Bankers need but one mantra today: “my bank is a technology company, my bank is a technology company.” And exhale. The truth is this concept appears to be incredibly difficult for the vast majority of American banks to fully grasp even today — unlike European banks, for example. Why exactlyRead More
Coin, the card aggregation device, introduced its version 2.0 device with NFC capabilities a couple of days ago, and it is, well, lacking. Below is a demo of the device. Coin 2.0 reportedly started shipping on August 26 “to all backers.” The company originally said it would start 2.0 shipments last April. The upgradeRead More
What George, Jane and family can teach bankers about innovation and the velocity of change Like many kids growing up in the 1960s, I looked forward to Saturday morning cartoons. Armed with my bowl of Rice Krispies—the only time I was allowed to eat in the living room–and sporting myRead More
Wall Street has given investors a wild ride in recent days. That is, with the exception of fintech investors. The Bank Innovation portfolio of stocks, which includes 25 fintech companies, has dropped in value 2.24% since July 20. That compares to a loss of 9.83% for the Nasdaq since that date.Read More
The mobile banking apps of the 10 largest banks in the U.S. just don’t measure up. The average iOS iTunes score for those apps is short of the average score for the most popular fintech apps — make that, well short. On a scale of one to five, with five being theRead More
BankMobile can truly say it is more than just a bank — it’s a technology company, too. It’s a common refrain across many industries to say your company is a technology company first and a bank/phone company/ice cream store/whatever second. But a few banks are taking this a step further and using theirRead More
Andres Wolberg-Stok, global head of emerging platforms and services for consumer banking at Citigroup, will present on mobile device security at Bank Innovation Israel in Tel Aviv this November. Andres joined Citi in 2000 and leads the team responsible for innovation in digital platforms and advanced customer features.
Bank Innovation today formed a wide-ranging partnership with LeumiTech, the high-tech services unit of Israel-based Bank Leumi, for its upcoming Bank Innovation Israel. Bank Leumi is Israel’s second-largest bank by assets.
Robinhood, a startup promising free stock trades, made a strong showing in rankings for Google Play store finance apps, coming in at No. 7, putting it ahead of Google Wallet, Venmo, Citibank, and US Bank. Based in Palo Alto, Calif., Robinhood has $66 million in funding and is commonly citedRead More
American Express announced a prepaid card with 1% cash back today, calling the card the first and only one of its kind. Debit reward cards became rarities after the Durbin Amendment slashed “swipe fees” earned by issuers in 2010. Retailers, who won out with Durbin, issued some brand-specific rewards cards, but consumersRead More
When will the first fintech unicorn rear its head in Israel?
The Bancorp, which is the rent-a-banking-license for many top fintech ventures, is in danger of being delisted by Nasdaq. Last Friday, The Bancorp [ticker: TBBK] disclosed that it once again missed its deadline for filing its 2014 financial disclosures to Nasdaq. The Bancorp has not released financial information since lastRead More