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
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
Banks spent 968 hours complying with regulations in the fourth quarter of 2015, according to a recent report from Continuity, which produces regulatory change management software to the financial services industry. That duration works out to 24 weeks of full-time work for the quarter, or the equivalent of more than two full-time employees — 2.23, to beRead More
Many banks are interested in using distributed ledger technology, but Santander has taken matters a step further by hosting a competition among blockchain startups. The event took place in New York yesterday at an Amazon Web Services popup loft in SoHo. Distributed ledgers are not identical to blockchains, it should beRead More
Dan Kimerling, head of research & development at Silicon Valley Bank, has joined the speaker faculty at Bank Innovation 2016. Kimerling co-founded Standard Treasury with Zac Townsend in 2013. Standard Treasury developed software to build an API-driven bank and was a leader in the space of fintech startups building software specifically for banks. Silicon Valley Bank acquired Standard Treasury in the summer of 2015.
Moven has signed a deal to partner with Payoff and CommonBond, two companies helping borrowers refinance debt, the mobile banking service announced today. Moven is, well, movin’ these days. It’s one new initiative after another, and those in favor of financial innovation should give the Brett King-led startup a tipRead More
Acorns wants millennials to start investing money, and also wants to help them learn how to manage their finances. To that end, the investment platform has launched a media site called Grow that features millennials and financial experts — and some millennials who are themselves financial experts — discussing personal finance.Read More
U.S. Bank mobile customers: Get your thumbs ready. The fifth-largest bank in the nation will add TouchID biometric capabilities to its mobile app in March. U.S. Bank is a participant in Bank Innovation INV, Bank Innovation’s fintech accelerator that launched last week. The company made the disclosure as part of a notable iOSRead 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.