Traditionally, skimming seems like the most low-brow of security breaches in banking. Until Monday. That’s when what can only be described as a shockingly sophisticated skimming scheme was uncovered by KrebsOnSecurity, a leading security blog. What’s more, the scheme exposes what can only be described as an eyepoppingly idiotic security protocolRead More
Google has split its Wallet service into Android Pay and a Venmo-like peer-to-peer payments service. Now Google appears to have started to phase out the Google Wallet Card, which is a debit card issued by The Bancorp. To be sure, consumers can still order a Google Wallet Card here — IRead More
As part of a new partnership, Bank Innovation will syndicate the radio program “Breaking Banks” on the Bank Innovation website. The most recent episode of “Breaking Banks” featured CBW Bank, Ripple, and Bank Innovation and Fiserv discussing Bank Innovation INV, the new fintech accelerator.
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
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
Peter Drucker once famously stated “Trying to predict the future is like trying to drive down a country road at night with no lights while looking out the back window.” With this in mind, yet nonetheless undaunted, Carlisle & Gallagher Consulting Group decided to go for a proverbial drive downRead 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.
Financial technology firm Jack Henry & Associates will soon have a new CEO — but it won’t be changing its culture. The CEO-to-be is Dave Foss, no stranger to the company — he’s been at JHA for 18 years, most recently as president, a role he will retain as CEO. In July,Read 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