The top trends in retail banking innovation
Chris Skinner
OCTOBER 4, 2017
I get lots of input from many sources, and one of the ones I like is the innovation survey of banking produced annually by EFMA with Accenture.
2015 Innovation Retail 
Wells Digital Guru Talks Innovation Groups, AI, and Banking’s ‘Uber’ Moment
Bank Innovation
MARCH 13, 2017
How do you choose where to focus your innovation team? Floyd, who joined Wells Fargo in 2015, has worked in the tech industry for more than 30 years, and for companies like Intuit, eBay, and IBM. Marie Floyd, senior vice president of digital customer experiences for Wells Fargo, has some tips. In her time at […].
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Mastercard On Helping Retailers Strike The Right Innovation Balance
PYMNTS
JANUARY 21, 2020
And nowhere is that aphorism better illustrated over the last decade than with the statistic that more than 90 percent of all retail sales took place at brick and mortar stores. It gave retailers the illusion that digital was the retail cart driven by the physical store horse. Testing Innovation .
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Pharmacies Drive More Retail Innovation
PYMNTS
AUGUST 26, 2019
Pretty much everyone needs medicine at one or another, and that need is helping to drive retail innovation and attempts at disruption in the pharmacy business. The news represents the biggest round of store closures for Walgreens since 2015. But innovation efforts continue for retail pharmacy operations.
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How Food And Retail Can Collaborate Via Blockchain
PYMNTS
SEPTEMBER 6, 2017
But what hasn’t been so deeply explored is how that technology can help food producers and retail firms collaborate more deeply, helping both succeed and strengthening the industries that power them. In 2016, overall retail sales climbed just 2.1 In 2016, overall retail sales climbed just 2.1 Merits Of The Collaboration.
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Payworks Partners with Ant Financial to Bring AliPay to European Retailers
Bank Innovation
AUGUST 3, 2017
It first arrived on the continent in 2015. The POS payment gateway provider has partnered with Ant Financial in order to integrate the AliPay service with European acquirers, the companies announced today. This marks an expansion for AliPay in Europe. With the partnership, AliPay will […].
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Why Invisible Will Make 2020’s Payments Innovation Roar
PYMNTS
SEPTEMBER 3, 2019
Two hundred and seventy-four years later, those words are the perfect framework for understanding what will define the next decade of innovation in payments and any ecosystem that touches it. Sometimes those innovations disrupted old models and players; other times they made them better and more efficient. The Invisible Innovators .
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Thoughts from American Banker Retail Banking Conference 2015
Celent Banking
MARCH 16, 2015
This last week the American Banker Retail Banking Conference 2015 was going on in Austin, TX. The retailer combines the in-store and app experience to enhance the customer buying process. Banking Events Retail Banking American Banker ecommerce merchant-funded rewards mobile banking Omnichannel payments Trends'
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North American retail payments: Position to win with five big bets
Accenture
NOVEMBER 11, 2019
When I look at the retail payments market, I see all the attributes that any strategist worth his salt would love: It’s large, growing, profitable and accessible. The North American retail payments market is $300B and has grown at a 6 percent CAGR between 2015 and 20181, generated strong margins and has contributed significantly to….
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Driving Retail Innovation With Digital Technology, DTC Models
PYMNTS
NOVEMBER 19, 2019
In retail, the Flat Tummy Instagram brand was able to make an effective algorithm that could accurately predict the effect an influencer would have on pushing its line of teas. 500,000: Number of Instagram followers Flat Tummy had on its own in 2015. All this, Today in Data.
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101 Thanksgiving Innovation 101: The Turkey
PYMNTS
NOVEMBER 22, 2018
In 2015 The Guardian advised that we should all take our Thanksgiving turkey and “ throw it in the garbage ,” prompting us to admire the temerity it takes for a group of Englishmen to offer instructions on a holiday they do not actually celebrate. There isn’t a lot of room to really innovate the Thanksgiving turkey. Or is there?
