Articles by: JJ Hornblass

Is Y Combinator Pivoting Away From Fintech?

Is Y Combinator Pivoting Away From Fintech?

by August 23, 2016 at 10:09 am 1 comment

Fintech seems to have lost some appeal at Y Combinator. Arguably Silicon Valley’s top incubator yesterday hosted Day 1 of its Summer 2016 Demo Day, and the percentage of fintech startups dropped noticably compared to its winter lot. Last March, around 10% of Y Combinator startups focused on fintech. Yesterday, only two ofRead More

Amex Shoots Down OptBlue Rumor

Amex Shoots Down OptBlue Rumor

by August 11, 2016 at 4:33 pm 2 comments

American Express today dispelled market rumors that it would expand its OptBlue program. The program, launched in May 2014, allows merchants who charge less than $1 million a year through American Express, to use one of 18 merchant processors to secure a lower discount rate. Market participants tell Bank InnovationRead More

Innovation Helps EverBank Score a Higher Acquisition Multiple

Innovation Helps EverBank Score a Higher Acquisition Multiple

by August 8, 2016 at 2:56 pm 0 comments

EverBank Financial Corp. today scored a valuation multiple of nearly 22x earnings in its sale to TIAA. No wonder the EverBank executive team said it was “excited” about the deal. That multiple (21.67x to be exact) will translate into a sale price of about $2.5 billion, when the deal finally closes, mostRead More

Bank of America Doubles Down on Credit Scores

Bank of America Doubles Down on Credit Scores

by July 28, 2016 at 11:21 am 1 comment

Bank of America last Tuesday introduced version 7.0.0 of its iPhone mobile app, and it was noteworthy largely because of one new feature: it gives consumers access to their credit scores. Bank of America is believed to be one of the few financial institutions to offer consumers unfettered access to their creditRead More

Silicon Valley Bank Building Out Payments Services

Silicon Valley Bank Building Out Payments Services

by July 25, 2016 at 11:17 am 0 comments

Watch out payments industry, Silicon Valley Bank is coming. The bank for startups — officially named SVB Financial Group — said last Friday that it was boning up its payments infrastructure and services by “leveraging strategic partnerships to offer scalable and sustainable payment solutions to our clients, at every stage ofRead More

Tech Spending at Amex Continues to Climb

Tech Spending at Amex Continues to Climb

by July 21, 2016 at 12:14 pm 1 comment

While the headline out of American Express‘s earnings yesterday was the $1 billion of gain from the sale of its Costco Wholesale Corp. credit portfolio, the underlying story — at least from an innovation perspective — was the continued increase in technology spending at the payments giant. Amex records itsRead More

Regions to ‘Refresh’ Digital Offerings as Avant Comes Online

Regions to ‘Refresh’ Digital Offerings as Avant Comes Online

by July 20, 2016 at 11:24 am 1 comment

Regions Financial Corp. is using its upcoming Avant deployment as an opportunity to “refresh” its digital offerings. The bank’s CEO, Grayson Hall, said yesterday during the company’s earnings call that the Avant loan application service will go live next month. The Regions-Avant partnership was announced last April. “[W]e’re in the process evenRead More

Details on the FDIC Security Breach by Chinese Spies [VIDEO]

Details on the FDIC Security Breach by Chinese Spies [VIDEO]

by July 14, 2016 at 10:35 am 1 comment

How Chinese spies hacked into computers at the Federal Deposit Insurance Corporation from 2010 until 2013 — and American government officials tried to cover it up.

Open Letter to the OCC: Make Real Innovation Possible

Open Letter to the OCC: Make Real Innovation Possible

by July 7, 2016 at 11:20 am 3 comments

A trifling blogger on banking innovation writes to the Office of the Comptroller of the Currency, despite its historically apathetic view on such matters.

Is ‘Buy with Facebook’ Finally Coming?

Is ‘Buy with Facebook’ Finally Coming?

by July 6, 2016 at 11:34 am 2 comments

Whatever happened to the “Buy with Facebook” button? Back in 2014, Stripe confirmed that it was working with Facebook on a “Buy” button for the social media giant. From Recode: Facebook first began testing a “Buy” button within the News Feed in July [2014], and payments startup Stripe has been taskedRead More