Sections
Digital Banking
Digital banking is part of the broader context for the move to online banking, where banking services are delivered over the internet. The shift from traditional to digital banking has been gradual and remains ongoing, and is constituted by differing degrees of banking service digitization.
(source: en.wikipedia.org)
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InvestmentsSquare Rally Sees Firm’s Valuation Nearing Major Banks
With a rally in shares, Square‘s valuation is approaching the level of some of the biggest U.S. banks, Bloomberg reports. Since May,...
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SMBsWells Fargo On What It Will Take To Revive The SMB Economy
Small- and medium-sized businesses have been hit hard by the pandemic, but most are scrambling into digital pivots to blunt the impact...
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Digital-First BankingSurvey: Quarter Of Americans Open To Banking With Big-Tech Firms Like Amazon, Apple And Google
Despite the surge in mobile payments and online banking, no one is predicting the disappearance of traditional banks and their brick-and-mortar branches. ...
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Cloud BankingCloud Banking Gives Legacy Systems A Lift
Is it surprising to know that 55 percent of legacy financial institutions (FIs) report lacking maturity in core systems? Or that, on...
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Digital BankingGetting Onboard With Digital-First Banking
In the post-pandemic terrain, digital onboarding is both hero and villain. That’s because COVID-19’s social distancing rules, plus digital everything, has led...
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Credit UnionsCredit Unions, ATMs And The Great Digital Banking Shift
COVID-19 showed up unbidden, unwanted and unexpected, frustrating the best-laid plans of companies, financial institutions (FIs) and more with little warning. But...
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VISAVisa, Careem Team To Support Digital Payments Growth In Middle East, N. Africa
Careem, the Dubai-based ride hailing company, has entered into a partnership with Visa to expand digital payments. The agreement is expected to...
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B2B PaymentsAllica Bank Launches With Profile Software Infrastructure For SMBs
U.K. challenger bank Allica Bank has launched using Profile Software‘s banking programs in order to ensure small- to medium-sized business (SMB) customers a...
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Digital-First BankingHow Digitizing KYC Processes Helps Accelerate Onboarding
Customer onboarding and account opening is vitally important for banks to get right, as the processes kick off customers’ relationships with a...
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Cloud BankingDeep Dive: How The COVID-19 Pandemic Is Pushing Legacy FIs’ Cloud Migrations
Digital banking tools’ use continues to rise as the COVID-19 pandemic wears on, and mobile banking usage in the U.S. has increased...
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Digital BankingFIs: Embracing The Cloud Involves More Than Business Continuity ‘Lip Service’
Financial institutions (FIs) are on the cusp of change, as the great digital shift is forcing them to bring new products and...
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Digital-First BankingWealthfront FinTech Rolls Out Debit Account Capability
Wealthfront, the online investment service firm, has added checking features to its app. The Palo Alto, California startup said the no-fee account...
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Security & FraudUK Digital Banking Apps Affected By Wirecard Subsidiary Freeze
After the U.K.’s Financial Conduct Authority (FCA) mandated that Wirecard’s British Wirecard Card Solutions unit stop conducting regulated work, a number of...
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Today In DataRetail Brands And FIs Move Toward Digital Offerings
The news about Nike’s fourth-quarter earnings announcement focused on what would be a large loss at any other time, but the real story...
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Cloud BankingHow N26 Is Using The Cloud To Fulfill Mobile-First Customer Expectations
Fifty-five percent of consumers say mobile is now their preferred way of interacting with their banks, but many financial institutions (FIs) still...
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Digital-First BankingWells Fargo On Why First Impressions Are Key In Digital Banking
Consumers are embracing digital banking amid the pandemic, with many signing up for the first time. But time-consuming onboarding procedures that require...
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MastercardMastercard, EedenBull Extend Into Asia Pacific
Mastercard and Norwegian financial technology (FinTech) company EedenBull have agreed to expand their partnership to the Asia Pacific region, the firms announced...
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Digital-First BankingWells Fargo: First Impressions Are Key When It Comes To Digital Onboarding
Digital banking has become the new normal as social distancing guidelines and stay-at-home orders have drastically curbed financial institutions’ (FIs’) abilities to...
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Cloud BankingN26: Cloud-Banking Core Key To Meeting Consumers’ Mobile Banking Needs
Financial institutions (FIs) worked quickly to ensure they could operate smoothly as the pandemic kept consumers at home and closed brick-and-mortar branches...
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Digital Bankingi2c Partners With Credit Sesame For Enhanced Money Management Services
Digital payment and open banking firm i2c has announced its partnership with Credit Sesame‘s Sesame Cash, which will give more customers the...
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Credit UnionsNEW DATA: How Credit Unions Are Innovating To Help Micro Businesses
Microbusinesses are firms that either generate less than $1 million in annual revenue or are operated by a single individual. They may...
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B2B PaymentsHSBC Brings Remote Account Opening To Hong Kong SMBs
To let companies open business accounts online, HSBC rolled out Hong Kong’s inaugural remote business account opening process designed for small- to...
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B2B PaymentsHSBC Hong Kong Announces New API For Instant B2B Payments
HSBC Hong Kong‘s new application programming interface (API) will simplify the payment system for businesses down to a one-stop payment hub, a...
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B2B PaymentsChesapeake Bank Joins The Clearing House’s RTP Network
Virginia’s Chesapeake Bank has joined The Clearing House’s Real-Time Payments (RTP) network, showing that smaller community banks have joined the new trend of...
