Scotiabank, Fifth Third, SunTrust: Amazon, Apple inspiring UX

November 11, 2019 at 10:32PM The popularity of Amazon Prime and Apple is forcing bankers to rethink user experiences, industry practitioners said at Bank Innovation Build. With the growing adoption of digital banking platforms, user experience specialists said human experiences should underpin digital product roadmaps, with technology performing a supporting role. “Technology is an enabler, … Continue reading Scotiabank, Fifth Third, SunTrust: Amazon, Apple inspiring UX

[Discussion] our financial institution has indicated that it could not successfully authenticate this transaction. To protect against unauthorized use, this card cannot be used to complete your purchase. You may complete the purchase by attempting to authenticate again or by using a different credit or debit car

November 11, 2019 at 10:50PM hello, am on e ticketing using a mastercard and it is giving me this error shut the window down a few times and its still giving me this error, help would be much appreciated submitted by /u/eunan2002 [link] [comments] via Savings, Checkings, CDs, oh my! http://bit.ly/2Kcf23P

Community Bankers Flag CECL, Fintech as Top Concerns in Recent Interview

November 11, 2019 at 09:33PM The Financial Accounting Standards Board’s current expected credit loss standard is among the top issues keeping community bank CEOs up at night, according to an American Banker article published today featuring interviews with several members of ABA’s Community Bankers Council. The post Community Bankers Flag CECL, Fintech as Top Concerns … Continue reading Community Bankers Flag CECL, Fintech as Top Concerns in Recent Interview

ABA Survey: Credit Quality Tops List of Concerns for Ag Lenders in 2019

November 11, 2019 at 09:26PM With the farm economy in the midst of a prolonged downturn, the primary concern among ag lenders in 2019 was credit quality and the deterioration of agricultural loans, according to the latest agricultural lenders survey conducted by the American Bankers Association and Farmer Mac. The post ABA Survey: Credit Quality … Continue reading ABA Survey: Credit Quality Tops List of Concerns for Ag Lenders in 2019

In response to challengers, Green Dot is growing its platform business

November 11, 2019 at 08:24PM With digital-only banks picking up millions of customers, Green Dot is focusing on the diversification of its offerings to clients. As banking startups build their customer bases, the company is focusing on banking-as-a-service products; growing Green Dot’s digital banking brand Unlimited; and adding large-scale brand partnerships. CEO Steve Streit told … Continue reading In response to challengers, Green Dot is growing its platform business

New ABA Foundation Infographic Provides Tips to Protect Veterans from Phone Scams

November 11, 2019 at 06:49PM A new infographic from the American Bankers Association Foundation, Association of Military Banks of America and the Better Business Bureau provides tips for veterans, active duty servicemembers and their families on how to protect themselves from financial scams targeting the military. The post New ABA Foundation Infographic Provides Tips to … Continue reading New ABA Foundation Infographic Provides Tips to Protect Veterans from Phone Scams

Fed Proposes 18-Month Extension for Single-Counterparty Credit Limit Final Rule

November 11, 2019 at 05:56PM The Federal Reserve Board on Friday issued a proposal to extend the deadline for its final rule limiting the amount of credit exposure that foreign banking organizations can have to each other and to other counterparties. The post Fed Proposes 18-Month Extension for Single-Counterparty Credit Limit Final Rule appeared first … Continue reading Fed Proposes 18-Month Extension for Single-Counterparty Credit Limit Final Rule

Banking tech could lead to discrimination, says ex-regulator

November 11, 2019 at 04:23PM Banks can now more accurately identify ‘unprofitable’ or costly customersAdvances in banking technology are putting vulnerable customers at risk of discrimination, a former City regulator has said.Mick McAteer, a former board member at the Financial Conduct Authority, said lenders and insurers were gaining access to tools to more accurately identify … Continue reading Banking tech could lead to discrimination, says ex-regulator

Fintech Talents 2019: Bank leaders still struggling with digital transformation

November 11, 2019 at 03:00PM Redesigning a bank for the 21st century is a process that many banks and their leaders are still grappling with as they try to kick a habit of focusing on traditional success factors like net interest income. Locsin believes banks have yet to see the full platform benefit That’s according … Continue reading Fintech Talents 2019: Bank leaders still struggling with digital transformation

