Sat.Jun 16, 2018 - Fri.Jun 22, 2018

Walmart Wins Three Blockchain-Related Patents

PYMNTS

Walmart has been awarded three patents for blockchain-backed technology, according to a report Monday (June 18) in Cryptovest. One of the patents covers a system that would let households manage their electricity bills through cryptocurrency, and would be operated with a public blockchain. Currently, energy providers deliver energy to locations that inefficiently use the energy, which leads to increased energy costs for consumers,” the Walmart patent filing said.

Mezu trumpets privacy with new mobile P2P app

Mobile Payments Today

As consumers become more conscious about which companies they share sensitive information with, a Cleveland-based company has launched a mobile person-to-person app that adds a level of anonymity its co-founder and CEO believes is missing from the market

Redefining risk and compliance: IBM OpenPages with Watson

Insights on Business

IBM RegTech Innovations. With the launch of OpenPages with Watson v8 , IBM is continuing to build on its legacy of industry-leading technologies for the financial sector.

Cryptocurrencies Fail The BIS Test (bitcoinistas aren’t going to like this)

Chris Skinner

The Bank for International Settlements (BIS), the guys who are responsible for Basel regulations and act as the global central bank to all the central banks, caught global headlines yesterday by saying that bitcoin will break the internet. Wowser. I couldn’t ignore this and neither should you so here’s a … The post Cryptocurrencies Fail The BIS Test (bitcoinistas aren’t going to like this) appeared first on Chris Skinner's blog. Blockchain Future Grid

TRENDING: Why Cops Aren’t Well Served By Traditional FIs

PYMNTS

From planning for a worst-case scenario in the line of duty to buying new uniforms, law enforcement officers face financial stresses that aren’t always well-served by the typical civilian-focused bank. And with approximately 900,000 sworn officers active in the U.S.

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More Trending

Facebook Brings Subscription Service To Groups

PYMNTS

Facebook announced that it is testing out subscriptions with a small number of groups to support group admins who lead the communities. Group admins build safe and supportive communities that people come back to every day,” wrote Alex Deve, Product Director, Groups, at Facebook. “We We know that admins invest their time and energy to maintain their groups, and some have told us that they would like tools to help them continue to invest in their community and offer more to members.”.

Groups 156

KeyBank Acquires SMB Lending Tool Bolstr, Plans to Originate $2.5 Billion in Loans in 5 Years

Bank Innovation

For a long time, expensive underwriting kept banks away from small business lending. But not anymore. The most recent example of a bank taking note of this area is KeyBank’s acquisition of Bolstr’s SMB-focused digital lending platform, which it announced this week.

Tools 139

SIFMA Fintech Conference 2018

Insights on Business

Some important financial technologies are changing the way the world is doing business and that change is now reaching the securities industry.

Are consumers pushing back against the cashless trend?

Mobile Payments Today

Danny Meyer, Union Square Hospitality Group CEO, recently penned a blog post about why his restaurants will continue to go cashless. But is that really what consumers want

Trends 100

TRENDING: Turning Office Fridges Into Vending Machines

PYMNTS

Smart vending machines and self-service kiosks are becoming a sure sign of restaurant innovation – and, if recent developments are any indication, the space is undergoing a veritable unattended retail revolution.

Trends 169

Azlo Introduces Free Cross-Border Transactions in Mexico

Bank Innovation

PREMIUM – BBVA-backed Azlo has created a way for small business owners and gig economy workers to access the ACH payment network, which banks have traditionally monopolized. And now it will add cross-border payments to its offerings.

Online 139

How new banks differ to traditional banks

Chris Skinner

We know that there are lots of new bank start-ups out there, particularly in Europe where names like N26, Bunq, Fidor and Monzo stand out. In particular, the UK’s Monzo bank is notable. It is notable for a variety of reasons – the fastest crowdfunding of a new bank, the … The post How new banks differ to traditional banks appeared first on Chris Skinner's blog. Digital Bank Grid Innovation

How To Pick a Digital Solution Partner for Your Brand

Mobile Payments Today

Understand the key criteria you should consider when choosing a partner to launch your restaurant digital engagement program

PayPal Buys Simility In Second Buy This Week

PYMNTS

PayPal announced Thursday (June 21) that, following on the heels of its acquisition of Hyperwallet earlier this week, it is acquiring Simility , which is a fraud prevention and risk management platform. In a company blog post, PayPal said that — like with the acquisition of Hyperwallet and the others previously announced during the past 12 months — it is part of an effort to enhance and strengthen the suite of services it can provide so it can provide one-stop solutions for merchants. .

Tools 155

Support for Realtime Payments Increases Among Banks

Bank Innovation

PREMIUM – More U.S. banks are awaking to the idea that supporting realtime payments (RTP) could add value not just to their customers, but to their revenues.

Survey 155

The Amazonisation of Banking

Chris Skinner

Last week, our good friend Dave Birch posted a great blog about the Amazonisation of Banking, most of which I agreed with. So I asked Dave if I could repost it here and he said “yes, of course” Thanks Dave. Enjoy! The Amazonisation of Banking… …is very different from Amazon being … The post The Amazonisation of Banking appeared first on Chris Skinner's blog. Case Studies Digital Bank Grid Technology

South Africa G2P Transfers

Mobile Payments Today

South Africa is an advanced market with a higher level of financial inclusion than other middle income-countries in Sub-Saharan African

TRENDING: The Long-Term Consequences Of Account Takeovers

PYMNTS

In the quest to make payments smarter, speeding up transaction times isn’t always enough. Payments must also be made safe from fraud and other cybercrimes. .

