Many banks have them. Many banks spend money on them. Nearly all of those banks ignore them. The “them” is text banking apps, and the degree to which they have been marginalized baffles me. Earlier this week, I asked a top innovation executive at one of this nation’s largest financialRead More
Post Tagged with: "text banking"
Bank Innovation INV, this blog’s fintech accelerator, is pleased today to announce the six extraordinary startups that have been admitted to its inaugural class. The companies selected from applications received from startups around the world are: CrossCues Dyme GoldBean Hermetic Security Spare We Are Briqs The companies, chosen after a comprehensiveRead More
Bank of America Corp. has quietly expanded its text banking service — yes, text banking service — to “support” at least three more telcos. Those telcos are Sprint, Boost, and Cincinnati Bell. BofA also added MetroPCS, which is a T-Mobile brand.
Wells Fargo & Company today introduced text receipts at its more than 12,000 ATMs across the nation. Wells, which says it is the first bank to offer the service, has made text receipts available to all Wells Fargo Online or Mobile Banking customers who provide their mobile phone number. Wells was theRead More
A new patent from Amazon for a mobile payment method that protects a user’s personal information was published by the U.S. Patent and Trademark Office yesterday. The payment method uses temporary identifiers and codes, and relies on text messages for transmitting information. Both parties to the transaction would need toRead More