Articles by: JJ Hornblass

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 1 comment

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

Wells Fargo Just Kicked Innovation in the Chin

Wells Fargo Just Kicked Innovation in the Chin

by September 19, 2016 at 10:03 am 0 comments

It is always doubly upsetting to see vulgar business behavior from a seemingly platinum-plated brand. We have certainly been among those that have lauded Wells Fargo & Co. in the past, praising its lab and innovation practices, its mobile banking growth, had its executives speaking at our events, and even namedRead More

Why Vantiv Loves Pizza

Why Vantiv Loves Pizza

by September 13, 2016 at 11:07 am 0 comments

Last week, Vantiv Inc. secured a significant card processing deal. And the payments industry barely noticed. It should have. Vantiv, based in Cincinnati, scored the processing business of Papa John’s International Inc., the fourth-largest pizza store chain in the nation. But Vantiv didn’t just secure the payments volume in its 3,300 stores.Read More

Hot Insurance Startup Trov to Launch in the U.S.

Hot Insurance Startup Trov to Launch in the U.S.

by September 9, 2016 at 10:06 am 0 comments

Trov, an innovative insurance startup from Australia, will launch in the United States before the end of 2017, the company said yesterday. The U.S. launch is being made possible by a deal announced yesterday with Munich Re, the German reinsurance provider. Trov (pronounced Trove — officially, there is macron on topRead More