigan AI and systems research professors.

Digital Banking 149

Digital Banking Michigan Cards Technology 149

PYMNTS

OCTOBER 21, 2020

Volante says it will be working with the Mexican bank, one of the world’s largest, to modernize its cross-border payments architecture. In particular, VolPay is a “cloud-native” and “API-ready” system that provides “end-to-end processing of domestic and international payments,” according to Volante.

System 140

System Payments Digital Strategies Capital 140

PYMNTS

JULY 15, 2019

Of all the banking institutions releasing Q2 earnings this week, watch for JPMorgan, whose strong performance can be credited to a growing millennial customer base and continued digital innovation. Digital innovation enhanced the company’s Q1 earnings performance, which surpassed analyst’s predictions.

Innovation 139

Innovation Millennials Conference cryptocurrency 139

PYMNTS

FEBRUARY 4, 2019

Microsoft was significantly behind that, with 5,903 patents, but that’s still good enough for the global major leagues when it comes to AI research and innovation. Those growth rates are not the whole story when it comes to AI research and innovation, however. -based IBM has 8,902 AI patents, the biggest such collection in the world.

Innovation 194

Innovation Study Fraud Technology 194

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. But, Lynch noted, it is still a starting point. For example, 49.1

Innovation 141

Innovation Fintech Fraud Security 141

PYMNTS

NOVEMBER 1, 2019

The South Korean government said it was going to run the pilot phase and assess the system and its performance, as well as make adjustments as necessary. The system will be released to FinTech firms by Dec. At first, 10 banks will participate in open banking, and then it will be open to others.

System 101

System Fintech User Experience Fraud 101

Bobsguide

AUGUST 10, 2022

GFT has been identified as a leader in the field of digital banking by analyst firm Quadrant knowledge solutions. Cloud native digital banking solutions have set new standards in the industry. New banking entities can now be set up in as little as twelve weeks – compared to years when using legacy technology.

Digital Banking 68

Digital Banking Groups Technology Innovation 68

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). . You use so much software, so many different tools and systems that it’s hard to keep up,” the company said. the company said in a blog post on Monday (Feb.

Digital Banking 115

Digital Banking Software Tools Innovation 115

PYMNTS

AUGUST 24, 2020

Financial institutions (FIs) worldwide are searching for solutions that can help them swiftly support customers, but this means many are becoming more aware of their legacy systems’ inadequacies. Moving to cloud-supported infrastructure is one way these banks could shore up their products and keep customer interactions seamless.

Digital Banking 226

Digital Banking Software System Innovation 226

PYMNTS

DECEMBER 14, 2017

Not innovating is not an option. Perhaps in the early days of digital banking and mobile apps, innovative technology was a “nice to have,” but that is no longer the case. The Bank Innovation Readiness Index , in collaboration with payments solutions provider i2c , provides evidence to back that up.

Innovation 162

Innovation Branding Payments Survey 162

PYMNTS

FEBRUARY 27, 2020

Online and mobile banking’s increasing popularity has driven many credit unions (CUs) to embrace self-service models, emphasizing ATMs, digital banking and other remote services, and reducing physical branches’ importance. Being in the top ranks for CU education is not enough to ensure success, however.

Nevada 131

Nevada Innovation Security ATM 131

PYMNTS

JULY 18, 2019

Depending on where you look, the chasm yawns wide when it comes to innovating with new technologies or features. In a PYMNTS interview with Karen Webster, Joe DeRosa, EVP of Global Sales at i2c , discussed the findings of the July 2019 Innovation Readiness Playbook , subtitled “Leveling the Playing Field for Different-Sized FIs.”

Innovation 155

Innovation Study Technology Millennials 155

Chris Skinner

JUNE 15, 2017

These were incredibly expensive systems that were designed to trawl through terabytes of data. This was a trend at the end of the last decade for the big market makers to pay megabucks to have their servers placed as near as possible go the stock exchange systems. In other words SSDD: Same Sh*t, Different Day.

System 268

System Data Analytics Trends 268

PYMNTS

JUNE 1, 2020

That is why it is critical for FIs to build out networks that can handle an increased amount of transactions or swiftly analyze large reams of data, according to Ali Niknam , CEO and founder of European digital bank Bunq. The third benefit is becoming critical to the evolving banking industry.

Innovation 132

Innovation Strategy Innovation Strategies Security 132

PYMNTS

JULY 20, 2017

New players on the digital banking scene are hoping to change the game by looking to industries that are categorically unlike banks for inspiration. Over the past few years, dozens of so-called digital-only “challenger” banks have emerged on the financial scene, ready to compete with larger more traditional banks.

Digital Banking 128

Digital Banking Video Mobile Survey 128

PYMNTS

OCTOBER 14, 2019

If a bank flags transactions over a certain limit, for example, a bad actor can easily avoid making transactions that surpass it. The continued globalization of digital banking is another issue, enabling quick money movement that can be used by legitimate businesses as well as cybercriminals. AML and the problem of innovation.

Strategy 109

Strategy Fraud Innovation Regulation 109