PYMNTS

JULY 1, 2019

When it comes to technological innovation, however, the smaller players have long been outgunned by larger FIs and their sizable IT budgets. Today, small banks are more aggressive and ambitious in their innovation strategies than medium-sized and large FIs. This is changing — in a big way. On average, these FIs designate 45.7

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Innovation Innovation Strategies Survey Groups 157

PYMNTS

JANUARY 24, 2018

The financial services industry is no stranger to innovation, but it increasingly appears that change in the space is being driven by outsiders instead of the financial heavyweights. Traditional banks and FIs can either keep up with the pace of innovation or risk losing customers to disruptive innovators. The good news?

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Innovation Data Innovation Strategies Fintech 144

PYMNTS

OCTOBER 23, 2017

When IT Becomes a Drag on Innovation. FIs want to innovate – 97 percent of banks and credit unions surveyed told PYMNTS they have focused on innovation over the past three years. Thirty-six percent of FIs say their existing IT infrastructures made payments innovation hard or very hard. So, what’s stopping them?

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Innovation Trends Survey Maine 131

PYMNTS

AUGUST 1, 2019

But how much are FIs really investing in blockchain and artificial intelligence (AI) compared to more foundational innovations? The latest Innovation Readiness Playbook looks at where FIs have been focusing over the past three years and what their plans are for the near future. When asked about specific innovations, 56.1

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Innovation UX Analytics Study 142

Chris Skinner

JUNE 2, 2016

During one part of my recent conference activity, I asked the banks in the audience how they organised their innovation strategies. All of them have one, is the good news. All of them have different nuances of how they structure for innovation however.

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PYMNTS

MAY 31, 2018

According to recent research from PYMNTS, the industry’s innovation pacesetters are those who devote the most time to developing new features, products and services. They are also the FIs that allocate the majority of their budget and other resources to testing those innovations. So what’s an FI to do? Enter the sandbox test.

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Innovation Data Innovation Strategies Community Bank 116

PYMNTS

JULY 18, 2019

Depending on where you look, the chasm yawns wide when it comes to innovating with new technologies or features. In a PYMNTS interview with Karen Webster, Joe DeRosa, EVP of Global Sales at i2c , discussed the findings of the July 2019 Innovation Readiness Playbook , subtitled “Leveling the Playing Field for Different-Sized FIs.”

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Innovation Study Technology Millennials 155

PYMNTS

DECEMBER 14, 2020

Additionally, we’re constantly adding new features to our software and bringing more partner integrations to our platform to enable even more commerce experiences.”. She said that many retailers are continuing to innovate, with some posting QR codes in shop windows.

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PYMNTS

JULY 30, 2019

Modern credit unions understand all too well that loyalty innovation is critical to staying in business, and that those that do not prioritize it risk losing a significant share of their members. Loyalty-based innovation is a top concern for many credit union (CU) members, as outlined in the latest Credit Union Innovation Playbook.

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Innovation Data Analytics Video 108

PYMNTS

SEPTEMBER 17, 2019

There is a mountain of friction in commercial payments today that seems to have held the industry back from the kind of rocket-pace innovation propelling retail and consumer payments into the future. We have to innovate,” he said, “and we have to accelerate our innovation.”. Thinking Beyond the Payer.

Innovation 132

Innovation Payments Cards Industry 132

Bank Innovation

JANUARY 10, 2020

In this episode, editors discuss the following news developments: Citi Ventures’ approach to product development through its internal innovation program D10X; CIT Bank’s bet on homeowners associations as a result of its acquisition of Mutual of […].

Video 221

Video Innovation Customer Experience Innovation Strategies 221

PYMNTS

MAY 27, 2016

The “startup nation” is recognized for not just brimming with tech innovation, but also harboring more high-tech startups and a larger venture capital industry per capita than any other place in the world. companies partner with innovation from Israel that will give them a global competitive edge,” Mavor explained. Over the last 4.5

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Innovation National Innovation Strategies Big Data 102

Bank Innovation

DECEMBER 6, 2019

Auto Finance News is excited to announce that applications are open for the 2020 DEMOvation Challenge, which will take place at the Auto Finance Innovation Summit on March 10-11 at the Omni San Diego.

