Bank Innovation

APRIL 24, 2019

Secretary of the Treasury Steven Mnuchin said today that he prefers private over government solutions when it comes to collecting and using consumer data for financial products and services, speaking at a fintech conference hosted here by the FDIC.

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Data FDIC Washington Conference 170

PYMNTS

APRIL 24, 2020

bank technology firm securing $100 million to expand in the region. India’s KarbonCard , a FinTech that offers startups in India and Southeast Asia with corporate card solutions, secured $1 million in new funding from Orios Venture Partners, Whiteboard Capital, and others, according to YourStory reports. KarbonCard. AvidXchange.

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Fintech Capital Security FDIC 193

Bank Innovation

JULY 31, 2018

The fintech charter does not require deposit insurance from the FDIC, per a recommendation from the Treasury Department. It’s good news for fintechs in lending and payments that want a federal banking license, the Office of Comptroller of the Currency (OCC) has started accepting applications starting today.

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Fintech FDIC Lending Payments 218

PYMNTS

JANUARY 7, 2021

GO2bank is built to be the go-to destination for seamless, affordable, useful banking — combining the security, stability and experience of an FDIC-insured bank with the innovation and agility of a leading FinTech,” Green Dot Corp. CEO Dan Henry said in a press release.

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California FDIC Regional Taxes 142

Independent Banker

JULY 31, 2022

In partnership with Nymbus, the bank’s custom digital platform is built on a secure cloud-native core banking system with an open API architecture. While many banks are utilizing technology and trying to be innovative, they are doing so on an existing legacy structure that is too expensive, painful and ingrained in their culture to change.”.

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Florida Community Bank Community FDIC 91

Bank Innovation

FEBRUARY 18, 2019

Aura, a San Francisco-based fintech offering affordable loans to low to moderate-income households, wants to partner with banks to offer those loans to consumers who have traditionally been unable to secure them from larger institutions.

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San Francisco Fintech Innovation Security 186

Abrigo

JANUARY 4, 2023

"The events of the past year have been marked by significant volatility and the exposure of vulnerabilities in the crypto-asset sector," read a joint statement from the Federal Reserve, FDIC, and the OCC. Consumers are accustomed to upgrades as part of innovative technology.

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social media Fraud cryptocurrency Trends 195

PYMNTS

MAY 27, 2020

The pandemic has accelerated the digital roadmap for everyone in financial services, giving rise to more innovation in the past few months than had been seen over the course of several years. HMBradley offers FDIC-insured accounts through Hatch Bank based in California, and rates of about 3 percent on its savings accounts.

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Fintech Innovation Digital Banking FDIC 236

Abrigo

MAY 5, 2022

Using Data to Acquire, Engage, and Retain Banking Customers,” and “Customer Identity: Balancing Security and Seamless Banking Experiences.” Weekly episodes highlight innovators and industry players driving innovation in the financial services industry. keep me informed.

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Community Lending Maine Resources 195

Jack Henry

AUGUST 24, 2023

By tapping into trusted resources and networks that share a commitment to innovation, Apple offers solutions and services that inspire confidence in customers. Making credit decisions without understanding the credit culture, values, and certainty of a trusted resource can make it tough to connect with partners.

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Apple Resources social media FDIC 78

PYMNTS

NOVEMBER 30, 2018

According to The Next Web , Jared Rice defrauded investors out of $4 million after he claimed the company would become the “first decentralized banking platform” — offering FDIC -insured accounts and banking services, as well as Visa -branded credit cards and other cryptocurrency services.

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blockchain Bitcoin cryptocurrency FDIC 136

PYMNTS

APRIL 7, 2016

.” “As an industry, there’s not one specific issue we’re particularly worried about — the space is already heavily regulated, with borrower protections on one side and securities rules on the other,” said Sam Hodges, cofounder and U.S. managing director of Funding Circle, which is based in London.

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Lending San Francisco FDIC Regulation 100

PYMNTS

DECEMBER 18, 2018

The release comes amid increasing attention on issues involving ID , authentication and “ know your customer ” tactics and strategies — and as observers anticipate even more focus in 2019 on issues related to online security and privacy and AML efforts.