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Financial app Qapital hacks the psychology of spending
Bank Innovation
JANUARY 7, 2020
in 2015, the automation of money movement in conformity with the […]. At first glance, New York-based Qapital, a digital banking, investing and budgeting platform, might look like a challenger bank. But CEO and co-founder George Friedman says Qapital’s offerings are more than just a collection of financial products.
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Toronto-based Neobank Koho Amps Up Billpay with a Bot
Bank Innovation
APRIL 13, 2018
The Toronto-based startup, which demoed at Bank Innovation 2015 in Seattle […]. Its engineers were also looking for a side project. What they came up with was a way to make billpay easier, and a bot, called Kbot, to smooth the way.
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The Rise Of The Auto-Refill Economy
PYMNTS
AUGUST 17, 2020
The Commerce Department released July’s retail sales last week, showing an increase in seasonally adjusted retail spending – up 1.2 Analysts reported that physical retail sales, seasonally adjusted, were up 2.7 And what we also see is only one part of the retail sales story. percent growth in June.
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335 Making Coffee And Clothing More Accessible With Retail Innovation
PYMNTS
NOVEMBER 20, 2019
2015: The year Eat Your Coffee launched as a business. And in seasonal commerce, Santa has evolved as more holiday shopping goes digital, although privacy laws threatened a Christmas tradition at a market in Bavaria. All this, Today in Data. 2013: The year Salvador Nissi Vilcovsky and Ofer Saban co-founded MemoMi, their smart mirror product.
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Retailers Give Fresh Focus to Single Consumers
PYMNTS
JUNE 7, 2019
Forget millennials, that consumer segment that is blamed for the downfall of most everything while also being the target of many innovative efforts. Single consumers are a force of nature as well when it comes to retail. At least that’s the case when talking about toilet paper – specifically, the Charmin Forever Roll. Shifting Tide.
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Revving Up The Latest Retail Trends With Autos
PYMNTS
JANUARY 8, 2020
Auto sales are driving retail trends, as online marketplace and auction site eBay has released a new eBay Motors app. Data: 2015: The year the previous eBay Motors app was discontinued. At the same time, Carvana , a firm that allows consumers to browse and purchase vehicles online, has added a new virtual financing option.
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Fabletics Announces Brick-and-Mortar Expansion
PYMNTS
DECEMBER 28, 2016
Activewear brand Fabletics , which was co-founded by Kate Hudson in 2013, announced plans for a retail expansion across the U.S. The once pure play eCommerce business will open 12 new physical locations next year, adding to the 18 existing Fabletics locations that began launching in the Fall of 2015.
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Centana Growth Partners closes $375m fintech fund
Bank Innovation
DECEMBER 10, 2019
The firm, which closed a $250 million fund in 2015, primarily invests in business-to-business technology companies. Centana Growth Partners, a New York and Palo Alto, Calif.-based based growth equity firm, closed its second fintech valued at $375 million this week.
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293 Retailers Up Their Loyalty and Rewards Games
PYMNTS
JULY 25, 2019
Recent days have brought new evidence of the importance of robust loyalty and rewards problems in retail, an areas of ongoing innovation, and a way for merchants of all types to stand apart in a fiercely competitive industry. Retail Card Programs. The move adds to Trax’s stable of retail tech.
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AccelFoods Fund For Food Innovators Hits $35M
PYMNTS
MARCH 9, 2017
The idea is that through our LP base, we bring together different parties with unique interests to move innovation forward.”. in the summer of 2015, was designed to make it easier for startups to get their feet off the ground by tapping into Amazon’s resources and distributing products to reach Amazon’s global consumer base.
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Retail Seeks More Loyalty From Sustainability-Minded Shoppers
PYMNTS
NOVEMBER 13, 2019
Sustainable notions of commerce are moving ever more to the forefront of retail, and judging by shifting consumer trends — especially the preferences of younger consumers coming into their own — you can bet the trend will only get more intense in the coming years. And recent retail innovations would seem to bolster that point.
