Post Tagged with: "Federal Reserve"

Dwolla CEO: Faster Payments Offer ‘Substantial New Market Opportunities’

Dwolla CEO: Faster Payments Offer ‘Substantial New Market Opportunities’

by May 10, 2016 at 11:13 am 2 comments

It looks like this faster payments thing is going to happen after all. When the Federal Reserve floated the idea of faster payments in the U.S. in 2013, it seemed like a distant dream, The Fed itself announced a 10-year time horizon. But over the past week, proposals have beenRead More

BBVA Compass Introduces Multi-Check Deposit for Mobile

BBVA Compass Introduces Multi-Check Deposit for Mobile

by May 4, 2016 at 10:14 am 0 comments

Check use may be on the decline, but those little slips of paper don’t seem to be going away. In fact, in its latest iOS update, BBVA Compass, a digital-forward bank, essentially doubled down on checks. The latest app update (v. 4.6) from BBVA Compass offers up a more robust remote-deposit capture.Read More

Will Realtime Payments Bring Real Money for Banks?

Will Realtime Payments Bring Real Money for Banks?

by April 20, 2016 at 4:49 pm 4 comments

Should consumers and businesses pay for realtime payments or not? This difference of opinion is apparently creating some “discord” in the clearXchange network between the first two active members: U.S. Bank and Bank of America. Speaking to investors this morning, U.S. Bank CEO Richard K. Davis spoke on the importance ofRead More

Millennials’ Mobile Banking Usage Is Now Close to 70%

Millennials’ Mobile Banking Usage Is Now Close to 70%

by March 30, 2016 at 11:04 am 2 comments

For Gen Y, the rallying cry was, “I want my MTV.” For Millennials, the cry might as well be, “I want my mobile banking.” About 67% of Millennials now use mobile banking, according to a study released today by the Federal Reserve. This compares to 18% for those consumers aged 60Read More

Marketplace Lenders Win 20% of Small Business Loan Apps, Fed Says

Marketplace Lenders Win 20% of Small Business Loan Apps, Fed Says

by March 23, 2016 at 10:34 am 3 comments

Marketplace lending has siphoned a notable share of small business lending, new research shows. According to a little-noticed report from the Federal Reserve Bank of Richmond, fully 20% of all small business loan applications are now being originated by marketplace lenders. And in loans to companies that have less thanRead More

Dwolla Is ‘Happy to Be the Pipes’ of the Payment System

Dwolla Is ‘Happy to Be the Pipes’ of the Payment System

by September 3, 2015 at 12:17 pm 2 comments

Not so long ago bankers feared that fintech insurgents like Dwolla wanted to turn FIs into “dumb pipes” moving money around while the fintechs would own the customer experience. Payments platform Dwolla, for one, has moved past wanting to own the customer. “We’re happy to be the pipes,” CEO BenRead More

Alerts Grow in Importance as Mobile Banking Feature [VIDEO]

Alerts Grow in Importance as Mobile Banking Feature [VIDEO]

by March 27, 2015 at 10:22 am 1 comment

Alerts, also known as push notifications, are the third most popular use of mobile banking apps, according to a report from the Federal Reserve Board released today. More than half of mobile users — 57% — received alerts from their bank in 2014. These notifications can take the form ofRead More

Mobile Banking Usage Continues to Climb, Fed Says

by March 26, 2015 at 11:25 am 2 comments

Mobile banking usage continues to advance in the US, with fully 39% of adults “with mobile phones and bank accounts” using mobile banking, up from 33%, the Federal Reserve reported today. This is the Fed’s fourth annual review of mobile banking in the nation. Here’s an excerpt from the report:Read More

Welcome to the Internet of Value

Welcome to the Internet of Value

by March 3, 2015 at 9:54 am 3 comments

SEATTLE — First, there was the Internet of Information. Then, presumably and as yet not fully realized, the Internet of Things. Next comes the Internet of Value. In a prescient presentation here at Bank Innovation 2015, Chris Larsen, the founder and CEO of Ripple Labs, described a future where valueRead More

Big Banks Coming to NYC Next Week to Flesh Out Faster Payments

Big Banks Coming to NYC Next Week to Flesh Out Faster Payments

by February 19, 2015 at 4:50 pm 0 comments

Representatives of the 24 banks that collectively own The Clearing House Payments Co., the oldest banking and payments association in the United States, will meet in New York next week to discuss faster payments, according to a representative of one of the member banks. The meeting next week, which isRead More