An app is no longer a “nice to have”. As consumers expect businesses to engage with them at the right time, in the right manner, and over the right channel, a bank’s mobile app will be a crucial first point of contact for many customers. But it’s important to remember that an app by itself is not some wonder-cure that will instantly give a financial organisation perfectly satisfied customers.
IBM’s MobileFirst for iOS apps will be used by Santander as the bank looks to revamp its digital banking services and help its employees work better. The custom-built, native apps made for iOS will be rolled out across more than 11,000 iOS devices, and will be used by Santander’s commercial network employees, including those supporting […]
Credit Union of Southern California, Brazosport Teachers Federal Credit Union and Rosedale Federal Savings & Loan Association are undergoing tech modernisation.
Mastercard significantly will expand the scope and capabilities of its Qkr with Masterpass mobile payment service, the network said Feb. 27. Not only is the technology set to debut in the U.S. and five other countries, but it will now integrate with retail software provider Oracle.
Turkey’s largest bank Isbank is partnering with PPRO Group for cross-border payments in more regions. The deal means the bank can offer e-commerce merchants 13 local alternative payment methods worldwide. Isbank says it can now also extend access to real-time online banking payment methods and e-wallets in more than 25 countries in Europe, Asia and […]
The payments industry invitation to merchants to play a bigger role in innovation seems serious and pragmatic, writes our senior editor, an e-commerce expert.
Bank of America has chosen the person-to-person (P2P) Zelle service within its mobile banking app as part of its digital drive. Zelle will let clients send, receive and request money, allowing them to use the existing contacts on their mobile device to transfer money to (or request money from) “almost anyone within minutes, regardless of […]
Mogo, a Canada-based fintech firm, has launched what it describes as the country’s first prepaid digital spending account managed through a mobile app, reports Banking Technology‘s sister publication Paybefore. The debut of the Mogo Spending Account and the Mogo Platinum Prepaid Visa comes amid robust growth in prepaid transactions in Canada. The full-service GPR card […]
Technology may rule the world, but human connection is still king.
To raise awareness about online and mobile banking and help customers use digital platforms, NatWest and Royal Bank of Scotland (RBS) say they aim to deploy a “TechXpert” at every branch in England, Scotland, and Wales. NatWest is part of the RBS group, and at 1,000 NatWest and 2,000 RBS branches, these experts will help […]
Mahindra Comviva has launched Payplus Aadhaar Pay, a merchant payment acceptance solution, as it targets the rural areas of India. The Aadhaar infrastructure, created by the Unique Identification Authority of India (UIDAI), onboards customers and provide them with online services. UIDAI collects the biometric and demographic data of residents, stores them in a centralised database, […]
Mogo, a Canada-based fintech firm, has launched what it describes as the country’s first prepaid digital spending account managed through a mobile app. The debut of the Mogo Spending Account and the Mogo Platinum Prepaid Visa comes amid robust growth in prepaid transactions in Canada.
One is the loneliest number that you’ll ever do… so three stories in one will do better. Here’s a round-up of key events to save you time. Featuring Macquarie Bank, Apple Pay and more. The European Banking Authority (EBA) has relaxed its planned rules for increasing choice in how consumers pay for services and products […]
No more “one and done.” That’s central to Cachet Financial Solutions’ mission for its prepaid clients and was the impetus for platform upgrades that were nearly a year in the making. Paybefore spoke with Walt Granville, senior vice president of mobile innovation, about what’s resonating with clients and how Cachet is using optimized mobile apps to help them fight churn.
The Chicago-based startup enables consumers to easily purchase and redeem e-gift cards right from their smartphones, essentially turning unwanted e-gifts into a convenient and useful form of digital currency.
Kenya Bankers Association (KBA) has launched its real-time interbank switch, PesaLink, and kicked off a phased rollout of the digital payments platform. The product has been in the making since 2013, when KBA member banks decided to create their own industrywide switch to rival the M-Pesa services. KBA vice-chairman John Gachora says PesaLink is “proof […]
Chase is planning to launch a new self-service mortgage platform for its 43 million digital users, and will allow customers to digitally track their application – from start to finish.
Nordea Liv, a life insurance arm of Nordea, has worked with Norwegian fintech start-up Spiff to create a new app that will motivate customers to save money to reach goals.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
The mobile payment market is getting more congested every day. For banks, it’s the most frequent touchpoint – one that can help (re) establish everyday relevance and drive engagement. How can banks develop their strategy and prioritise the capabilities that will help them remain valuable to their customers?
