Fri.Sep 06, 2019

Banks, merchants look for reforms, resilience in the face of natural disasters

Mobile Payments Today

Banks and payment networks found themselves highly vulnerable to the recent spate of major hurricanes.

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Bringing Biometric Payments To Retail

PYMNTS

Amazon is reportedly testing a biometric payment system with a handful of customized vending machines for employee use. In disbursements news, a sizable portion of U.S.

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Radius bundles savings and debit rewards to build brand and deposit base

Bank Innovation

In a bid to grow its deposit base, digital-only Radius Bank is folding debit-based rewards and high-yield savings into one product called Rewards Checking. The account offers 1% cash back on debit transactions and up to 1.2% APY on savings.

Food Startup Novameat Can 3D Print Alt-Meat Steaks

PYMNTS

Novameat, a Spanish food startup that wants to bring plant-based meat alternatives to the public, has gotten an investment from New Crop Capital to bring its 3D printed plant-based steaks to market, according to a report by TechCrunch.

Even Financial raises $25m to help banks automate customer acquisition

Bank Innovation

As banks increasingly take transactions to digital channels, the process to acquire customers also is shifting online thanks to technology that matches product offers to customers based on data. Indeed, Even Financial, a four-year-old startup, has built just such an API to help banks find customers.

Inside Australia’s Push For A Safe And Trusted Digital ID

PYMNTS

The use of digital identities is becoming commonplace, and consumers are largely satisfied with their presence.

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Weekly Wrap: Radius launches rewards checking, as Credit Sesame expands its tools

Bank Innovation

Welcome to the latest episode of our weekly wrap video series, for the week ending Friday, September 6, 2019.

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More Trending

August Jobs Report: Hiring Slows, but Wages Increase

Abrigio

This morning’s BLS Employment Situation Report showed a disappointing 130,000 net jobs created for the month of August. Analysts had anticipated a gain of 150,000 jobs. Moreover, 25,000 of those jobs created were by the Federal Government due to hiring for Census-related activities.

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Citigroup Makes Credit Card Push

PYMNTS

Even as the economy in the United States softens, Citigroup has been making a push for credit cards. The company is said to be among the most aggressive zero-interest balance transfer promoters, Reuters reported.

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10 Considerations for Switching your ATMs to Windows 10

ATM Marketplace

When Microsoft first announced that it would end general support for Windows 7 in January 2015, followed by the end of the extended support program on January 14, 2020, these dates were seemingly light-years away

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Why WeWork’s IPO Strategy Could Make Investors Swipe Left

PYMNTS

Investing in IPO s is a bit like dating. The firms going public want to make themselves look as attractive as possible. Typically, that means showing rapidly growing top lines – ideally rapidly growing earnings per share.

A ‘Housing First’ Approach to Homelessness

ABA Community Banking

The goal: help the individual or family obtain housing quickly, increase self-sufficiency and keep them housed. The post A ‘Housing First’ Approach to Homelessness appeared first on ABA Banking Journal. ABA Banking Journal Community Banking Featured Affordable housing Bank community engagement

Small Biz FinTech Leads End-Of-Summer B2B VC

PYMNTS

In the waning days of summer, venture capitalists appear to be in a lull: only $51.2 million was placed with B2B FinTechs this week. Startups in India saw the majority of that activity, while France and the U.S.

Salt Edge integrates with more than 400 Open Banking APIs

The Paypers

(The Paypers) Salt Edge has added another one hundred to the list of its connected Open Banking APIs in the EU, making it 400+ integrations

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Fitbit Exec To Helm CVS Health Initiatives

PYMNTS

Fitbit executive Adam Pellegrini will leave the company to join CVS and spearhead its initiatives in consumer health, according to a report by CNBC. Pellegrini will start his position on Monday (Sept. His official title will be senior vice president of transformation consumer health products.

AI and machine learning are here—is your workforce ready?

Cisco

Retail banks are taking artificial intelligence and machine-learning technologies and running with them. Armed with these tools, they’re adding speed and ease to banking and completely transforming the customer experience.

Walmart Amazon Whole Paycheck Tracker: Fingerprints, Firearms And FedEx 

PYMNTS

Both Amazon and Walmart topped the headlines this week, albeit for very different reasons.

Podcast: A deeper look at ATM managed services

ATM Marketplace

In this podcast, Adam Hobelmann, VP of sales and marketing at Burroughs, talks about the company he works for and the changes he's seen in the ATM managed service business

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Disrupting Wellness DTC With Text Messaging

PYMNTS

The power of marketing to persuade is an interesting phenomenon in the age of Instagram because, stated simply, some ideas look better in pictures than they sound by description.

