Bank Innovation

MARCH 19, 2020

How will banking and fintech business models be impacted by this unprecedented coronavirus pandemic? What is the role of innovation in response to these rapidly unfolding events? How will banks and startups work together?

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Abrigo

APRIL 19, 2016

banks incorporate “responsible innovation” as they adapt quickly to these advances, but what exactly does that mean? In a recent whitepaper (download), the regulator outlined the general approach it will take as it evaluates innovative products, services and processes that OCC-regulated banks may offer or perform.

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Bank Innovation

MAY 29, 2018

billion only days before its IPO to major regulations such as GDPR going live last week. Here are some of the important trends that Bank Innovation pulled out of the fintech chatter […]. A lot happened in the digital banking world this month, from major events in the payments worlds like PayPal acquiring iZettle for $2.2

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Chris Skinner

MARCH 23, 2017

I’ve been working closely with BKM, the Turkish retail payments clearing company, for a few years now. They manage the Fintech Istanbul program, and are the powerhouse behind many of the innovations we’ve seen in Turkey from mobile wallets to contactless payments. Could you please tell us a bit about banking sector in Turkey?

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PYMNTS

MARCH 2, 2020

It’s really difficult, the banking ecosystem is not fast and that’s just reality,” Jim McCarthy, industry expert and former innovation head for Visa, told Karen Webster in a recent conversation. The Headwinds Creating The Innovations Gap . But they all tend to have three things in common.

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Bank Innovation

FEBRUARY 15, 2020

Lured by friendly regulators, fintechs have proliferated and investors have poured billions into companies that have rattled centuries old, high-street lenders. Defying the gloom around the financial services industry in post-Brexit Britain, the U.K. has maintained its edge in fostering the industry’s digital revolution.

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Bank Innovation

MARCH 10, 2016

Is there a way to prevent regulators from derailing a bank’s fintech initiatives? In fact, the influential community banker has devised a distinct strategy for limiting the bank’s regulatory risk from fintech projects, Read More. Jill Castilla, president and CEO of Citizens Bank of Edmond, located in Edmond, Okla.,

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PYMNTS

MARCH 10, 2020

In today’s top payment news, retail remains a bright spot in the markets, Ant Financial has rolled out a strategy for digital evolution in China, and the Consumer Financial Protection Bureau (CFPB) filed a suit against a Cincinnati-based bank. Payments Stocks Plummet While Retail Remains A Bright Spot.

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PYMNTS

DECEMBER 31, 2020

Fast-forward to the present, and Afterpay now counts more than 11 million active customers at 63,000 retailers – and most recently reported doing $2.1 One is regulatory trends, where regulators are looking to increase competition in this field and drive innovation. "One The other is technological innovation.

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PYMNTS

JANUARY 7, 2019

Government Accountability Office (GAO) said that financial regulators should look more closely at the role of non-bank tech companies in the small business (SMB) lending and consumer lending markets. According to the banks that have linked with FinTech firms, such guidelines would help relationships between the parties.

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Bank Innovation

APRIL 25, 2019

Fintechs are having trouble facing reality when it comes to obtaining bank charters, FDIC Chairman Jelena McWilliams and Comptroller of the Currency Joseph Otting said here at the FDIC’s Fintech and the Future of Banking conference on Wednesday. WASHINGTON, D.C.

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PYMNTS

JANUARY 30, 2020

Banks and FinTechs continue to discover new opportunities in unlocking corporate clients’ financial data, with banks embracing data integration for their own product development initiatives, and FinTechs finding new ways to collaborate with each other. Mastercard Taps FinTech for Biz Card Boost.

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PYMNTS

NOVEMBER 13, 2020

Managing inventory, B2B payments and a plethora of food and beverage vendors can be a headache for any kind of restaurant, bar or retailer. But in the alcohol beverage arena, unique regulations — many of which date back to the era of prohibition — have added an extra layer of complexity to the supply chain.

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Bank Innovation

MARCH 27, 2020

In a week that saw the coronavirus pandemic amplify in the United States, the fintech sector continued to weather economic dislocation and uncertainty. But even amid this uncertainty, fintech companies began formulating strategies to help banking and consumers emerge from the crisis with better tools and solutions.

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PYMNTS

JANUARY 17, 2018

While this industry is largely reliant on corporates’ adoption of innovative technology, it is also instrumental to getting issuing banks in on the movement. According to the executive, the key is to work “with banks, not against them” – a sentiment that has become a mantra for many in the FinTech market.

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PYMNTS

JULY 30, 2018

This is designed to promote competition and innovation by supporting new entrants into the marketplace,” Nanopay CEO Laurence Cooke told PYMNTS.com in an interview. Even so, the retail framework has been in draft and still needs to find a regulator – and people must be trained as well. But that could potentially change.

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Bank Innovation

DECEMBER 31, 2019

With the start of the new year, banks and fintech companies that do business in California will need to grapple with the new California Consumer Privacy Act (CCPA), which goes into effect Wednesday.

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PYMNTS

FEBRUARY 5, 2020

The Merchants’ Guide to Navigating Global Payments Regulations , powered by Ekata, dives deep into this complex and unsettled topic, from possible abrupt retail impacts to long-term open banking repercussions. The General Data Protection Regulation (GDPR) turns two in May, and just like a toddler, it’s messing things up­ (for some).

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PYMNTS

DECEMBER 9, 2019

Also, as big tech moves into the financial services industry, regulators call for more “vigilant monitoring” of its data use. Regulators Call for ‘Vigilant Monitoring’ of Big Tech’s Financial Data Use. PayPal’s Schulman: Why Payments’ Biggest Innovations Are Yet to Come. Goldman Plans to Launch Robo Advisor Next Year.

