Banked builds a US presence
Payments Dive
DECEMBER 4, 2023
The fintech, founded in the U.K. and now building up operations in the U.S., expects its pay-by-bank services for bank clients will eventually lure retailers.
The Bank-FinTech Collaboration Model Goes Global
PYMNTS
JANUARY 19, 2021
With more financial institutions (FIs) turning to external third-party FinTechs to strengthen their small- to medium-sized business (SMB) and corporate offerings, the collaboration model is proliferating across national borders. Reports said the bank’s digitization effort aims to enhance its SMB, corporate and retail operations.
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Young Consumers Love to “Buy Now, Pay Later” – Here’s What to Know About the Explosive Fintech Trend
Perficient
JULY 11, 2022
Buy now, pay later (BNPL) is a type of point-of-sale installment loan that partners with retailers to allow consumers to pay for their purchases in multiple equal payments. When online shopping, if a retailer has a partnership with a BNPL platform, the customer can choose it as their payment method when placing their order at checkout.
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German FinTech N26 Eyes IPO With Hiring Of New CFO
PYMNTS
JANUARY 25, 2021
Jan Kemper as its new chief financial officer (CFO) as the Berlin-headquartered FinTech looks toward a future initial public offering (IPO). The former CFO of Zalando SE, one of Europe’s most successful eCommerce retailers, Kemper was instrumental in leading the company’s IPO in 2014 on the Frankfurt stock exchange. Following the U.K.’s
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FinTech Innovation Eases B2C Sellers’ Entrance Into The B2B World
PYMNTS
DECEMBER 9, 2020
When Home Depot announced last month its plans to acquire HD Supply Holdings , it wasn’t just a sign of expansion for the home improvement retailer. The takeover signaled an evolution of the company's business model from a traditionally business-to-consumer (B2C) seller, to one that includes business-to-business (B2B) operations.
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Operant Calls for Consortium to Improve Debt Collection
Bank Innovation
JANUARY 23, 2019
Toronto-based fintech Operant.AI Operant Founder and CEO Allan Fisch said at a meetup yesterday at Bank Innovation’s headquarters in New York that a consortium would allow the FIs to contribute anonymized data on the performance of their third-party […].
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Xs and Os: The Power of Experience and Operational Data in Retail Banking
Banking Exchange
JUNE 27, 2019
Customers are comparing their bank’s digital experience to that of retailers Retail Banking Technology Big Data Financial Research Feature Feature3 Fintech.
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German Fintech Deposit Solutions Acquires Savedo
Bank Innovation
AUGUST 14, 2017
German fintech company Deposit Solutions acquired Berlin-based retail deposits platform, Savedo for an undisclosed amount, it was announced today. It also operates the investment platform ZINSPILOT. Hamburg-based Deposit is an open banking platform for deposits.
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Today In Payments: Purchases Using Voice-Assistants Up 10 Pct; Afterpay Goes In-Store Nationwide With Major Retailers
PYMNTS
OCTOBER 14, 2020
In today’s top news, purchases via voice assistant are up 10 percent year-over-year, and Afterpay is now available in-store nationwide with major retailers. Afterpay Goes In-Store Nationwide With Major Retailers. 13) unveiled its iPhone 12, which as was widely expected, operates on high-speed 5G networks. on Tuesday (Oct.
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FinTechs Prove Their Value During Pandemic
PYMNTS
NOVEMBER 30, 2020
At a time when surging coronavirus counts are once again muddying the outlook for consumers and business owners, MerchantE Chief Financial Officer Shim Steinmetz says the crisis has also provided a silver lining of sorts to nimble FinTechs that can solve merchants’ cash crunch problems. Don’t Put Too Much Faith In Credit. Or consider Sears.
