Inside The Royal Bank of Scotland’s Innovation Strategy

Bank Innovation

EXCLUSIVE – Traditional banks cannot afford to ignore fintechs. The impact of fintechs on how people bank has not gone unnoticed by The Royal Bank of Scotland, who over the past 18 months under […].

For startups to bridge banks’ fintech gap, innovation execution needs a reality check

Bank Innovation

This is the second article in a two-part series on bank-fintech collaborations based on the 2019 State of Banking Innovation Survey, a study conducted by Bank Innovation and INV Fintech.

Banks push for more fintech startup collaborations, despite failures

Bank Innovation

When it comes to bank-fintech collaborations, banks are finding more failure than success. That’s according to a study by Bank Innovation and INV Fintech, a startup accelerator, released today. Carousel Innovation Strategy INV Fintech Startups

Fintech Unfiltered: Inside HSBC Bank USA’s Lofty Innovation Strategy for 2018 [Podcast]

Bank Innovation

As a part of its retail transformation strategy, HSBC Bank USA spent over $130 million on innovation projects in one year on its U.S. Artificial Intelligence Daily Post 1 Exclusive Features Fintech Unfiltered Mobile Online Open Fintech Operations Payments PFM Premium Retail digital banking HSBC HSBC Bank USA Marstone Samsung Softbankoperations.

For startups to bridge banks’ fintech gap, innovation execution needs a reality check

Bank Innovation

This is the second article in a two-part series on bank-fintech collaborations based on the 2019 State of Banking Innovation Survey, a study conducted by Bank Innovation and INV Fintech.

Why Automation is Key to Chesapeake Bank’s Innovation Strategy for 2019

Bank Innovation

Automation is the theme that best describes Chesapeake Bank’s innovation roadmap for 2019, Kevin Wood, managing director of the state-chartered community bank’s business lending division, Cash Flow, told Bank Innovation. “One Commerce Corporate Exclusive Innovations Lending Online Open Fintech Premium Risk Automation Chesapeake Bank Community Bank Jack Henry ProfitStars

Bank-fintech partnerships are a necessity, not a fad

Bank Innovation

A recent Forbes article claims the fad is over for bank-fintech partnerships. The fad might be over, but the imperative for banks to partner with fintechs is anything but. Nevertheless, in our experience at INV Fintech, […].

The banking revolution: Adapt or be left behind

Bank Innovation

Technology and the rise of fintechs have called into question almost every traditional banking model, requiring banks to either adapt or be left behind. In today’s digital age, some banks have been slow to innovate or to create a more […].

Luge Capital’s Gillani: Canada is becoming a test market for fintech founders

Bank Innovation

Luge Capital, a fintech venture capital firm based in Toronto and Montreal, serves a growing ecosystem of startups north of the border. This week, it closed a C$85 milion ($65 million) fund for fintech and AI solutions.

Commerzbank’s Digital Innovation Strategy in Germany’s Cash-Heavy Economy

Bank Innovation

In some markets, banks and fintechs are a long way from overcoming the dependence on cash. billion ($513 billion) in assets, and boasting a 50-person innovation lab, implementing fintech for a fiat-focused market has its challenges. Capital Corporate Daily Post 3 Exclusive Innovations Operations PFM Premium Risk Trading cash Commerzbank European Central Bank innovation labThis challenge is felt at Germany’s Commerzbank.

The innovation strategy banks should avoid

BankThink

Banks are more established organizations that cannot afford to take the same shortcuts and risks as startups do in fintech development, executives said. Bank technology Fintech Disruptors Artificial intelligence Lending Cathy Bessant Bank of America Goldman Sachs

Too many innovation strategies place speed over discipline

Payments Source

ISO and agent Payments Banking Fintech RetailersIn the era of digital transformation, it can be easy to mistake activity for achievement. A disciplined approach is needed, writes Tim VanTassel, a vice president at FICO.

European fintechs escape troubles afflicting established banks

Bank Innovation

European fintech companies raised $3.3 Bloomberg Carousel Daily Post 2 Innovation Strategy Lending Payments Retail Banking Adyen iZettle Klarna N26 TransferWise

IBM makes progress validating fintechs for its banking clients, CTO says

Bank Innovation

Tom Eck, Global Chief Technology Officer of Industry Platforms at IBM, told Bank Innovation that the number of startups in Catalogue is a result of significant effort on the part of the technology […].

