Fintech News

MARCH 6, 2024

Are digital first banks in Asia poised to lead a disruptive charge against well-entrenched, established commercial banks? In the traditional banking sphere globally, but especially true in Asia, there is a considerable proportion of unbanked and underbanked populations who lack complete or any access to banking services.

Online and Mobile Banking 135

Online and Mobile Banking Debit Card Non-Bank Push-to-Card 135

Fintech News

MAY 23, 2024

Confronted by shifting factors such as tech advancements, generative AI, high interest rates, increased institutional oversight, and evolving customer expectations — the best banks must adapt their business and operating models in 2024, including in Asia. CHINA #1 China Merchants Bank China Merchants Bank Co.,

Online and Mobile Banking 130

Online and Mobile Banking Treasury Non-Bank Finance 130

CB Insights

AUGUST 23, 2018

trillion in total assets, JPMorgan Chase is the largest bank in the US. Its retail bank, Chase, spans 61 million American households. Led by Chairman and CEO Jamie Dimon, the bank is undergoing a transformation, moving away from offline legacy systems and into the digital age. Live briefing: Consumer Banks in The Digital Age.

Consumer 76

Consumer Online and Mobile Banking Credit Cards Push-to-Card 76

PYMNTS

DECEMBER 6, 2019

In the fifth official study conducted by the Federal Reserve Banks of Atlanta, Boston, Richmond and San Francisco, the 2018 Diary of Consumer Payment Choice (DCPC) detailed the cash and non-cash payment behavior of U.S. adult consumers who are 18 years old and older. Consumers in the U.S. Consumers in the U.S.

Fed 40

Fed Federal Reserve Volume Non-Bank 40

PYMNTS

OCTOBER 16, 2018

Goldman Sachs booked a 4 percent year-over-year revenue increase for the third quarter of 2018, with that growth powered in part by increased lending through its Marcus by Goldman Sachs online consumer savings and lending platform. Q3 revenue for the investment bank hit $8.65 billion, above the Refinitiv analyst estimate of $8.4

Non-Bank 59

Non-Bank Credit Cards Consumer Product 59

PYMNTS

FEBRUARY 14, 2018

Reuters, citing the Federal Reserve Bank of New York, reported that household debt for the U.S. On a year-over-year basis, the household debt of Americans was $402 billion higher than the fourth quarter of 2016. For November , the Federal Reserve reported that outstanding consumer credit rose by $27.95 percent from 2.4

Federal Reserve 44

Federal Reserve Non-Bank Adjustments Credit Cards 44

PYMNTS

JULY 10, 2019

China has been hands-off with African startups and corporations in the past, the report noted, but the acquisition of OPay parent company Opera in 2016 by Chinese investor and current CEO Yahui Zhou provided a new opportunity to Chinese venture capital firms looking to invest in African tech.

Mobile Payments 70

Mobile Payments Payments Venmo Non-Bank 70

PYMNTS

NOVEMBER 27, 2018

Climbing interest rates are taking their toll on the number of consumers in the market for new home mortgages. They’re also taking their toll on the non-bank mortgage lenders that proliferated in the good old days of zero or near-zero interest rates, compliments of the Federal Reserve. according to industry rankings. .”

Non-Bank 46

Non-Bank Underwriting Federal Reserve Origination 46

PYMNTS

JANUARY 9, 2020

The country’s P2P industry, although just a small portion of overall lending, is nevertheless a compelling credit source for businesses and consumers that can’t obtain loans through China’s traditional banking system. Stronger regulatory rules compelled P2P services to plunge to 343 last year compared to 2,680 in 2016.

P2P 52

P2P Shutdown Non-Bank Regulations 52

PYMNTS

OCTOBER 6, 2017

At least, that’s the case in England anyway, with Bank of England ’s (BOE) Chief Cashier Victoria Cleland adamantly stating that “cash is not in decline.”. 5, continuing the argument that, despite the fact that non-cash purchases and transactions are on the rise in the U.K., Very notable in the U.K. pounds at all.

Non-Bank 48

Non-Bank Digital Payments Bitcoin Cryptocurrency 48

Stax

JULY 16, 2024

Consumers are increasingly opting for debit and credit cards or other digital payment methods—for in-store and eCommerce purchases alike. A study by the Pew Research Centre found that in 2022, 41% of consumers didn’t use cash for weekly purchases of essentials like groceries and gas. The writing on the wall is clear.

PCI DSS 88

PCI DSS Compliance Credit Cards Encryption 88

Fintech News

JUNE 10, 2024

After graduating in 2016, he joined Aoie Corporation, a company founded by a classmate, where he played a key role in launching the bathhouse business and later became director and CFO, overseeing back-office and financial operations. Agarwal began his entrepreneurial journey at the age of 16, creating his first micro SaaS Android app.

