Bank Innovation

NOVEMBER 12, 2019

Despite a recent legal challenge, Comptroller of the Currency Joseph Otting said the regulator will continue to advocate for passage of the OCC’s special purpose fintech charter. At the RegTech 2019 conference in New York on Tuesday, he reiterated the case for having nonbanks that offer banking services under regulatory oversight.

Fintech 170

Fintech New York Conference Regulation 170

PYMNTS

JULY 17, 2018

The credit union (CU) market has long argued that rules intended for larger, more traditional banks have unjustly been applied to their industry, stifling their growth and pace of innovation. However, recent changes in regulations could open new doors for the credit union market to more efficiently serve its members.

Hawaii 100

Hawaii Marketing Report Texas 100

Bank Innovation

NOVEMBER 18, 2019

Germany has a message for big tech companies: Get ready to be regulated if you want to offer banking services. It’s really, really important” to ensure a level playing field between banks and new competitors, Deputy Finance Minister Joerg Kukies said at a conference in Frankfurt on Monday. That means the big tech firms also […].

Conference 170

Conference Regulation Company Innovation Strategies 170

BankInovation

OCTOBER 1, 2020

The Federal Deposit Insurance Corporation (FDIC) has taken steps to promote fintech partnerships and diversity and inclusion within the financial services industry, both internally at the FDIC and among the institutions it regulates, FDIC Chairwoman Jelena McWilliams said during the LendIt Fintech USA 2020 conference Wednesday.

FDIC 98

FDIC Fintech Innovation Conference 98

BankInovation

JULY 7, 2020

Wirecard AG’s collapse displayed a growing blind spot for the guardians of the world’s financial system: how do you regulate a firm that acts like bank, but isn’t really a bank?

Regulation 80

Regulation Fintech System Innovation Strategies 80

BankInovation

OCTOBER 1, 2020

The Federal Deposit Insurance Corporation (FDIC) has taken steps to promote fintech partnerships and diversity and inclusion within the financial services industry, both internally at the FDIC and among the institutions it regulates, FDIC Chairwoman Jelena McWilliams said during the LendIt Fintech USA 2020 conference Wednesday.

FDIC 52

FDIC Fintech Innovation Conference 52

Insights on Business

APRIL 5, 2018

Those numbers also incorporate approximately 250,000 financial advisors, 300,000 retirement plans, 1,300 asset management firms, through 27 different plan providers, and over 50 global regulators to maintain compliance. Innovative strategies and value propositions. Greatly value speed of integration and delivery.

Operations 102

Operations Analytics Software Data 102

The Financial Brand

NOVEMBER 10, 2021

Potentially the answer to the controversy swirling around payday lenders and overdrafts, can this nascent product be regulated appropriately? The post Increasing Popularity of ‘Early Pay’ Products Raises Thorny Questions appeared first on The Financial Brand - Banking Trends, Analysis & Insights.

Banking Trends 36

Banking Trends Analysis Trends Regulation 36

The Financial Brand

DECEMBER 25, 2019

Financial institutions often let regulations be an obstacle to change. The post 4 Ways Banks Can Overcome Regulatory Barriers to Innovation appeared first on The Financial Brand. Leaders who learn from other industries can overcome this constraint.

Innovation 33

Innovation Regulation Branding Industry 33

Bank Innovation

FEBRUARY 11, 2020

This week, digital banking startup Varo received approval from the Federal Deposit Insurance Corporation, a significant milestone in the company’s three-year quest to become a bank.

Digital Banking 293

Digital Banking Company Innovation Strategies FDIC 293

Bank Innovation

DECEMBER 24, 2019

Financial technology startups will enter the next decade with a little more street cred than the last time around. Nearly 60 upstarts focusing on financial services — from Stripe Inc. to Chime Inc. to Plaid Inc. — have garnered valuations of more than $1 billion in recent years, according to CB Insights.

Financial Technology 332

Financial Technology Technology Innovation Strategies Apple 332

Bank Innovation

FEBRUARY 26, 2020

The parameters around how consumer financial information should be shared with third-party apps and platforms was the subject of debate at an industry forum organized by the Consumer Financial Protection Bureau in Washington, D.C., on Wednesday.

Data 300

Data Washington Industry Customer Experience 300

Bank Innovation

MARCH 19, 2020

What is the role of innovation in response to these rapidly unfolding events? For insights into these questions, Bank Innovation and INV Fintech, its sister banking innovation services platform, will present a special Zoom meeting on […]. How will banks and startups work together?

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Meeting Fintech Innovation Customer Experience 293

Bank Innovation

JANUARY 20, 2020

The regulator’s moves have created an opening for super apps […]. Singapore is becoming a haven for e-commerce companies looking to get into banking in Asian markets.