Viral tweet about Apple Card leads to Goldman Sachs probe

November 11, 2019 at 02:46PM A Wall Street regulator is opening a probe into Goldman Sachs Group Inc.’s credit card practices after a viral tweet from a tech entrepreneur alleged gender discrimination in the new Apple Card’s algorithms when determining credit limits. A series of posts from David Heinemeier Hansson starting Thursday railed against the Apple Card … Continue reading Viral tweet about Apple Card leads to Goldman Sachs probe

Fintech Talents 2019: Banks must grab digital opportunity

November 11, 2019 at 02:35PM Banks aren’t going away any time soon, according to a zeitgeist-busting industry panel, but the models through which they interact with their customers must undergo some fundamental changes over the next dozen years. The panel included two banks, two challengers, and a tech giant For Josh Bottomley, global head of … Continue reading Fintech Talents 2019: Banks must grab digital opportunity

[Discussion] API to get required banking transfer information per country or bank

November 11, 2019 at 01:33PM Hello everyone, I am searching for an API to be able to present adequate local banking transfer information to a user, after he selects a currency and a country. E.g, if US and USD, a routing and account number will be required. If Germany and EUR, an IBAN and Swift … Continue reading [Discussion] API to get required banking transfer information per country or bank

Banco Inter plans super app to boost borrowing

November 11, 2019 at 12:06PM Brazil’s Banco Inter SA is tapping into digital lifestyle trends in order to bolster its loans business, writes Jane Connolly. Banco Inter plans to launch a ‘super app’ later this month. Reuters reports that the bank plans to launch a ‘super app’ later this month, which will offer customers a … Continue reading Banco Inter plans super app to boost borrowing

Agility and choice through integration

November 11, 2019 at 11:00AM SPONSORED INSIGHTS Integration makes light work of innovation Given today’s disruptive technology landscape, financial product providers should make the most of the flexibility and speed offered by integration. DPR has been at the forefront of retail finance technology and services for over twenty years and our vast network within the … Continue reading Agility and choice through integration

Interac acquires Ottawa-based digital security company 2Keys

November 11, 2019 at 10:54AM Canadian interbank network, Interac, has signed a deal to acquire Ottawa-based digital security firm 2Keys, according to The Canadian Press. The acquisition will see 2Keys and its approximately 100 employees join Interac and play a critical role as Interac supports the future of digital ID and commerce by providing Canadians … Continue reading Interac acquires Ottawa-based digital security company 2Keys

Wells Fargo ordered to pay USAA $200m for infringed payments patents

November 11, 2019 at 09:00AM A Texan district court has found that Wells Fargo “wilfully infringed” on two patents filed by the United Services Automobile Association (USAA), and has awarded the latter $200 million in damages. USAA wanted $300m in the original filing The patents, which focused on making cheque deposits made with mobile devices … Continue reading Wells Fargo ordered to pay USAA $200m for infringed payments patents

JP Morgan invests in research filter solution for FIs Limeglass

November 11, 2019 at 08:30AM Segmentation tool for financial research Limeglass has announced an undisclosed investment from JPMorgan. The London-based start-up says it automatically analyses paragraphs in research documents “in real-time”, atomising and filtering it to guide the reader to relevant information. CEO Rowland Park: “Limeglass cuts through the noise” The solution uses artificial intelligence, … Continue reading JP Morgan invests in research filter solution for FIs Limeglass

Failed London Stock Exchange bid costs HKEX $16m

November 11, 2019 at 08:00AM Hong Kong Exchanges and Clearing (HKEX) has revealed that its failed bid for the London Stock Exchange (LSE) cost it $16 million. LSE failed to entertain HKEX’s offer A majority of the losses were down to fees paid to consultants advising the exchange’s ambitious bid to create a worldwide capital … Continue reading Failed London Stock Exchange bid costs HKEX $16m

Canadian AI search tool Coveo raises $172m to hit unicorn status

November 11, 2019 at 07:30AM Canadian AI-powered predictive search tool Coveo has raised CAD $227 million (US $172 million), sending it to unicorn status at a valuation “well above” US $1 billion according to its CEO, TechCrunch reports. “I don’t like unicorn because a unicorn is a mythical creature,” Coveo’s CEO Louis Tetu tells Financial … Continue reading Canadian AI search tool Coveo raises $172m to hit unicorn status

