Why Chase decided to drop digital-banking app Finn
Bank Innovation
JUNE 6, 2019
JPMorgan Chase's millennial-friendly digital banking app Finn is shutting down, just one year after it rolled out nationally. The […].
Digital Banking Millennials Retail Security 
The growing interest in digital banks
Insights on Business
APRIL 28, 2017
There are interesting characteristics both in the new entrants and in the more established digital banks. Some of the most important elements mentioned by analysts and professionals can be divided into four models: Digital bank brands: Many established, full-service banks find it difficult to appeal to millennials.
Digital Banking 
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Mastercard Card Clearing In China, Unattended Retail, Rapid Settlements Top This Week’s News
PYMNTS
FEBRUARY 14, 2020
We have deep dives into unattended retail, rapid settlements and cybersecurity, as well as news on Mastercard receiving the go-ahead from China’s central bank to set up a bank clearing business. The consumer bank will be divided into one section focused on consumer lending, and the other on branches and small businesses.
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Teenager-Focused Digital Bank Wins Fresh Funding
PYMNTS
MAY 28, 2019
Much thought is given to millennials and even Generation Z — consumers who were born during fixed periods of time, and who are having an increasing impact on payments and commerce. But let’s not forget the role of the teenager in digital retail, financial services and transactions. Retail and Teenagers.
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Not Down For The Count, Cash Still Counts For Plenty
PYMNTS
MAY 4, 2017
Among the core reasons for this: The perception that the use of cash was more secure. As for demographics, Pierce stated that tech use does indeed skew younger, but that millennials do use a hybrid of cash and digital payments. Another lure, according to Pierce: “Being able to budget their money.”. Cash as a Budgeting Tool.
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Serving Mobile P2P Payments To The Gen X Crowd
PYMNTS
SEPTEMBER 24, 2019
Digital banks , for one, are teaming up with technology providers to accelerate settlement times for payments collected at the point-of-sale (POS). Legacy banks are similarly at work, with one major FI seeking to beat out FinTech competition by offering same-day access to credit card deposits. Find the full story in the Tracker.
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Top 5 Surprises from FICO’s Fraud and Digital Banking Survey
FICO
DECEMBER 5, 2022
Top 5 Surprises from FICO’s Fraud and Digital Banking Survey. Financial Institutions, such as banks, have expended great effort to improve digital security, yet bad actors are multiplying and attacks have increased in scope and frequency. FICO Admin. Tue, 07/02/2019 - 02:45. by Sarah Rutherford.
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How Payments Security Drives Digital Transformation
PYMNTS
SEPTEMBER 6, 2016
In a world where payments become more invisible the more digital they become, there’s never been a better opportunity to consider new ways to enable the digital transformation of financial services in a secure and compliant way. Or watch its digital disruption. Payments Security As A Digital Business Enabler.
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How Digital Will Change Brick-and-Mortar In 2019
PYMNTS
DECEMBER 11, 2018
Give a deep and welcoming hello to the newest form of window shopping — a consumer behavior that will help to shape retail in 2019 and beyond, and a trend that stands as an increasing part of shopping, one that promises to impact brick-and-mortar merchants as they decide how to innovate. That’s not to say physical retail is dying.
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The Digital Payments Preferences That Cross The Generational Divide
PYMNTS
SEPTEMBER 3, 2020
Beyond the wholesale shift to digital payments, Cole told PYMNTS in a recent interview, there are pockets of growth that are seeing more digital acceleration than others as lockdowns linger and businesses reopen on a staggered basis. Security Is Top Of Mind . As he told PYMNTS, “Payments behavior is generational.”.
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Future of Customer Experience in Digital Banking
Banking 2020
APRIL 28, 2015
Digital banks are no longer in the ‘money’ business but rather, in the ‘value’ business. Unlike in the past, when more than two products from one bank made a customer loyal, customer behavior is fleeting and their expectations for digital banking is increasing every day, because technology is giving them numerous choices and control.