FinTech 125

FinTech Non-Bank Finance AI 125

PYMNTS

NOVEMBER 30, 2019

billion in 2016 from $9.3 Connected devices make shopping part of the everyday consumer experience. After the microprocessor was launched into mainstream consumer society in the 1970s, things changed for a host of industries, including gaming. The newest version of Monopoly is called “Monopoly Voice Banking.”

Non-Bank 84

Non-Bank Online and Mobile Banking Research Consumer 84

PYMNTS

DECEMBER 30, 2019

Small businesses continue to flock to online platforms to find much-needed financing, with banks still failing to fill the demand for small to medium-sized business (SMB) loans despite economic growth in the U.S. Data from Opportunity Fund, which analyzed 150 online SMB loan contracts signed before 2016, found the average rate was 94 percent.

Federal Reserve 52

Federal Reserve Small Business Non-Bank PayPal 52

PYMNTS

MAY 4, 2018

Jimmy Chen worked at Facebook until he left about four years ago to launch Brooklyn-based Propel, which released the app in 2016. Not only do low-income consumers often have to eat whatever food might remain when benefits temporarily expire, but crime tends to increase around that time in neighborhoods that depend on SNAP, he said.

Consumer 40

Consumer Debit Card On-Demand Non-Bank 40

PYMNTS

APRIL 12, 2019

Nonbank lending – also known as “ shadow banking ” – has seen its assets hit $52 trillion, despite the fact that the sector poses significant risks. By comparison, traditional bank assets had a 35 percent boost to reach $148 trillion during that same period. trillion shadow banking industry is actually on the decline.

Non-Bank 49

Non-Bank Risk Regulations Returns 49

PYMNTS

DECEMBER 29, 2016

There seems to be no shortage of action in the corporate banking space, whether it be scandals (like Royal Bank of Scotland’s Global Restructuring Group fiasco ), cyberattacks (such as the $81 million stolen from the central bank of Bangladesh) or anomalies like Brexit impacting top financial institutions across the globe.

FinTech 72

FinTech Security Cybersecurity Non-Bank 72

PYMNTS

JULY 7, 2019

Michael Sherwood, who left his position as vice chairman of Goldman Sachs in late 2016 after more than three decades with the company, is joining Revolut as a non-executive director next week. Sherwood is one of several high-profile people from the banking and financial services industry being added to the board.

Financial Inclusion 49

Financial Inclusion Non-Bank FinTech Accounts 49

PYMNTS

FEBRUARY 27, 2018

Today in PYMNTS data, businesses spend trillions on travel without knowing where the money goes, Nigeria’s digital identity program will cost millions more than expected and artificial intelligence (AI)-powered chatbots are changing how consumers interact with banks. Here are the numbers: $1.15 Here are the numbers: $1.15

AI 44

AI Non-Bank Agreements Transactions 44

PYMNTS

APRIL 17, 2018

Interest rates plummeted as the Fed held the federal funds rate at zero in the hopes of stimulating lending in an environment where credit went from dangerously free-flowing to dangerously non-existent in the span of a few months. So back to normal, more or less, for consumers? economy. Today, unemployment is at a historic low of 4.1

Non-Bank 55

Non-Bank Finance Risk Fed 55

PYMNTS

NOVEMBER 29, 2016

To attend this live digital discussion on Thursday, December 8, 2016 at 1:00 PM (EST), please complete the registration form shown below: [contact-form-7]. To cope, consumers are using alternative sources to meet their financial needs – instead of turning to their banks. Digital Discussion Presenters: David Pommerehn.

Non-Bank 57

Non-Bank Small Business Regulations Innovation 57

PYMNTS

DECEMBER 17, 2018

Use of alternative finance (AltFin) sources among small business (SMB) owners is on the rise, but still has a long way to go before it poses a legitimate threat to traditional banks’ market dominance. “It can be a hugely time-consuming exercise researching all the traditional and alternative financing solutions on the market.”

Small Business 78

Small Business Finance Non-Bank Assessments 78

PYMNTS

SEPTEMBER 25, 2018

A report by the Bank for International Settlements (BIS) found that when it comes to credit done through nascent technological platforms, boons and risks are afoot. Beyond that, volume has exploded, with $284 billion extended in 2016 compared to $11 billion in 2013.

Risk 68

Risk FinTech Non-Bank Volume 68

PYMNTS

OCTOBER 1, 2018

The DOJ investigation centered on whether LendingClub had – between January 2009 to September 2010 – misled its FDIC-insured loan originator, WebBank , leading the bank to underwrite over 200 loans that did not conform to the bank’s lending requirements. Those effects, however, were short-lived.

P2P 54

P2P Origination Underwriting Returns 54

PYMNTS

SEPTEMBER 26, 2016

That’s according to Capgemini and BNP Paribas, which recently released new research through the 2016 World Payments Report (WPR). As a result, the call for banks to keep pace continues. More banks have begun to recognize the need to buy into the digital-first frame of mind in order to produce digital offerings.

