Fintech News

JULY 15, 2024

billion) in 2022, according to Thant Mam Hein, assistant manager of sustainability at uab bank. Reports also show that approximately 50% of Myanmar’s adult population had a bank account in 2020, reflecting growth in financial inclusion and creating new opportunities for businesses and individuals. trillion (US$3.8 trillion (US$3.8

FinTech 109

FinTech Online and Mobile Banking Financial Inclusion Payroll 109

PYMNTS

JANUARY 19, 2021

A new year has begun, but the pandemic continues to throw financial and operational curveballs at banks, businesses and their consumers regarding how they conduct daily tasks or routine payments. consumers now count themselves as “ debit-centric ” users, a sizable jump over the 33 percent who said the same about credit cards.

Debit Card 62

Debit Card Online and Mobile Banking Push-to-Card P2P 62

PYMNTS

JANUARY 4, 2018

Another year, another chance for mobile wallet players to convince consumers to give up their plastic cards and utilize the phone as a payments form factor. Despite there being some variety of “Pay” for every day of the week, none have garnered even a 10 percent usage rate among consumers. The most-used mobile wallet in the U.S.

Push-to-Card 43

Push-to-Card Online and Mobile Banking Mobile Payments Wire Transfer 43

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

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

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

JANUARY 18, 2019

Way back in the day (which, in 21st century digital economy terms, probably means a decade or so), smart and important people used to express well-informed skepticism about the prospect of selling clothes, cars and even groceries via online or mobile channels. That does not mean they are all millennial consumers.

Consumer 70

Consumer Online and Mobile Banking Process Transactions 70

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

Finovate

OCTOBER 4, 2024

Netherlands-based digital banking platform Plumery secured $3.3 The company plans to expand its sales and marketing efforts, bolster international partner management, and enhance its platform’s capabilities for SMEs, consumers, lenders, and microfinance companies. million in funding this week.

AI 64

AI Innovation Payment APIs and Integration Online and Mobile Banking 64

PYMNTS

JANUARY 13, 2020

consumer and the sea changes tied to commerce, eCommerce, lending and credit. For those watching the payments sphere, the tea leaves are there for the reading, tied to mobile and digital banking adoption, to outstanding balances on cards, and to auto loans and mortgages. Going Mobile. Tuesday (Jan. Looking at Credit.

Consumer 52

Consumer Online and Mobile Banking Zelle P2P 52

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

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

Finovate

SEPTEMBER 27, 2024

In addition to its funding announcement, Nmbr also reported that RBCx, the technology and innovation arm of Royal Bank of Canada, will serve as the company’s banking partner. This week, the Canadian fintech announced that it is helping Multitude Bank enhance its loan repayment processes to enable instant loan repayments.

Embedded Finance 64

Embedded Finance Finance Payroll Online and Mobile Banking 64

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

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

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

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 Automation Security 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

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

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

Finovate

MAY 29, 2024

Embedded finance and digital banking solutions provider Finotta has announced a strategic partnership with Constellation Digital Partners (Constellation). Embedded finance and digital banking solutions provider Finotta forged a strategic partnership with Constellation Digital Partners (Constellation).

Credit Union 59

Credit Union Online and Mobile Banking Embedded Finance Mobile Banking 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

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

FEBRUARY 25, 2020

Amazon was a three-year-old online bookstore that had recently launched its IPO with a stock price of around $20. with early adopters willing to pay high rates per minute to use a mobile device. It wasn’t until a few years into the 21st century that many people thought about mobile as the great disruption to the market.

Online and Mobile Banking 83

Online and Mobile Banking Payment APIs and Integration Automation Transactions 83

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

AUGUST 22, 2019

Banks are not just competing for customer engagement and retention — they are also vying for funding and resources as they overhaul their infrastructure and banking tools. The latest Digital Banking Tracker examines how legacy institutions stay competitive with challenger banks. Competition Can Lead to Innovation.

Online and Mobile Banking 66

Online and Mobile Banking Non-Bank Acquirers Fed 66

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 104

Cross-Border Payments Cross-Border APACS Interoperability 104

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

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