Security

Western Union Will Give Ripple a Chance

Western Union Will Give Ripple a Chance

by April 29, 2015 at 11:11 am 7 comments

News broke yesterday at the Milken Institute’s Global Conference 2015 that Western Union is planning an “experiment” with Ripple Labs, the group behind the Ripple protocol. In Oct. 2013, when Ripple struck a deal with the money transfer service ZipZap, it was called a threat to Western Union. At that time, Western UnionRead More

Most ‘Bitcoin Cloudmining Operations’ Are Ponzi Schemes

Most ‘Bitcoin Cloudmining Operations’ Are Ponzi Schemes

by April 27, 2015 at 11:56 am 0 comments

Hey buddy, wanna buy some bitcoins? It’s buyer-beware in the world of bitcoin cloudmining, with as many as 75% of those purporting to provide the service being fraudulent, according to a bitcoin mining industry expert. Cloudmining allows users to invest money up front in mining operations and get bitcoins out the backendRead More

Umpqua Completes Core Update

Umpqua Completes Core Update

by April 17, 2015 at 10:58 am 1 comment

Umpqua has a brand-new core. The Portland, Ore.-based Umpqua Holdings Corp. said yesterday that it had completed its core upgrade, which was first announced last summer. The core upgrade included the integration of core systems from Sterling Financial Systems, which Umpqua acquired in April 2014, making it, Umpqua said, the West Coast’s largestRead More

The Core Is All Right [Video]

The Core Is All Right [Video]

by April 10, 2015 at 11:49 am 0 comments

They’re everywhere, outdated bank cores — and that may be ok. We all know about the problems with outdated cores running Mad Men-era software, and a few bold banks, notably BBVA Compass, have installed new cores running modern software. IBM Banking released a video last week discussing the problems with legacyRead More

Alerts, the Gateway to Wearables

Alerts, the Gateway to Wearables

by April 1, 2015 at 11:57 am 2 comments

What time is it? How about time to pay your credit card bill? The most important driver of adoption for bank apps on wearable devices will not be mobile payments — it will be alerts. For payments, the watch form factor is only marginally more convenient than the mobile phoneRead More

Why Some People Make Mobile Payments (and Why Some Don’t)

Why Some People Make Mobile Payments (and Why Some Don’t)

by March 27, 2015 at 12:59 pm 2 comments

People make mobile payments to pay bills, or they don’t use them because it’s no easier than using a card or cash. That’s according to data from the Board of Governors of the Federal Reserve System, which released its fourth annual report on mobile banking this week. The study’s definition of aRead More

A still from Final's video. Final looks to replace credit cards with static numbers

Just 9 FinTech Startups Present at Y Combinator’s Demo Day

by March 25, 2015 at 11:46 am 2 comments

More than 100 companies demoed at Y Combinator’s Winter Demo Day, which runs for two days and concluded yesterday. Fintech, however, was not particularly well-represented. Just nine fintech startups in all presented. Y Combinator is arguably the leading incubator in Silicon Valley, which is why fintech’s under-representation this week at DemoRead More

Square Cash Opens to Businesses, Introducing $Cashtags [Video]

Square Cash Opens to Businesses, Introducing $Cashtags [Video]

by March 23, 2015 at 11:21 am 1 comment

Just days after Facebook sent shock waves through the peer-to-peer payments world, Square announced $cashtags, simple addresses that will allow individuals, and now businesses, to accept payments. In a way, today’s announcement continues Square’s suite of services for businesses, but it is also likely another move to get cards on files, aRead More

10 Coolest Brands in Banking 2015

10 Coolest Brands in Banking 2015

by March 19, 2015 at 11:55 am 8 comments

How do you define “cool”? The Urban Dictionary (which is way cooler than other dictionaries) says “cool” is: An adjective referring to something that is very good, stylish, or otherwise positive. [As in,] Your computer is very cool. Welcome to our fourth annual list of the 10 financial services brandsRead More

Card Not Present — For a Day

Card Not Present — For a Day

by March 18, 2015 at 11:14 am 1 comment

I left my payment cards at home yesterday. And… it didn’t matter. It’s getting easier these days to keep that card in your pocket — or wherever. For example, BMO Harris announced this week it is enabling cardless cash withdrawals at 750 ATMs — about half its total fleet. Customers willRead More

Bank Innovation, Open Bank Project Form API Research Partnership

Bank Innovation, Open Bank Project Form API Research Partnership

by March 16, 2015 at 11:16 am 4 comments

Bank Innovation has teamed with the Open Bank Project to conduct a research initiative surrounding the use of APIs in banking. Specifically, Bank Innovation and the Open Bank Project will undertake a research survey to better understand how banks worldwide are prioritizing API initiatives and why. We intend for the query to uncoverRead More