PYMNTS

OCTOBER 18, 2017

Innovation is oxygen in payments. For financial services firms, innovation is spurring speed, killing friction and fostering loyalty among customers. That, itself, begs the question: What is innovation, really? explained there is wide variation in the definition of innovation.

Innovation 140

Innovation Compliance Community Bank Strategy 140

PYMNTS

MARCH 8, 2018

That’s the question Brian Dorchester, EVP of Operations at First American Payment Systems , explored in this week’s Commanders In Chief series. The industry, he noted, was fairly stagnant for about 15 years before the more recent wave of innovation swept over the space. Security comes first, said Dorchester.

Innovation 112

Innovation Security Industry Fraud 112

Insights on Business

FEBRUARY 13, 2019

They use the Bradesco infrastructure, but they operate in parallel. At IBM Think 2019, Henrique Albuquerque from Bradesco Research and Innovation offered insight into how Bradesco is transforming by focusing their entire business structure around the customer journey. Next was born to complement Bradesco’s strategy. Day-to-day tasks.

Albuquerque 152

Albuquerque Digital Banking Millennials social media 152

PYMNTS

APRIL 24, 2017

This week we saw scientists march, the French go to the polls and a $400 high-tech juicer turned out to be an innovation on par with something that everyone already has: their hands. We laughed out loud at this one when it came out a year ago and said it was just another example of Silicon Valley groupthink. IHG’s Big Hack.

Millennials 109

Millennials Cards New York Branding 109

PYMNTS

JUNE 9, 2017

In an interview with PYMNTs after a webinar by the pair titled, “Financial Services Innovation — The Risk of New vs. Nothing,” John Epperson, principal at Crowe Horwath LLP, and Jason Henrichs, managing director at FinTech Forge , discussed the challenges and rewards of embracing change, even as firms are mindful of what works.

Innovation 109

Innovation Compliance Technology Data 109

PYMNTS

SEPTEMBER 3, 2020

Some QSRs’ already-thin operating margins have been stretched beyond the breaking point as budget-conscious consumers shy away from eating out, forcing the eateries to declare bankruptcy. A 2019 report revealed that more than 100 million Americans face such restrictions, for example.

Management 130

Management System Millennials Study 130

Abrigo

OCTOBER 21, 2019

Does your financial institution support a culture of innovation and an environment that welcomes new technology? To further cultivate an innovative mindset at your institution, your bank or credit union may look to add new talent – younger talent, in particular.

Oklahoma 218

Oklahoma Millennials Innovation Technology 218

PYMNTS

JUNE 26, 2020

Introducing open banking principles has not been without friction, however, with banks and consumers concerned over how this sea change will affect FIs’ daily operations. What we are seeing [is] continual innovation in terms of services and offerings for corporates and for individuals that are being built utilizing open banking rails.”.

System 198

System Data Security Examples 198

PYMNTS

JANUARY 22, 2020

A recent example comes from the world of hair care, where consumers spend some $87.9 All of that helps prepare the ground for innovation. “In And much of that innovation and disruption comes down to better analytical prowess. One recent example comes from Los Angeles-based Pepper. P ersonalization and Instagram.

Los Angeles 131

Los Angeles Analytics Retail Survey 131

PYMNTS

FEBRUARY 4, 2020

A bit younger than their millennial siblings and cousins, they’ve grown up totally mobile, and have idiosyncrasies that make them unique. Perhaps more than millennial cohorts, Gen Z is having a hot love affair with eCommerce and sharing platforms that specialize in and cater to their digital lifestyles. “If

Millennials 130

Millennials Fraud Groups Payments 130

NCR

JULY 12, 2016

Millennial customers are quickly becoming key to the growth strategy of financial institutions, particularly in hyper-competitive markets where customer churn remains high. While millennials tend to judge a bank on the basis of its digital capabilities, they still also expect a human connection to advise them.

Millennials 40

Millennials Meeting Compliance Regional 40

PYMNTS

NOVEMBER 5, 2019

Luxury fashion resale platforms are gaining traction as they focus on sustainability and partnerships, with The RealReal ’s third-quarter earnings serving as the latest example of growth in the space. Wainwright noted that the first step in automating its inbound operations involved pricing. Retail Partnerships.

