Douugh Rises to Challenge with AI-Powered Banking
Banking challenger Douugh has unveiled its artificial intelligence-powered financial platform, guided by “Sophie”—a 24/7 personal assistant for finances.
Digital
Mind the reality gap fintech
A new survey has highlighted the differences between customer expectation and experience in the fintech industry, with many companies failing to deliver the value that consumers crave. It has also flagged up the low standing that CEOs have as credible sources of information. According to public relations (PR) firm FleishmanHillard Fishburn’s (FHF) “Authenticity Gap” survey, […]
Samsung’s Bixby AI expands to more countries
Look out Siri and Alexa, but Samsung says its artificial intelligence (AI) powered Bixby’s voice system has now expanded to more than 200 countries and territories. In addition to South Korea and the US, it is now available in the UK, Australia, Canada and South Africa, among others. As reported in March, Samsung unveiled the […]
Fintech funding round-up: 21 August 2017
A short time ago, in a round-up near here (i.e. 18 August) we covered the lively world of fintech funding. Yet again, we have more cash action. Featuring Xinja, Capital Float and Prodigy Finance. Australia-based Xinja, which recently emerged from the shadows to unveil its plans for a mobile-only digital bank, is in the news […]
Q&A with Mobey Forum’s ED Maikki Frisk
Six months after coming on board to lead the digital financial services trade association, Maikki Frisk talks about how to drive mobile payments adoption, the implications of Brexit and PSD2, and the ultimate importance of a good user experience.
Is fintech to banking what craft ale is to brewing?
Is fintech to banking what craft ale is to brewing? If so, what can banks learn from the rise and rise of craft ale? Aden Davies, principal consultant at ABZD, looks at ten trends seen in the craft ale industry that have interesting parallels with the rise of fintech.
Infographic: why your moat is no longer enough to protect your castle
In the 1600s, Spain built an impregnable defence system to protect the San Juan Bay in Puerto Rico. This defence in-depth system fortified San Juan with three lines of defence, marking a high point in military engineering for the time period. A similar model could be used to protect your institution’s account holders from today’s cyberattacks. But with 15.4 million Americans falling victim to identity fraud last year, three lines of defence are no longer enough.
Top 5 Best Challenger Banks: Revolut
Last month, we asked Paybefore.com visitors to vote for the Best Challenger Banks—the ones shaking up the status quo with a legit chance to become consumers’ preferred accounts, not just a stepping stone to the big banks. For the next few weeks, we’ll be sharing our spotlight articles on these challengers. First up is Revolut.
Top fintech stories this week – 18 August 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Physical containers – reused in novel ways. Does that include nextgen branch offices?
With standards as simple as what we see with shipping containers, creative folks will begin considering options for almost anything that can benefit from these containers being mobile. The user experience that today we enjoy with mobile devices has changed the very heart of today’s data centre even as we see on-premise IT moving to clouds. Couldn’t a case be made that such flexibility be embraced even more aggressively in the future and couldn’t that change the very way we view banking as it continues to transform?
P2P Payments Push Forward
In the P2P showdown, who will be left standing? See how early entrants like Venmo and Square Cash stack up against Zelle and Apple.
Urban FT throws Digiliti Money a life raft
Digiliti Money may be able to breathe a bit easier with a new acquisition offer on the table after a tumultuous few weeks.
White paper: digital trust is transforming online and mobile banking
Banks are beginning to re-align their internal processes and external-facing products to take advantage of, and more fully realize, the potential of digital transformation. One of the biggest challenges they come up against in this pursuit is how to balance customer experience and security. In other words, implementing a framework that accounts for all the […]
Industry bullish on promise of fintech – Opimas research
Market players are bullish on the near- and longer-term promise of fintech, according to new research by Opimas, “Fintech Spending and Innovation in Capital Markets”. In 2017, it estimates fintech spending across all capital markets participants to exceed $127 billion.
The app economy is real, because our time is just too important
Many famous faces have decorated our notes over the years, but just like the cheque, cold, hard cash is living on borrowed time.
Digiliti Money Delays Earnings Report, Weighs Sale, Chapter 11
Instead of reporting its second-quarter earnings today, Digiliti Money Inc. plans to file for an extension with the SEC after its accounting firm flagged problems with its previous financial reports, the company announced Aug. 14.
Infographic: creating millennium-friendly financial advising
People often need financial advice that’s best suited to meet their needs, which differ from one generation to another. You cannot expect millennials to consume the same financial advice as baby boomers. Times have changed, so financial institutions and experts also need to change their approaches to cater for the needs of a much younger clientele that’s distrustful of not only the government, but also financial institutions.
The Monday mindset: 14 August 2017
Fintech zeitgeist! This week, Banking Technology’s editor Tanya Andreasyan muses about the growing trend of celebrity endorsement in the fintech world.
Interview: Matteo Cassina, Saxo Bank – is digital banking the new Big Brother?
Amid the hustle and bustle of MoneyConf in Madrid, Banking Technology managed to grab a coffee with Matteo Cassina, global head of sales at Saxo Bank. Conversation turned from the demise of bank branches to the rise artificial intelligence (AI) and open banking.