New Competitors Forcing Banks to Reevaluate Innovation Strategies

The Financial Brand

Banking providers are investing in innovation, changing business models and partnering with fintech firms to respond to digital consumer expectations. Innovation Strategies analytics big data digital banking fintech

Weekly Wrap: Luge Capital courts early-stage fintechs, as payment providers rustle with UX and data privacy

Bank Innovation

In this episode, Suman Bhattacharyya, deputy editor, and Angely Mercado, associate editor, discuss the following news developments: Canadian venture firm Luge Capital’s approach to fintech investments; How banks are navigating Zelle’s UX as transaction volume grows; and […].

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Chase commits $25m to inclusion-focused startups

Bank Innovation

The contribution will go towards the nonprofit Financial Health Network’s Financial Solutions Lab, a development program that supports fintech startups that help consumers save money, reduce debt and meet long-term financial goals.

Inside OTP Labs, Eastern Europe’s most adventurous bank innovation experiment

Bank Innovation

The Budapest-based bank is pursuing not just startup-driven innovation, but through a mix of internal and […]. Carousel Customer Experience Innovation Strategy INV Fintech Startups banking startups Fiserv OTP BankIt might have $55 billion in assets and 10.5

OTP Bank expands startup program, adds implementation period

Bank Innovation

The startup program, which launched in 2017 through the bank’s in-house innovation group OTP Lab, is currently accepting applications for its […]. Carousel Innovation Strategy INV Fintech Product Design Startups innovation lab OTP Bank OTP Lab

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It’s time for banks to take cues from big tech

Bank Innovation

Last week’s Money 20/20 in Las Vegas showcased numerous innovations in financial services, ranging from the launch of Uber Money to Facebook’s continued push for Libra, and the growth of Amazon Pay.

Digital financial services to generate $38b in southeast Asia, study finds

Bank Innovation

Bloomberg Carousel Innovation Strategy Payments Retail Banking Alibaba Group fintech startups Grab Uber

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Marqeta adds CMO and new tools to help clients expand

Bank Innovation

While large consumer-facing fintech companies like Square, Klarna, Affirm and others tout speed and efficiency of their user experiences, card issuing and processing startup Marqeta‘s technology supports their payment capabilities, with its APIs allowing […].

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Paytm nears $2 billion from backers including SoftBank, Ant

Bank Innovation

Indian fintech giant Paytm is close to scoring $2 billion of new financing from investors including Jack Ma’s Ant Financial and Japan’s SoftBank Group Corp. Bloomberg Capital & Funding Carousel Innovation Strategy ant financial payments Paytm Softbank

Groups 169

Open Bank Project’s Chaib: Open APIs will benefit banks and startups

Bank Innovation

Good news for fintech startups: In the future, every bank will have an API. Carousel Daily Post 3 Daily Post 4 Innovation Strategy INV Fintech Open Banking Profiles Startups ABN AMRO APIs BNP Paribas Citizens Bank HSBC NACHA Open Bank Project open banking

BBVA USA eyes growth by helping startup competitors

Bank Innovation

To BBVA USA, the future is about enabling fintech startups rather than competing with them. Carousel Innovation Strategy Open Banking Startups Azlo BaaS BBVA BBVA USA Catch Digit WiseIt’s been almost a year since the U.S.

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Movencorp patents its personal finance technology

Bank Innovation

The road to differentiation among fintech startups entered a new phase this week: patenting technology to put a brand’s stamp on it forever. Carousel Innovation Strategy Product Design Startups Brett King financial apps financial literacy Moven patent

Santander InnoVentures leads $39m investment in debt marketplace CrossLend

Bank Innovation

Santander InnoVentures, Santander Group’s fintech venture fund, is leading a Series B investment of 35 million euros ($39 million) in CrossLend, a pan-European digital debt marketplace.

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TD Bank’s Fowler to speak at Bank Innovation Build

Bank Innovation

Fowler will talk about his work on a panel discussing bank-fintech collaborations at Bank Innovation Build, which runs from November 6-7. Bank Innovation Build Carousel Innovation Strategy Retail Banking Layer 6 td bank

Looking to beat Apple to the punch, digital competitors roll out cashback cards

Bank Innovation

While the jury is still out whether the Apple Card will be the disruptive force that Apple has claimed it will be, fintech firms and banks alike appear eager to beat the tech giant to the punch.