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PYMNTS

JANUARY 26, 2021

Wider adoption will be driven, in part, by regulatory frameworks that enhance security and foster trust in using cryptos in everyday commerce. The company also offers an FDIC-insured checking account to help spur crypto-friendly banking, Johnson noted. They will be rolled out to merchants and more people will be able to accept them.”.

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cryptocurrency Bitcoin blockchain FDIC 256

PYMNTS

JULY 11, 2018

Citizens Access safely and securely offers Member FDIC-insured online savings and CD accounts with attractive rates and no fees to customers across the United States. Citizens Financial Group announced the launch of its nationwide, direct-to-consumer digital bank.

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Digital Banking United States FDIC ATM 103

PYMNTS

APRIL 2, 2019

Following approval by the Federal Deposit Insurance Corporation (FDIC) and Washington, D.C.’s “MOXY’s progressive and innovative approach to banking will provide greater digital convenient, advocacy and personalized financial services to its users,” bank President and CEO Casey G. .’s

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Community Bank Community FDIC Washington 117

PYMNTS

NOVEMBER 1, 2018

report: “The rise of digital innovators in financial services presents a significant threat to the traditional business models of retail banks.”. And that is a bank – one with FDIC insurance and safeguards that keep their money safe. People want to keep their money in a place that consumers trust,” Webster’s article stated.

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Fintech UX Mobile FDIC 191

Abrigo

AUGUST 6, 2021

Takeaway 2 Community banks are at a crossroads: innovate or be left behind (or acquired). according to FFIEC and FDIC data. 1 Today, community banks are at a critical crossroads: innovate or be left behind (or acquired). . Even though community banks make up a small share of total assets and deposits, 13.5% Digitalization.

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Community Bank Community Kansas City Lending 195

Independent Banker

MARCH 31, 2022

A secure, open-loop, cost-saving, customer-accessible, multiplatform P2P payments network might sound too good to be true, but community bank consortium Alloy Labs Alliance hopes to achieve just that with the CHUCK payment rail. Photo by Donis Perkins. Julieann Thurlow, CEO of $730 million-asset Reading Cooperative Bank in Reading, Mass.,

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Community Bank Community Payments Meeting 91

Jeff For Banks

JUNE 2, 2023

In the late 90s, low interest rates made speculative equity investments more attractive than bonds, and at the same time, innovative internet companies grew in popularity among retail investors, professional traders, venture capitalists, and the like (familiar?). What caused a dot-com bubble? We took a serious reputational hit. Good times.

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FDIC Community Bank Regulation Lending 78

BankInovation

MARCH 10, 2023

Silicon Valley Bank was taken over by regulators today following a week of abnormality that included a sale of securities on Wednesday, capital raising efforts on Thursday and a stock plummet of nearly 70% this morning.

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California Data Capital Regulation 52

PYMNTS

MAY 14, 2018

In a press release , Citizens Financial said the digital platform will offer FDIC-insured deposits products aimed at serving people who want to save and want the flexibility of an online banking service. Citizens Financial Group announced on Monday (May 14) plans to launch Citizens Access, a nationwide direct-to-consumer online bank.

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Online FDIC Lending Analytics 101

Ublocal

FEBRUARY 7, 2024

By consistently contributing to your investment portfolio and allowing it to grow over time, you can create a financial cushion that ensures comfort and security in your retirement. Riding the Wave of Innovation: Your Investment in the Future The stock market is a vibrant ecosystem of innovation and progress.

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PYMNTS

NOVEMBER 23, 2020

As for easing the path toward financial innovation, there’d always been some consideration of seeking a national banking charter, noted Cagney, especially as the company began building blockchain and blockchain applications over the past few years. Looking Toward The Blockchain . And herein lies the great irony in financial services.

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National blockchain Montana Lending 215

CFPB Monitor

DECEMBER 21, 2021

Last week, the California Department of Financial Protection and Innovation (DFPI) announced that it had entered into a consent order with Wheels Financial Group, LLC d/b/a LoanMart, a California-based company that markets and services automobile title loans.