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Walmart Eyes FinTech Expansion With Ribbit Capital Partnership
PYMNTS
JANUARY 12, 2021
For Walmart, FinTechs are in sight — but where to from here? As reported , Walmart is working with Ribbit Capital to create an as-yet unnamed FinTech that would, the companies said on Monday (Jan. The range of what might come would be determined, in part, by just how far Walmart’s ambitions might stretch.
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Retail banking trends to look out for in 2023
Independent Banker
OCTOBER 31, 2022
ITMs and VTMs are popular retail banking innovations among community banks. What’s on the horizon for retail banking? According to a new report from PwC titled “Retail Banking 2025 and Beyond” (see sidebar), the retail banking industry is undergoing tremendous change—but, of course, community bankers already know that.
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U.K. Investment Association to Launch Fintech Accelerator Program
Bank Innovation
FEBRUARY 19, 2018
The innovation of fintech is not limited to retail banking, according to the UK Investment Association, which today said it would launch an accelerator for fintech starts focused on AI, ML, DLT technologies in the asset management sector. Investment Association is a 240-member community.
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APIs Drive New Need For Retail Location Apps
PYMNTS
APRIL 27, 2020
But after that initial download, retailers and purchase aggregators pretty much let users run the course of their screens, never thinking that advanced applications would someday become important. Some companies have been trying to bring retailers into the new world of “necessary” location-based app technology for mobile retailing.
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Nigeria Turns To FinTechs To Boost Financial Inclusion
PYMNTS
DECEMBER 1, 2019
Lenders are hoping to stave off mobile competition by expanding retail banking. FinTech is helping to transform daily consumer life in Nigeria and other developing markets. FairMoney , a consumer micro-lending technology company that operates in Nigeria, raised $11 million in September in a Series A round.
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Commercial Banks Turning to Fintechs to Improve Customer Experience, Report Says
Bank Innovation
APRIL 5, 2019
commercial banks are increasingly looking to fintechs to improve customer experience. commercial banks are considering new fintech partnerships for improving either customer experience or security, and in some cases -- both. Customer experience has increasingly become a central theme in banking, both retail […].
SigFig Launches Advice and Sales Platform for Retail Banks and Customers
Bank Innovation
MARCH 27, 2019
SigFig, a San Francisco fintech specializing in robo advice, today unveiled SigFig Atlas, an interactive platform for financial advice and software-guided sales that faces both retail banks and their customers.
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Can fintechs enhance your bank’s marketing campaign?
Independent Banker
FEBRUARY 28, 2022
We asked several banking leaders how they’ve employed fintech to ramp up their marketing campaigns, hone their analytic strategies and gain new patrons in the process. The digital world has opened vastly broader avenues for community banks to attract new customers—especially if they partner with fintechs in their endeavors.
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Fintech Unfiltered: Inside HSBC Bank USA’s Lofty Innovation Strategy for 2018 [Podcast]
Bank Innovation
DECEMBER 13, 2018
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. operations. These projects range from less visible, but equally important, system upgrades on the back-end and more visible ones like installing Softbank’s robot Pepper in its New York flagship.
Innovation Hub Motive Labs Seeks to Solve Major Pain Points of Retail Banks
Bank Innovation
JANUARY 23, 2018
EXCLUSIVE – The two fundamental keys to most challenges retail banks and payment companies face on the innovation front are personalization and efficiency, according to Alberto Corvo, a founding partner at fintech focused investment firm Motive Partners.
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To Lure Tech Talent, Fintechs Relocate, Pull Out Wallets and Dangle Cultural Perks
Bank Innovation
FEBRUARY 14, 2019
Established fintechs, startups, banks and tech giants alike are pulling out all the stops to attract and retain the same pool of tech talent. Some firms move operations to where the people are, others acquire the companies with the talent they’re looking for, and others simply loosen their purse strings.
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Digital Currency Eyes Wholesale — Not Retail — Payments Down Under
PYMNTS
JANUARY 20, 2020
An idea that may get a splash of cold water is that the development of a digital fiat (at least, in Australia) would lead to a groundswell of payments at the retail point of sale — in other words, through a boost in use cases. What It Won’t Do. There are inherent risks, too.
