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Activehours Raises $22 Million to Disrupt Payday Lenders, Nip Consumer Fees

Activehours Raises $22 Million to Disrupt Payday Lenders, Nip Consumer Fees

by January 17, 2017 at 2:20 pm 0 comments

Activehours has raised $22 million in debt and equity financing, bulking up its war chest to disrupt payday lenders and help consumers avoid finance charges on credit cards and overdraft fees on bank withdrawals. The Series A round was led by Matrix Partners with participation from March Capital Partners as wellRead More

New York Just Told the OCC to Stick It

New York Just Told the OCC to Stick It

by January 17, 2017 at 12:51 pm 0 comments

Turns out, not everyone is happy about the OCC’s decision to grant banking licenses to (suitable) fintechs. The New York State Department of Financial Services submitted a formal comment letter to the OCC today, saying that the latter, frankly, isn’t going to do the job of regulating fintechs — and isn’tRead More

We Actually Still Know Nothing About AI (But At Least We’re Trying)

We Actually Still Know Nothing About AI (But At Least We’re Trying)

by January 17, 2017 at 12:37 pm 0 comments

Thus far, the month of January has been an exciting time for AI — new smart technologies have demoed, new papers have been written, and new discussions about how to make sure our new synthetic friends don’t kill us have sprung up. According to Crunchbase’s annual Global Innovation Investment report,Read More

Banking and Fintech Could Benefit from More Diversity

Banking and Fintech Could Benefit from More Diversity

by January 13, 2017 at 1:45 pm 1 comment

It’s possible that if we did nothing, the problem will eventually work itself out, but if you look around most conferences these days, there are very few people of color. Banks and fintech companies offer a robust, growing segment of the economy – what will it take to convince peopleRead More

Wells Shows Largest Mobile User Growth Among 3 Largest Banks

Wells Shows Largest Mobile User Growth Among 3 Largest Banks

by January 13, 2017 at 11:28 am 1 comment

Three of the nation’s largest banks released their digital user stats this morning, and yes, the banking world is still racing to mobile. Wells Fargo, in particular, demonstrated strong growth both on yearly and quarterly basis, delivering on the CEO’s promise of “continued focus” on tech and digital, despite theRead More

Paymentwall ‘Postpones Indefinitely’ Its Iran Payments Effort

Paymentwall ‘Postpones Indefinitely’ Its Iran Payments Effort

by January 13, 2017 at 11:10 am 1 comment

Last April, Bank Innovation reported that Paymentwall, a San Francisco-based payments company, had enabled payments to one of the world’s most closed markets, Iran. This news came shortly after the announcement of the deal between the United States, European Union and Iran for Iran’s pledge to cease work on itsRead More

Digital Usage Blows Up at BofA, Wells

Digital Usage Blows Up at BofA, Wells

by January 13, 2017 at 10:55 am 1 comment

You might as well call them e-Bank of America and Wells Fargo Digital Bank. Both BofA and Wells, the No. 2 and No. 3 ranked banks in the U.S., respectively, today for the first time released usage numbers for their digital banking operations, and they are eyepopping. BofA got 112Read More

We’re Finally Using Our Phones More for Finance (and Less for Gaming)

We’re Finally Using Our Phones More for Finance (and Less for Gaming)

by January 13, 2017 at 9:37 am 1 comment

According to mobile analytics firm Flurry, overall mobile app usage grew 11% year-over-year, with the time spent on mobile business and finance apps growing 43%. Gaming apps, meanwhile, experienced a decline in usage—strange for the year that spawned the goliath Pokémon Go—with time-spent down by 4%. According to the data,Read More

Recent Grads Prefer Jobs at Goldman Sachs to Google

Recent Grads Prefer Jobs at Goldman Sachs to Google

by January 12, 2017 at 2:11 pm 1 comment

Goldman Sachs nudged Google aside and claimed the No. 1 spot for the most favorite workplace among a survey of 600 students globally, a new survey from Emolument.com reveals. McKinsey claimed the No. 3 spot. Goldman Sachs and other investment banks have been fretting that top undergrads prefer tech startupsRead More

Trend Watch: Personalization for Mobile Banking Success [SPONSORED]

Trend Watch: Personalization for Mobile Banking Success [SPONSORED]

by January 12, 2017 at 2:10 pm 1 comment

Customers have recently stepped into the era of personalized services with apps built around their specific wants and needs. After Amazon, Netflix and Google pioneered customization of their offerings based on visitors’ past transaction history, consumers have grown to expect the same tailored experience from all other providers. Banks alsoRead More