Long live the fintech accelerator. With all due respect to American Banker‘s BankThink portal and Forrester Research, the future could not be brighter for fintech accelerators, and I write that not just because Bank Innovation has launched an, er, fintech accelerator with Fiserv, U.S. Bank, and Cross River Bank. Last week,Read More
Articles by: JJ Hornblass
The fact that the demo video is hysterically funny actually masks the fact that Notarize, which launches today, is actually a great new app in the wildly sleepy (dare I say, pathetically sleepy?) world of, you guessed it, notary publics. Because of a state law passed in 2011 — watchRead More
It is a sad truth: AML violations have cut the innovation practice at The Bancorp. The Bancorp, which released earnings yesterday, arguably has been a leading advocate for fintech over the last several years, notably providing the bank charter behind Simple. But The Bancorp is facing regulatory scrutiny for itsRead More
Lending Club Corp. seems to be facilitating many loans that do not include income verification. According to a Bank Innovation analysis, nearly a third of Lending Club’s loans outstanding during the first nine months of 2015 are classified as “Not Verified.” That amounts to nearly 82,000 loans. Another 43% of Lending ClubRead More
When Mark Zuckerberg says “we don’t view ourselves as a payments business,” he’s not kidding. Facebook, the social media monolith, took a big step backward in payments last quarter, as its payments revenue dropped 21% to $204 million compared to the same quarter in 2014. Facebook’s payments revenue has been on declineRead More
U.S. Bank mobile customers: Get your thumbs ready. The fifth-largest bank in the nation will add TouchID biometric capabilities to its mobile app in March. U.S. Bank is a participant in Bank Innovation INV, Bank Innovation’s fintech accelerator that launched last week. The company made the disclosure as part of a notable iOSRead More
Dr. Abhijit Bose, head of digital intelligence for consumer & community banking for JPMorgan Chase, will participate in a fireside chat at Bank Innovation 2016 on March 1 in Seattle.
Banks with a combined market capitalization of nearly $600 billion have opted for the R3 CEV distributed ledger consortium over SWIFT’s global payment innovation initiative, introduced today. There are 45 banks in SWIFT’s initiative, which aims to make more payments data accessible to corporate treasury departments. But R3 has scored a totalRead More
Bank Innovation and Fiserv today announce the launch of Bank Innovation INV, a revolutionary fintech accelerator that will cultivate financial services startups around the world. INV is now accepting applications for its first accelerator class, which will commence this quarter.
In 2009, as the financial services sector boiled, Bank Innovation was launched for one simple reason: it was (or would be at the time) an imperative that banking institutions innovate. Today, that imperative is as sure as rain. Digital banking is no longer a backwater at banks. “Chief Innovation Officer”Read More
American Express has $1.4 billion of reasons to lament being left out of Powerball payments. Amex is the only one of the major networks not contracted to process Powerball “subscription” payments. And, unless you have taken residence on Pluto, you know that Powerball, which is administered by Mega Millions, hasRead More
Today, Goldman Sachs & Co. issued an influential “buy” investment rating for Wells Fargo & Co. But the reasoning for it seems a bit offline to what Wells sees as its best opportunity in 2016: wealth management. Goldman analyst Richard Ramsden, in issuing the “buy” rating today, cited as theRead More