Not so long ago bankers feared that fintech insurgents like Dwolla wanted to turn FIs into “dumb pipes” moving money around while the fintechs would own the customer experience. Payments platform Dwolla, for one, has moved past wanting to own the customer. “We’re happy to be the pipes,” CEO BenRead More
Around this time last year, the payments industry waited with much anticipation as Apple prepared to announce a move into mobile transactions that was expected to redefine the ecosystem as we knew it. From that anticipation, Apple Pay was born, and now nearly one year after its introduction the solutionRead More
“Sorry, no cards — we’re cash only.” This depressing refrain sends many a millennial scuttling to the nearest ATM, where he will likely pay $2 or $3 so that the merchant can avoid a swipe fee. The cap on debit fees brought about by the Durbin Amendment seems to have done nothing to curbRead More
Listen to this: Bankjoy, the Y Combinator alum startup, is hotly working on a banking app for Apple Watch that will rely on voice for functionality. Dick Tracy would be thrilled. Michael Duncan, the founder and CEO of Bankjoy, told us yesterday that the Apple Watch app will be doneRead More
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
Israel is a small country bursting with startups in search of wider markets. That’s why Israeli entrepreneurs appreciate opportunities like Citi Mobile Challenge, which came to Jerusalem — among a number of other cities, including London, Nairobi, Warsaw, and New York — to offer mobile innovators a chance to present to an audience of investors and technology enthusiasts.
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
Nearly a year after it was announced on Sept. 9, 2014, Apple has released a video promoting its Apple Pay mobile payment service. The video racked up more than 100,000 views in 24 hours. Apple Pay has been much feted in the press, but adoption has been underwhelming in absoluteRead 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.
Robinhood, a startup promising free stock trades, made a strong showing in rankings for Google Play store finance apps, coming in at No. 7, putting it ahead of Google Wallet, Venmo, Citibank, and US Bank. Based in Palo Alto, Calif., Robinhood has $66 million in funding and is commonly citedRead More