Israel is showing once again that it is a hotbed of fintech innovation. We present four Israeli fintech startups that deserve particular attention. Analytics and security, traditional strengths of the Israeli startup community, are at the forefront here. Our roundup is based on presentations at the recent MIXiii conference in Israel.
David Marcus might not be the golden payments guru some (hint: Facebook) are making him out to be. A former PayPal executive with extensive knowledge of the goings-on there told Bank Innovation today that Marcus was anything but loved at PayPal.
Everyone hates Mondays. But the folks at PayPal probably had a rougher Monday than you. First, it was reported that Amazon was taking on the eBay subsidiary with a new subscription and recurring payments billing service.
Square is using its data to give working capital to retailers. Square, the mobile payments startup launched by Twitter co-founder Jack Dorsey, has officially launched a new service where the company will use data from merchant transactions to offer cash advances to businesses. The loans will be paid back throughRead More
JPMorgan Chase updated its iPhone app Thursday, and dropped some hints about its mobile roadmap for the rest of 2014. The newly updated app, seen at left, aims at “humanizing the user experience” for iPhone users, said Gavin Michael, Chase’s head of digital for consumer and community banking at aRead More
Remote deposit capture has hit the big time. It used to be that banks would tout the use of smartphone cameras to deposit checks on earnings calls to signal that they were serious about innovation. Now that the remote deposit of checks via RDC has become table stakes for theRead More
Is US Bank the only financial institution in the nation to continue increasing its investment in innovation? It sure seems like it. The latest shot across the financial sector’s bow came yesterday, when bank officials disclosed that they were not just keeping the bank’s innovation budget constant, but actively lookingRead More
Loop, the payments startup that allows for contactless payments at magstripe card readers using magnetic transmission, has plans that go far beyond magstripe itself. The company has deals in the works with a major card network and a major handset manufacturer that should see daylight later this year, CEO WillRead More
Mobile users continue to grow at Bank of America. The bank grew mobile users by 4% in the first quarter of 2014, while shedding 1% of its branches. Mobile users reached 15 million, almost 20% higher than one year ago. JPMorgan Chase and Wells Fargo both saw about 5% QOQRead More
The bank of the future probably won’t be made of brick or stone, and may not be much to look at. It’s easier to say what it will do. Entrepreneur and startup mentor Jack Gavigan, who traded tweets with Marc Andreessen and others on the subject back in February, elaborated onRead More
Biometrics have arrived, and not a moment too soon. The so-called Heartbleed vulnerability has just about everyone worried about the fidelity of passwords, which are hard to remember and not secure anyway. Fingerprint scanners and other forms of biometric authentication are both easier and far safer and have long beenRead More
Bank systems are generally thought to be safe from the direct effects of the Heartbleed bug, according to security experts, but the galaxy of vendors and service organizations — to say nothing of employee devices — are another matter. The Heartbleed exploit refers to a weakness in OpenSSL, an authorizationRead More