PYMNTS

JANUARY 20, 2020

There are a few common themes among big bank earnings reports. consumer is strong, and the ripple effects of strong U.S. consumer spending is carrying over to other areas where banks get their bread and butter. And, increasingly, digital conduits are gaining a share of consumer and commercial spending. In the U.S.,

Consumer 53

Consumer Online and Mobile Banking Debit Card Credit Cards 53

Fintech Labs Insights

NOVEMBER 10, 2023

Consumers have been banking online for 28 years. And from the very beginning, there have been pure-play digital banking startups. The first, online bank Security First Network Bank (SFNB) launched in 1995, just a year after Amazon.com. But unlike ecommerce, digital-only banking was slow to catch on.

NOV 15

NOV Consumer Online and Mobile Banking Small Business 15

PYMNTS

SEPTEMBER 26, 2018

Bank has debuted its online lending portal for small business borrowers, the financial institution announced on Tuesday (Sept. Following in the path of alternative and marketplace lenders, traditional banks are increasingly digitizing their financing offerings for small firms. The latest to do so is U.S. According to U.S.

Online and Mobile Banking 51

Online and Mobile Banking Small Business On-Demand Finance 51

PYMNTS

JULY 25, 2019

According to the report, The Evolution of New Account Fraud , produced by Javelin Strategy & Research , NAF tactics have shifted with the growing popularity of online accounts and payments. million consumers in 2018. One factor contributing to the rise is the mobile phone.

Accounts 59

Accounts Online and Mobile Banking Enrollments Issuers 59

PYMNTS

JANUARY 24, 2019

Regulatory oversight may have the impact of reducing some banks’ physical footprint abroad. banking giant Citi said it will reduce its physical presence in Russia – reducing office count, actually – but that business should in fact grow in 2019. At the same time, the average number of mobile customers was up 11 percent to 33.3

Online and Mobile Banking 43

Online and Mobile Banking Consumer Continuity Accounts 43

Fintech News

SEPTEMBER 10, 2024

trillion in consumer spending across channels in 2023. Project Nexus , for example, is led by the Bank for International Settlements (BIS) and aims to create a blueprint for connecting national instant payment systems to enable seamless cross-border payments. The super app approach is now reshaping retail and commerce.

Cross-Border Payments 107

Cross-Border Payments Cross-Border APACS Interoperability 107

PYMNTS

JULY 23, 2020

Open banking has been picking up steam in Latin America for more than two years. Regulators in Mexico passed a law governing FinTechs in March 2018, just two months after PSD2 went into effect in the European Union, and others in the region have since followed suit. Open Banking And Digital Readiness. the region.

Online and Mobile Banking 66

Online and Mobile Banking Regulations Laws Push-to-Card 66

PYMNTS

OCTOBER 21, 2019

Fiserv’s consumer trends survey, Expectations & Experiences, shows that the majority of loans over the past two years were done online, the company said on Monday (Oct. Almost two-thirds – 65 percent – of loan applicants since 2017 completed their applications partially or fully online, up from 56 percent in 2018.

Origination 40

Origination Online and Mobile Banking Real Time Payments On-Demand 40

PYMNTS

JUNE 9, 2020

The EU enacted open banking rules in 2018, inspiring regulators worldwide to reconsider how they were transacting funds or transmitting data. Mobile and online payments are also on the rise for this same reason. COVID-19 Exposes Online Payment Concerns. and the EU. Australia and Canada.

Privacy 52

Privacy Regulations Online and Mobile Banking CCPA 52

PYMNTS

JANUARY 2, 2019

While commercial card innovation certainly accelerated in 2018, progress can always continue. Morgan Managing Director and Head of Commercial Card Product Management Naney Pandit says should be a focus this year is in mobilizing the corporate card. But so far, mobile B2B payments have been slow to take off.

Commercial Card 84

Commercial Card Online and Mobile Banking Payer B2B 84

PYMNTS

JUNE 3, 2020

Brick-and-mortar branches shuttered as social distancing measures were enforced, and customers subsequently turned to mobile apps or websites to fulfill their banking needs rather than risking in-person visits. Online account openings have increased 14.5 Confronting Digital Banking Reality.

Online and Mobile Banking 52

Online and Mobile Banking Contactless Payments Volume Mobile Banking 52

PYMNTS

FEBRUARY 11, 2019

The youngest of the bridge millennials – those 30- to 40-year-olds who today represent the first generation of connected consumers with spending power – will be having their mid-life crises at the age of 50. Consumers won’t be walking up to a cashier after standing in a checkout line to swipe a card when they visit a store.

