Innovations

Wells Fargo Shoots For Innovation Headcount of 130

Wells Fargo Shoots For Innovation Headcount of 130

by July 30, 2015 at 12:56 pm 0 comments

Catherine Bessant, Bank of America’s chief technology officer, recently said that innovation labs were not in the cards for her company because anything that only brings a 10% return can’t be taken seriously. That position apparently has not been embraced at Wells Fargo & Co. The innovation operation at SanRead More

3 Startups to Watch: Principly, EdAid, Wayerz

3 Startups to Watch: Principly, EdAid, Wayerz

by July 29, 2015 at 11:48 am 0 comments

This week’s startups to watch take on financial aid for education and optimized hardware for bank operations. Principly – Principly sims to bring modern sensibilities to the traditional concept of a college fund. Its stated mission is “to make college a reality for more kids by empowering families to save smarter andRead More

CurrencyTransfer.com Prepares Major Funding Round

CurrencyTransfer.com Prepares Major Funding Round

by July 24, 2015 at 10:55 am 0 comments

CurrencyTransfer.com, a currency exchange marketplace for businesses, is preparing a major funding round from institutional investors later this year, the company told Bank Innovation. CurrencyTransfer.com has received an undisclosed amount of funding from angel investors including Errol Damelin, Gigi Levi, Barak Rabinowitz, and Itay Birnboim. Innovative solutions abound for movingRead More

Cap One CEO: Digital Is the Centerpiece of Our Agenda

Cap One CEO: Digital Is the Centerpiece of Our Agenda

by July 24, 2015 at 10:44 am 0 comments

It’s become a quarterly ritual: Capital One CEO Richard Fairbank eloquently speaking to the importance of digital banking. We’re not complaining — Fairbank is right, and other bankers should be listening. On yesterday’s earnings call for the McLean, Va.-based bank, Fairbank called digital “a centerpiece of that entire strategic agenda.”Read More

MasterCard’s Embrace of APIs Leads It to Smaller Clients

MasterCard’s Embrace of APIs Leads It to Smaller Clients

by July 23, 2015 at 11:55 am 3 comments

MasterCard Inc. has confirmed what many suspected: that is application programming interface, or API, offerings are leading to a larger population of smaller clients at the payments network. At a NYPAY Meetup last night in New York, Brien Buckman, who heads MasterCard’s API skunk works at the payment company’s swank Tech HubRead More

3 Startups to Watch: FrankMoney, Text a Loan, TravelersBox

3 Startups to Watch: FrankMoney, Text a Loan, TravelersBox

by July 22, 2015 at 9:15 am 1 comment

This week’s Startups to Watch help solve three consumer problems: seeing how donations get used, getting loans fast, and ditching pesky foreign currency right at the airport. Frank Money  – Frank Money is a public-facing transparent ledger that plugs in to charities’ bank accounts in order to provide donors and contributors withRead More

Utility Payments in Africa Draw 2 Startups — From the U.S.

Utility Payments in Africa Draw 2 Startups — From the U.S.

by July 21, 2015 at 11:53 am 0 comments

M-Pesa is far from the only FinTech innovation happening in Africa, but its value proposition — moving money through the mobile phone — is central to innovation efforts on the continent. Mobility is transforming financial services in Africa more dramatically than perhaps anywhere else, since it allows companies to leapfrog expensive infrastructureRead More

Chase Reboots Online Banking to Resemble Mobile Experience

Chase Reboots Online Banking to Resemble Mobile Experience

by July 20, 2015 at 12:59 pm 2 comments

JPMorgan Chase refreshed its online banking homepage for the first time in three years yesterday. The result looks a lot like the bank’s recently revamped mobile site. All the buzz is around mobile banking these days, but online banking still serves more people. Chase has nearly 40 million online users,Read More

3 Startups to Watch: FundMyPro, ShareRate, LETZ

3 Startups to Watch: FundMyPro, ShareRate, LETZ

by July 15, 2015 at 1:15 pm 1 comment

The three FinTech startups we’re profiling this week all capitalize on the collective to engage consumers with their products. One capitalizes on crowdfunding, the second on “Crowdborrowing,” and the third on the pooling of resources. FundMyPro  — Created by former NFL star Corey Jackson, FundMyPro is a platform designed for professional athletesRead More

Biometrics Get a Boost with MasterCard’s ‘Selfie Pay’ Test

Biometrics Get a Boost with MasterCard’s ‘Selfie Pay’ Test

by July 14, 2015 at 2:34 pm 0 comments

Would you like to authenticate a payment with a selfie? MasterCard hopes you do. The use case is simple. Swipe your card, and receive an alert on your smartphone asking you to show your face to prove you’re really you. MasterCard is currently testing this form of authentication with a smallRead More

2 Startups Aim to Help Banks Do More for Small Businesses

2 Startups Aim to Help Banks Do More for Small Businesses

by July 13, 2015 at 11:20 am 1 comment

Small businesses are classically underserved by banks — or so the story goes. But a closer look at the small business space shows banks are stepping up partnerships with startups targeting the space, and are adding new services and improving existing services for small businesses in general. Just last week, for example, JPMorgan ChaseRead More