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Western Union Rolls Out Money Transfer Services Across OXXO
PYMNTS
OCTOBER 7, 2016
By fully activating services at OXXO, Western Union’s retail Agent network has nearly doubled to more than 26,600 locations, from approximately 13,500 at close of 2015. “We “Our innovative self-service feature in Mexico in collaboration with OXXO is part of our strategy to digitalize our retail network. “We
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Direct To Consumer: Impact On Retail Manufacturing Industry
PYMNTS
AUGUST 1, 2017
To say direct-to-consumer retail practices have had an impact on the manufacturing industry would be an understatement. With eCommerce a major proponent of the direct-to-consumer (DTC) channel and showing no signs of slowing down, the retail industry landscape has been forever changed. billion in 2015 and up to $16 billion by 2020.
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PYMNTS’ 2016 Roundup: Retail Edition
PYMNTS
DECEMBER 30, 2016
This year has been big for retail — big on change, innovation and some surprises along the way. Consumers flocked to online and mobile commerce , robots rose in food and consumer goods , and brick-and-mortar stayed relevant with retail experimentation — pop – ups , flash sales , store-in-store and showrooms.
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How B8ta Gives Consumers A Technology Test-Drive
PYMNTS
OCTOBER 2, 2017
“Retail isn’t dead; it needs a revival.”. With a list of bankruptcies growing ever longer, suburbs hosting the carcasses of scores of dead and dying shopping malls and foot traffic on an ever-falling curve, it’s not hard to draw the conclusion that retail — or, at least, the brick-and-mortar version of it — is dead.
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Biometrics Innovation Tests Consumer Privacy Sentiment
PYMNTS
NOVEMBER 8, 2019
Innovations — some more fantastical than others — keep emerging, though. The technology gives users greater convenience and security when shopping at mainstream retailers. Biometrics in retail could be just the beginning. There is speculation about the role digitally-read emotions could play in payments and retail.
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120 India’s Retail Battle Attracts Fresh Energy
PYMNTS
JULY 30, 2019
One of the biggest retail stories as we head into 2020 is how India is a battlefield of digital commerce, along with a hotbed of retail innovation. The eCommerce retailer is said to be working with Catamaran and has started hiring workers for the operation per unnamed sources, Reuters reported. Amazon’s Moves.
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108 How ‘Assortment-As-A-Service’ Is Changing Physical Retail
PYMNTS
NOVEMBER 14, 2019
It’s easy enough to think of small businesses as not being particularly innovative – and even to find data to back up that claim. In fact, on the zero to 100 scale offered by the Readiness Index, small businesses underscore large firms in terms of digital innovation adoption by over 20 points. Assortment as a Service.
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Marketers Focus On Mobile Shopping For The Holidays
PYMNTS
NOVEMBER 11, 2016
According to the BDO Retail Compass Survey of CMOs, nearly 60 percent of marketers plan to leverage mobile in their marketing strategies this holiday season. Although less than 10 percent of marketers say they plan to focus on generic mobile coupons, retailers will be offering bargain hunters other ways to get a deal.
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188 Amazon Replacing Retail Vets With Software
PYMNTS
JUNE 13, 2018
Amazon is replacing some of its retail veterans with software that predicts what shoppers want and how much merchants should charge for it. The shift to automating retail team jobs started several years ago with an initiative called “hands off the wheel.”
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To Amazon Or Not Amazon? An Eyeglass Retailer Faces The Question
PYMNTS
JANUARY 31, 2020
It’s an industry that has — and continues to — shift quickly from its brick-and-mortar roots to an often innovative eCommerce experience. Eyeglasses are not a want, of course, but a need — and that provides ample opportunity for all types of businesses involved with this particular category of retail. But it’s a double-edged sword.”.
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Nike Teams With Geek+ For Robotic Same-Day Delivery In Japan
PYMNTS
FEBRUARY 7, 2020
Founded in 2015, Geek+ is a global logistics company that provides artificial intelligence (AI) solutions to help warehouses and factories improve their operations. Among Nike’s other innovations was last year’s foray into blockchain-compatible sneakers.
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195 Why Innovation Is Nothing Without Distribution
PYMNTS
JANUARY 22, 2018
More important, perhaps, than the innovations they made on behalf of their more famous lead players, was how their contributions accelerated those innovations’ time to market. Innovation in payments and commerce has an unsung hero, too. And who will influence how innovation happens. And now, Amazon.