Trends 141

PayPal Makes a Grab for Marketplace Payments with Hyperwallet Acquisition

Bank Innovation

PayPal made a strong move into the group payments space with the announcement it will purchase Hyperwallet for $400 million. The deal is expected to close in the fourth quarter.

Groups 155

The difference between FinTech and TechFin

Chris Skinner

There’s lots of friction around these days. Banks that get digital and banks that don’t; fintechs that want to change everything and fintechs that don’t; digital currencies to replace fiat currencies and fiat currencies that are going digital; destruction, disruption and disappointment; and more. It just shows the world of … The post The difference between FinTech and TechFin appeared first on Chris Skinner's blog. Digital Bank Fintech Grid

User Data - Your Restaurant's Secret Weapon

Mobile Payments Today

Learn why data is essential to your restaurant's customer engagement program and how to make it work for you

Data 100

Square Gets License From New York To Enable Bitcoin Trading

PYMNTS

Square , the payments company founded by Jack Dorsey, has received a license to enable residents in New York state to buy and sell bitcoin via its Cash App. In a press release , the New York State Department of Financial Services Superintendent Maria T. Vullo said the agency approved Square ‘s application for a virtual currency license. The payments company has a money-transmitter license from the Department of Financial Services (DFS).

INV Fintech Revamps Site and Launches New Community, INV Edge

Bank Innovation

INV Fintech, this site’s sister accelerator, announced today a comprehensive rebrand and the launch of an online community. INV’s brand has been completely reimagined with a new logo, color scheme, and website layout that realigns the brand with its profound passion for innovation.

Big Tech Firms Have A Plan…Do You?

Credit Union Geek

Originally published on CUInsight.com This post exceeds normal length expectations. Estimated reading time is 5-7 minutes. It’s worth it. The future of banking looks bright! New possibilities, new technologies, all while serving an ever-expanding portion of the population! Oh, you’re from a credit union. That introduction wasn’t meant for you. I was talking to the […]. The post Big Tech Firms Have A Plan…Do You? appeared first on Credit Union Geek.

Pret A Manger Hits 90-Day Customer Acquisition Goal in 36 Days with LevelUp

Mobile Payments Today

Discover how Pret A Manger increased orders per store, guest frequency and customer acquisition with the launch of their new Level-Up powered app and digital engagement program

100

US Supreme Court Gives The Green Light For Online Sales Taxes

PYMNTS

States can collect sales taxes from online retailers thanks to a U.S. Supreme Court ruling on Thursday (June 21) that addressed one of the most controversial and longstanding issues in eCommerce. The 5-4 decision essentially overturns the court’s 1992 ruling that states can collect sales taxes only from retailers that maintain a physical presence in those states. The 41 states that asked the Supreme Court to overturn that decision, Quill v.

Taxes 150

Finastra Gains Foothold Among Community Banks with Malauzai Acquisition

Bank Innovation

Finastra, which was formed from the union of Misys and D+H, and calls itself the world’s third largest fintech company in the world, has acquired American software company Malauzai in an attempt to strengthen its foothold in the American banking market.

Is Technology Sprawl Ruining Your Member Lending Experience? (Part 1 of 2)

CU Direct

How many systems, both digital and manual, do your members and employees have to navigate before booking a loan? The answer may surprise you, and provide some critical insight if your credit union isn’t meeting its loan growth goals. What is Technology Sprawl?

How sweetgreen Engages 50% of Customers Digitally

Mobile Payments Today

sweetgreen was one of the first fast-casual restaurants to launch an order ahead, payments, and loyalty app, built on the LevelUp platform. Read on for the results from their impressive customer engagement program

American Dream Miami Receives Approval From Florida Officials

PYMNTS

The 6.2 million-square-foot American Dream Miami — potentially the most expensive mall ever built — has received approval from officials in a Florida county. The project, which is being developed by Triple Five Worldwide Group of Companies , is estimated to come at a cost of $4 billion, The Wall Street Journal reported. While the project was originally slated to have 1.5 million square feet of entertainment and 3.5

Miami 156

Fifth Third Bank Strives to Make Cincinnati into the Next Fintech Hub

Bank Innovation

PREMIUM – Cincinnati, Ohio might seem like an unlikely place for fintech innovation to spur, but it has the ingredients to be just the right breeding ground.

Ohio 148

Wealthfront CEO Wants To Automate All Your Finances

CB Insights

Wealthfront wants to automate all of your finances and make it so effortless that you don’t have to worry about it. President & CEO Andy Rachleff discussed where he sees the company going and its unique role in the financial technology space at the CB Insights Future of Fintech conference.

Thawing the frozen middle (how to change the bank)

Chris Skinner

I sometimes think I’m too harsh on the financial community, with my continual banter about core systems change, lack of digital leadership, inability to see how critical digital is to their future and the impact FinTech is making on global financial structures. I sound like a broken record and rarely … The post Thawing the frozen middle (how to change the bank) appeared first on Chris Skinner's blog. Case Studies Digital Bank Grid Innovation

Tapping Digital Escrow To Build Big-Ticket eCommerce Trust

PYMNTS

Big-name eTailers like Amazon, eBay and Walmart have made it easier than ever to buy just about anything online. When it comes to shopping for big-ticket items like pre-used or new commercial vehicles, though, the online shopping process is anything but easy.

Online 158