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AMLFixing Banks’ AML Achilles’ Heel — Before The Fraudsters Pounce
In financial fraud, the breaches come when bank standards are lax. Australian bank Westpac Banking Corp. may stand as Exhibit A here....
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Digital BankingWill Credit Sesame’s Digital Banking Push STACK Up?
The challenger bank space is having a bit of a moment. LendingClub is buying Radius Bank. Green Dot is using the bank...
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Digital BankingMonzo Sees 40 Percent Drop In Valuation In VC Deal
Online U.K. bank Monzo, fresh off a round of layoffs, has taken a major hit from the coronavirus pandemic, as shown by...
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Partnerships / AcquisitionsCredit Sesame Acquires Canadian Challenger Bank STACK
In a deal that marks the company’s inaugural acquisition and the start of its global growth, Credit Sesame said it finished its...
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Mobile ApplicationsNew Data: Why 75 Pct Of Consumers Want More From Card Apps Than They’re Getting
Banks are well aware that they must do more these days than simply provide their debit and credit card holders with monthly...
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B2B PaymentsHow Digital-First Banking Gets SMBs On The Road To Recovery
Supply chain disruptions and economic volatility have elevated risk exposure for many enterprises, but for small- to medium-sized businesses (SMBs) operating globally,...
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Digital BankingTikTok’s ByteDance Bids For Singapore Banking License
The owner of TikTok, the Chinese video sharing social network, is reportedly expanding into financial services with the family that owns OCBC...
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Credit UnionsPSCU On The Digital Shift And Branch Banking’s Future
Amid the digital leap that is confronting financial services lies the opportunity to cement relationships with consumers, according to Dean Young, executive...
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B2B PaymentsCredorax, Samsung To Introduce Blockchain-Based Open Banking
Credorax, the smart payments provider and FinTech, has announced a partnership with Samsung to develop blockchain technology to offer open banking services,...
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BankingGoldman Sachs’ Marcus Pauses Adding Some UK Accounts To Avoid ‘Ring Fencing’ Rules
Goldman Sachs’ consumer digital bank Marcus is facing a nice problem to have (at least on the surface) in Britain. News emerged...
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Partnerships / AcquisitionsAmazon, Goldman Have Lots To Gain From Their New Partnership
Small businesses hit hard by COVID-19 shutdowns are facing thin cash reserves, and the extension of credit to those SMBs has become...
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Digital BankingGoldman Closes Marcus UK To New Deposits Amid Savings Surge
A global savings surge amid the coronavirus lockdowns is forcing Goldman Sachs to shut off its Marcus savings accounts to new customers...
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Digital BankingPandemic Leveling Playing Field Between Banks And FinTechs?
The battle between traditional financial institutions (FIs) and tech-nimble FinTech challengers has been a pitched one. As marquee names like Morgan Stanley,...
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Digital BankingDigital Banks Solid In Latest Provider Rankings
App-based digital challenger banks have been solidifying and expanding customer bases ever since COVID came to town. And while PYMNTS’ latest Provider...
- Digital Banking
Open Banking By The Book
Land rushes. Gold rushes. Now comes the rush to digitally onboard consumers who, driven by the fear of touching things that could...
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Digital OnboardingDeep Dive: How FIs Can Secure Mobile Onboarding Without Adding Frictions
The need to stay at home and minimize person-to-person contact during the COVID-19 pandemic has pushed mobile banking use into overdrive. Customers are...
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Digital-First BankingEntersekt: The COVID-Led Future Of Digital Banking
In one of the signs of where we are and where we are headed in the warp-speed transformation of digital banking, consider...
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Digital BankingAML/KYC Fast-Tracked In Open Banking Boom
In PYMNTS’ most recent Navigating the COVID-19 Pandemic series, based on surveys of thousands of consumers and businesses over the duration, nearly...
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Smarter PaymentsHow Digitalization Soothes Cross-Border Payment Pain Points
For UAE's 90 percent expatriate population, sending remittances back home often means paying exorbitant fees and dealing with glacial processing times. But...
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Credit UnionsCredit Unions’ Bid To Bridge The Challenger Bank Perception-vs.-Reality Gap
In the battle against digital challenger banks, credit unions (CUs) may be facing a bit of a perception/reality gap — and losing...
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Digital BankingAffirm Unveils High-Yield Savings Account
Affirm has debuted a high-yield savings account called Affirm Savings, according to an announcement. The alternate payment company said the offering is...
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Digital BankingSaxo Bank Partners With Other Banks For Better Customer Service
Saxo Bank has partnered with five other banks in what it says is a way to help more customers access Saxo’s trading...
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Digital OnboardingWhat Banks Can Learn From Amazon About Digital Onboarding
The new coronavirus led many financial institutions (FIs) to close or limit the hours of operation of their brick-and-mortar branches amid stay-at-home...
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B2B PaymentsCiti Reports Jump In Online Banking Usage By Commercial Clients
Citi‘s Treasury and Trade Solutions (TTS) customers have increased their utilization of the firm’s digital banking technology, while firms globally implemented continuity...
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B2B PaymentsDigital Banking Moves To Forefront Of VC Efforts
In the FinTech funding world, Varo Money stole the spotlight this week with a $241 million funding raise. The Series D round,...
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Digital PaymentsFIs: Build For A Digital Future Or Lose Customers
The degree to which consumers’ lives have gone digital over the past two or three months can’t be overstated. Vaduvur Bharghavan, president...
