Passport, the technology business for city transit systems, raises $43 million


Passport, company that’s managing much of the technical aspects of how people pay to use public transportation resources in cities like London, Miami and Los Angeles, has just raised $43 million.

Blockchain VC Fund Gets First Investors For New Ethereum-based ICO

Bank Innovation

The world’s first venture capital fund raised with digital coin offering has gained its first round of investors, including executives from Bloq and Civic.

Transforming customer engagement with cognitive virtual agents

Insights on Business

The average consumer interacts with customer service 65 times in a year. That adds up to more than 270 billion service calls made on an annual basis. Multiply that by an average cost of about $1.00 a call, and you’ve got very big problem for global businesses.

Why bank branches—and human contact—are not going away any time soon


For years, we’ve heard people proclaiming the demise of the bricks-and-mortar bank branch, supposedly swept away by customers’ mass-migration to online and—increasingly—mobile alternatives.

FinTech and the world of investment banking

Chris Skinner

Some people talk about FinTech disruption and how payments and banking is being attacked and unbundled by start-ups, but we often look at banking too simplistically.

Internet of Things: Why Banking and Payments Professionals Should Care

Celent Banking

There is little doubt that Internet of Things (IoT) is transforming many industries, from manufacturing to insurance. Celent's Insurance practice has been at the forefront of IoT research since 2014 and has published many insightful reports.

Setting goals for exiting your business: Why it’s important


By John Brown, Founder of Business Enterprise Institute, Inc. Setting goals is critically important when you approach the inevitable exit from your business. Without goals, even the strongest systems fail, as they have no purpose to work toward.

More Trending

2017: The Year Of Digital Disruption For Payments


A lot can happen in a year. What makes one stand out from another? How shall 2017 go down in the history books? Search Google for “2017: the year of…” and it becomes clear that many have seen this as a year of “death” and “disaster.”

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2017 Innovators to Watch: 44 Executives Shaping the Future of Banking

Bank Innovation

2017 was a tumultuous year, but despite some stops and starts, innovation in finance is only gaining more momentum.

NEW REPORT: As Business Priorities Shift, APIs Go White-Hot


Are the stars aligning for companies to make API investment a top priority? The April B2B API Tracker™ looks at how companies engaged in cross-border trade are turning to API solutions to reduce the friction that some players encounter when engaged in cross-border trade.

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Are Open APIs the Gateway to New Cores?

Bank Innovation

Open APIs have been advancing steadily across the banking landscape for a number of years, though just how “open” may be a point of conjecture.

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Sofi, Quovo Show Off New Wealth Management API

Bank Innovation

A quick, seamless API for wealth management customer authentication and data aggregation may not fix all of SoFi’s problems, but it certainly helps.

Blazing a path for blockchain in banking

Insights on Business

According to a report from Santander, blockchain technology is poised to save banks $20 billion dollars a year in infrastructure costs by 2022.

Bank boards: embrace the beauty of open, API-enabled digital payments


There’s a story about a man who took great pride in his perfect lawn. He was traumatized one morning when he awoke to find it ruined by a large crop of dandelions. He tried every method he knew to get. Read more. Everyday Bank Featured digital payments APIs PSD2 open banking

The crazy world of crypto currencies and ICOs

Chris Skinner

I’m boarding a flight yesterday and murfing (mobile surfing). Flicking between Facebook apps, twitter, bank account, BBC news and more. Suddenly I spot a new ICO – Initial Coin Offering – for a new bank.

Banks Need to Increase Focus on APIs if They Want to Match Fintechs, Verizon Says

Bank Innovation

EXCLUSIVE— It’s no secret that banks don’t move all that fast when it comes to new innovations, but most are starting to match fintechs at the customer experience level, according to Verizon, which provides software and internet connectivity to much of the industry.

Top 5 AI-Powered Activites Leading Digital Transformation

Bank Innovation

A majority of enterprises in financial services are undergoing a full-cycle digital transformation, with AI-led projects in the spotlight. That’s according to a study by Infosys released this week.

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Open banking APIs are open for business

Insights on Business

See how open banking APIs are transforming financial services (and businesses, too!). What is “open banking”? I wasn’t particularly inspired by the Wikipedia definition , so I’ll give you mine.

Would You Like to Set Google As Your Default Financial Institution?

Bank Innovation

Consumers can now use their Google credentials to make online and mobile payments via a stored credit card. The tech giant unveiled the tool yesterday, during its annual I/O developer conference in Mountain View, Calif.