Millennials 101

Millennials Retail Exercises Branding 101

PYMNTS

JULY 13, 2020

The greatest health crisis in a generation is poised to accelerate innovation at the intersection of healthcare , technology and payments as never before. Truepill Co-founder and President Sid Viswanathan and CEO Umar Afridi told PYMNTS that their firm has differentiated from operators like Amazon’s PillPack by using a B2B focus.

Retail 219

Retail Innovation Online Seattle 219

Accenture

SEPTEMBER 22, 2019

An obvious reason is the inroads they’re making into the market, both domestically and globally: recent Accenture research finds that digital-only banks operating in the UK could amass a total of 35 million customers globally within the next 12 months, up from 13 million today. Customer growth.

Innovation 150

Innovation Metro Apple Marketing 150

PYMNTS

MAY 19, 2020

That trend was particularly pronounced among older “bridge millennials,” who on average owned six separate connected devices, not counting their phones. According to PYMNTS’ latest consumer data on the subject, 47 percent of millennials have shifted their routines online, while 45.1 percent of bridge millennials have done so.

Technology 205

Technology Millennials Retail Report 205

Bank Innovation

APRIL 17, 2017

And, according to the 2016 edition of PwC’s Employee Financial Wellness Survey , financial stress is on the rise, with Millennial’s typically in worse shape with regards to their personal finances than previous generations. How is this being addressed?

Fintech 268

Fintech Innovation Survey US 268

PYMNTS

MAY 17, 2016

One would expect that a event called the Retail Innovation Conference (RIC) would be a veritable brainstorm of big ideas as to how to improve the woeful retail space in the U.S.: But, in reality, retail is a logistics game, an operations game, a supply chain game, but it’s not a shopper game, really.”. Retail operations are important.

Retail 100

Retail Conference New York City Innovation 100

PYMNTS

JANUARY 29, 2019

That’s reflected in data (this is Data Drivers, after all) from the Credit Union Innovation Index , a joint effort between PSCU and PYMNTS. PYMNTS and PSCU found that 59 percent of credit union members said they want innovation, though it wouldn’t necessarily sway them to choose one CU over another. Avoiding Complacency. His Advice.

Innovation 176

Innovation Fintech Data Community 176

PYMNTS

FEBRUARY 19, 2020

For example, original equipment manufacturers (OEMs) spend an average of 57 days waiting. Trade shows, corporate board meetings and business fundraisers are important parts of companies’ operations, but are difficult to pull off. Sellers suffer, too, frequently undergoing long waits to receive compensation. About The Report.

Mobile 197

Mobile Online Payments Tools 197

PYMNTS

JANUARY 21, 2020

One of the biggest questions that promises to play out in the larger world of restaurants — whether quick-service operations or others — is who will ultimately own their customers, and whether those businesses can get them back once they are lost to third-party delivery services and aggregators. The risk is even wider than that.

Mobile 148

Mobile Trends United States Online 148

PYMNTS

AUGUST 13, 2020

consumers don’t exactly love the paper check — roughly 38 percent report that they’ve stopped using them entirely, and that shoots up to almost 50 percent when talking about millennials. As Evers pointed out, companies that do this can actually increase profits by up to 60 percent “just by simplifying the business operations.”.

Cards 202

Cards Strategy Digital Strategies Examples 202

Abrigo

JUNE 14, 2017

It also “promote[s] a higher standard of trust with customers,” and provides an efficient and affordable “approach to innovation,”especially now that these partnerships are becoming increasingly popular among banks, says René Lacerte in a recent Forbes article. For example, are your response times slow?

Fintech 170

Fintech Software Lending Millennials 170

PYMNTS

MAY 24, 2019

Google has recently upped its game in the food service area of retail, further proof that innovation is heating up when it comes to restaurants – and another signal of how the connected vehicle ecosystem is developing. Food Retail Innovation. For restaurants supporting the feature, the orders are completed via Google and Google Pay.

Google 115

Google Mobile Retail Innovation 115

PYMNTS

JANUARY 29, 2020

Louis, Missouri-based Together Credit Union , which operated under three separate names — American Eagle Credit Union, Anheuser Busch Employees’ Credit Union and Purina Credit Union — until late last year. It’s a very busy space,” said Together’s chief operating officer, Tom Kraus, in an interview with PYMNTS. “St.

St. Louis 130

St. Louis Missouri Survey Kansas 130

PYMNTS

JANUARY 15, 2019

30 kickoff in Atlanta will include access to experts from Visa and entrepreneurs operating both nationally and globally. For example, Simon said, the Jan. An inaugural Jan. Notably, at the Atlanta event, participants from Visa, Square and Yelp will participate in the workshops.

