Security

Cross River Bank to Securitize $100 Million of Marketplace Loans

Cross River Bank to Securitize $100 Million of Marketplace Loans

by July 27, 2015 at 4:38 pm 0 comments

Cross River Bank, a major player in the marketplace lending space, expects to securitize $100 million of these loans later this year, Bank Innovation has learned. Cross River will be among the first lenders to do so, and the securitization will add valuable liquidity to the marketplace lending sector. Citibank announced last week itRead 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

Apple Pay to Hit 1.5 Million Locations by Yearend

Apple Pay to Hit 1.5 Million Locations by Yearend

by July 22, 2015 at 10:45 am 0 comments

Soon, there will be 1.5 million chances for you to bump into Apple Pay. That’s because Apple Pay is expected to be in 1.5 million locations in the United States by the end of 2015. Last week, Apple Pay launched in the United Kingdom, and scored 250,000 locations “on Day One,”Read 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

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

New Bitcoin Email Service Compounds Digital Currency Complexity

New Bitcoin Email Service Compounds Digital Currency Complexity

by July 13, 2015 at 11:17 am 0 comments

It is called “cool” on Reddit, but the new bitcoin email transfer service called MoneyPacket.org just adds complexity to the movement of cryptocurrency, rather than eliminating it. MoneyPacket.org’s founder, known on Reddit as loveforyouandme, explained that he launched the service last weekend to help newbies to bitcoin: I see this beingRead More

ATM Skimming Rising, Again

ATM Skimming Rising, Again

by July 13, 2015 at 9:59 am 0 comments

Do you know what ATM stands for? For crooks, it stands for A Thief’s Moneymaker. A new report from FICO says that “skimming” crimes have made their biggest spike in the past 20 years. This includes ATMs on bank premises, but of course, public ATM kiosks have seen the biggestRead More

Narrative Science Sets Sights on Robo Advisory

Narrative Science Sets Sights on Robo Advisory

by July 10, 2015 at 11:30 am 1 comment

Narrative Science, which transforms data into narratives, is largely focused on assisting humans in wealth management. But a new opportunity is arising in automated investing, also known as robo advising, in regards to which Narrative Science is currently engaged in several meaningful conversations. The robo advising world has been excitingRead More

The Rise of the Fintech Intermediary Ecosystem

The Rise of the Fintech Intermediary Ecosystem

by July 7, 2015 at 4:02 pm 0 comments

Here’s a quiz for you: Which commands a greater price today: A) a financial product; or B) the distribution of that financial product? If you answer B, then you were right — or you work at Xignite. Xignite, which is raising a new round of funding, has made its business beingRead More

How E-Signatures Enable Remote Account Openings [SPONSORED]

How E-Signatures Enable Remote Account Openings [SPONSORED]

by July 2, 2015 at 1:00 am 0 comments

Today, banks, credit unions and other financial services providers need to be where the customer is – online and on mobile devices. In this white paper, we explore how e-signatures make it easier for consumers to open accounts remotely on tablets and smartphones, while also strengthening compliance. Highlights include: RemoteRead More