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Whole Paycheck Tracker:?Walmart And Amazon?Battle Resumes As Retail Embraces ?The New Normal?
PYMNTS
JUNE 5, 2020
The world of retail might not be quite getting back to normal, but people are starting to pick up some pieces of their old day-to-day lives again. A few big-ticket purchases of digital apparel retailers like ModCloth and Bonobos didn’t turn out as planned. Innovation Add-On of the Week: Amazon Embraces Supply-Chain Blockchain .
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Digital Freight Services Race Toward More Cash And Last Mile Innovation
PYMNTS
NOVEMBER 14, 2019
The latest example of the power of those digitally-enabled innovative efforts comes from online freight marketplace operator Convoy. Founded in 2015, Seattle-based Convoy is among the biggest operators of online marketplaces that match truckers with shippers needing to move cargo,” the report said. Rowe Price Associates. Uber’s Move.
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116 When QSRs Think Really Outside The Box In The Innovation Race
PYMNTS
MAY 4, 2019
The realm of quick service restaurants (QSRs) is and actually always has been a pretty innovative space. In the modern digital era of QSR, it is almost impossible not to mention Starbucks and its myriad contributions to innovation — including the first really successful launch of a mobile wallet product in the U.S.
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Today In Data: Aligning Expectations In The New Year
PYMNTS
JANUARY 7, 2019
Unfortunately, sometimes things get a little out of whack , with customers going one way and retail managers going another. Observable particularly in physical retail and QSR dining, misaligned expectations have been popping up a lot lately. 20 percent: Share of Apple’s revenue that came from China as of 2015.
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As The OmniReadi Gap Widens (And Stagnates)
PYMNTS
OCTOBER 6, 2016
Scores in industries with strong records of omnichannel success, such as sporting goods retailers, continue to improve, while low-scoring businesses, like grocers and pharmacies, continue to dive. Top performers, like sporting goods and electronics retailers, don’t neglect their brick-and-mortar businesses.
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Envestnet executives mum on Yodlee sale, despite revenue pressure
Bank Innovation
FEBRUARY 23, 2020
billion continues to fuel speculation about the future of data aggregator Yodlee, which Envestnet acquired in 2015 for $590 million. The impact of Visa’s Plaid acquisition for $5.3 At issue is whether Envestnet is exploring options for Yodlee, including a possible sale.
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243 How An Online Automotive Deal Is Fueling A Retail Trend
PYMNTS
AUGUST 7, 2019
Those two retail trends have recently collided in Southeast Asia, where Carro, an automotive marketplace and financing provider, reportedly has bought Jualo, an online marketplace for used goods from some 300 product categories. The deal is not the only recent news involving the online retail sales of automobiles. Retail Waste.
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Is It Time For Apple To Allow Others Access To The iPhone NFC Chip?
PYMNTS
DECEMBER 21, 2020
You can see it in how investors are putting money to work in both consumer-facing and B2B startups, and how startups and incumbents are forging new partnerships to move innovation faster to market. Almost half, 45 percent, have shifted digital to shop for retail products, and one in five to shop for groceries and order food from restaurants.
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Retail Pulse: The Vitamin Shoppe Opens NextGen Store; Dollar General Taps Into BOPIS
PYMNTS
OCTOBER 11, 2019
Brick-and-mortar retailers are creating next-generation stores that incorporate interactive features into their designs with the help of technology. These analytics will be leveraged to improve the customer experience across all channels,” according to the retailer. The move could help the retailer bring in a younger demographic.
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101 Nike, Shoe Retailers Try On Newer Forms Of Digital Commerce
PYMNTS
OCTOBER 21, 2019
Everyone needs shoes — and that need helps drive innovation in an important sector of retail. The most expensive $50 option takes off around $10 per pair of Nike shoes purchased (as the average retail price is $60). Marketplaces, too, are taking a role in footwear retail. Powerful Engine. Marketplace Push.
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