Main Street?s Digital Shift, ATM Innovation, PPP Loans Top This Week?s News
PYMNTS
MAY 29, 2020
How are CUs utilizing videoconferencing capabilities on interactive teller machines (ITMs) to maintain their branch operations during the pandemic, and how is biometric technology helping them offer more secure, quicker and touchless ATM services? How To Keep Fraudsters From Scamming Banks Across Every Nook And Channel .
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How 60+ Startups Are Disrupting Retail And Commercial Banking Around The World
CB Insights
OCTOBER 10, 2018
See which startups are helping JPMorgan, Bank of America, and Citi build the digital banking platforms of the future. Why now for digital banking startups. Digital banking adoption among consumers and small businesses (SMBs) is at an inflection point. Incumbents Play Catch-Up. savings accounts.
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The open banking opportunity
Accenture
OCTOBER 3, 2017
Now, with PSD2 implementation across Europe just a few months away, new research from Accenture points to a major opportunity for UK banks: We’ve found that more than two-thirds (69 percent) of UK consumers say they won’t share their personal financial data with third-party providers. This should be music to the ears of UK bank executives.
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How 2015 is Different for Retail Banks
Banking 2020
JANUARY 15, 2015
The retail banking industry has seen major changes occurring in the industry over the last few years with the adoption of mobile banking, the rise to prominence of the millennial demographic, narrowing margins, stagnant top line revenues, the future of the branch and continued regulatory changes. Digital Banking.
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40 How Friendly Friction Builds Better Banking Experiences
PYMNTS
APRIL 4, 2019
And by all accounts, this digital migration is driven by consumer preference — according to the same study, 91 percent of mobile banking users prefer accessing their app over going to a physical branch, and 68 percent of mobile banking millennials believe their smartphones will eventually replace their physical wallet.
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SCA Readiness Fizzles In Face Of September Deadline
PYMNTS
JUNE 7, 2019
Spencer McLain, vice president, EMEA at Whitepages Pro, told PYMNTS that these merchants will start seeing declines on European-based transactions if they are not exempt by falling under certain thresholds, or if they do not apply 3D-Secure authentication methods to verify card-not-present transactions.
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Apple Pay Faces Hemispheric Pressure
PYMNTS
AUGUST 26, 2016
According to AppleInsider , although some retailers have announced plans for Apple Pay in the past, some still have not supported Apple Pay; Anthropologie and Forever 21 are two examples. Clydesdale Bank, Yorkshire Bank and digital banking service B began supporting Apple Pay for U.K. cardholders a week ago.
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Insights on Business
FEBRUARY 27, 2019
Think of the changes in the past ten years in terms of how we deal with our banking needs. We moved from telephone banking to online or internet banking. The iPhone became more popular and apps got better and more secure. How should banks prepare for the digital future? New business models.
FIs Most Underutilized Asset: Their Apps
PYMNTS
MARCH 24, 2020
Mobile banking apps are designed to make digital banking more convenient for customers, yet 21.7 This is true even for routine transactions, such as transferring money to friends and relatives or making retail payments. percent of consumers who use these apps are dissatisfied with them.
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150 New Report: Is Agile Processing The Answer For FI Woes?
PYMNTS
NOVEMBER 29, 2016
From shopping on fingertips to banking on the go, changing consumer demands are pushing banking and retail industry to undergo a rapid digital transformation. Yet, the need for access to brick-and-mortar banks and retail store locations remains strong. The Agile Processing model makes that a possibility.
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100 What’s Trending So Far In 2016
PYMNTS
MAY 30, 2016
To add insult to injury here, the Census Bureau’s accounting for online sales as a percentage of retail sales may not be keeping up with the reality of what consumers are doing. Digital Banking. The 411 On The Digital Banking Evolution. Digital Identity. Secure Convenience: The New Password Death March?