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How banks can attain new competitive differentiators and customer value in payments processes

Insights on Business

Today, the pace of change in the payments industry seems to accelerate exponentially, as customers increasingly demand instant, contextualised, and in some instances “zero-touch” payments (think “Uber”).

Hollywood’s Newest Special Effect, Digital Banking?


From phone support and mobile apps to ATMs and chatbots — when it comes to customer service, banking automation has come a long way. However, the one missing piece that these automated banking features lack is a real human being to interact with during a transaction.

Consumers Expect Innovation to Come From Banks, Not Fintechs, Not Even Facebook

Bank Innovation

Despite all the shiny fintechs out there, consumers still expect innovation in financial services to come directly from banks.

Next Wave of Fintech: Partnerships with Corporations, Not Just Banks

Bank Innovation

Acquisition costs are (arguably) the main challenge fintech companies face when trying to scale their business. Selling products directly to consumers is costly and antiquated, especially for early-stage startups.

NEW REPORT: How X-Border Receivables Save Rhinos


By some accounts, the value of cross-border B2B payments could reach $3.68 trillion by 2025. With so much potential revenue at stake, there’s little wonder why merchants around the globe want to take their operations to the international stage.

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The evolving world of eCommerce payments


Since the first eCommerce transaction in 1994, eCommerce has grown rapidly, impacting the way we shop today and leading to the formation of a whole new industry of eCommerce businesses and support services. Global eCommerce reached $1.9 trn in 2016, and is poised to grow at ~19% CAGR up to 2020¹.

12 reasons why banks don’t innovate

Chris Skinner

I just got back from the ICEEfest in Bucharest, Romania. It’s a fantastic expo organised by Dragos Stanca and his team, and was very enjoyable even with the master of ceremonies, Jeff Leach, taking the mickey out of me.

FinTech Startup Helps Millennials Plan For (And Afford) Their Future Family


Kids these days. Millennials are using FinTech to pay back their college loans, cover healthcare expenses, and now, through FinTech startup Future Family , to get pregnant. More and more women are waiting until their 30s to have children.

Millennials Are Ready for the Bank of Amazon

Bank Innovation

Amazon wins, once again, at a game it didn’t even know it was playing. According to a Jan. 11 survey from Accenture, millennial participants would consider parking their money with nontraditional institutions, and they picked winners.

6 Hottest Trends for Banking 2017

Bank Innovation

Change is imminent in banking, and as we begin the new year the only debate seems to be what is going to be driving that change. Over the course of 2017, what is going to transform banking the most? Well, we have some ideas. IOT Voice Commerce/Voice Payments Smart Read More.

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6 Hottest Startups From Empire Fintech

Bank Innovation

What’s hot in fintech? Regtech, insurtech, real estate, robos — all of those (and more) have enjoyed the fintech spotlight recently, with impressive startups on the leaderboard.

The growing interest in digital banks

Insights on Business

Not so many years ago, “Bankers’ Hours” was a pejorative term meaning any job with a short work day. Today, bankers’ hours are much more customer oriented. With few exceptions, “banking hours” are becoming 24/7/365, or whenever and wherever a customer wants to do banking.

7 Startups to Watch: Payments, Savings, Blockchain, and More

Bank Innovation

Knowing which startups to keep an eye on in fintech can be a full time job (for some, it is actually a full-time job), especially as more and more of them launch, get funding, and partner up with banks.

BNP Paribas Announced VR-Based Banking App

Bank Innovation

Banking consumers in Paris will soon be able to get a taste of “future banking” with a virtual reality-based app for retail banking, French bank BNP Paribas announced today.

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Amazon Uses Its Machine Learning Tools for Lending

Bank Innovation

When talking about machine learning algorithms, Amazon definitely comes to mind. The e-commerce giant has (arguably) the most sophisticated ML toolset around that is uses for drone deliveries, online tailors, or its AWS offering.

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Why 2017 Will Be the Year of Artificial Intelligence in Banking

Bank Innovation

Artificial intelligence is coming to banking — scratch that, it’s already here, but customers may not have noticed. AI is already playing a role in consumers’ lives, whether they know it or not.

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This way to predictive mortgages: Three digital tools banks can use in the battle to acquire customers


Steve Jobs once said, “Your customers dream of a happier and better life. Don’t move products. Instead, enrich lives.” Considering the degree to which Apple’s products are ingrained in people’s day-to-day lives, they’ve stuck well to Jobs’ guidance.

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The Top 1000 banks in the world

Chris Skinner

I’ve written a column for The Banker magazine for the last 15 years and, during that time, have collected their special July edition each year. Every July The Banker publishes their analysis of the Top 1000 banks in the world.

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