Bankers need but one mantra today: “my bank is a technology company, my bank is a technology company.” And exhale. The truth is this concept appears to be incredibly difficult for the vast majority of American banks to fully grasp even today — unlike European banks, for example. Why exactlyRead More
Articles by: JJ Hornblass
Coin, the card aggregation device, introduced its version 2.0 device with NFC capabilities a couple of days ago, and it is, well, lacking. Below is a demo of the device. Coin 2.0 reportedly started shipping on August 26 “to all backers.” The company originally said it would start 2.0 shipments last April. The upgradeRead More
Wall Street has given investors a wild ride in recent days. That is, with the exception of fintech investors. The Bank Innovation portfolio of stocks, which includes 25 fintech companies, has dropped in value 2.24% since July 20. That compares to a loss of 9.83% for the Nasdaq since that date.Read More
The mobile banking apps of the 10 largest banks in the U.S. just don’t measure up. The average iOS iTunes score for those apps is short of the average score for the most popular fintech apps — make that, well short. On a scale of one to five, with five being theRead More
Bank Innovation today formed a wide-ranging partnership with LeumiTech, the high-tech services unit of Israel-based Bank Leumi, for its upcoming Bank Innovation Israel. Bank Leumi is Israel’s second-largest bank by assets.
The Bancorp, which is the rent-a-banking-license for many top fintech ventures, is in danger of being delisted by Nasdaq. Last Friday, The Bancorp [ticker: TBBK] disclosed that it once again missed its deadline for filing its 2014 financial disclosures to Nasdaq. The Bancorp has not released financial information since lastRead More
Meet the new King of the Fintech Hill: FIS. Today, FIS effectively became the largest financial services technology company in the world by revenue, as it agreed to acquire SunGard for $9.1 billion. Just consider these stats for the new FIS: $9.2 billion of pro forma revenue (FY 2014); 90%Read More
Simple is often held up as a paradigmatic digital bank. After all, it was one of the first digital-only banking concerns in the world. Which is why it is somewhat surprising to learn that the banking venture, now a subsidiary of BBVA, does not use its rich data for somethingRead More
Today, Envestnet Inc. agreed to purchase Yodlee, a public company with a languishing stock price, for an enterprise value of $590 million. In part, this transaction appears to be taking place because of the hazy value of data. An interesting blog post on WSJ.com post Friday asked whether the value ofRead More
Mongolia, hotbed for … bank branches? Far from Mongolia today, Virgin Money, Richard Branson’s UK financial services venture, opened the doors on a new branch in Central London. The new branch was made to look like the inside — brace yourself — of a Virgin Atlantic airplane. “The new [Virgin Money]Read More
Israel might have one of the hottest startup scenes in the world, but which fintech startup in Israel is the hottest? The DEMOvation Challenge, which officially opens today, will find the answer to that question. The DEMOvation Challenge invites fintech startups to submit entries to win a complimentary demo slot at Bank Innovation Israel 2015, Nov. 10-11 in Tel Aviv.
BBVA is continuing its march to digitalization. The Spanish bank, among the world’s most aggressive in pursuing a digital strategy, now counts 30% — or 13.5 million — of its active customers as digital consumers, BBVA revealed Friday. Carlos Torres, chief operating officer and president, told investors that BBVA’s “exponentialRead More