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The Distributed Application Software Stack

by December 17, 2014 at 5:18 pm 0 comments

Eris Industries has launched today the first components of its distributed software stack. Congratulations to the amazing team behind Eris on this first step, its the beginning of an incredible journey. I am not going go over technical details on Eris (read https://decerver.io/ and https://thelonious.io/ to start), you can findRead More

Mint Finally Adds Bill Pay — in a Separate App

Mint Finally Adds Bill Pay — in a Separate App

by December 17, 2014 at 4:09 pm 0 comments

Mint announced yesterday that its app had been updated and that it had added bill pay. In a separate app. You may recognize the new app, called Mint Bills, because it is better known as Check, formerly PageOnce. Intuit, which bought Mint for $170 million in 2009, bought Check forRead More

GoBank Removes Starter Kit Requirement

GoBank Removes Starter Kit Requirement

by December 17, 2014 at 10:14 am 2 comments

GoBank is removing some friction from its onboarding process.

PayPal, Square and Stripe – the disrupters who might be disrupted by Bitcoin

by December 17, 2014 at 1:57 am 1 comment

Both Square and Stripe are in the WSJ Billion Dollar Club (but that may not mean as much when you look below the surface). eBay will be spinning off PayPal, so we will soon see how good it is as a standalone public company (or if it gets acquired weRead More

US Bank to Add Swipe-for-Balance, Beacon Support in 2015

US Bank to Add Swipe-for-Balance, Beacon Support in 2015

by December 16, 2014 at 11:42 am 1 comment

Major changes are in store for US Bank’s mobile app in 2015. Niti Badarinath, senior vice president and head of mobile banking and payments, told Bank Innovation Monday that the bank would continue to push the envelope in imaging, as well as invest in beacon technology to personalize the banking experience.Read More

ShopKeep's NFC reader, which is being given to merchants for free

Will NFC Keep Square from Profitability?

by December 16, 2014 at 10:34 am 1 comment

Yes, Square has finally gotten NFC religion. Jack Dorsey, Square’s founder, disclosed in an interview with The New York Times a few days ago that, indeed, Square will unveil NFC functionality, although he offered no release date. Dorsey said only that, “We have committed to making sure our sellers areRead More

The Next Lending Club? Try Startups using Blockchain today

by December 16, 2014 at 1:05 am 0 comments

The Lending Club “overnight sensation” (which puts Fintech on the front page)  took 7 years. They were founded in 2007 This is about par for the course for a high velocity startup (check out the founding dates for Uber and AirBnB for example, founded just slightly later and now in lineRead More

Financial Education Site Phroogal to Launch 1.0 Version This Month

Financial Education Site Phroogal to Launch 1.0 Version This Month

by December 15, 2014 at 10:55 am 1 comment

The financial education portal Phroogal has spent the last year in beta and will launch in late 2014, co-founder Jason Vitug told Bank Innovation this weekend. Phroogal, a New Jersey-based social platform for millennials to share financial questions and answers, now counts more than 10,000 registered users and has 14,000 answers posted — all with zero marketing outlay.

The Growing Network of Fintech Accelerators Globally

by December 14, 2014 at 10:35 pm 0 comments

It’s a good time to be raising money in Fintech. All the major VC Funds are making Fintech bets, there is good activity on Angel List, there are Fintech specific funds and there are Fintech specific networking groups. Many Accelerators are domain agnostic. I have already reviewed the Fintech output from Y Combinator, which is…Read more The Growing Network of Fintech Accelerators Globally

Who is Operation Choke Point Really Choking?

Who is Operation Choke Point Really Choking?

by December 12, 2014 at 1:18 pm 1 comment

Operation Choke Point is a coordinated effort by the Department of Justice (DOJ) in conjunction with the Federal Trade Commission (FTC) and the Federal Deposit Insurance Corporation (FDIC) to hold financial institutions and their payment processor partners responsible for allegedly illegal acts committed by merchants and other third-party payees.

DEMOvation Challenge Kicks Off, Offers Free Demo Slots to Startups

DEMOvation Challenge Kicks Off, Offers Free Demo Slots to Startups

by December 12, 2014 at 10:07 am 1 comment

The DEMOvation Challenge is Back. After a successful launch in 2014, Bank Innovation 2015, on March 2-3 in Seattle will once again host an exclusive DEMOvation session. The DEMOvation session will kick-off Day Two of the conference, which brings together FinTech mavens with innovative bankers for a series of in-depth discussions.