US Bank eyes ‘autonomous banking’ future

Bank Innovation

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Report: US Median Income Up, Poverty Rate Down In 2019

PYMNTS

Prior to the COVID-19 pandemic that struck earlier this year, U.S. Median household income in the U.S. increased by nearly 7 percent last year to $68,700, up from $64,324 in 2018 while the number of people living in poverty fell, the U.S. percent, the U.S.

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TravelBank, U.S. Bank Team On Virtual Cards, Expense Management

PYMNTS

TravelBank will work with U.S. Bank in order to integrate the former’s travel and expense management platform with the latter’s U.S. Tory Passons, vice president of Commercial Card at U.S.

U.S. Bank ties expense report management to virtual cards

Payments Source

Digital banking Fintech U.S. The bank worked with TravelBank, a fintech, to offer virtual cards and an app that automatically generates expense reports. Bank Expense management software Virtual assistants Digital Banking 2020

US Bank deploys smart assistant to boost digital banking

Mobile Payments Today

US Bank is deploying natural language processing and AI-based technology to move more of its retail banking business onto the mobile banking app

US Retailers Added 249,000 Jobs In August

PYMNTS

Also last week, the U.S. In August and September, Amazon said it will hire 20,000 people in seven cities in the U.S. Last Friday’s (Sept. 4) jobs report brought good news to the nation’s retail sector as it added nearly one quarter of a million jobs in August.

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U.S. Bank Announces Amazon Alexa Integration

Bank Innovation

EXCLUSIVE- U.S. The Minneapolis-based bank ran an employee pilot over the summer and initiated work on the Alexa skill earlier in 2017, said Gareth Gaston, executive vice president and head of omnichannel banking at U.S. […]. Exclusive Innovations Mobile Retail Security Social Media Alexa amazon chatbot US Bank voice bankingBank has become part of a select group – banks that allow customers to access their accounts via voive with Amazon Alexa.

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US Moves To Curb Pirated eCommerce Goods

PYMNTS

The U.S. The combined effort by U.S. The U.S., eCommerce Amazon china counterfeit Department of Homeland Security ecommerce enforcement knockoffs News us What's Hot

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Facing pressure, HSBC rethinks US strategy

Bank Innovation

trillion in assets, is blazing a new path for its U.S. HSBC, a global bank with $2.7 business as it cuts $4.5 billion in costs and reallocates capital away from underperforming units.

HSBC to focus on tech in U.S. branch expansion plans

Bank Innovation

trillion in assets, is making technology a core component of U.S. The bank today announced the opening a new location in Cupertino, California, along with 50 planned new branches in the U.S. Artificial Intelligence Daily Post 1 Exclusive Premium Retail Banking Wealth Management branches HSBC pepper Robotics US Bank Wells FargoHSBC, a top global bank with $2.6 branch expansion plans.

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US consumers reluctant to embrace contactless payments

Bank Innovation

While U.S. The study queried 350 merchants and 1,350 consumers in the U.S.

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US Treasury Tells Banks To Treat Hemp Businesses Like Any Other

PYMNTS

In updated rules from the Financial Crimes Enforcement Network ( FinCEN ), the U.S. Retail AML Banks financial regulation FinCEN hemp know your customers Marijuana News Regulator US Treasury What's Hot

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COVID-19 driving US consumer behavior in touchless payments

Accenture

The post COVID-19 driving US consumer behavior in touchless payments appeared first on Accenture Banking Blog. What drives change in an industry? Businesses? Consumers? Government regulations?

US Bans Chinese Facial Recognition Tech

PYMNTS

A Chinese company that develops facial recognition technology could be facing a ban in the U.S. As a result, the United Stated has banned government agencies from buying Hikvision products, and now there are rumblings that the company might be facing a ban on on importing U.S.-made

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Will ‘Zombie Companies’ Eat The US Economy?

PYMNTS

Will so-called “zombie companies” soon do the same to parts of the U.S. In an age where U.S. Non-financial corporate debt was already high even before COVID-19, equating to nearly half of U.S. But they’ll keep piling debt on top of debt as they play a waiting game, hoping for a U.S. Still, Deutsche Bank Chief Economist Torsten Slok recently told Bloomberg that the Fed and the U.S.

How the U.S. postal service could live on as a payments hub

Payments Source

The 2020 election has tossed the U.S. Compliance U.S. Postal Service under extreme scrutiny, pressuring the institution at a time when it has become a potential catalyst for financial inclusion. Digital payments Financial inclusion Bill pay Cash

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US Consumer Sentiment Looks Uncertain As Holiday-Shopping Season Approaches

PYMNTS

But that’s not how things have played out half a year on, and the majority of U.S. As the pandemic grinds on and becomes a permanent-feeling feature of day-to-day life, U.S. But no matter what the cause, it’s pretty clear as we inch toward the holiday-shopping season that U.S.

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US Chamber Warns Of Virus Lawsuits In Businesses Reopening

PYMNTS

The U.S. Coronavirus businesses COVID-19 Lawsuits News u.s.

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Massive cyberattack on the US wholesale payments system (simulation but real?)

Chris Skinner

One report you may have missed was this one: CyberRisk and the U.S. Financial System: A Pre-Mortem Analysis from The New York Fed and released in January.