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Boost efficiency through operational innovation in financial services
Insights on Business
NOVEMBER 29, 2018
Operational innovation is vital in a highly competitive financial services sector, with a new community of digital banks and other firms vying for market share. Drivers for Operational Innovation. Ongoing conversations between IBM and CFOs over the years have identified key activities that can help progress operational efficiency.
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FinTech Startup Sezzle Tops 1M Active Customers
PYMNTS
FEBRUARY 10, 2020
Digital payments FinTech startup Sezzle announced on Monday (Feb. “One million active users is a huge operational achievement, and a testament to the value our users see in our product. Sezzle’s payments platform expedites quick, safe and simple payments among consumers and retailers. and Canada and is quickly growing.
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Singapore FinTech Grab Mulling US IPO Of Up To $2 Billion
PYMNTS
JANUARY 18, 2021
Singapore-based FinTech Grab is mulling a U.S. Grab Financial Group offers payments and financial services including lending, insurance and retail wealth management throughout Southeast Asia. initial public offering of at least $2 billion in the wake of failed merger talks with Indonesian rival Gojek.
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How Retail Underdogs Can Avoid An Amazon Holiday Blowout
PYMNTS
NOVEMBER 19, 2018
But the same technology that enables those transactions also can bring the benefits of consumer intimacy to small and medium-sized businesses (SMBs) that are often struggling to win more market share in a retail world dominated by the likes of Amazon, Walmart and other large retailers. That might sound obvious.
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177 Retail Innovation Has Changed — Can SMBs Keep Up?
PYMNTS
NOVEMBER 9, 2018
The ascent of eCommerce and the digital tools that support it have made it easier — in both theory and practice — for retailers to not only see how consumers browse and what they buy (to analyze the entire path to purchase), but to get to know them in the same ways as those old-time general store operators who served small towns.
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B2B FinTechs Start 2020 Strong With More Than $1B In VC Funding
PYMNTS
JANUARY 24, 2020
Venture capital (VC) is not easily available to every startup, but this week, VC investors hinted at a big year ahead for the B2B FinTech space. The firm, based in South Africa, said it will use the funding to scale operations across Southern Africa, the U.S. Flutterwave. Berkshire Grey.
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Banks, FinTechs Find New Open-Data Use Cases
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. Bankin’ Steps Into Payments APIs.
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Blockchain-Powered B2B FinTech Roars Back With VCs
PYMNTS
FEBRUARY 7, 2020
Envoy operates a blockchain platform built with R3’s Corda, with a focus on streamlining financial processes in the global trade space — including facilitating payments via tokenization technology. The $13 million raised for U.K.
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Fostering FinTech-FI Trust With Data-Driven Security
PYMNTS
JUNE 5, 2020
Providing robust services via mobile channels is especially important now, as the COVID-19 pandemic has caused businesses to operate remotely and consumers to stay at home as much as possible. Such vigilant security means FinTechs must vet new customers and continually review existing ones for changes in their money laundering risk, he said.
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Southeast Asia Tips The B2B FinTech Funding Scales
PYMNTS
FEBRUARY 28, 2020
With more than $1 billion raised — and more to come — this week became the most lucrative for B2B FinTech venture capital funding. B2B eCommerce startup Sokowatch scored a win for Kenya’s B2B FinTech community after raising $14 million in Series A funding, reports in TechCrunch said.
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175 Why The Bank-FinTech Relationship Is More Complicated Than Conflicted
PYMNTS
NOVEMBER 1, 2018
The ongoing struggle, supposedly existential in nature, that pits upstart, relatively young FinTech firms against arrogantly complacent banks for supremacy in this new and growing world of digital payments and commerce. Or, as a recent CNBC article put it, quoting a source, “a mass extinction event.”. The subject? Trust in Banks.