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100 The Role Of ATMs In Bank Omnichannel Strategy
PYMNTS
NOVEMBER 8, 2017
Pundits prophesy a cashless society — and indeed, vast swaths of consumers are migrating to digital and mobile channels for many of their banking needs, as shown by a decline in the number of brick-and-mortar retail bank branches. Millennials are taking a mobile-first approach to banking, driving that transformation.
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CaixaBank Launches imaginBank, a Mobile-Only Bank for Millennials
Fintech Labs Insights
JANUARY 15, 2016
Available only via mobile app, imaginBank is a new initiative by Spanish bank, Caixabank targeting millennials. CaixaBank CEO Gonzalo Gortázar said the new mobile-only bank was part of a “commitment to providing new services that perfectly complement the more traditional banking model.” CaixaBank serves 2.9
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Making the ATM part of a truly omnichannel service
NCR
FEBRUARY 17, 2017
That includes growth areas like mobile banking, of course, but also covers traditional cornerstones of retail banking like the ATM. In the rush to serve the tech-savvy millennial market and keep up with the latest developments in mobile and digital banking, some FIs might fall into the trap of overlooking traditional channels.
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Getting Mobile Ready
Independent Banker
OCTOBER 29, 2014
But how far are they willing to go to do their banking on small mobile devices? A consensus says that the future banking customer relationships—particularly for millennial consumers—will orbit to one degree or another around mobile technology. s entry into the payments business with Apple Pay. Ed Bachelder, payments consultant.
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Covid-19 Has Scrambled Fintech’s Winners & Losers. Here’s The Short- & Long-Term Outlook.
CB Insights
JUNE 3, 2020
Most notably, Covid-19 is contributing to an explosion in e-commerce at the expense of physical retail. This shift is driving transaction volume to the payments companies behind online retailers and taking market share away from those serving physical retailers. Banking and Lending. Wealth & Capital Markets.
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How To Compete With Banks: Start With First Principles
PYMNTS
MARCH 9, 2020
According to the Cambridge English Dictionary , a bank is an institution in which people and businesses can securely store and access their money and borrow it as needed. More than half of all consumers say that having a physical branch is important for a bank to be considered their primary bank. Let’s get back to basics.
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Gen Z’s Top Priorities When Selecting a Financial Service Provider
The Financial Brand
JANUARY 19, 2022
Retail bankers may assume they have Gen Z down pat. The post Gen Z’s Top Priorities When Selecting a Financial Service Provider appeared first on The Financial Brand - Banking Trends, Analysis & Insights. But traditional institutions and fintechs must earn the trust of these young consumers.
From ACH To IoT: Looking Back On A Year Of Trackers
PYMNTS
JANUARY 2, 2017
The spring brought coverage of mobile advertising and payments on the go at food trucks as small, smart device-powered businesses, and in the fall, we looked at the biggest trends in digital security at the annual Money20/20 Conference in Las Vegas. He also said that he sees applications for VR in industries other than retail.
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Has Unbundling Lost Its Cool?
PYMNTS
JULY 9, 2018
This is a common cable and/or software product development strategy in which bundles of features are wrapped into the base software package, but options such as enhanced security/malware upgrades or premium stations are also offered for an extra fee. Even the largest and oldest digital banks have only converted a few million customers.
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The Financial Industry’s Digital Transformation
FICO
JANUARY 19, 2018
A textbook example of this would be Amazon and eBay disrupting the retail sector. Through their own innovations and an overall advancement in technology, online retailers attracted customers away from legacy retailers with a wide variety of choices, low prices, and high convenience.
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The 2015 GonzoBanker Awards
Gonzobanker
DECEMBER 22, 2015
Bank Innovation named Jill one of the 10 most innovative CEOs in banking for 2015, and we doubt that Bank Innovation would know who Jill is if not for her presence on Twitter. Jill’s use of Twitter is a model for any bank CEO looking to engage on social media. FFIEC’s Cyber Security Self-Assessment Tool.