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PYMNTS

SEPTEMBER 28, 2020

Banks, businesses and consumers fundamentally altered how they interacted with each other in the early months of the COVID-19 pandemic — and regulators tasked with making sure their data and payments are kept safe took notice. Regulators in countries like Egypt have only recently rolled out their data protection rules.

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Bank Innovation

DECEMBER 13, 2016

This was a big year for fintech, with new regulations, new startups, and new technologies displayed across events like Sibos and Money20/20, making it clear that the progress of fintech can’t really be stopped. It’s almost time to wave goodbye to 2016. But how will it continue? That’s the real Read More.

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PYMNTS

JANUARY 28, 2020

The problem often stems from the environment in which they are operating — one that can put the brakes on innovation, even when innovation is key to thriving. They are heavily regulated and require heavy investment,” both in terms of capital and human resources. But that’s not the whole story, of course.

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Bank Innovation

DECEMBER 7, 2016

Year-old Citi Fintech, the digital banking sub-brand of Citigroup Inc., That may seem like a long time by startup reckoning, but it’s not so bad for a (gigantic, regulated, global) bank. has launched its first product. The unit announced Monday that it had built a new mobile experience for Citigold card members Read More.

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PYMNTS

JANUARY 18, 2022

The CEO and CFO of the BitMEX cryptocurrency derivatives exchange announced today that they have reached an agreement to purchase a 268-year-old German bank in order to establish “a one-stop shop for regulated crypto products in Germany, Austria, and Switzerland.”. Regulated” is a word Höptner returned to repeatedly in the announcement.

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PYMNTS

JULY 18, 2019

The second Payment Services Directive (PSD2) is changing how banks share data and interact with third-party providers and FinTechs, which are now relying on open banking information and application programming interface (API) access to build out new products. payments and financial innovations. PSD2 and the dawn of the platform .

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PYMNTS

JANUARY 17, 2020

We have a deep dive into real-time payments and news on Visa ‘s FinTech play with Plaid and insight into buy now, pay later (BNPL). FinTech Play, Wrapped In Plaid. Visa Tap To Phone Expands POS Acceptance For Retailers. How good a friend is Amazon to other retailers?

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NCR

MARCH 7, 2018

Over the last few years, a range of new competitors have emerged looking to take on legacy financial institutions by offering more agile, innovative banking solutions to consumers. However, these firms have long been barred from offering full financial services in the US due to regulations mandating the separation of commerce and banking.

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PYMNTS

MARCH 14, 2019

From this day forward (March 14), businesses covered by the European Union’s (EU’s) Second Payment Services Directive ( PSD2 ) are supposed to have a testing regime that conforms to the FinTech regulation. The core of PSD2 is Open Banking, not the hoarding of accounts from a few big banks to hold up innovation in the payments world.”.

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PYMNTS

JANUARY 3, 2020

This only increased earlier this year with the implementation of strong customer authentication (SCA), which forced merchants to develop security solutions that would not impact sales and sent retailers scrambling to project how these changes would affect operations. FinTechs Struggle With Higher Standards. He pointed to the U.K.,

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PYMNTS

OCTOBER 11, 2017

That’s because retailers have so far been quick to jump on the connected commerce bandwagon. But, he added, with many banks thinking about how to leverage technology and innovation to better serve clients, getting executives to engage has become easier. Maybe it comes down to regulations. Banks, well, haven’t.

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PYMNTS

DECEMBER 17, 2020

UK FinTech GoCardless Raises $95 Million Led By Bain. FinTech GoCardless has raised $95 million in a Series F funding round led by Bain Capital Ventures. Fiserv To Acquire FinTech Ondot Systems. The FinTech Fiserv has signed a deal to acquire Ondot Systems. The financial terms of the agreement were not disclosed.

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Bank Innovation

MARCH 9, 2017

Community banks can also play the fintech game. BankMobile — the digital bank, formerly a division of Customers Bancorp Inc. — was acquired by Flagship, a Florida-based community bank, for $175 million. “We We are an independent bank,” said Luvleen Sidhu, BankMobile’s co-founder, regarding the acquisition. “We

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PYMNTS

NOVEMBER 21, 2017

financial institutions (FIs) have been advised to comply with the EU’s Revised Payment Service Directive (PSD2) regulations despite Brexit, but the U.K. With Open Banking fast approaching, FinTechs are “chomping at the bit” to get their ideas and services out on the market, added Gorst. As the U.K. ’” said Gorst.

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PYMNTS

APRIL 30, 2018

It’s a thought that was triggered recently after reading and reflecting on recent developments across three innovations heralded as FinTech’s poster children — disruptors out to change the world and eat the proverbial lunches of incumbents they say are too big and too unmotivated to change. Blockchain. Marketplace lending. Blockchain.

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Accenture

NOVEMBER 27, 2017

Connecting more than 8,000 decision makers and thought leaders across the industry, Sibos 2017 in Toronto was once again the platform where the global financial community explored the disruptions and opportunities in payments driven by innovation, technology and new business models.

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Bank Innovation

APRIL 3, 2019

Regulations such as PSD2 and GDPR (General Data Protection Regulation) have put regtech companies at the front and center of the global fintech ecosystem. In fact, a recent report shows that the global regtech market is expected to grow from $4.3 billion last year to $12.3 billion by 2023.

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Celent Banking

FEBRUARY 28, 2017

Product Innovation — for demonstrating the ability to launch multiple innovative products. While some banks are rolling out Open API development portals in response to regulations like PSD2, the Model Bank candidates in this category are using APIs to improve the customer experience. I look forward to seeing you there.

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