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New York vs OCC: Let’s Think of the Children

New York vs OCC: Let’s Think of the Children

by February 17, 2017 at 3:31 pm 0 comments

The Empire State really wants to be in charge of the fintech sandbox—and it wants the OCC out already. In his recent 2017 budget proposal, Governor Andrew Cuomo outlined a few changes that might be in store for New York State fintechs, particularly online lenders. These changes include expanding theRead More

Banking Apps Synced With Your Car, Next Up

Banking Apps Synced With Your Car, Next Up

by February 17, 2017 at 12:31 pm 0 comments

It has been a busy few months for IoT and in-car payments. IBM and Visa sealed a partnership to connect 20 billion devices by 2022, while Jaguar and Shell showcased fuel payments tech in the U.K.. Honda and (again) Visa had their take on in-car payments at CES 2017 lastRead More

Wells Fargo: More Mobile Users, Fewer Credit Cards

Wells Fargo: More Mobile Users, Fewer Credit Cards

by February 17, 2017 at 12:29 pm 0 comments

Wells Fargo’s mobile user numbers are higher than ever—but that’s not thanks to new activity by consumers. According to the retail banking numbers the banks released today for the month of January, its customers aren’t opening as many accounts—are, in fact, closing more of them—and aren’t applying for as manyRead More

VC Fintech Funding Shrinks in 2016, Especially for Early-Stage

VC Fintech Funding Shrinks in 2016, Especially for Early-Stage

by February 16, 2017 at 5:25 pm 0 comments

Venture capitalists were not buying it last year. Venture capital-backed fintech companies in the U.S. saw a drop in both deals and funding volume last year. Fintechs raised $5.5 billion across 422 deals, compared to $7.7 billion (and 459 deals) in 2015 – a 29% drop, according to the Global FintechRead More

Visa, IBM Partnership Is a Leap Forward for Cashless

Visa, IBM Partnership Is a Leap Forward for Cashless

by February 16, 2017 at 4:47 pm 1 comment

Behold, the rise of IoT—plus, the rise of the cashless economy? Visa, the payment processor responsible for over half of the world’s electronic transactions, will be integrating its credit card tokenization technology with Watson’s Internet of Things network. Watson is the crown jewel of IBM’s work in artificial intelligence, forRead More

Facebook Global Director to Talk Payment Partnerships at Bank Innovation

Facebook Global Director to Talk Payment Partnerships at Bank Innovation

by February 16, 2017 at 3:03 pm 0 comments

Kahina Van Dyke, global director of commerce & payment partnerships at Facebook, will be a featured speaker at Bank Innovation 2017, which takes place in San Jose on March 6-7. Van Dyke will participate in a fireside chat at the invitation-only event. Facebook has a market capitalization of $384.5 billion.Read More

Banks Build a New Standard for Cross-Border With SWIFT (And Not Blockchain)

Banks Build a New Standard for Cross-Border With SWIFT (And Not Blockchain)

by February 16, 2017 at 11:45 am 0 comments

Cross-border payments are getting an update—but banks are keeping blockchain in the blockchain labs. Instead of distributed ledger technology, banks like Citi, Wells Fargo, and BBVA, are looking to projects like SWIFT’s global payments innovation service — or gpi — which went live today, following its January launch. “If [theRead More

PeerStreet to Expand to Adjacent Markets As User Base Increases

PeerStreet to Expand to Adjacent Markets As User Base Increases

by February 16, 2017 at 11:30 am 0 comments

It seems like all the players in the marketplace lending space felt the cloud of uncertainty that surrounded the industry last year. Except for PeerStreet. The platform brings real estate to the marketplace lending space, opening up a previously inaccessible asset class to investors. Launched in November 2015, PeerStreet has beenRead More

Consumers Use Mobile Banking, Just Not for Money Transfers

Consumers Use Mobile Banking, Just Not for Money Transfers

by February 16, 2017 at 10:30 am 0 comments

Despite all the digital efforts from financial institutions, consumers still don’t make use of their in-app money transfer functions. According to the February Monkey Insights report released by Malauzai Software, 100% of active users on mobile check their balance, but only about 16% of them transfer money. Is that reallyRead More

A Guide to Genuine Innovation When Everyone Is ‘Innovating’

A Guide to Genuine Innovation When Everyone Is ‘Innovating’

by February 15, 2017 at 12:32 pm 0 comments

This bank created an innovation lab, and that bank is launching a fintech team. But this other bank just started a blockchain focus group, and everyone else is investing in tech. Gone are the days when banks could afford to be “conservative” with new product launches and tech projects, whichRead More