Tag: technology

October 9, 2023

However, I feel it’s worth exploring whether the concept of digital transformation is redundant in the fast-paced and ever-evolving landscapes that we currently operate in. Below are some of the reasons why some could argue that digital transformation is an […]

August 17, 2023

Would you entrust your savings to Elon Musk? The question may seem hyperbolic, but essentially, that’s the multi-billion dollar query at the heart of Musk’s “everything app” vision, that he’ll be able to convince millions, even billions of people to […]

March 10, 2021

Merchant acceptance of Chase Pay hasn’t increased as the bank expected. Fewer than 1% of online merchants accepted JPMorgan’s digital wallet as of mid-2019, according to a PYMNTS.com study. By comparison, about 40% of top retailers offer Apple Pay on […]

March 5, 2021

PayPal has been one of the few benefactors of the COVID-19 landscape, as consumers were forced to pivot from in-person contact and conduct most transactions virtually. But the company isn’t lowering its expectations as the end of the pandemic grows […]

February 25, 2021

When JPMorgan Chase’s blockchain unit, Onyx, wanted to test payments capabilities between digital devices, it thought big. Like, universe big. “The idea was to explore [Internet-of-Things] payments in a fully decentralized way,” Onyx CEO Umar Farooq told Reuters. “Nowhere is […]

November 18, 2020

Alphabet’s Google (GOOGL) – Get Report said it expanded its Google Pay app to enable users to open back accounts, pay friends and manage budgets. The updated application debuted Wednesday. Alphabet partnered with Citi (C) – Get Report and Stanford […]

November 1, 2018

It’s an old phrase but still rings true today: An organization thrives when you get the right people in the right jobs. That’s easy to say, but not always easy to do. Future leadership in banking is of great concern […]

May 29, 2018

Automation is a common buzzword these days in the financial services industry. What does it really mean for your business, and how far can you take automation through your credit origination process? We have compiled the top five benefits of […]

May 18, 2018

For most banks under the $20 billion asset threshold, blockchain technology—the distributed ledger—will be a tool like every other technology tool. Banks under that size will be provided that tool by established providers or very large institutions and the tool […]

April 20, 2018

If you have seen as many cycles in the bank industry as Eugene Ludwig, founder and CEO of Promontory Financial Group and a former comptroller of the currency, you know the time to be most vigilant is not when things […]

August 1, 2017

Could Amazon be a threat to banks? The online retailer announced in June that its Amazon Lending program, a small-business loan service that the company began offering in 2011, had surpassed $3 billion in loans globally, to more than 20,000 […]

July 17, 2017

As customers, competition, and regulations intensify with every new technological advancement, banks and fintechs must reinvent their relationships with each other. This will involve entirely new approaches to regulatory development and vendor-bank agreements. In many organizations, basic cultural changes from […]

July 12, 2017

The future of banking is being completely altered by the Payment Services Directive 2 (PSD2) which comes into play in January 2018. PSD2 opens the floodgates to financial services innovation. Instead of making banking more complex, PSD2 is forcing banks […]

July 9, 2017

The cover of Tompkins Financial’s annual report bears the slogan, “Locally focused; A world of possibilities.” And that was part of the $6.2 billion-assets company’s thinking when it adopted an web-based commercial loan application system earlier this year that it […]

July 6, 2017

Press reports indicate that JPMorgan Chase was interested in acquiring a British payment processor, Worldpay. The company was ultimately acquired by Vantiv. This may benefit Fifth Third since that bank owns a sizable share in Vantiv. New world in banking […]

July 3, 2017

The controversy over the possible establishment of a national banking charter available to fintech companies came into sharp focus at the recent ABA Payments Forum in Washington, D.C. The Comptroller’s Office, which is still weighing the issue—but which has not […]

June 27, 2017

It comes as no surprise that today’s banks need mobile solutions to stand a chance of satisfying their customers. You’ve probably heard of the Big 5 of mobile banking, the essential features that are now an absolute must-have for the […]

June 23, 2017

As technology continues to evolve, so do the ways people use it, legally and illegally. Security and fraud protection are constant concerns in the banking world. Fortunately, banks have a vested interest in protecting your identity, and they are no […]

June 7, 2017

While everyone talks about blockchain, also known as mutual distributed ledger technology, just a few people actually know what this technology can do and how it could someday revolutionize the re/insurance industry, just by streamlining back-office processes. As a result, Insurance […]

February 28, 2017

Institutional investors in 2016 increased budgets to fixed-income trading desks in preparation for shifts in the interest-rate environment, and continued to ramp up IT budgets to keep pace with the dramatic changes technology is triggering in financial markets around the […]