Online and Mobile Banking 78

Online and Mobile Banking Consumer Innovation Payments 78

CB Insights

JANUARY 5, 2021

In the past few years, the burgeoning popularity of digital banks has only underscored the severity of these problems, with upstarts like Chime and SoFi offering cheaper, faster, and more convenient banking experiences. . get the state of challenger banks report. First name. Company Name. Phone number. Source: PwC.

Online and Mobile Banking 98

Online and Mobile Banking Financial Inclusion Checks Federal Reserve 98

PYMNTS

DECEMBER 26, 2018

The following piece was written by Rob Eleveld, CEO of Whitepages Pro , as a contribution to our 2018 year-end eBook. . Payments 2018 was a year of accelerated disruption. The proliferation of these platforms has made it easy for money to be transferred among peers, consumers and businesses, both domestically and globally.

Verification 59

Verification Wire Transfer Online and Mobile Banking Cross-Border 59

CB Insights

MARCH 20, 2019

From e-commerce to software to payments, several companies with $1B+ valuations exited in 2018. Using CB Insights data, we identified the startups with a $1B+ valuation that exited in 2018. We’ve also covered 2018’s 14 European unicorns , 37 Chinese unicorns , and 55 US unicorns.). Meituan Dianping.

Online and Mobile Banking 70

Online and Mobile Banking Acquirers On-Demand Security 70

PYMNTS

APRIL 23, 2020

Crafting the seamlessness customers want means FIs are overhauling their digital infrastructures to enable access to fast, interactive and engaging banking experiences. More banks are therefore moving away from legacy core systems to embrace cloud-native architectures to power automation and meet the speed expected by consumers, securely.

Innovation 105

Innovation Security Automation Consumer 105

PYMNTS

APRIL 30, 2020

The coronavirus pandemic has consumers around the world turning to digital devices to access banking services. The new surge in demand is putting financial institutions’ (FIs’) online and mobile offerings to the test and allowing FIs to show off their digital investments and know-how to assure customers that they are in good hands.

Online and Mobile Banking 60

Online and Mobile Banking Debit Card Mobile Banking Adjustments 60

PYMNTS

SEPTEMBER 11, 2019

Make that leather wallet a mobile one, wielded on smartphones. As we noted in this space earlier in the summer, using apps to bank is markedly being embraced by the younger generation. As spotlighted in the Digital Banking Tracker , the global digital banking market is slated to grow by 16 percent, compounded annually.

Non-Bank 64

Non-Bank Online and Mobile Banking Authorization Regulations 64

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 9, 2019

Among the findings of the recent 2018 Diary of Consumer Payment Choice , produced through several of the U.S. Federal Reserve Banks, electronic payments are on the rise. consumers surveyed made more than half their payments with cards, at 54 percent of payments or 24 transactions.

Fed 56

Fed Debit Card Consumer Federal Reserve 56

The Fintech Times

SEPTEMBER 10, 2024

According to the World Bank , China’s GDP per capita now exceeds $12,700, making it the world’s second-largest economy by nominal GDP, just behind the US. In the financial services sector, major institutions such as China Construction Bank, the Industrial and Commercial Bank of China (ICBC), Bank of China and Ping An Insurance dominate.

FinTech 59

FinTech Online and Mobile Banking Digital Currency Central Bank 59

PYMNTS

JANUARY 15, 2020

Zelle peer-to-peer (P2P) payments increased 76 percent year-over-year in the fourth quarter of 2019, Bank of America said on Wednesday (Jan. During the quarter, consumers made 95 million payments worth $23.8 In its Q4 financial release , Bank of America also gave updates on its mobile and digital efforts.

Zelle 52

Zelle Online and Mobile Banking Debit Card P2P 52

PYMNTS

NOVEMBER 26, 2019

lost bank branches between 2012 and 2017, with rural areas feeling the brunt of the closures, according to research from the Federal Reserve released on Monday (Nov. Rural communities with lower incomes or a higher percentage of minorities saw the most closures, losing 1,553 bank branches in 794 counties, a decline of 14 percent.

Federal Reserve 83

Federal Reserve Online and Mobile Banking Small Business Fed 83

PYMNTS

NOVEMBER 2, 2020

“ Membership has its privileges ” was the nine-year ad campaign launched by American Express in 1987 to persuade consumers that it was worth it to pay an annual fee for one of its charge card products. A PYMNTS study of a census-balanced sample of 2,165 consumers conducted Oct. billion in the bank. Those are the 47 million U.S.

Consumer 98

Consumer Online and Mobile Banking Product Non-Bank 98

PYMNTS

APRIL 15, 2019

Coverage includes the tie-up of Rapyd and OCBC Bank for real-time payments for shoppers in Singapore as well as online retailers. FinTech provider Rapyd is teaming up with OCBC Bank to provide Singapore shoppers as well as eCommerce retailers with real-time bank payments, Rapyd said in an announcement.

