Innovations

Top 5 Reasons to Read Ron Shevlin’s New(ish) Book

Top 5 Reasons to Read Ron Shevlin’s New(ish) Book

by May 22, 2015 at 11:28 am 0 comments

In a sense, if you’ve been reading Ron Shevlin’s Snarketing 2.0 blog, now part of The Financial Brand, you have already read his book Smarter Bank, published Jan. 30. Much of the material is familiar, but lacking the vibrant comment section that followed those online posts. So why would anyone in FinTechRead More

Venture Funding for FinTech Climbs 62% YOY, New Data Shows

Venture Funding for FinTech Climbs 62% YOY, New Data Shows

by May 21, 2015 at 11:49 am 0 comments

FinTech venture funding continues to increase. A total of $520 million was invested in financial services startups last quarter, up from $289 million during the last quarter of 2014 and $321 million, in the same quarter last year — a 62% year-over-year increase — according to new data from PricewaterhouseCoopers’s MoneyTreeRead More

In the Bank Account of the Future, Context is King

In the Bank Account of the Future, Context is King

by May 14, 2015 at 11:51 am 0 comments

SAN JOSE, Calif. – Three companies gave Finovate attendees a look at the bank account of the future yesterday: Moven, CBW Bank/Yantra Financial, and NAMU. The second and concluding day of the conference saw 31 companies show their wares, and a major theme was providing context around transactions. As RonRead More

CIBC First to Launch Funds Transfer for Apple Watch

CIBC First to Launch Funds Transfer for Apple Watch

by May 14, 2015 at 9:27 am 1 comment

While fintech was focused on Finovate — around 1,500 #finovate tweets were generated during this week’s event in San Jose, Calif. — CIBC quietly released on Tuesday what appears to be the first Apple Watch app to allow for funds transfer. CIBC, the Canadian bank, officially released its Apple Watch offering on Tuesday.Read More

Purge the Word ‘Frictionless’ from Banking

Purge the Word ‘Frictionless’ from Banking

by May 13, 2015 at 8:59 am 3 comments

SAN JOSE, Calif. — It’s time to relegate the phrase ‘frictionless’ to the FinTech trashbin. It will join words such as “omnichannel,” “disruption,” and “mobilefirst” in exile. All were used so often that they lost all meaning and just plain got on everyone’s nerves. Removing friction from financial services — with orRead More

Why Does No One Know About Citi’s Price Rewind? [VIDEO]

Why Does No One Know About Citi’s Price Rewind? [VIDEO]

by May 11, 2015 at 12:27 pm 2 comments

Imagine this — You pick up the latest flat-screen TV on Amazon, then, a week later, notice it costs $100 less at Best Buy. Sure, you should have done your research, but wouldn’t it be great if your someone — perhaps your bank — could go back and get you the lowest priceRead More

How Commonwealth Bank of Australia Built Its Innovation Center [VIDEO]

by May 7, 2015 at 3:17 pm 1 comment

Commonwealth Bank of Australia (CBA), one of Australia’s “Big Four” banks, has launched a number of innovation initiatives in the last several years, from the small — a smartwatch app — to the massive — modernizing its core software. The company also built a 7,500-square foot innovation lab beneath its SydneyRead More

Mega Social Media Data for Financial Services Has Arrived

Mega Social Media Data for Financial Services Has Arrived

by May 7, 2015 at 11:24 am 2 comments

It wasn’t too long ago that the suggestion that social media data could feed financial services underwriting and products was, well, dubious. Yes, we paid it lip service — isn’t it cool that OnDeck and Lenddo are using social media to make loans? The lip service ends today. Like a slow-moving glacier thatRead More

ShoCard Will Help Banks Authenticate Users — With the Blockchain

ShoCard Will Help Banks Authenticate Users — With the Blockchain

by May 6, 2015 at 2:39 pm 2 comments

Could the blockchain be the answer to banks’ identity issues? Proving a user’s identity online can be a tricky business. (See “Apple Pay fraud.”) Passwords are hard to remember and easy to steal. Banks know this better than anyone, and yet most bank apps still rely on this old-fashioned and grossly inadequateRead More

Ripple Labs Fined by FinCEN for Money Laundering Violations

Ripple Labs Fined by FinCEN for Money Laundering Violations

by May 5, 2015 at 5:59 pm 1 comment

Ripple Labs today earned the dubious distinction of being the first virtual currency exchange to be fined by FinCEN for failing to comply with anti-money laundering rules. This is sure to send a chill through the world of virtual currency. The San Francisco-based company, which allows for rapid inexpensive movementRead More

The 5 Myths Preventing Bank Fintech Innovation

The 5 Myths Preventing Bank Fintech Innovation

by May 4, 2015 at 12:48 pm 2 comments

Banks are now big complex machines that risk losing sight of why the existed in the first place.  Banks protect your money (take deposits) and in return are able to lend some of that to help the economy grow. Somehow we ended up with organisations employing 100s of thousands of people & riddled with complexity. […]