Bank Innovation

FEBRUARY 9, 2020

Bank of America obtained more patents last year than any other year in the history of the company. In 2019, company obtained 418 patents, a 31% increase over the prior year. According to the bank, patents protect the bank’s tech investments.

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Chris Skinner

AUGUST 1, 2018

I’m off to Chile next week and thought, in preparation, I’d look at the state of FinTech in Latin America. Equally, I meet a lot of the … The post The State of FinTech in Latin America appeared first on Chris Skinner's blog.

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Payments Dive

JUNE 26, 2024

The team behind the bank’s CashPro app aims to stay a step ahead of rivals, including with payment approval features.

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BankInovation

SEPTEMBER 12, 2024

Bank of America is investing in technology initiatives as automation and digitalization remain priorities. trillion bank spends $12 billion annually on technology, a Bank of America spokesperson told Bank Automation News.

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Payments Dive

JULY 11, 2023

Regulators say Bank of America opened credit card accounts without customers’ consent and misled consumers with respect to rewards for card applications.

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Chris Skinner

AUGUST 28, 2019

These days, in … The post America: a nation living in the 20th Century appeared first on Chris Skinner's blog. Although a valid payment mechanism in some countries, it has been phased out in many. Finland stopped using checks in 1993, Poland in 2006 and the Netherlands from the start of next year.

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Bank Innovation

APRIL 15, 2020

Bank of America customers are shifting toward digital tools. Paul Donofrio, Bank of America’s chief financial officer, said in a statement that despite the […].

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Payments Dive

JUNE 6, 2019

Latin America presents a growing regional economy, however the payments and ecommerce industries present unique challenges.

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PYMNTS

DECEMBER 14, 2020

When Bank of America Rewards Executive John Sellers glanced at his in-house numbers over the last year, the evidence was plain to see. As of the third quarter he said, Bank of America was reporting 39 million digital users, 30 million of whom are mobile users, and 43 million mobile check deposits were seen during the quarter alone.

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Bank Innovation

JANUARY 17, 2018

Bank of America has more blockchain-related patents than any other firm in the U.S., According to the report, Bank of America has 43 patents while Mastercard and IBM have 27 each, followed by 14 from Fidelity. according to a new report by New York-based law firm EnvisionIP. The report counted a total of 1,045 blockchain […].

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BankInovation

APRIL 24, 2024

Bank of America’s innovation is never complete since its team constantly updates offerings to meet ever-changing client needs. “At Bank of America, innovation is everybody’s job,” Jorge Camargo, managing director of mobile app, online banking and Erica AI at Bank of America, told Bank Automation News.

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PYMNTS

JUNE 3, 2020

In Latin America, such a company exists in the form of MercadoLibre , a triple-threat regional financial powerhouse based in Argentina. It now operates in 18 countries in Latin America. According to eMarketer, eCommerce made up about 4 percent of the total spent last year in Latin America, due mostly to its cash-heavy economy.

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Chris Skinner

FEBRUARY 27, 2018

I recently wrote this piece for Raconteur’s Sunday Times supplement, and thought it might interest The Finanser’s readers: ‘When we in the West look to America for innovation, we are looking the wrong way’ I often talk about the world of change we are going through and how Europe and America are … The post Don’t look to America (..)

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Bank Innovation

OCTOBER 4, 2016

So much has happened with blockchain over the past couple of weeks—so very much—but let’s talk about the banks: Firstly, Bank of America is the latest to join the ranks of financial institutions experimenting with blockchain. Bank of America Merrill Lynch recently announced at Sibos that it was collaborating with Read More.

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PYMNTS

DECEMBER 10, 2020

Bank of America (BofA) is introducing a cross-border payment tracker and expanding SWIFT gpi to support more than 140 currencies, accessible through the integrated CashPro platform. 10) press release. and Ireland at SWIFT. .

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Payments Dive

JUNE 30, 2020

Wirecard North America officials said the company was looking for a new owner as the multi-billion accounting scandal at the German-based payments firm reverberated across the globe. UK regulators reached agreement to let operations resume there.

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Payments Dive

DECEMBER 5, 2023

The growth rate in the number of shoppers downloading buy now, pay later apps shrunk for this year's Thanksgiving shopping weekend compared to 2022.