Atlanta 189

Atlanta New York social media Community 189

PYMNTS

NOVEMBER 21, 2017

They’re a result of the Competition and Markets Authority (CMA) inquiry, which found a serious lack of innovation in the nation’s banking sector — especially when it comes to small- and medium-sized business (SMB) services. He pointed to access to business loans as one example. As the U.K. There’s a lot of lag.

Fintech 115

Fintech Millennials Meeting Innovation 115

PYMNTS

JANUARY 18, 2019

Smart trash receptacles are already being used to alert sanitation crews where trash collection services are needed, allowing them to adjust their routes and operate in a cost-effective manner. As the millennial population grows, the implementation of smart city technology will accelerate. Paving Smart City Pathways With Digital IDs.

Millennials 198

Millennials Tools Wyoming Idaho 198

PYMNTS

MAY 25, 2017

The firm in March won gold at Innovation Project 2017 for “Best Comeback Story.”. Broadly speaking, said the CEO, “there has been a tremendous amount of technology innovation in restaurants and certainly that has been the case with things like online ordering, online reservations.”.

System 112

System Technology Innovation Tools 112

PYMNTS

JULY 6, 2018

Marketplaces such as Glamping Hub see that glamping is popular with two segments in particular: baby boomers and millennials. Another segment, millennials, are looking for unique destinations that can lend themselves to Instagram and other social media channels. The Great Outdoors. Either way, hosts can get very creative.

Millennials 100

Millennials social media Comparison Maine 100

PYMNTS

NOVEMBER 24, 2020

Fully loaded costs of processing checks could be as much as $10 or more per payment, and printing checks and reconciling payments can be time-consuming, taking attention away from other tasks within a company’s operations. He offered the example of a U.K.-based Demographics also can serve a role in breaking down that reticence.

Cards 181

Cards Fraud Payments Millennials 181

PYMNTS

JANUARY 10, 2018

When Mastercard launched the Start Path accelerator program in 2014, the goal – according to VP and senior business leader, Amy Neale – was to make it easier for emerging companies to enter “our world” through a combination of operational support, commercial access and some strategic funding.

Company 194

Company Meeting Millennials blockchain 194

PYMNTS

APRIL 4, 2019

And by all accounts, this digital migration is driven by consumer preference — according to the same study, 91 percent of mobile banking users prefer accessing their app over going to a physical branch, and 68 percent of mobile banking millennials believe their smartphones will eventually replace their physical wallet.

Mobile 169

Mobile Study Security social media 169

PYMNTS

DECEMBER 21, 2020

You can see it in how investors are putting money to work in both consumer-facing and B2B startups, and how startups and incumbents are forging new partnerships to move innovation faster to market. And since iPhone users skew more to the affluent, it also denied those innovators the opportunity to monetize their spend. 23-25, 2020.

Apple 227

Apple Study Innovation Survey 227

PYMNTS

NOVEMBER 7, 2019

7), the transit-as-a-service operator is offering car and truck owners looking to offload their vehicles a deal: Sell those vehicles via online retail service Carvana and get in return $250 worth of Lyft credits, plus three months of free membership in Lyft’s new Lyft Pink membership subscription program.

Los Angeles 101

Los Angeles San Francisco Software Millennials 101

PYMNTS

JUNE 5, 2018

Instead SSENSE has leaked out a name and reputation for itself by offering innovative — and often unusual — looks to its shoppers that blend high-end designer labels with what is coming in streetwear. Musicians, artists and chefs are among those who have been profiled on the site — and who fashion sense has been offered up to buyers.

Branding 116

Branding Millennials Retail Online 116

PYMNTS

MARCH 3, 2020

Even millennials , who heavily lean on remote banking, still visit physical bank locations for more complex functions, such as loan applications. Digital-first transformations can improve personalization and operating efficiencies, but they also bring challenges, including adoption-related costs and new avenues for fraud.

ATM 151

ATM Fraud Study Regional 151

PYMNTS

SEPTEMBER 6, 2016

Payments had been relatively static with innovation around cash, checks and credit cards. Then, there was sudden exponential growth in innovation. It’s not exactly a newsflash, Jenkins said, that the rate of innovation in payments over the last four years has been fast-paced, transformative and disruptive.

Security 100

Security CA Payments Big Data 100