Infographic: how serialised blockchain will revolutionise supply chain
This infographic, courtesy of Savi Technology, explains how blockchain links offer immutable, trackable parcels of data that can include “smart contracts”, instructions such as other transactions that will be triggered to perform automatically later.
WhatsApp to introduce payments feature
Facebook-owned messenger app WhatsApp submitted a new update through the Google Play Beta Programme, which will make payments available in the app’s new version.
Top fintech stories this week – 11 August 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
PayPal to buy Swift Financial to boost SMB lending
After a spate of recent partnership announcements to expand its acceptance network and P2P reach, PayPal is buying Swift Financial to boost its small business lending division.
Socure raises $14m in new funding
In a Series B round led by Commerce Ventures, digital identity verification specialist Socure raised $13.9 million in new funding. The investment, which also featured the participation of Flint Capital, Santander InnoVentures, Synchrony Financial, Two Sigma Ventures, and Workbench, takes Socure’s total funding to $27.5 million.
HSBC digitises global trade with IBM
HSBC and IBM are working on a project “to develop a cognitive intelligence solution combining optical character recognition with advanced robotics to make global trade safer and more efficient”.
Wirecard, Gambio Launch GambioPay for E-Merchants
Wirecard is expanding its collaboration with shop system developer Gambio to launch GambioPay, which the companies say simplifies payments processing and cuts costs for online retailers.
R3, CGI and eleven banks develop blockchain-based trade finance app
Following a year of development and testing, R3, CGI and eleven banks unveil a prototype of a trade finance app built of R3’s Corda distributed ledger technology (DLT).
Banking Technology Awards: how to write a winning entry?
With less than one month left to nominate for the Banking Technology Awards, now is the time to polish up on your entry. The question we get asked often is how to write a winning entry. Well wonder no more, we have a few tips for you on what to include. The more detail the better! Dates […]
Podcast: Amazon is everywhere
11:FS Fintech Insider podcast featuring FinTech Futures’ Tanya Andreasyan.
Payments round-up: 3 August 2017
Take the pain out of paytech with this brief round-up. Features Seven Bank, BDO Unibank, Earthport, Kotak Mahindra Bank, Payconiq and Digicash Payments.
Banking Technology Awards: celebrating people that make things happen
This year’s Banking Technology Awards will be taking place on 13 December in London and once again we will be celebrating people that make things happen! The Leadership Awards will recognise individuals and teams that made a considerable contribution to our industry. What are the categories you can nominate in? Woman in Technology (W.I.T.) Award, in partnership with FemTechGlobal, will […]
PayPal enables Skype app payments
PayPal is on a tear and looking to significantly boost its P2P payments volume through Venmo, which already posted 103% growth in the second quarter, reaching $8 billion, reports Paybefore, Banking Technology’s sister publication. The company has announced in a blog post that any of the more than one billion people who’ve downloaded the Skype […]
PayPal Doubles Down on P2P with Skype
PayPal is on a tear in terms of taking on new partners and is looking to significantly boost its P2P payments volume, which grew 103 percent in the second quarter, reaching $8 billion in Venmo transactions. The company announced in a blog post on Aug. 2 that any of the more than 1 billion people who’ve downloaded the Skype mobile app will be able use it to send money across borders.
Banks Look to Immediate Payments to Drive Revenue
Banks are investing in immediate payments to drive revenue, while focusing their IT investments on fraud prevention and operational efficiency, according to new benchmark data from ACI Worldwide and London-based consultancy Ovum.
Samsung shows how big its IoT aaS is
Samsung has launched its latest assault on the world of internet of things (IoT), launching a brokering service for hardware manufacturers and service providers on its Artik IoT platform, reports Telecoms.com (Banking Technology‘s sister publication). It’s a trend which we are likely to see more of as the digital economy takes hold, but Samsung has […]
New in regtech: digital ID verification
It’s no secret that increased regulations are a significant pain point for commercial and community banks. According to Thomson Reuters Global Cost of Compliance 2016 Survey, more than one-third of participating financial institutions reported spending at least an entire day each week keeping track of regulatory changes. The good news? Regtech, or regulatory technology, is […]
paysafecard Enters UAE to Enable Online Payments with Cash
Prepaid pioneer paysafecard, part of Paysafe Group plc, announced its entrance into the United Arab Emirates. With its flagship prepaid solution, paysafecard will enable consumers to pay cash at vending machines and in retail stores for a prepaid PIN they can use to shop online.
Kakao Bank attracts 820,000+ clients in four days since launch
Kakao Bank, one of South Korea’s first digital only banks, says it has attracted KRW 535 billion ($477 million) worth of business in deposits and loans in just four days since its launch.
Fintech earnings round-up: 31 July 2017
Several major payments companies have released Q2 earnings, including The Bancorp, Discover, Mastercard and PayPal. Overall, payments volume is on the rise and partnerships are proving particularly important for PayPal, which has been on tear with recent strategic announcements.
Earnings: Q2 Results for The Bancorp, Discover, Mastercard, PayPal
Several major payments companies released second-quarter earnings this week, including The Bancorp, Discover, Mastercard and PayPal. Overall, payments volume is on the rise and partnerships are proving particularly important for PayPal, which has been on tear with recent strategic announcements.
