Top fintech stories this week – 25 January 2019
Catch up on FinTech Futures’ top five fintech stories of the week – all in one place!
Bank of America
Bank of America embarks on corporate banking tech modernisation
EXCLUSIVE. A major revamp with Infosys’ Finacle, it is understood.
US bank customers enter Glassbox’s digital world of pane
Clever customer management for JP Morgan Chase, Bank of America, Wells Fargo, and Citi.
Bank of America launches cross-bank feature for app
Available for associated banks: Bank of America, Merrill Lynch, Merrill Edge and US Trust.
Bank of America closing immigrants’ accounts
The bank is reportedly demanding an update in residence documents.
Blockchain and Bitcoin round-up: 5 February 2018
Includes Lloyds, Bank of America, JP Morgan, Facebook and DeVere Group.
Where top US banks are betting on fintech – CB Insights
Research company CB Insights has mapped out where the top ten US banks are investing in fintech.
Earnings Roundup: Amex, BofA, Blackhawk, Visa
It was a busy week for second- and fiscal third-quarter earnings reports, with American Express, Bank of America and Visa all beating Wall Street expectations, and Blackhawk Network, which also beat analyst predictions, talking international growth, double-digit digital gift card sales and new partner Target set to roll out in Q3.
BofA Simplifies Money Management for Customers Using Third-Party Apps
Bank of America is testing a service enabling its customers who use third-party data aggregators to view their financial information in one place. BofA is testing the capability with two financial data aggregators to enable customers to securely connect data from their bank accounts to third-party money management apps.
P2P rising: new study points to a market on the verge of major growth
P2P payments are proving a big hit with younger consumers.
U.S. Credit Cards Gain Ground on Debit, Prepaid, Nilson Says
The U.S. purchase volume of credit, debit and prepaid cards increased 7 percent in 2016 compared with last year, according to The Nilson Report. That purchase volume hit $5.648 trillion last year, with the volume from American Express, Discover, Mastercard, and Visa credit cards increasing 8 percent year over over to reach a combined $3.059 trillion—the first time that figure has topped $3 trillion.
Zelle Makes Presence Known in P2P Arena
The recent performance of Zelle Network, the P2P payments platform with the funny name, is no laughing matter for competing P2P providers. Early Warning Services, a provider of real-time payments, authentication and risk mitigation services, announced April 17 that its Zelle Network processed more than 170 million P2P payments in 2016, totaling $55 billion in transaction value.
Servion: FIs Must Bank on Latest AI for Customer Service
Banks that aren’t proactive in adopting the latest artificial intelligence technology for customer service risk losing those customers. That’s because many online-only banks and others are investing in automated assistants that improve customer interactions by predicting why customers are contacting the bank and resolving the issue quickly.
