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The Next Killer Digital Banking Feature Doesn’t Come from Being ‘Boring’

Gonzobanker

According to Cornerstone’s Digital Banking Performance Metrics study, the percentage of new accounts opened in digital channels dropped for the second straight year. That’s not what’s happening with digital banks and fintech firms. Some digital banks in the U.K., Nor is it a winning strategy.

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Monzo Security Flaw Affects 500K Customers

PYMNTS

Monzo, one of the world’s largest digital banks, discovered a security flaw and is now asking half-million of its customers to change their personal identification numbers (PINs), TechCrunch reported on Monday (Aug. According to Monzo’s blog , the bank noticed on Friday, Aug. No one outside Monzo had access to these PINs.

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Grasshopper Bank advances inclusion, stamps out ‘pattern matching’

Bank Innovation

New York City-based Grasshopper Bank is geared toward startups, with a focus on pain points for founders. Grasshopper opened in May 2019 after securing FDIC and OCC approval, a rare distinction for a digital-only bank.

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Popular Bank Implements Branch Realignment in the New York Metro Region to Enhance Focus on Communities and Small Business Support

PopularBank

Popular”) (NASDAQ: BPOP), bank holding company of Popular Bank, today announced Popular Bank’s strategic realignment of its New York Metro branch network. As part of the realignment, select branches of Popular Bank will be consolidated, resulting in 11 branch closures. President and CEO Ignacio Alvarez. “We

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Deutsche Bank, PNC Plan To Reduce Brick-And-Mortar Bank Branch Footprints

PYMNTS

Banks from the United States to Europe are closing bank branches as consumers embrace digital banking amid the pandemic. Securities and Exchange Commission (SEC) filing per the outlet. And Pennsylvania-based Northwest Bank announced the closure of 40 branches throughout its portfolio, YourErie reported.

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Proposed new cyber security regulations will be a huge undertaking for financial institutions

Celent Banking

New York State Department of Financial Services (NYDSF) is one step closer to releasing cyber security regulations aided by the largest security hacking breach in history, against JP Morgan Chase. Mandated training of security will be required. Information security. Systems and network security.

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Affinity Federal Credit Union On The Importance Of Accelerating Digital Transformations

PYMNTS

Embarking On A Digital Transformation. The CU, which has 20 branch locations within the tri-state area that includes New York and Connecticut, has upgraded its automated services to incorporate integrated cloud-based technologies and environments that involve artificial intelligence (AI). Prioritizing Upgrades.