Sat.Jan 26, 2019 - Fri.Feb 01, 2019

Stripe Raises $100M, Boosting Valuation To $22.5B

PYMNTS

Stripe, the San Francisco digital payments startup, has landed a $100 million investment from Tiger Global Management, boosting its valuation above $20 billion.

The CEO and Chair make digital banking work

Chris Skinner

I claim that most of the banks embracing true digital transformation and not just treating digital as a channel, are led by people who understand technology. They have a leadership team who are passionate about digitalisation, and see it as a core raison d’etre of the bank’s future.

The growth of mobile POS and preventing fraud

Mobile Payments Today

Mobile point-of-sale systems are a growing consideration for retailers, but carry a number of concerns about fraud and secure payment

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Serving payments customers in the age of instant gratification

Insights on Business

Like millions of others, I enjoy having a cup of coffee at various retail coffee establishments. Over the years, these coffee shops, especially the large chain variety, have evolved with upgraded choices to increase customer satisfaction and happiness.

Home Improvement Startup Houzz Suffers Data Breach

PYMNTS

Home improvement startup Houzz revealed that it suffered a data breach. The company said in a FAQ on its website that the breach was discovered in late December 2018, and that “a file containing some of our user data was obtained by an unauthorized third party.”.

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How to get rid of the legacy

Chris Skinner

I often talk about changing core systems, and most people tell me I’m mad. It doesn’t have to happen. You can have an overlay of middleware to deal with it. You don’t need to change those old systems. It’s too risky and too costly. Blah, blah, blah, blah, blah.

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Consumers Get Comfortable Applying for Loans on Mobile Apps, Report Finds

Bank Innovation

As consumer trust in financial apps continues to rise more customers are comfortable using mobile banking apps for complex transactions such as loan and mortgage applications: one report finds.

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More Trending

Why Banks’ Immune Systems Need Both AI And Human Boosts

PYMNTS

As fraudsters become more brazen in their efforts, banks are realizing they need to do more than simply respond to suspicious activities as they find them. Instead, a deeper understanding of fraud — down to its genetic outline — is needed to be truly effective in fighting it.

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Banks need to be technology giants

Chris Skinner

I got into one very interesting discussion with a digital banker. He was underscoring how important data is in banking, and referenced the fact that banking started with data.

Avoka Rolls Out Module to Link Back Office to Customer Onboarding Journey

Bank Innovation

Avoka, a software firm specializing in customer acquisition and onboarding, seeks to bridge a gap at retail banks and credit unions between the back office and the customer journey with the launch of its new module, Workspaces.

Hot banking sessions at IBM Think 2019

Insights on Business

With such a great lineup of education and activities for financial services leaders at IBM Think from February 12-15 in San Francisco this year, planning your agenda will be tough.

Nearly 100 Chinese Tech Startups Hit Unicorn Status In 2018

PYMNTS

China’s startup market had a good year in 2018, with close to 100 technology companies garnering a valuation of more than $1 billion.

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Financial literacy is the scourge of our times

Chris Skinner

One of the issues I have with financial services is that it’s frightening. You might not think so, but I grew up in a world of cushioned money. I didn’t know much about money at all. The most I knew about money is begging for more pocket money.

What to Do When Your Banking App Stumbles Out of the Gate

Bank Innovation

BMO Harris Bank did itself a favor by being responsive to questions and criticism on social media from customers locked out of their digital accounts with the bank this past week, according to Adrenaline, an experience design company.

Making financial services more secure at IBM Think 2019

Insights on Business

Security. What does it mean to you? Feeling safe. Protected from threats. Guarded from attacks. Privacy. To those working in the financial services industry, security is at the core of their business. The rise of artificial intelligence and machine learning might help protect business assets, but it is also making it easier for the bad guys to find holes in the security. Modernizing infrastructure and applications opens additional risks.

Eye Scanning Tech Using Blockchain To ID Patients Is Ready For Trials

PYMNTS

A healthcare firm and a biometric company have teamed up to test iris-recognition software for applications involving patient identification in the healthcare field, according to a release.

An important announcement about the Financial Services Club

Chris Skinner

During the second half of 2018, we were trying to work out the future of the Financial Services Club in light of one of our founders, Andy Coppell’s retirement.

