Mon.Feb 10, 2020

The Stories We Tell Ourselves About Open Banking

Chris Skinner

I recently spotted a great write-up on Open Banking by Alex Johnson, who has kindly agreed I can republish it. So, here we go … The Stories We Tell Ourselves About Open Banking Distinguishing between what’s true and what we want to be true.

Capital One’s Eno evolves to give proactive advice 

Bank Innovation

Capital One is determined to turn its digital assistant Eno into an affable, personal finance watchdog to build loyalty between the brand and customers.

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Things worth reading: 11th February 2020

Chris Skinner

Fiserv: Open banking key to banks’ survival 

Bank Innovation

As banks continue to explore best practices around handling customer data, insight from core technology provider Fiserv suggests open banking can help banks compete with fintechs and large incumbents alike. “By

Revolut Starts Open Banking Service For UK Customers

PYMNTS

Revolut has announced a new Open Banking feature that will allow customers to access all their bank accounts on a single app. The move will make everything easier and more efficient in dealing with people’s finances, according to a press release.

Fraud 266

Edison Partners’ Ford: Alternative banks are improving financial services

Bank Innovation

As the number of challenger banks increases, so do the number of options and access to financial services for their customers. Princeton, N.J.–based

NJ 222

More Trending

Edison Partners’ Ford: Alternative banks are improving financial services

Bank Innovation

As the number of challenger banks increases, so do the number of options and access to financial services for their customers. Princeton, N.J.–based

NJ 209

US commercial card spend expected to exceed $1 trillion by 2024

Accenture

US commercial card spend grew an estimated 13 percent in 2019 and strong growth is expected to continue through 2024.

Cards 247

Early Days: AI Shows Promise And Limitations For Retailers

PYMNTS

This is easy. Hire a data scientist. Or reassign the ones you have. Give said scientist(s) a budget to lease a Tensor Flo server with Google and start parsing transaction data. Use data to build an algorithm.

Retail 246

The Slow Death Of Checking Accounts

Ron Shevelin

Checking accounts have become paycheck motels--and they're on their way to extinction

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Inside The Fight For Digital Driver’s Licenses

PYMNTS

Biometric digital identity verification solutions are becoming more and more commonplace thanks to their implementation in everyday devices like smartphones and fitness wearables.

How Ignatica is tackling the legacy systems innovation logjam with new technology

Daily Fintech

Our first post on Insurtech in March 2015 was headlined “ Not That Many InsurTech Startups Yet”. Since then one fact has jumped out from our analyses over the past 5 years: there is a logjam caused by legacy systems that has not been tackled effectively until now by insurtech innovations.

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Visa On Bringing More Female Founders Into The Reinvention Of Retail

PYMNTS

In some ways, the dawn of 2020 is a golden time for female entrepreneurs — in that there are more female-founded firms than ever before. In fact, women are founding new firms at 1.5 times the rate of their male counterparts.

Retail 239

Loan Floors and the Zero Interest Rate Environment

Banker to Banker

EXTREME ALCO We are working with numerous community bankers to develop strategies for instituting floors on commercial loans

UK FinTech Seeks License To Bank Crypto Firms

PYMNTS

London FinTech startup DAG Global is going after the first merchant bank license in the U.K. that serves cryptocurrency businesses, multiple reports indicated on Monday (Feb.

The $27 billion business of food delivery

Payments Source

The rise in food delivery options is affecting restaurants of all kinds. It's a trend driven by consumers' strong appetite for mobile ordering and payments. Mobile payments Square Retailers Uber Gig economy Internet of things Mobile wallets

Trends 124

Fiat Chrysler To Debut Robot Taxis In China

PYMNTS

Fiat Chrysler , in partnership with Chinese-based AutoX , wants to launch robo-taxis in China later this year, according to an announcement.

The well-worn payment device

Matt Wilcox Pro

Now and then a product comes along that, seemingly overnight, proves indispensable, even though we had seemed to manage quite well without it before. The automobile comes to mind. So does Egg McMuffin. And, for a while, fidget spinners.

Retailers Focus On Visual Search For Apps, Kiosks

PYMNTS

Visual search and in-store kiosks are coming more into focus, with the category powering consumer adoption and shopping at a pace that has led executives to dub the business “ visual commerce.” Target, in one case, has incorporated Pinterest ’s visual search tool for a few years.

Retail 215

Why currency conversion is fading to the background

Payments Source

Whether it’s an online sale or a corporate supply chain, the need to silently transfer and convert currencies is inspiring a mix of rapid product development and investment. Cross border payments Digital payments Venture funding M&A

Online 111

PSCU Taps New Leaders To Advance Products, Innovation

PYMNTS

PSCU has appointed Denise Stevens as senior vice president and chief product officer, while Scott Young will head the product delivery leadership team as vice president of innovation, PSCU announced today (Feb. Stevens will oversee product delivery and management, as well as its innovation teams.

Facts & Figures of Amazon lending and the Goldman Sachs X-factor

Daily Fintech

As I was listening to Cathy Wood`s interview, CEO of ArkInvest , from the Exponential Africa Show ; she triggered an insight around investing and disruptive innovation.

Google Under Fire For Allegedly Promoting Own Travel Service Over Others

PYMNTS

More than 30 competitors in the travel holiday rental industry are accusing Google of promoting its own services over theirs, and one of them has submitted an official complaint to the European Commission, according to a report by the Financial Times.

Google 204

Card issuers aren't getting what they need from the cloud

Payments Source

Financial institutions and payment companies are embracing the cloud, but are not getting the desired results, contends Unisys' Maria Allen. Financial institutions ISO and agent Payment processing Cards Cloud hosting APIs

Cards 102

Retailer Hanna Andersson, Salesforce Are First Sued Under New California Privacy Law

PYMNTS

In retailing it’s usually a good thing when you’re the first to do something. Except when it’s a lawsuit. And except when you’re the first retailer to get rung up under the new California Consumer Privacy Act (CCPA). Although the law has only been in effect since Jan.1,

Heavy regulation still challenges gambling payments innovation

Payments Source

Sports betting is a boon for gaming payments, but technology compliance has long odds, says Global Payments Gaming Solutions' Christopher Justice. Digital payments ISO and agent Payment processing Merchant

B2B APIs Make More Connections

PYMNTS

Lingering issues of trust and a foggy regulatory climate continue to hold up B2B adoption of faster payments among financial institutions (FIs), but nothing can hold it back.

Visa extends Barclays multi-year card partnership

Payments Source

Barclays, which processes nearly half the U.K.’s s credit and debit card transactions, has signed a multi-year partnership that extends its 50-year relationship with Visa. Barclays Network rules Payment processing Visa

Cards 79

eCommerce Drives Logistics Job Boom

PYMNTS

The rise of eCommerce is an inexorable one, with real-world ripple effects that extend all the way to feet and wheels on the street — and, by extension, burgeoning payrolls. To that end, hiring within the logistics sector has gained ground, even beyond the holiday season.

Bank of America Board Approves $26m CEO Pay Award

Banking Exchange

The multi-million dollar package trails the most recent awards to Morgan Stanley’s James Gorman and JP Morgan’s Jamie Dimon Management Feature Feature3 People Performance Human Resources Financial Trends. 1Management