Fintech start-up Bankjoy has signed three credit unions for its digital banking software: CommunityWide Federal Credit Union in Indiana; Advantage Plus Federal Credit Union in Idaho, and One Detroit Credit Union in Illinois.
More than 5 million U.S. millennials don’t have a checking account, and a third say payroll cards would be a valuable way to receive wages. With their distaste for traditional bank accounts and high level of interest in payroll cards, millennials represent a natural and significant market opportunity.
With mobile money technology widely available, and so many citizens having access to a mobile phone, how many are actually banking in this way? What are the benefits available to them when using mobile money? And what does the future hold for this fintech innovation?
US-based mobile banking firm Virtual Piggy will soon begin testing a mobile wallet for consumers aged 17 and younger, the latest move in the parent-supervised world of mobile payments, reports Banking Technology‘s sister publication Paybefore. The test, set for April, will involve a mobile payments platform that enables parents to supervise spending by their children. […]
Pay Award-winning Virtual Piggy said Feb. 14 it soon will begin testing a mobile wallet for consumers age 17 and younger, the latest move in the parent-supervised world of mobile payments.
Santander has become the first bank in the UK to allow customers to make payments using their voice. As Banking Technology reported in March 2016, Santander said it was the “first” bank in the UK to launch voice banking technology. Phase one enabled customers to talk to their Santander SmartBank app and ask about their […]
Four big Australian banks haven’t given up the fight to convince the country’s antitrust regulator that they get some concessions from Apple over Apple Pay. With a decision due in a few weeks, the Commonwealth Bank of Australia (CBA), National Australia Bank (NAB), Westpac, and Bendigo and Adelaide Bank may have made their final submission […]
Last week’s FinovateEurope was full of the broad range of exciting and innovative companies that we have come to expect at the show. Although the 72 companies showcasing their solutions operated right across the fintech landscape, they all sing from a common hymn sheet of improving the customer experience.
Start-up DiPocket has unveiled its new mobile banking app, which is not dependent on third party IT systems but built on its own platform. As well as “challenging” the traditional high street banks with its technology, DiPocket thinks it “has a thing or two to teach other ‘neo-banking’ start-ups”. Fedele Di Maggio, CEO and co-founder […]
Turkey’s largest bank Isbank and its tech partner Monitise have launched a money transfer service via Apple’s iMessage – a first in the republic. Using Isbank’s new mobile banking app, IsCep, users are now able to request and send money through iMessage. As Banking Technology reported in January, IsCep also allows “for the first time” […]
In-app payments are cannibalizing more traditional payments.
Reloadable prepaid cards are a hit with Canadian consumers, with 95 percent of them saying they are satisfied with the products in 2016. That represents an increase of 22 percentage points from 2015, and stands as the highest satisfaction rate for all payment tools, according to the second annual survey from the Canadian Prepaid Providers Organization.
PayPal has a new pal—namely its first bot that enables Slack users to move and manage their money in a conversational and casual style. The PayPal bot is available to 5 million Slack users in Australia, Canada, the U.K. and the U.S.
BankUP, a new fintech venture based in Kontich, Belgium, looks to tap into the European SME banking market.
BNP Paribas has unveiled a new 2017-2020 business development plan – building the bank of the future. €3 billion will be invested in the programme.
In yet another sign that simplifying checkout for consumers is key to driving e-commerce payments, Amazon on Feb. 7 said that more than 33 million consumers have used its Amazon Payments service since its launch in 2013—and that the volume of payments “nearly doubled” in 2016 compared with the previous year. But don’t count on the e-commerce giant to be content with online payments alone.
Fire Financial Services – now trading as Fire – has launched and is targeting the UK and Irish markets with a digital account. Colm Lyon, founder and CEO at Fire, says: “It has taken some time for us to reach this day – several years of trying and getting it wrong.” Now the business has […]
CaixaBank’s mobile-only bank, imaginBank, has unveiled a chatbot to help millennials find offers and promotions most relevant to them, based on their preferences or location. Powered by artificial intelligence (AI), the chatbot will be available to users via Facebook Messenger on imaginBank’s Facebook page. Launched in January 2016, imaginBank is a 100% digital and mobile […]
Modern banking is not limited to banks anymore. It’s not only about online or mobile banking, it’s about all the things you would do in your banking system, but now you can do in apps or other solutions provided by third parties, not banks. Payments are one of such functionalities.
Fintech zeitgeist! Welcome to the third in a new series of brief reports. Every Monday, we might look back at last week; look ahead to this week; share a few thoughts (our own or others); or discuss anything that catches our eye. This week we welcome the views of guest writer Soumik Roy on India’s latest budget and its implications for e-payments and digital economy.