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Lightspeed Rolls Out Integrated System; Central JD Fintech Unveils Dolfin Wallet
PYMNTS
JANUARY 30, 2019
In addition, Central JD Fintech is introducing the Dolfin wallet in Asia , and AMS Public Transport Holdings Limited along with AlipayHK is launching a minibus mobile payment system also in Asia. The system integrates payment processing with a point of sale (POS) for merchants operating online and in physical stores.
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Fintechs Face Difficult Regulatory Realities on Charters
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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Modo On How FinTechs Can Help Merchants Access Payments Marketplaces
PYMNTS
NOVEMBER 27, 2018
Funding can often be a sign of confirmation for FinTech startups. To help further its mission, the Texas-based FinTech startup recently notched $13 million in Series A financing to bring its total amount of funding to more than $16 million.
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Ally Financial Has Milennials to Thank for Its Impressive Retail Deposit Growth
Bank Innovation
JANUARY 30, 2019
s robust marketing strategy for its retail bank has paid off, as the bank today reported that half of its new retail customers were millennials. Of Ally Financial’s 230,000 new retail deposit customers via its retail side, Ally Bank, 126,500 were millennials, according to bank’s earnings report released today.
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A Bank Automation Summit Preview: Dissecting the Intersection of Real-time Payments and Automation
Perficient
FEBRUARY 27, 2023
During the Summit, we’ll seek to socialize and discuss how the adoption of real-time payments services like FedNow and RTP in the US will bring a new dimension of change for banks, fintechs, retailers, large corporations, and other stakeholders. Ultimately, change equals risk.
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275 The Future Is Not Bright For Most Angel-Stage Fintech Startups
Bank Innovation
JULY 12, 2018
Most fintech startups don’t survive. The landscape of payments, lending, artificial intelligence might seem bustling thanks to all the industry hoopla around it, but the success rate for a startup to make it in these fields — or for that matter any of 15-plus fintech segments — is slim. Well, according to a […].
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247 Most FIs Don’t Consider FinTech Firms As Competitors, But Maybe They Should
PYMNTS
APRIL 29, 2019
Retail Banking Satisfaction Study , retail banking was declared to have bounced back reputation-wise over the past decade, due to improvements in customer service spurred by innovations like mobile banking. Most banks operated in specifics, and were responding to current (50.6 For example, in the newly released J.D.
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193 How Banks Can Leverage Superior Enterprise Products Over Fintechs
Bank Innovation
MARCH 4, 2019
Lisa Shields, founder and CEO of FI.SPAN, a cloud-based API services management platform, says banks don’t necessarily need to cede ground to fintechs to stay ahead of the curve, particularly in business banking.
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199 Retail Pulse: CVS, UPS Test Drone Potential; Birchbox Grows Walgreens Partnership
PYMNTS
NOVEMBER 8, 2019
Brick-and-mortar retailers are teaming with logistics firms to test drones for delivery — and making progress on their experimental flights. A remote operator monitored them and could step in if needed.) The pop-up shops will be in the pharmacy chain’s retail locations in 44 states starting this Friday and through the end of December.
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German FinTech Raisin Eyes US Launch Following Latest Acquisition
PYMNTS
JANUARY 15, 2020
European wealth management FinTech Raisin is planning to roll out in the U.S. Banks will be able to offer the new solutions directly to their own customers or use Raisin’s platform to reach all potential retail consumers. Raisin will license Choice FS’ software to banks in the U.S., platform,” said Raisin U.S. CEO Paul Knodel.
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China's Tests Of Digital Yuan Have Processed 4 Million Transactions
PYMNTS
NOVEMBER 2, 2020
Yi, speaking at Hong Kong FinTech Week on Monday (Nov. 2), said that FinTech companies have some "key advantages" over traditional banks in terms of developing a customer base and curbing risk. The trial was rolled out in four cities earlier this year. In October, PBOC made the decision to issue 10 million yuan ($1.5
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