Payments 73

Payments Fraud Detection Non-Bank Volume 73

PYMNTS

AUGUST 23, 2018

Customers of National Australia Bank (NAB) and American Express became the targets of a recent phishing scam spree in Australia, according to MailGuard reports this week. The false login page prompts victims to enter their user ID and password, enabling attackers to steal credentials and bank card details.

Phishing 40

Phishing Scams Non-Bank Cybersecurity 40

PYMNTS

DECEMBER 10, 2016

The consumer credit market has huge potential — trillions and trillions of dollars — and I wanted to ride that winner. Lending Club’s model does not need bank branches on each street corner, and it can turn around in minutes and hours, not days. banks at the time. It looked from the outset like 2016 might be a rough year.

Non-Bank 73

Non-Bank Compliance Push-to-Card Origination 73

PYMNTS

JULY 26, 2017

Treasury’s Office of the Comptroller of the Currency (OCC) has again released its report on top risks facing banks, with its Spring 2017 analysis warning FIs that threats are coming from all angles. The federal banking system is, and should be, a source of strength for the nation and its economy. Shifts in Lending Practices.

OCC 46

OCC Office of the Comptroller of the Currency Money Laundering Non-Bank 46

CB Insights

DECEMBER 4, 2019

If Amazon can get you lower-debt payments or give you a bank account, you’ll buy more stuff on Amazon.”. Based on our findings, it’s hard to claim that Amazon is building the next-generation bank. In aggregate, these product development and investment decisions reveal that Amazon isn’t building a traditional bank that serves everyone.

Online and Mobile Banking 101

Online and Mobile Banking Push-to-Card Payment APIs and Integration Non-Bank 101

PYMNTS

SEPTEMBER 4, 2017

1) and sent to PYMNTS, found that two-thirds of the 2,000 consumers surveyed in the U.K. Unsurprisingly, millennial consumers are driving this trend. Visa found that three-quarters of shoppers age 18 to 35 have made a contactless payment, 11 percent more than in 2016. ten years ago was a watershed moment for consumers.

Contactless Payments 54

Contactless Payments Online and Mobile Banking Payments Payer 54

PYMNTS

MAY 30, 2018

Financing of all sorts was on the downswing, and SMB owners began dipping into their own piggy banks before seeking a lending agreement. That finding comes care of data gathered by 12 regional Federal Reserve banks in a survey conducted over the third and fourth quarter of 2017. In the 10 years following the financial crisis, the U.S.

Underwriting 46

Underwriting Small Business Federal Reserve Community Banks 46

PYMNTS

AUGUST 1, 2018

The proposed changes include moving the collection and storage of small business lending data, required under the Dodd-Frank Act , from the Consumer Financial Protection Bureau (CFPB) to the Office of Financial Research (OFR). She noted that the risks of bad actors should be considered as part of the reforms made. In addition, U.S.

Small Business 40

Small Business Consumer Financial Protection Bureau (CFPB) Office of the Comptroller of the Currency CFPB 40

PYMNTS

MARCH 10, 2017

A new report by the Australian Securities and Investment Commission (ASIC) and the Australian Small Business and Family Enterprise Ombudsman (ASBFEO) suggests the nation’s largest banks aren’t complying with rules to protect small business borrowers. I’m gob-smacked really,” said ASBFEO’s Kate Carnell in a statement.

Regulations 40

Regulations Small Business Non-Bank Rules 40

PYMNTS

JANUARY 23, 2018

Superior Press , a treasury management solution provider for commercial banks, is acting on that need. Steve Traut, co-owner and SVP of Sales at Superior Press , recently spoke with PYMNTS about why the company is helping banks stay up to date with technologies to help manage paper check volume, despite ongoing talk of its eventual demise.

Remote Deposit Capture 43

Remote Deposit Capture Checks Same Day ACH ACH 43

FICO

JUNE 18, 2018

Are we making the progress we want to see — and regulators demand — on non-performing loans (NPL)? That’s the topic I explored with banking leaders from across the Europe, Middle East and Africa at our EMEA Risk Leadership Summit in May. European banks have set NPL target rates and plans to achieve these. NPL Divides Europe.

Blocks 63

Blocks Non-Bank Risk Volume 63

FICO

DECEMBER 4, 2017

As the proud winner of my local fantasy league’s 2016 trophy (pictured above), I’m keenly focused on gearing up for my 2017 playoff run. Seeing the flutter of sawbucks gave me a flashback to one of my first payments memories, from the early 1980s, when the Connecticut Bank and Trust Co. No, CBT’s Barney wasn’t a purple dinosaur.

Mobile Payments 64

Mobile Payments Zelle Online and Mobile Banking ATM 64

Fintech News

MARCH 18, 2024

The report, released in September 2023, looks at the Thai fintech sector, highlighting the rise of digital payments and the explosive growth of real-time transactions, as well as presenting the opportunities that exist in digital remittances, open banking, business-to-business (B2B) payments and agricultural lending.

FinTech 105

FinTech Online and Mobile Banking Blockchain Product 105