The third quarter saw a 26% rise in the compliance burden for FIs. This data arrives via the Banking Compliance Index, produced by Continuity Control, a New Haven, Conn.-based provider of a cloud-based compliance management system for community banks. The latest results of the index were announced Saturday, November 15.
Reactions to the announcement of Snapchat’s new payments service ran the gamut from “the future of payments” to, well, a way to pay people for sending you nude pictures.
Regions Bank released a video yesterday showing “two new concept branches that offer a glimpse into the branch of the future.” The branches include video tellers and ATMs with advanced functionality, such as check-cashing and offering withdrawals in a variety of bills. Both branches are located near universities, one on the campus of the University of Alabama at Birmingham, and the other near Purdue University in West Lafayette, Ind.
U.S. Bank ran a pilot program for mobile photo account opening, a Mitek Systems technology, with Twins games attendees this summer, and based on the positive results, plans to expand the program to other event spaces in its footprint.
In late October, eyebrows were raised when mobile payments startup Mozido raised $185 million from the likes of MasterCard, Wellington Management Co., and His Royal Highness Sheik Nahyan, who is kind of a big deal in the United Arab Emirates.
Financial software provider Yodlee held its first earnings call as a publicly traded company yesterday and indicated that a broader customer base was helping spread the risk associated with having a few large accounts.
When China’s largest payments processor makes partnership overtures, they deserve notice. That’s what happened today, when Alipay, which has about 700 million registered accounts, said it wants to partner with PayPal, in addition to its ongoing talks with Apple to join Apple Pay.
Financial software maker NCR released a trio of announcements this morning pushing ATM innovation forward. The Duluth, Ga.-based company is installing 2,200 advanced ATMs for the Bank of Montreal, which will allow faster transactions and “enhanced convenience, security and performance,” said Steven Nowaczyk, Head of North American ATM Channel, BMO Financial Group. NCR isRead More
Is every banking conference truly blah, blah, blah boring?
Social media is thought of as a separate universe than other digital channels, but there is significant overlap, and banks should take advantage of this.
BankMobile is asking its first 5,000 customers to help brainstorm how the bank should look and work.