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San Diego Innovation Technology Innovation Strategies 195

PYMNTS

JUNE 1, 2020

[The second] is the added security because obviously, as a bank, security is paramount, and [third], it allows for new technologies to be deployed rapidly.”. The third benefit is becoming critical to the evolving banking industry.

Innovation 132

Innovation Strategy Innovation Strategies Security 132

Bank Innovation

AUGUST 30, 2019

In this episode, Suman Bhattacharyya, deputy editor of Bank Innovation, discusses the following news developments: How challenger banks based outside of the U.S. customers; PNC Bank’s approach to innovation through the launch of […]. are marketing to U.S.

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Video US Innovation Marketing 150

PYMNTS

MAY 29, 2020

The Tracker also analyzes the challenges established FIs are facing to innovate their platforms and why these banks must fundamentally shift their innovation strategies to meet these challenges. For more on these and other stories, visit the Trackers News & Trends. Developments Around The Cloud Banking World.

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Digital Banking Innovation Online Technology 230

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.

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Industry Video Payments Innovation 170

PYMNTS

MARCH 20, 2019

In fact, they make the timing of their product rollouts a crucial part of their innovation strategies. Only after observing their competitors’ missteps do they fully commit to the rollout of their innovations. percent of the top innovators in the financial sector said they observe market trends first. As much as 53.3

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Innovation United States Innovation Strategies Cards 161

Bank Innovation

OCTOBER 4, 2019

In this episode, Angely Mercado, associate editor, discusses the following news developments: How Bank of China and IBM are using an innovation lab in their efforts to revamp the Bank of China mobile app; How PayPal’s newfound […].

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Tools Video Innovation Mobile 150

PYMNTS

JUNE 18, 2020

The Tracker also analyzed the challenges traditional FIs are facing to innovate their platforms and why these banks must fundamentally change their innovation strategies to meet these challenges. The report examines how legacy and challenger FIs are using the cloud to enhance their online offerings.

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Resources Innovation Strategies Analytics Innovation 221

PYMNTS

NOVEMBER 23, 2020

Retailers, too, had to respond and revise their checkout experiences when fears over the new coronavirus lingering on surfaces led to consumers becoming reluctant to exchange cash with store clerks or insert payment cards into point-of-sale (POS) terminals. To learn more about these developing trends and strategies, download the playbook. .

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Report Case Study Payments Strategy 192

PYMNTS

FEBRUARY 23, 2020

To offer expanded services as it pursues a digital innovation strategy of harnessing partnerships to provide an enhanced customer experience, Fifth Third is teaming with Fundation for small business loans. The news comes a few years after a bank referral scheme began in the United Kingdom.

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Customer Experience Innovation Strategies Guidelines Meeting 130

PYMNTS

JULY 23, 2019

When it comes to loyalty and rewards innovation, credit unions (CUs) and their members don’t always see eye to eye. Loyalty and rewards innovation tops members’ list of innovation priorities, with 49.1 percent saying they want their CUs to focus on launching new loyalty and rewards features and products. Yet, only 29.4

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Innovation United States Innovation Strategies Survey 122

Bank Innovation

APRIL 10, 2020

As COVID-19 continues to rattle the economy, startups are launching new products and features to engage customers. The week’s news wasn’t confined to coronavirus-related […].

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Fintech Customer Experience Innovation Strategies Video 369

Bank Innovation

APRIL 13, 2020

As COVID-19 continues to rattle the economy, startups are launching new products and features to engage customers. Last week’s news wasn’t confined to coronavirus-related […].

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Fintech Customer Experience Innovation Strategies Strategy 364

PYMNTS

SEPTEMBER 29, 2020

Credit unions of various sizes were eager to roll out credit card innovation plans before the COVID-19 pandemic’s onset. These expectations also drove CU executives’ innovation agendas, with 91 percent voicing serious interest in developing card product innovations. Credit Innovation Planning Reset .

