Post Tagged with: "Wells Fargo"

Wells Fargo Scandal and the Creative Destruction 7 Act Play

Wells Fargo Scandal and the Creative Destruction 7 Act Play

by September 21, 2016 at 1:00 am 0 comments

Image source My eyes usually glaze over at headlines about Banks getting fined for yet another scandal. Yawn, just a cost of doing business, too much regulation, a few rogue traders, move on, nothing new to see here. But there was something different about the Wells Fargo story. This wasRead More

Wells Fargo Just Kicked Innovation in the Chin

Wells Fargo Just Kicked Innovation in the Chin

by September 19, 2016 at 10:03 am 0 comments

It is always doubly upsetting to see vulgar business behavior from a seemingly platinum-plated brand. We have certainly been among those that have lauded Wells Fargo & Co. in the past, praising its lab and innovation practices, its mobile banking growth, had its executives speaking at our events, and even namedRead More

The Most Talked-about Companies at Finovate Weren’t Onstage

The Most Talked-about Companies at Finovate Weren’t Onstage

by September 19, 2016 at 9:13 am 1 comment

The most talked-about companies at Finovate Fall 2016 weren’t even presenting on the stage at the New York Hilton last week. But they represent everything fintech innovators love to love and love to hate: The Succesful Disruptor and The Evil Bank. If Amazon was the North Star — a beacon of simplicity —Read More

Can Friends and Family Help Customers Save Money?

Can Friends and Family Help Customers Save Money?

by September 16, 2016 at 10:27 am 0 comments

Saving isn’t sexy, and more to the point, it doesn’t earn banks as much money as spending does–at least in today’s near-zero interest rate environment. The recent Wells Fargo scandal over unauthorized account openings and the fees that followed them shines a spotlight on a longstanding problem for retail banking: banksRead More

Wells Fargo Mobile App Still In Google Play’s Top 10, Despite $185M Fine

Wells Fargo Mobile App Still In Google Play’s Top 10, Despite $185M Fine

by September 14, 2016 at 10:18 am 0 comments

It shouldn’t be a surprise to see Credit Karma’s mobile app in this week’s top slot for finance apps on Google Play—finance-wise, that seems like the app to beat—but what is a little surprising is the continued reign of Venmo on the iOS side. PayPal’s P2P service app is on aRead More

Amazon, Wells Fargo End Their Summer Fling

Amazon, Wells Fargo End Their Summer Fling

by September 9, 2016 at 6:15 am 0 comments

Ah, it was just a summer fling. Amazon and Wells Fargo gave an unceremonious kiss-off to their student loan hookup this week, which would give Amazon Student Prime subscribers a 0.5% discount on student loans from the San Francisco-based financial behemoth. No one knows why the pair went their separateRead More

SMS No Longer Secure for 2-Factor Authorization

SMS No Longer Secure for 2-Factor Authorization

by July 27, 2016 at 2:38 pm 1 comment

It might be time to say goodbye to those text messages containing PINs to help you log into your favorite banking site. The U.S. National Institute of Standards and Technology (NIST) released a draft of its latest guidelines on digital authentication this week, and it contains a disturbing bit ofRead More

Wells Fargo Wallet Goes Live on Android (Sorry, iPhone Users!)

Wells Fargo Wallet Goes Live on Android (Sorry, iPhone Users!)

by July 19, 2016 at 4:45 pm 2 comments

Another bank is live with a digital wallet. Wells Fargo & Co. joins JPMorgan Chase and Capital One in launching a bank-branded mobile payment platform, or digital wallet. These instruments for making transactions via mobile phone are meant to compete with PayPal, which has been abuzz lately with rumors of a possibleRead More

Chase Outpaces Rivals in Mobile Banking Race

Chase Outpaces Rivals in Mobile Banking Race

by July 18, 2016 at 11:05 am 2 comments

JPMorgan Chase is winning the mobile game. Bank of America held its second-quarter earnings call today, and was the last of the nation’s largest banks to do so. Mobile is of interest on bank earnings calls primarily as a cost-saving measure, as digital customers are less expensive to serve. For instance,Read More

Chase to Launch Its Own P2P App

Chase to Launch Its Own P2P App

by July 15, 2016 at 11:21 am 1 comment

JPMorgan Chase & Co. building a peer-to-peer payment app featuring its QuickPay service, which is tied into the clearXchange network, CEO Jamie Dimon announced yesterday. Dimon did not say when the app would be launched, only that it “will be rolled out shortly.” Interestingly, Dimon seemed to indicate that JPM would make theRead More