Zelle, the peer-to-peer payments platform formerly known as clearXchange, will put customers back in banks’ hands, PNC CEO Bill Demchak said Friday. P2P has been a notable success of nonbank players such as PayPal, which offers a host of consumer-facing payments products, perhaps most notably Venmo. In October, PayPal CEORead More
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Charlotte, N.C.-based Bank of America has passed the 20 million mark in active mobile users. No announcement was made, but a spokeswoman for the bank disclosed to Bank Innovation yesterday that the milestone has been crossed. The bank reported 19.6 million mobile users last April in its 1Q earnings report, and quarter-over-quarterRead More
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
TD Bank has started to hit the road. The bank a few weeks ago unveiled a new “mobile banking center” down in Florida, which is really a bank-in-an-RV. TD told Bank Innovation that the mobile center has been a success and that “The Florida roll-out has shown the mobile centerRead 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
BIAN is trying to build the perfect bank. This week BIAN, which stands for the Banking Industry Architecture Network — will release version 3.0 of its Service Landscape, a “bank on paper” that covers all the major business processes of a bank — some 280 at this point. The organization hasRead More
PNC announced that 30% of its deposits come through the ATM and mobile channels in its earning call today. The Pittsburgh-based bank does not distinguish between ATM and mobile in public announcements, so it is hard to tell what this means for the bank’s digital channels. This rate is “almostRead More
Big banks’ reputations are improving, according to Rocky Clancy, VP of financial services with J.D. Power & Associates. One reason is the move to digital and the other is that big banks, notably PNC Financial Services and JPMorgan Chase, have “doubled down” on the customer experience, according to Clancy.
PNC Bank is enjoying massive substantial growth in its non-branch deposit transactions. In its third quarter 2013 earnings report released today, PNC Bank disclosed that the bank’s out-of-branch deposit transaction volume grew 68% over last year. This growth in mobile/ATM deposits — the two are not broken out by the bankRead More
Nuance, a maker of voice and imaging solutions, has secured new business with a number of banks including PNC Bank, Banco Santander (Spain), Barclays (UK), Garanti Bank (Turkey), and USAA. The announcement was made during the Burlington, Mass.-based company’s third quarter earnings report yesterday. Nuance’s third quarter ended June 30,Read More