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Capital One: Think More Like a Tech Company, Less Like a Bank

Capital One: Think More Like a Tech Company, Less Like a Bank

by April 24, 2015 at 10:47 am 0 comments

How will banks compete in a rapidly digitizing world? Capital One CEO Richard Fairbank knows. “We’re going to need to think more like technology companies and maybe a little less like banks,” he told investors on yesterday’s earnings call. His bank is notable for its high-profile acquisitions of not other banks,Read More

PayPal Revenue Surpasses EBay Marketplaces As Spinoff Nears

PayPal Revenue Surpasses EBay Marketplaces As Spinoff Nears

by April 23, 2015 at 11:13 am 1 comment

PayPal is ready to go its own way. Revenue for PayPal exceeded that of its sister unit, eBay Marketplaces, for the first time in 1Q, it was revealed in yesterday’s earnings call for eBay Inc. PayPal posted $2.1 billion on the quarter, compared with $2.06 for Marketplaces. PayPal’s revenue was 14% higher thanRead More

Who’s Who in Voice-Assisted Banking [VIDEO]

Who’s Who in Voice-Assisted Banking [VIDEO]

by April 17, 2015 at 10:45 am 1 comment

With the uproar this week over Siri’s seemingly homophobic responses to Russian queries about gays (Question: “Are there any gay bars around me?”; Answer: “You are so rude!”) and Apple’s refusal to comment about them, we decided to take a look at one of the more compelling areas of fintech: voice-assisted banking.Read More

American Express Starts Paying Consumers to Use Apple Pay

American Express Starts Paying Consumers to Use Apple Pay

by April 15, 2015 at 11:25 am 1 comment

American Express has started paying its cardholders to use Apple Pay. Yes, you read that right. Yesterday, Amex started promoting an offer that pays its cardholders in Chicago $5 to use Apple Pay at “participating concessions” at the United Center. Cardholders need to make at least $5 of purchases with Apple PayRead More

Mobile User Growth Eases at Bellwether Banks

Mobile User Growth Eases at Bellwether Banks

by April 15, 2015 at 9:45 am 1 comment

Mobile banking ain’t growing like it used to. A deep look mobile banking at the Big 3 banks — Bank of America, Wells Fargo & Co. and JPMorgan Chase & Co. — finds user growth easing. The banks had a total of 51.8 million mobile banking users at the end ofRead More

This Israeli Startup Just Leapfrogged Everyone with Apple Watch Payments

This Israeli Startup Just Leapfrogged Everyone with Apple Watch Payments

by April 14, 2015 at 11:53 am 2 comments

24me, an elegant “personal organizer” app built in Israel, has quietly figured out how to facilitate payments via Apple Watch. Before Apple Watch is even in consumers’ hands. The 24me Apple Watch app allows users to tap a pay feature when reviewing tasks on the Apple Watch. The Apple Watch appRead More

Average Pay for Fintech Software Engineers Tops $100k

Average Pay for Fintech Software Engineers Tops $100k

by April 9, 2015 at 9:56 am 1 comment

The average salary for a fintech software engineer is now more than $100,000, according to a Bank Innovation analysis. The exact average salary for a software engineer — a bread-and-butter position for a technology startup — is $100,188. With all the talk of an “overheating” fintech venture capital market, keeping an eyeRead More

Green Dot Diversifies Ahead of Regulatory Risk & Walmart Worries

Green Dot Diversifies Ahead of Regulatory Risk & Walmart Worries

by April 7, 2015 at 1:35 pm 0 comments

You can’t accuse Green Dot of standing still. In the past several weeks, the prepaid-player-turned-bank has added functionality and diversified its channel mix. A mid-March move to increase functionality on its cards and acquire two competitors, came on the heels of a January announcement of two forthcoming credit products. But looming overRead More

TransUnion’s Database on Consumers Grows 25% — Every Year

TransUnion’s Database on Consumers Grows 25% — Every Year

by April 6, 2015 at 6:45 am 1 comment

Do you know what a petabyte is? Well, TransUnion — which filed for an IPO last week — has 30 of them, and that number has been growing 25% every year since 2010. Those 30 petabytes (1 million gigabytes, for those of you who are not “Big Bang Theory” cast members)Read More

Alerts, the Gateway to Wearables

Alerts, the Gateway to Wearables

by April 1, 2015 at 11:57 am 2 comments

What time is it? How about time to pay your credit card bill? The most important driver of adoption for bank apps on wearable devices will not be mobile payments — it will be alerts. For payments, the watch form factor is only marginally more convenient than the mobile phoneRead More

Amazon Gets Jump on Payments for ‘Internet of Things’ With Dash [VIDEO]

Amazon Gets Jump on Payments for ‘Internet of Things’ With Dash [VIDEO]

by March 31, 2015 at 3:25 pm 0 comments

Payments through the Internet of Things is here. Amazon today introduced Amazon Dash, which allows consumers to reorder household staples with the click of a “Dash Button,” which would be affixed on the device. Think of ordering more coffee by clicking a Dash Button literally adhered to your coffeemaker. The deviceRead More