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ByteDance, US Talk TikTok Sale Alternatives

PYMNTS

Amid an upcoming deadline for TikTok to consent to selling its U.S. The news comes as a possible deal for the U.S.

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U.S. Bank: How Legacy Systems Impede Open Banking Adoption

PYMNTS

Application programming interfaces (APIs) and open banking are being harnessed to face these obstacles in turn, but their implementation has been slow in much of the world, including the U.S. In the July B2B API Tracker® , PYMNTS explores the latest developments in the B2B API space, including new open banking initiatives in the U.S. US Bank on the Challenges Impeding Open Banking Adoption for B2B Payments.

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US Retail Sales Rose 0.6 Pct In August, Short Of 1 Pct Prediction

PYMNTS

16) by the U.S. The new economic numbers provide an early estimate of monthly sales across various types of U.S. This week, a PYMNTS survey found that six in 10 U.S. The U.S. As U.S. Retail Consumer Spending News sales U.S.

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US Banks Keep Expectations Low Amid Tepid Interest Rates

PYMNTS

According to recent projections by the U.S. banks aren’t fooling themselves — they’re likely in for a long stretch of low interest rates putting a burden on their profits, the Financial Times (FT) reports.

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US Banks Shun Money Transmittal

PYMNTS

According to a report in The New York Times , while Mexico is the largest destination for money transfers from the U.S., billion was sent from the U.S. It also means limited options for those living in the U.S. The paper, citing the Conference of State Bank Supervisors, noted that more than a quarter of U.S. banks are keeping their distance from money transmitters sending cash to Mexico, as worries about money laundering and increased regulatory scrutiny ensue.

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How US Carves Its Own Path To Open Banking

PYMNTS

While open banking frameworks and initiatives have slowly trickled throughout the U.S. Speaking with PYMNTS, Scott Purcell , CEO of financial institution (FI) Prime Trust , described the factors opening up the door to open banking in the U.S., Indeed, many FIs in the U.S.

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US Bank On Improving B2B Payments Via Open Banking

PYMNTS

More than $25 trillion flows between U.S. Open banking integrates solutions into a seamless experience for business-to-business clients, and they can then use however many providers or solutions they would like rather than necessarily being married to one,” said Gareth Gaston, executive vice president and head of digital platforms at U.S. The U.S. Countries around the world — including the U.S.

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Powell: US SMBs Need 'Direct Fiscal Support' Not Loans

PYMNTS

Federal Reserve chairman Jerome Powell is set to tell lawmakers that U.S. The pandemic, after roughly six months strong in the U.S., small businesses may need “direct fiscal support,” rather than more loans, the Financial Times (FT) reported.

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US Bank launches API portal for third-party developers

Bank Innovation

Bank launched a suite of API tools this week to support third-party app developers in their efforts to build services that can securely connect to U.S. In an apparent shift from the traditional, walled-garden approach of large banks, U.S. Carousel Innovation Strategy Product Design Retail Banking Startups api developers Plaid US Bank

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U.S. Bank Wants To Remove Passwords From Login in 2017

Bank Innovation

Biometrics and behavioral analytics are taking over banking apps for good, and U.S. Corporate Operations Technology authentication behavioral analytics cybersecurity US BankCustomer authentication processes at banks have evolved from mere security questions and “date-of-birth” kind of passwords. Bank, recognizing that, has set a target: removing passwords “altogether” from the login process in 2017, according to Jason Witty, the Read More.

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UK card startup Curve sets up US shop

Bank Innovation

aiming to extend its products to a select group of U.S. based payments consolidation startup Curve has officially opened its first North American office in Brooklyn, N.Y., customers by the end of this year. ? Curve plans to invest $17 million in research and development in the next decade.

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Europe as a model for US payment security

Mobile Payments Today

Efforts by European regulators to provide stronger authentication could serve as a model for payments in the U.S., as multi-factor authentication is already available in mobile wallets like Apple Pay

Fed Data: The U.S. Economy Is Reopening, But Not Rebounding

PYMNTS

Yes, the U.S. For now, the Federal Reserve Beige Book released on Wednesday (May 27) found that U.S. The Beige Book, in which the Fed surveys businesses about conditions across the country, found that declines continue to be entrenched despite a gradual reopening of at least some U.S.

German payments giant Wirecard targets US with new app

Bank Innovation

Wirecard, a Germany-based payments firm that works with brands and retailers, recently launched its first U.S. contactless payment Europe mobile application U.S. mobile application in an effort to expand its reach across the Atlantic. The 20-year-old publicly-traded company, which recently reported consolidated revenues of $1.3 billion for the first half of this year, processed more than $6 billion in transactions during that […].

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N26 crosses 250,000 US customers, grows product suite

Bank Innovation

Berlin-based digital banking startup N26 has 250,000 U.S. The company, which launched in the U.S. What’s made us successful is that we’ve had a number of years globally to figure out what design, usability and overall customer approach […].

US 227

US Bank’s White: Digital banking is now more than DIY

Bank Innovation

It’s a reality for which U.S. Carousel Innovation Strategy Product Design Retail Banking Sales & Marketing BNY Mellon innovation strategy Mobile banking US BankAs digital banking goes mainstream, banks are recognizing that a mobile app that lets customers carry out day-to-day tasks isn’t enough. Bank has been preparing, especially as it reports that 72% of its customers are considered “digital-active” and 50% are using mobile channels.

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