Finovate Fall 2016 Live Blog – Day 1
William Mills
SEPTEMBER 7, 2016
Perhaps there is a big bank in Canada that has embraced their technology. Silver Fusion Retail Outlet: Where Snowbirds Shop”. Integrated with major retailer API’s like Amazon, eBay, Best Buy and several other aspirational brands. It would be even better if it integrated with the retailers app (which they may be doing).
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Why Google’s Deal With Citi Isn’t About Becoming A Bank (But Is Still A Big Deal)
PYMNTS
NOVEMBER 18, 2019
According to that same study, among bridge millennials , the consumer group between the ages of 30 and 40 who represent the first generation of connected consumers with buying power, Google rises to No. And if they trust Google and their bank partners to enable that end-to-end, everyday app ecosystem experience.
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Ready for a Sneak Peek? How to Best Prepare for FinovateFall
Fintech Labs Insights
AUGUST 1, 2016
It leverages 45+ years of franchise operations experience to help retail investors finance franchises, helping to bring them to market quicker. Daon bridges convenience and security by offering financial services companies a mobile biometric authentication platform that turns a smartphone into a mobile capture device.
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A First Look at What’s Coming to the FinDEVr Stage this October
Fintech Labs Insights
JULY 22, 2015
Backbase will talk about its Digital Banking Platform and its Open Banking Marketplace. Fueled by a strong, open API strategy, Backbase’s platform gives FI’s the ultimate freedom and flexibility to work with any core and third party vendor, to create a best-of-breed digital banking offering for their clients.
First Wave of FinDEVr Silicon Valley Presenters Revealed
Fintech Labs Insights
AUGUST 16, 2016
In the meantime, get to know the innovative established and startup organizations below: 1787fp’s mobile financial app helps millennials and young professionals track their finances and manage investments through one unified financial planning tool. We’ll announce the remaining stealth companies over the next two months.
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24 Industries & Technologies That Will Shape The Post-Virus World
CB Insights
JUNE 17, 2020
Retail: Shopping goes even more online as grocery joins the e-commerce revolution. Finance: Demand for contactless options accelerates digital adoption. Branchless banking. Security: Higher internet usage and data generation lead to increased investment. Remote learning technology. Online courses & content.
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101 FinovateFall 2015 Presenting Companies Announced
Fintech Labs Insights
JULY 16, 2015
D3 Small Business Banking brings omnichannel, data-driven, digital banking solutions for small business customers of financial institutions. Fiserv’s Digital Banking Solution helps financial institutions deal with the continuously increasing demands of end users for impactful banking experiences.
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12 How Technology Is Leveling The Playing Field In Banking
PYMNTS
APRIL 6, 2016
In a recent conversation, Richard Steggall, Co-Founder and CEO of Urban FT , and MPD CEO Karen Webster got philosophical as they addressed how technology’s impact in the banking space has begun to mirror what it’s already done in retail — in effect, “democratizing” the playing field for services of all sizes and scope.
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Sleepless In Payments
PYMNTS
MARCH 7, 2016
Take physical retail. Who hasn’t gone into a retailer with the intention to buy one thing, only to see a few others that you never knew existed and then end up buying those things instead – and probably also spending more? So what would physical retail look like if it were run like the best online etailers ?
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100 Fall In! FinovateFall 2015 Presenting Companies Revealed
Fintech Labs Insights
SEPTEMBER 1, 2015
Advisor Software is a Cloud provider of sophisticated wealth management and digital investment advice APIs and apps for financial services enterprises. Alfa-Bank offers a wide range of products and operates in all sectors of the financial market, including corporate and retail lending.
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The 2016 Presidential Election And Banks’ Next Four Scary Years
PYMNTS
OCTOBER 31, 2016
Just a week ago, he said publicly that he’s now “gravely concerned” about banks wanting to limit access to their assets, like customer data, to innovators who, without it, have no way to ignite their own ideas and monetize them. Never mind the cost and security issues that it raises for banks. BANKING’S LATEST THREAT — APIs.
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