This past Tuesday, we got to watch Senator Elizabeth Warren flay Wells Fargo CEO John Stumpf alive—which Twitter thoroughly enjoyed—and then Accenture announced a patent filing for a technique that allows for a blockchain to be edited—which Twitter was somewhat less enthused about. Various fintech enthusiasts like Dave Birch, whoseRead More
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Fintech funding is booming. The first quarter of 2016 may have seen no IPOs, but it saw more funding than ever — $5.3 billion, 67% more than the same period last year, according to Accenture. But there are signs a chill may be in the air. At the Empire StartupsRead More
“Blockchain.” That’s an abbreviated summary of the conversation in fintech for approximately the last six months. Or, as Jack Gavigan put it, less succinctly, on Twitter: Blockchainblockchainblockchainblockchainblockchainblockchainblockchainblockchainblockchainblockchainblockchainblockchainblockchainblockchain — Jack Gavigan (@JackGavigan) April 20, 2016 We now say “distributed ledger,” which is a slightly broader term rather than a synonym (and whichRead More
Four leading financial services companies have signed on as sponsors of Bank Innovation Israel. Accenture, Intuit, KPMG and Xignite will all participate in the event as sponsors. The sponsorships are a major vote of confidence for the first-year event, which will take place November 10-11 in Tel Aviv. “We at KPMGRead More
The percentage of the consumers who make daily mobile payments has quadrupled since 2012, according to new data. According to the Accenture data, 4% of the world’s consumers are currently making daily mobile payments. In 2012, but 1% of consumers did so.
At Bank Innovation 2014 in Seattle this past March, Accenture’s head of wearable technology, Brent Blum, asked the audience, “Why don’t more banks partner with design firms?” Why not indeed?
Banks are not giving customers what they want, and risk losing an entire generation because of it. More than half of bank customers in the U.S. — 51% — want their banks to proactively recommend services and products, according to the 2014 North America Consumer Digital Banking Survey from Accenture,Read More
The First Five Ideas 6. The Numbers Game Often, at an event like Bank Innovation 2014, a theme presents itself in little more than a soundbite. That soundbite for this year’s conference was: “The future of banking is transaction volume.” This seemingly innocuous line from Kosta Peric, deputy director forRead More
Westpac New Zealand, a bank with a passion for wearables, is currently testing a version of its Cash Tank balance-checking app on Google Glass. (Bank Innovation reviewed the Cash Tank smartwatch app here.) The forward-looking bank is also working on iBeacon solutions for the retail shopping experience. Wearables received starRead More
The number of mobile customers has not yet equaled the number of online customers at Regions Bank — but “the gap is closing,” said Christopher Cox, executive vice president in charge of digital channels for the Birmingham, Ala.-based bank. Regions is also preparing to launch several new mobile products in early 2014, CoxRead More