Scott Totman, head of mobile technology, payments, and innovation at Capital One, will join the Proof of Concepts panel at Bank Innovation in Seattle on Feb. 29. The panel touches on what is perhaps the central theme of the conference — how do banks and fintech startups work together?
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Which banks made us laugh, or cry, or just think deeply this year? As Bank Innovation does annually, we rate the Top 20 banking video ads of the year. The videos here are unscientifically ranked according to our personal preferences (hey, no one ever said this was fair). Is your favorite videoRead More
Navy Federal Credit Union recently released an updated mobile app that does, well, pretty much everything. Call it the “kitchen sink” update. Released Nov. 18, the updated 5.0 version of the app puts the country’s largest credit union on par — if not slightly ahead of — the largest banks in termsRead More
Bank wallets continue to gain ground and add functionality the tech giants will have trouble replicating. Capital One led the way by enabling POS transactions from its mobile app, and JPMorgan Chase followed up with an announcement of Chase Pay, expected in mid-2016. But today BBVA Compass announced the realtime redemptionRead More
Early Warning, the bank security consortium that last month combined with clearXchange, appears set to relaunch its payments service as SecureExchange. ClearXchange is the stuttering P2P payments network launched by several major banks, including Bank of America and Capital One Financial Corp., in 2011. Bank of America, for example, went live withRead More
As the EMV liability shift approaches, the pressure is on both retailers and banks. Retailers need to upgrade their point-of-sale equipment, while banks need to get chip cards in the hands of customers. Chip card technology and the encryption that protects its transactions, will be the foundation of all future payments, accordingRead More
It’s become a quarterly ritual: Capital One CEO Richard Fairbank eloquently speaking to the importance of digital banking. We’re not complaining — Fairbank is right, and other bankers should be listening. On yesterday’s earnings call for the McLean, Va.-based bank, Fairbank called digital “a centerpiece of that entire strategic agenda.”Read More
Capital One is the latest big bank to produce a video explaining chip cards, also known as EMV cards (it stands for Europay MasterCard Visa) to the American public. Good luck, guys. The video was released Friday. USAA and US Bank videos covering the same subject appeared this spring, butRead More
Small businesses are classically underserved by banks — or so the story goes. But a closer look at the small business space shows banks are stepping up partnerships with startups targeting the space, and are adding new services and improving existing services for small businesses in general. Just last week, for example, JPMorgan ChaseRead More
A modest-sized Boston bank is starting to incubate fintech startups. Eastern Bank, a $10 billion bank, is about to launch its first separate company, which was incubated and developed within the bank itself, Bank Innovation has learned. In early 2014, Eastern Bank, a mutual bank based in Boston, hired entrepreneur DanRead More
How will banks compete in a rapidly digitizing world? Capital One CEO Richard Fairbank knows. “We’re going to need to think more like technology companies and maybe a little less like banks,” he told investors on yesterday’s earnings call. His bank is notable for its high-profile acquisitions of not other banks,Read More
Capital One Financial Corp. is a major sponsor of March Madness again this year, along with Hershey and Coca-Cola, among others, and its marketing has begun to hit the airwaves. This year’s ad series, which started running on YouTube and television screens late last week, features Charles Barkley on a road trip with SpikeRead More