Ecommerce insurtech Cover Genius raises $10m in Series B round

November 11, 2019 at 07:00AM Australian ecommerce insurance provider Cover Genius has raised $10 million in a Series B funding round to fund further growth into the UK, the US and Asia. The round was led by US-Australian venture capital firm King River Capital, with participation from UBS Investment Bank’s vice chairman Jasper Tans, New … Continue reading Ecommerce insurtech Cover Genius raises $10m in Series B round

Nordea’s chief digital officer quits ahead of bank’s next digital phase

November 11, 2019 at 06:30AM Nordea’s chief digital officer (CDO) Ewan MacLeod has announced his departure from the financial services group, citing “the next phase” of the bank’s digital journey as “the right time” for him to leave. The bank is currently undergoing a front-to-back office digital transformation. Since 2015, with the help of its … Continue reading Nordea’s chief digital officer quits ahead of bank’s next digital phase

Visa invests in ultrasonic payments firm Lisnr

November 11, 2019 at 06:00AM Visa has become the latest investor in data transmission firm Lisnr, which offers an ultrasonic alternative to near-field communication (NFC) and QR codes. Lisnr aims to usurp QR codes and NFC Cincinnati-based Lisnr revealed this week that Visa had participated in its closed Series C venture capital fundraising. The two … Continue reading Visa invests in ultrasonic payments firm Lisnr

Three key steps that can put banks ahead in the sustainability revolution

November 11, 2019 at 05:00AM There’s been a fundamental shift towards more green-conscious habits in many parts of society – from cutting back on the amount of plastic and taking public transport when possible to choosing brands that use sustainable materials and offer ethically manufactured goods. This change in consumer behaviour is not just having … Continue reading Three key steps that can put banks ahead in the sustainability revolution

[Discussion] Requesting advice and recommendations for financing/pre-approval for purchasing a vehicle out of state from an individual.

November 10, 2019 at 07:48PM Hi all. I’m looking for advice/recommendations regarding financing a vehicle out of state from an individual. I spoke with my local credit union about pre-approval and they said that financing a vehicle out of state from an individual is complicated and implied that the seller will need to visit the … Continue reading [Discussion] Requesting advice and recommendations for financing/pre-approval for purchasing a vehicle out of state from an individual.

TSB ‘may close up to 100 branches and put 400 jobs at risk’

November 10, 2019 at 06:06PM Exclusive: bank seeking £100m in cost savings in wake of IT meltdown last yearTSB is considering closing up to 100 branches, according to a trade union source, in a move that could put 400 jobs at risk. The challenger bank has been working to repair its reputation following its IT … Continue reading TSB ‘may close up to 100 branches and put 400 jobs at risk’

UK challenger Cato Banking opens waiting list ahead of 2020 launch

November 10, 2019 at 11:00AM The UK challenger bank scene is set to gain another entrant, as Cato Banking prepares for a 2020 launch by opening its waiting list. Simon Phillips, Cato Banking Formerly known as MoneySmrt, Cato is an offshoot of Money Global Limited, a financial technology and services provider led by CEO Simon … Continue reading UK challenger Cato Banking opens waiting list ahead of 2020 launch

Immersive Labs lands $40m investment round, opens Boston office

November 09, 2019 at 11:00AM UK-based cybersecurity skills platform Immersive Labs has raised $40 million in its Series B round led by growth equity investor Summit Partners. Alongside participation from existing investor Goldman Sachs, the 2017-founded start-up says it will use the investment to expand in North America from its new headquarters in Boston, where … Continue reading Immersive Labs lands $40m investment round, opens Boston office

[Discussion] HOW DO I USE THIS DATA TO MONETISE.

November 09, 2019 at 10:51AM My Potential client forwarded me his website: http://www.worldfinancialdata.com He asked me how can I Help him to monetise his website data. How can this data be useful for anyone into Finance sector or economics sector. Is this data valuable? Who can actually use this data? Bank, Companies, Govt, Students for … Continue reading [Discussion] HOW DO I USE THIS DATA TO MONETISE.

Halifax, why are you treating older customers so shabbily?

November 09, 2019 at 07:00AM Some of the excuses for home insurance price increases are preposterousIn September, Michael Goulding visited his parents-in-law in Birmingham, who live in a modest semi-detached house. They are pensioners, both in their 90s, and asked Michael to take a look at their home insurance, which was worrying them. They had … Continue reading Halifax, why are you treating older customers so shabbily?