Articles by: JJ Hornblass

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

Fiserv, SapientNitro, Kasisto Sponsor Bank Innovation ’17

Fiserv, SapientNitro, Kasisto Sponsor Bank Innovation ’17

by December 6, 2016 at 5:47 pm 1 comment

Fiserv, a leading banking technology company, has signed on as the headline Diamond sponsor of Bank Innovation 2017. Bank Innovation 2017 is this blog’s annual gathering on ideas and opportunities in fintech. The sixth annual Bank Innovation will take place March 6-7 in Silicon Valley, at the Glasshouse in SanRead More

For Aggregation Service, Lloyds May Use PSD2

For Aggregation Service, Lloyds May Use PSD2

by December 6, 2016 at 2:00 pm 0 comments

Regulation — yes, regulation — appears to pushing European banks to innovation, but perhaps not in ways anticipated by regulators. Lloyds Banking Group is considering an account aggregation service that would allow its consumers to pull in data from other financial institutions. While the plans appear to be at theRead More

Users Hit 65K Mark at U.K.’s Monzo

Users Hit 65K Mark at U.K.’s Monzo

by November 8, 2016 at 5:13 pm 0 comments

LONDON — British challenger bank Monzo‘s new customer acquisition rate appears to be hockey-sticking. Tom Blomfield, co-founder of the new bank, told Bank Innovation today here that Monzo’s weekly — yes, weekly — debit-card customer growth rate hit 8.7% last month. Blomfield said Monzo, known as Mondo until August, nowRead More

PSD2 Could End Up Being a Boon to — Yikes! — Banks

PSD2 Could End Up Being a Boon to — Yikes! — Banks

by November 8, 2016 at 4:19 pm 0 comments

TEL AVIV — A much-maligned European Union banking regulation may have some unexpected, positive consequences. The Second Payment Services Directive, known as PSD2, will require EU banks to open the EU payment market to companies offering consumer or business-oriented payment services based on the access to information about the paymentRead More

PayKey Wins Demo Contest at Bank Innovation Israel

PayKey Wins Demo Contest at Bank Innovation Israel

by November 4, 2016 at 11:44 am 0 comments

TEL AVIV — PayKey, an intriguing Israeli startup that lets banks offer payments on any social media platform — and we mean any — won the demo contest at Bank Innovation Israel 2016 here this week. PayKey beat out 12 other finalists at the DEMOvation Challenge at Bank Innovation Israel,Read More

PayPal Swears Off Buying Another Bank [VIDEO]

PayPal Swears Off Buying Another Bank [VIDEO]

by October 27, 2016 at 9:33 am 0 comments

PayPal will not buy another bank, and specifically not one in the United States. So declared Dan Schulman, CEO of the payments company, this week. This despite the fact that PayPal Inc. has about $6 billion of cash on its balance sheet. “We are a bank in Europe; we are largeRead More

Yodlee Finds Itself in a Technology ‘Accident’

Yodlee Finds Itself in a Technology ‘Accident’

by October 27, 2016 at 9:29 am 0 comments

Even large technology companies can’t get a simple email right. That’s what happened Tuesday when Envestnet Yodlee errantly blasted out a test email message to an unknown number of recipients. The email was a raw template from the address FISuccess@yodlee.com. It had gibberish as text, image specs for where images shouldRead More

Loans good for credit scores?

Is Stupid Money Chasing Blockchain?

by October 14, 2016 at 10:39 am 2 comments

There seems to be a profound conundrum facing blockchain and its implications for financial services. While it is true that blockchain seems to have the potential to “transform” financial services, it also faces steep challenges. It begs the question: is the at least $250 million invested in blockchain so far thisRead More

IBM Acquires Promontory

IBM Acquires Promontory

by September 29, 2016 at 12:48 pm 0 comments

IBM has acquired Promontory Financial Group, the consultancy founded by former Comptroller of the Currency Eugene Ludwig. Terms were not disclosed, but sources suggest IBM may have paid upwards of $300 million for the company. IBM said Promontory, which specializes in regulatory compliance consulting for financial institutions and employs 600Read More