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San Diego Innovation Cards California 141

PYMNTS

DECEMBER 31, 2020

Consumers waited on financial institutions (FIs) to innovate in an odd relationship that put business needs before customers’ needs. Like their cousins in banking, credit unions (CUs) long enjoyed a relaxed pace of technological change. It was all on their timetable. Not anymore. CUs Are Going Next-Gen.

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Survey Arizona Innovation Innovation Strategies 235

PYMNTS

JULY 29, 2019

This means CUs must be carefully attuned to member’s financial needs and the innovations they want most as CUs invest in new products and services aimed at improving the way members engage with their FIs. Artificial intelligence (AI) is another innovation quickly gaining ground in the CU market. Around the Credit Union World.

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Pennsylvania Analytics Maryland Innovation 173

Bank Innovation

FEBRUARY 18, 2020

The shares plunged by the most since 2017 after buybacks were shelved for two years and the executives themselves said more bad news was still to […]. Investors got what some called more of the same — pledges to cut costs and do more with less.

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Strategy Innovation Strategies Innovation 273

Bank Innovation

MARCH 13, 2020

In this episode, editors discuss the following news developments: How the stock market plummet is affecting robo-advisors; Wirecard expanding internationally through a partnership with the Estonian banking platform Xolo; and Amazon’s move to offer cashierless checkout to […].

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Marketing Customer Experience Innovation Strategies Video 259

Bank Innovation

NOVEMBER 27, 2019

In this episode, Suman Bhattacharyya, deputy editor, and Angely Mercado, associate editor, discuss the following news developments: How MoneyLion’s appointment of a chief operating officer will help fuel its growth plans; The debate among banks and […].

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Bank Innovation

FEBRUARY 14, 2020

In this episode, editors discuss the following news developments: The implications of banking startup Varo’s FDIC approval; How U.K. card startup Curve opened a New York City office in advance of its U.S. Welcome to the latest episode of our Weekly Wrap series, for the week ending Friday, Feb. launch; and Wells Fargo’s […].

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Bank Innovation

JANUARY 17, 2020

In this episode, editors discuss the following news developments: The overlap of retail with financial services, and reflections on the National Retail Federation annual conference in New York; Visa’s acquisition of Plaid and what it means […].

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Retail New York Video Conference 243

PYMNTS

JANUARY 14, 2021

The PYMNTS December Credit Union Tracker® , done with the help of PSCU, found that “digital-first approaches are … expected to remain a staple of credit unions’ operations as they craft their innovation strategies for the next year and beyond, especially as 88 percent of CUs surveyed in early 2020 said that they intended to focus more on technologies (..)

Innovation Strategies 155

Innovation Strategies Cards Analytics Survey 155

Bank Innovation

FEBRUARY 21, 2020

In this episode, editors discuss the following news developments: Implications from LendingClub’s acquisition of Radius Bank; How Ally’s acquisition of the non-prime lender CardWorks boosts the bank’s long-term plans; and The launch of digital banking startup Level […].

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Fintech Digital Banking Customer Experience Innovation Strategies 243

Bank Innovation

NOVEMBER 22, 2019

In this episode, Suman Bhattacharyya, deputy editor, and Angely Mercado, associate editor, discuss the following news developments: The expansion of The Clearing House’s RTP Network; How Facebook Pay can advance its e-commerce strategy; and How Green […].

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Video Strategy Payments Innovation Strategies 243

Bank Innovation

JANUARY 17, 2020

Kamezawa, 58, will take the top post on April 1, the Tokyo-based bank said in a statement on Friday, confirming news reports from earlier this week. […]. Mitsubishi UFJ Financial Group Inc. named Hironori Kamezawa as chief executive officer, turning to a math expert to help Japan’s biggest bank forge a path in the digital era.

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Groups Report Innovation Strategies Digital Strategies 221