Are Chinese-made ATMs a risk?

ATM Marketplace

As the trade war between the U.S. and China continues to rage on, the ATM industry could eventually find itself in the crosshairs. How are financial institutions and IADs to protect themselves

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Flipkart’s PhonePe Valued at $7B; Boosts Walmart Shares

PYMNTS

The payment arm of Flipkart, PhonePe, has been valued at $7 billion by Morgan Stanley, according to reports. The news is good for Walmart, which owns a majority portion of Flipkart. Walmart shares hit an all-time high of $118 on Thursday (Sept.

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This week in Fintech

Daily Fintech

Every day we bring you fresh insights about Fintech from an elite group of Authors who are just like you – senior executives, entrepreneurs and investors working in the global Fintech revolution.

B2BE, LiquidFrameworks Integration Aims For Faster AR

PYMNTS

B2B eCommerce solution provider B2BE announced a collaboration Thursday (Sept. 5) with mobile field operations management firm LiquidFrameworks, with the companies working on data integration to connect field data to organizations’ back offices.

North Carolina group switches plan from de novo to M&A

BankThink

Skip Brown, an executive with the the Winston-Salem Banking Group, says it has signed a letter of intent to buy a community bank three months after withdrawing a charter application. M&A De novo institutions Community banking North Carolina South Carolina Virginia

Amid Trade War, US Job Growth Misses Estimates

PYMNTS

The trade war, indirectly, seems to have had an impact on hiring. The latest data from the Labor Department show that in the United States, payrolls increased by 130,000, missing expectations for an August increase of 150,000.

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Stripe launches instant loan service

The Paypers

(The Paypers) Starting first in the US, Stripe has launched Stripe Capital, a loan service for its customers

Xero Integrates BP Fuel Card eInvoices

PYMNTS

Small business cloud accounting company Xero has announced BP as its latest – and largest – partner to join Xero Connect. Scoop reported on Thursday (Sept.

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Alibaba acquires Kaola for USD 2 bln

The Paypers

(The Paypers) Alibaba has announced it will acquire Kaola , a cross-border ecommerce business unit, from the Chinese internet company NetEase for around USD 2 billion

Groupon Offers Discounted Medical Scans

PYMNTS

Groupon is selling body scans and ultrasounds in a move that highlights the state of modern healthcare, according to a report by NPR.

Student borrower protection bill stalls in California

BankThink

A legislative measure would have made the Golden State the first in the nation where aggrieved borrowers could sue their servicers. The bill was delayed until 2020 after banks and other financial companies expressed opposition.

FIs Grapple With Technology — And A New Consumer Engagement Model

PYMNTS

For financial institutions (FIs), payments are top of mind. As noted in the most recent edition of the Innovation Readiness Playbook, the majority of FIs — at 57 percent — say that payments technology remains on their innovation and roadmaps for the next three years.

CFPB to hold symposium on behavioral economics

BankThink

The event is the bureau's second in a series on consumer protection policy. The first dealt with the agency's authority to penalize firms for unfair, deceptive or abusive acts and practices. Behavioral economics Policymaking Kathy Kraninger CFPB

Prudential Financial Acquires Assurance For $3.5B

PYMNTS

Prudential Financial has acquired three-year-old Assurance for a total consideration of $3.5 billion, according to a release by FT Partners, who served as a strategic advisor on the deal. The terms of the acquisition include upfront compensation of $2.35 billion and an additional earnout of $1.15

What Citi sees in Even Financial

BankThink

The bank helped raise $25 million for the fintech because of its potential to bring banks and nonbanks together in a virtual marketplace. APIs Marketplace lending Fintech Disruptors Venture funding Venture capital

Top News In Payments: Stripe Rolls Out Stripe Capital; Cards Generate $6.13T In Spending

PYMNTS

Today in the payments news roundup, Stripe launched Stripe Capital to simplify the way internet companies can access funds. Also, commercial and consumer cards issued in the U.S. generated $6.13 trillion in spending on goods and services last year.

RBB entering Chicago with PGB acquisition

BankThink

Both banks focus on the Chinese-American community. Community banking M&A Growth strategies California Illinois

Tile Integrates Google Assistant To Help Users Find Lost Items

PYMNTS

Cloud-based finding platform Tile has announced it is teaming up with Google for Google Assistant voice integration, according to a report. This is big news for Tile customers,” said Tile CEO CJ Prober. “If

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