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California Utah FDIC Regulation 78

PYMNTS

JANUARY 25, 2018

In the financial services world, most buzzworthy payment innovations are frequently aimed at rendering older, physical financial concepts moot. But not all financial innovations are focused on making such concepts obsolete. some financial institutions (FIs) see a need to innovate how their consumers access cash.

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ATM Millennials FDIC New Jersey 100

Javelin Strategy & Research

SEPTEMBER 2, 2014

I can’t get enough of innovation and digital strategy. My 30 year career started in merchant e-commerce technology, with numerous product management/leadership/launch roles before moving over to product-innovation research some fifteen years ago. I’ll provide one more example of the elusive win-win innovation.

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Innovation DC FDIC Strategy 58

CFPB Monitor

OCTOBER 22, 2020

” It also requires the Bureau to consult with the Fed, OCC, FDIC, and FTC to ensure, to the extent appropriate, that any rule implementing Section 1033 imposes substantively similar requirements on covered persons, takes into account conditions under which covered persons do business both in the U.S. Data security. Access scope.

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Data FDIC Digital Banking Compliance 78

Independent Banker

NOVEMBER 25, 2015

It’s a worrisome and complicated dynamic that’s putting competitive pressure on community banks, but it’s also creating opportunities through data analytics, partnerships and the ability to innovate to meet evolving customer demands. “We See “Closing the Gap” in the November 2015 issue, online at www.independentbanker.org.).

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Community Bank Community Analytics Lending 70

Bank Innovation

SEPTEMBER 18, 2017

SoFi’s hopes of becoming a bank have most likely been crushed after the departure of former CEO Mike Cagney, Securities and Exchange Commission former chairman Arthur Levitt told the Financial Times yesterday.

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Utah Online Security FDIC 170

PYMNTS

OCTOBER 26, 2018

. “We can now really ask how humans and machines can work together to deliver a superior experience for both the employee and the customer,” HSBC Bank USA Head of Innovation Jeremy Balkin noted in the public announcement of the pilot. EMV SRC Spec: EMVCo debuted the version 0.9 percent last year, 1.2 percent better than seen in 2015.

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Samsung Apple Study Report 134

Independent Banker

DECEMBER 13, 2015

Previewing an easier-to-use format of the FFIEC’s IT security assessment. Bad news: In its original form, it’s awkward to use—and may become part of those dreaded IT security exams. These agencies had input: the Federal Reserve, the Office of the Comptroller of the Currency, FDIC and the National Credit Union Administration.

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Tools Community Community Bank Security 70

Independent Banker

NOVEMBER 24, 2015

Previewing an easier-to-use format of the FFIEC’s IT security assessment. Bad news: In its original form, it’s awkward to use—and may become part of those dreaded IT security exams. These agencies had input: the Federal Reserve, the Office of the Comptroller of the Currency, FDIC and the National Credit Union Administration.

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Tools Community Community Bank Security 70

South State Correspondent

MARCH 15, 2023

Now, customers and analysts will pay more attention to Loans + Securities-to deposit ratio. Instead of just looking at LTD, investors, and depositors, will now look at loan plus securities to total deposits. To combat this speed, banks must get innovative to offer greater protection for uninsured deposits.

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social media FDIC Branding Management 195

PYMNTS

JULY 16, 2018

We have investigated the matter thoroughly, addressed the cause and, as a precaution, have implemented additional security measures,” Macy’s said in an emailed statement. Macy’s was able to confirm that social security numbers were not accessed — but that data like birthdays and addresses might have been.

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Cards Data Digital Banking Retail 100

Independent Banker

FEBRUARY 24, 2016

Along with an expanded lineup of general session presentations, more than 200 companies will be exhibiting at Expo to discuss the industry’s latest product and service innovations. Tech entrepreneur and New York Times bestselling author on business creativity, innovation and reinvention. ICBA Chairman, and President and CEO.

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Community Bank Community Innovation Customer Experience 70

Jeff For Banks

DECEMBER 26, 2012

and its subsidiary BofI Federal Bank aspire to be the most innovative branchless bank in the United States providing products and services superior to their competitors, branch-based or otherwise. Actually, since Bank of the Ozarks has significantly changed since it''s FDIC acquisition spree, one might include them in the list of "new" banks.

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Texas National FDIC Capital 79