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Inside Marqeta, the payments engine behind the challenger banks

Bank Innovation

Card issuing and processing startup Marqeta may not have picked the sexiest part of the payments ecosystem to disrupt, but it’s looking to catch the same wave as challenger banks and fintech lenders that are raking in funds by the hundreds of millions as they expand into new geographies.

4 Myths Preventing More Fintech+Banking Partnerships

The Financial Brand

These common misconceptions keep many traditional banking providers from forging more alliances with innovative fintechs. The post 4 Myths Preventing More Fintech+Banking Partnerships appeared first on The Financial Brand. Innovation Strategies

Fintechs May Face Bank-like Challenges as They Evolve Beyond Roots

The Financial Brand

The post Fintechs May Face Bank-like Challenges as They Evolve Beyond Roots appeared first on The Financial Brand. Innovation StrategiesAs former newcomers become larger, more established financial players they may start resembling traditional banking institutions.

Troubled Fintech Charter: How More Delays Impact Competitive Situation

The Financial Brand

Federal ruling striking down fintech banking charter pleases traditional players and state regulators, but they've won a pause, not a war. The post Troubled Fintech Charter: How More Delays Impact Competitive Situation appeared first on The Financial Brand. Innovation Strategies

New Fintech Bank Reinvents Itself With Bold Brand Position

The Financial Brand

The post New Fintech Bank Reinvents Itself With Bold Brand Position appeared first on The Financial Brand. Innovation Strategies AspirationAspiration Financial builds its brand on an unusual eco-friendly promise and lets consumers set their own fees (even $0, if they choose).

How a Small Iowa Institution Became The Bank Powering Big Fintech Apps

The Financial Brand

A 117-year-old community bank serves as the back-end for fintechs like Square Cash and Acorns, fueling growth while keeping its roots intact. The post How a Small Iowa Institution Became The Bank Powering Big Fintech Apps appeared first on The Financial Brand.

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The Uncertain Future of Fintech

The Financial Brand

The relationship between traditional banking organizations and fintech providers changes as consumer demand for digital solutions evolve. Digital Banking Strategies Featured Articles Innovation Strategies Technology Strategies Capgemini Efma fintech LinkedIn

APIs Blurring Distinction Between Banking and Fintech

The Financial Brand

Open APIs provide banks and credit unions the opportunity to introduce fintech solutions using legacy systems faster than in the past. Innovation Strategies Product Marketing API BBVA Compass Bitcoin Citi Coinbase Dwolla fintech USAA

Fifth Third’s Fintech Efforts Seen Generating $100 Million of Annual Revenue

Bank Innovation

PREMIUM - The digital and innovation strategy behind Fifth Third, one the largest regional banks in the country, is simple: build, buy, partner. That strategy has worked well for the bank.The company told Bank Innovation that it has invested $100 million in fintech over the past 22 months and that it expects to make about […]. Innovations Mobile Online PFM Premium Startups Uncategorized Exclusive Fifth Third Bank Innovation team partnerships

Report Analyzes Strategies, Positioning and Potential of Fintech Start-Ups

The Financial Brand

The Challenger Bank Battlefield report provides an excellent overview of the new fintech players, their strategies and market potential. Digital Banking Report Digital Banking Strategies Innovation Strategies fintech

Fintech Start-Ups: Threat or Innovation Partner?

The Financial Brand

Once considered a competitive threat, fintech start-ups can also be a partner for innovative growth. Innovation Strategies Technology Strategies Efma Finacle fintech Infosys payments technology

Banking Options Narrow: Partner or Acquire Fintech Firms

The Financial Brand

Many legacy banking organizations are either partnering or acquiring fintech firms to jump start innovation efforts. Digital Banking Strategies Innovation Strategies Technology Strategies fintech innovation P2P payments PwC

Fintech, Big Tech Rivals Drive Growing Dedication To Innovation

The Financial Brand

Innovation in Retail Banking report shows growing commitment to innovation, but insufficient investment in advanced data analytics. The post Fintech, Big Tech Rivals Drive Growing Dedication To Innovation appeared first on The Financial Brand.

Fintech and Banking Partnerships Require an Understanding

The Financial Brand

Before traditional financial institutions and fintech firms partner, it's best to understand the differences. Digital Banking Strategies Innovation Strategies Technology Strategies digital banking fintech