RTP 43

RTP Online and Mobile Banking Point-of-Sale (POS) Real Time Payments 43

Clearly Payments

MARCH 18, 2024

In consumer finance, the way we pay for goods and services is changing rapidly. We’ll break down the numbers, analyze the demographics, and uncover the driving forces behind the choices consumers are making when it comes to how they pay. billion in 2018. Overall, 84% of adults in North America had a credit card in 2023.

Credit Cards 105

Credit Cards Federal Reserve FedNow Online and Mobile Banking 105

PYMNTS

MAY 8, 2020

consumers more frugal, but other individuals are still turning to retail therapy to cope with stresses. Shopping on mobile devices has increased 7.7 Purchasing cannot occupy consumers for long, however, and they are searching for other ways to stay entertained. Online Gambling Changes . reaching a value of $102.9

Online and Mobile Banking 70

Online and Mobile Banking ACH Regulations Laws 70

PYMNTS

JULY 24, 2020

Open banking is often associated with the European Union (EU) almost by default as the region pushes the envelope further on regulation than anywhere, partly to encourage — but also to keep up with — imaginative FinTech innovators going to market throughout the Eurozone. FinTechs Flourishing.

Online and Mobile Banking 67

Online and Mobile Banking Regs Regulations Cross-Border 67

PYMNTS

JUNE 10, 2020

The need to stay at home and minimize person-to-person contact during the COVID-19 pandemic has pushed mobile banking use into overdrive. Customers are unable or unwilling to visit bank branches, instead using apps to conduct their financial activities and generating an 85 percent rise in mobile banking activity in April.

Security 52

Security Online and Mobile Banking Enrollments Mobile Banking 52

PYMNTS

DECEMBER 16, 2019

Is there a better way to deal with online sales taxes ? And how will challenger banks fare in 2020? consumers who conduct most of their banking offline. 10B: Estimated online food delivery fees by 2023. consumers who most often access bank accounts online and via mobile.

Online and Mobile Banking 52

Online and Mobile Banking Small Business Mobile Banking Consumer 52

PYMNTS

FEBRUARY 4, 2020

In 2018, the Supreme Court struck down a 1992 law passed by Congress that made it illegal for most states to legalize sports betting within their borders. The decision opened the floodgates to legalized sports betting – both in-person and online – in the U.S.

Legal 53

Legal Online and Mobile Banking Verification Regulations 53

CB Insights

FEBRUARY 13, 2020

As businesses and consumers become more comfortable using credit cards online, the proportion of US commerce that takes place online has steadily increased over the last 20 years. Stripe really did come about because we were really appalled by how hard it was to charge for things online.” — John Collison.

Payment APIs and Integration 98

Payment APIs and Integration Online and Mobile Banking Payments Push-to-Card 98

PYMNTS

APRIL 3, 2018

How to bring mobile banking to the realm of the spoken word – beyond the mere recitation of account data, beyond call and response? Banking is, of course, about more than account balances. Banking is, of course, about more than account balances. The company was among the entrants to the 2018 Alexa Voice Challenge.

Mobile Banking 49

Mobile Banking Online and Mobile Banking Push-to-Card Use Case 49

Finovate

APRIL 18, 2024

Bankjoy, a digital banking provider for banks and credit unions, announced a partnership with Pinwheel this week. Bankjoy will help its more than 70 bank and credit union customers integrate Pinwheel’s digital deposit switching (DDS) solution, Pinwheel Prime.

Direct Deposit 59

Direct Deposit Accounts Credit Union Online and Mobile Banking 59

PYMNTS

JANUARY 12, 2020

It will integrate with the financial giant’s digital bank Marcus. Released January 8 th of this year, the Marcus app has been well-received so far by consumers. Prior to that time, the venerable Goldman Sachs was primarily an investment bank and trading house utilizing wholesale market funding since being founded in 1869.

Credit Cards 52

Credit Cards Consumer Finance Transactions 52

PYMNTS

MAY 28, 2020

The global financial space has been severely impacted by the ongoing COVID-19 pandemic, with social distancing and stay-at-home guidelines preventing customers from visiting bank branches to access the services they need. Developments From Around The World Of Digital-First Banking.

API 70

API Payment APIs and Integration Online and Mobile Banking Community Banks 70

PYMNTS

SEPTEMBER 4, 2018

Also, Samsung has a new plan to capture millennial consumer loyalty, there is new clarity at the Bank of England and a new scam hits home buyers. Amazon Increases Its Push To Capture Online Ad Dollars. Mobile Users To Rely On Biometrics Security By 2023. Mobile Users To Rely On Biometrics Security By 2023.

Scams 40

Scams Online and Mobile Banking Central Bank Verification 40