Finance Players Bringing Their A-Game to Super Bowl (of Advertising)

Bank Innovation

The Super Bowl, the only time in the year that people tell you to be quiet because a commercial is on, is upon us.

Rebeca Romero Rainey: Our efforts are paying off

Independent Banker

. “I know many of these successes took years, but our efforts are paying off.”. It never ceases to amaze me how powerful we are when we work together, community bankers. Since sharing our advocacy successes with you in December, I’ve been thrilled to see more hard-fought victories come our way.

RBS Slapped With Lawsuit Over Frozen Accounts

PYMNTS

The Royal Bank of Scotland (RBS) is being sued by an unnamed British payments company over allegations that RBS froze accounts on suspicion of illegal activity by the company’s clients, according to a report in the Financial Times.

Things worth reading: 31st January 2019

Chris Skinner

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Is Apple Pay Trying To Do Away with the Point of Sale?

Bank Innovation

Apple envisions an Apple Pay beyond its current role at the point of sale and P2P.

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The United States Of Venture Capital: The Most Active VC In Each State

CB Insights

Although startups based in California, New York, and Massachusetts have traditionally accounted for the majority of VC tech investment in the US, VCs are spurring other hotbeds of innovation across the country.

Mastercard To Apply For China Payments License

PYMNTS

Mastercard , the payments company, said late last week that it is still committed to operating in China. In a press release , Mastercard said that it is making every effort to secure the license to access the domestic Chinese market and confirmed it is in active talks with different solutions.

The Finanser’s Week: 20th January – 27th January 2019

Chris Skinner

The main blog headlines are … Digital banks have fast and regular communication A further aspect of the digital banks I am talking with is that they have reviews all the time.

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Facebook’s Payments Revenue Soars 42%

Bank Innovation

Payments revenue at Facebook is up — way up. The company’s "payments and other fees" category banked a record $274 million in the fourth quarter of 2018, compared with $193 million in the same quarter of 2017, marking a nearly 42% increase.

BITSTOP introduces bitcoin ATM

Mobile Payments Today

Andrew Barnard, Co-founder of BITSTOP demos the bitcoin ATM

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Banks As The Keeper Of Consumer Digital IDs?

PYMNTS

You can’t have trust without some type of trusted authority, and any type of authority is fragile without a reasonable level of trust.

Things worth reading: 28th January 2019

Chris Skinner

Things we’re reading today include … Mother’s lifesaving surgery stopped at last minute because her bank blocked payment for operation Bank’s Refusal to Release $1.2B

Catch the Early Bird Rate for Bank Innovation Ignite Before It Flies Away!

Bank Innovation

Interested in joining us for Bank Innovation Ignite 2019 on March 11-12 at the Hyatt Olive 8, Seattle? You’d better hurry! Early registration ends this Friday, February 1 at 11:59 PM. Register here to secure the lowest possible rate!

The Massive Opportunity For Insurance Tech In Indonesia

CB Insights

Today, Indonesia features one of the most compelling macro backdrops for investment globally with a young, optimistic, and upwardly mobile population of 264M.

Venmo And Zelle’s P2P Battle Royale

PYMNTS

The fourth quarter of 2018 was kind to Venmo and Zelle , the two big peer-to-peer (P2P) services that are battling for consumer loyalty and market supremacy — a fight that pits PayPal , the owner of Venmo, against the banks that operate Zelle.

Things worth reading: 30th January 2019

Chris Skinner

Things we’re reading today include … E.C.B. Takes Reins of Italian Bank to Prevent Wider Crisis Ripple Has Signed Up A Bank To Use XRP For Payments. So What?

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Ally Financial Has Milennials to Thank for Its Impressive Retail Deposit Growth

Bank Innovation

Ally Financial Inc.’s s robust marketing strategy for its retail bank has paid off, as the bank today reported that half of its new retail customers were millennials.

How Will Blockchain Transform the Education System?

Dataconomy

Smart classrooms aren’t too far off, and blockchain technology may become an integral part of schools all over the globe in a few years. But how will this system help administrators and students? Bitcoin is the most well-known virtual currency in the world, at one time reaching a value of.

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Mastercard Eyes SMBs As Drivers Of FinTech Competition

PYMNTS

Mastercard has released its latest report on the FinTech landscape, with analysts fixing their eyes on the small business (SMB) community to drive competition and innovation.

Things worth reading: 1st February 2019

Chris Skinner

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