Fintech 293

Fintech Marketing Report Company 293

Bank Innovation

OCTOBER 29, 2019

Digital banking brand Varo has 1 million customers, and is pushing ahead with plans to become a nationally-chartered bank early next year, CEO Colin Walsh told Bank Innovation Tuesday.

National 284

National Innovation Digital Banking Branding 284

Bank Innovation

MARCH 11, 2020

At Royal Media, Bank Innovation‘s publisher, we take great pride in the value of our exceptional industry conferences and the effort we put into their production. We rightly view our more than a dozen annual conferences as crucial opportunities for business development in our industries.

Conference 243

Conference Innovation Industry Customer Experience 243

Bank Innovation

JANUARY 27, 2020

For Brice Luetkemeyer, president and CEO of Bank of St. Elizabeth, a Missouri-based community bank with $150 million in assets, investing in a core banking startup is critical for its future. Together with a group of other community banks, Bank of St. Elizabeth recently invested in Neocova, a St.

Missouri 221

Missouri St. Louis Community Bank Community 221

Bank Innovation

DECEMBER 6, 2019

The Clearing House (TCH) showed encouraging progress for the digital financial ecosystem last month when they proposed their model financial data sharing agreement. Kabbage and Plaid support simple and uniform rules for data sharing.

Data 221

Data Innovation Strategies Strategy Compliance 221

Bank Innovation

NOVEMBER 14, 2019

Speaking at an industry conference in New York this week, Steve Ledford, senior vice president of products and strategy at The Clearing House, said the network is seeing 25% growth every month. The Clearing House reports that its real-time payments (RTP) network is growing more quickly than anticipated.

New York 170

New York Conference Strategy Industry 170

Bank Innovation

JULY 26, 2019

In this episode, Suman Bhattacharyya, deputy editor of Bank Innovation, discusses the following news developments: How Presidential candidate Elizabeth Warren and other lawmakers are advocating for the U.S. Welcome to the latest episode of our weekly wrap video series, for the week ending July 26, 2019.

Industry 170

Industry Video Payments Innovation 170

NCR

MARCH 15, 2016

How can a bank fund a business if its new treasurer had once been cited by regulators? History of audit failure: An old and relatively minor error in bookkeeping could still come back to haunt an entrepreneur.

Taxes 40

Taxes CA Lending Strategy 40

The Financial Brand

NOVEMBER 6, 2019

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.

Fintech 13

Fintech Regulation Branding Innovation Strategies 13

Bank Innovation

OCTOBER 7, 2019

Robinhood is getting a new board member: Dan Gallagher, a former commissioner for the U.S. Securities and Exchange Commission. The addition comes almost a year after a planned Robinhood checking account product was torpedoed by regulatory and insurance questions.

Security 150

Security Innovation Strategies Strategy Compliance 150

BankInovation

JULY 9, 2020

Big banks are taking inspiration from government intelligence agencies when it comes to combating cybersecurity threats as command centers become the standard, according to Bill Stewart, partner at fintech consultancy Capco. “If If you’re a large [financial institution], for sure you have it.

Fintech 81

Fintech Innovation Strategies Strategy Compliance 81

PYMNTS

AUGUST 1, 2019

Regulations were cited disproportionately as barriers to mobile/digital payment innovation while complicated internal processes were most cited as stumbling blocks to digital identity and authentication innovation. FIs are getting more serious about their innovation strategies and narrowing their focuses.

Innovation 142

Innovation UX Analytics Study 142

BankInovation

JULY 31, 2020

Varo Money officially announced today it is shedding the “banking startup” title, as the company has finally received its banking charter after a three-year journey. Whether more fintechs will follow suit remains to be seen. “A

Capital 64

Capital Fintech Payments Company 64

BankInovation

JULY 31, 2020

After a three-year saga, Varo Money finally has its bank charter. The Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation and the Federal Reserve all signed off on Varo Bank N.A., the bank announced today. This is a thrilling milestone for Varo, as the bank charter has been a core part […].

Innovation Strategies 64

Innovation Strategies FDIC Strategy Compliance 64

The Financial Brand

JULY 29, 2021

Having innovation as a priority is the first step, but it rarely goes further without first overcoming common roadblocks. The post 4 Reasons Why Digital Banking Teams Struggle to Innovate appeared first on The Financial Brand - Banking Trends, Analysis & Insights.

Digital Banking 43

Digital Banking Innovation Banking Trends Analysis 43

The Financial Brand

AUGUST 24, 2016

Effective financial regulatory policy must maintain control of undo risks while allowing for innovative market opportunities.

Policies 12

Policies Innovation Marketing Innovation Strategies 12

BankInovation

AUGUST 18, 2020

Democrats on Wall Street welcomed Joe Biden’s choice of running mate Kamala Harris as a sign that party progressives who favor more aggressive bank regulation had been kept at bay. But her track record in the Senate and in state government might give the financial industry pause.

Industry 52

Industry Regulation Innovation Strategies Strategy 52