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Bank Innovation

JANUARY 24, 2018

EXCLUSIVE- Echoing the mandate of PSD2, Bank of America Merrill Lynch today unveiled an API gateway that seeks to connect its commercial clients to fintechs and other third-party vendors. Bank of America Merrill Lynch […].

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PYMNTS

JUNE 19, 2020

It was a big week for B2B FinTech startups in Latin America. “Latin America is a highly attractive growth market for us, and the acquisition of Omni will significantly expand our capabilities in this important region,” the firm’s Founder and CEO Lex Greensill said in a statement.

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BankInovation

JULY 16, 2024

Bank of America continued to see digital adoption grow during the second quarter while keeping up with the digital needs of clients by looking to AI. “AI has moved from cost savings ideas to enhancing the quality of our customer interactions,” Chief Executive Brian Moynihan said during today’s second-quarter earnings call.

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Payments Dive

FEBRUARY 12, 2024

The provider of bill-pay software services was expecting to extend its services to more of the bank's clients, but now the bank is changing its plans.

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BankInovation

AUGUST 29, 2024

ATLANTA — Contactless transactions saw a boost amid the pandemic and contactless payments are here to stay as adoption continues to tick up, according to Bank of America. “We We look at a lot of data … the latest trends when it comes to consumers,” Juan Garrido, managing director and head of global banking merchant product […]

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PYMNTS

AUGUST 22, 2019

In Latin America, news comes this week that Santander Group is boosting its use of Ripple’s technology to aid payments across what CoinDesk reported is a “payment corridor” in Latin America. That app, the site noted, uses xCurrent software. I can just send a payment from Argentina to Chile directly [using bitcoin].”

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PYMNTS

OCTOBER 6, 2020

Bank of America is rolling out three new application programming interfaces (APIs) as it supports the growing demand for up-to-the-moment data and processing in business treasury. The new APIs help with foreign exchange (FX) settlement, obtaining check images and retrieving reports, according to a Tuesday (Oct. 6) announcement.

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PYMNTS

JULY 24, 2020

malls — Minnesota’s Mall of America and New Jersey’s American Dream mall — are struggling, with the company that owns both recently skipping a third straight payment on the Minnesota property. the Mall of America features not only 500 stores, but also some 28 amusement-park rides, an aquarium and more. The two largest U.S.

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BankInovation

FEBRUARY 16, 2024

Bank of America is working to control the fallout following an October data breach at third-party vendor Infosys McCamish Solutions.

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PYMNTS

OCTOBER 14, 2020

The four intended to start a new marketplace software product for the Latin America region. Nuvemshop was formed by Santiago Sosa, Alejandro Vazquez, Martin Palombo and Alejandro Alfonso and went through numerous trials and errors on the way to forming.

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PYMNTS

DECEMBER 10, 2020

Bank of America customers are spending more across all accounts than they did last year, but more stimulus is needed to support small businesses and people who are unemployed, according to CEO Brian Moynihan. When you look at what they’re spending year-to-date, they’ve spent more in 2020 than they did in 2019, and that is now across $2.7

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BankInovation

JANUARY 9, 2024

Bank of America added data insights to its CashPro platform as corporate and commercial clients asked for real-time treasury management functionality.

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PYMNTS

JUNE 18, 2020

The advance of digital payments in Latin America over the last two decades has been slow when measured against other parts of the globe. Critical to bringing digital payments into Latin America in general, and into WhatsApp in specific, is they must be secured via tokenization. ” Latin America’s Digital Path Forward.

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PYMNTS

FEBRUARY 25, 2019

Bank of America will drop the Merrill Lynch name from its trading and investment banking outfits, according to reports. The move shows that Bank of America is finally moving past the crisis and the problems it wrought, and focusing on renaming some of its acquired business, including the U.S. 1 brand there is.”.

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PYMNTS

MAY 1, 2020

The CEO of Bank of America said the impact of the $2.2 In an interview on CNBC’s “Closing Bell,” on Friday (May 1) Bank of America CEO Brian Moynihan said the combined elements of the CARES Act are coming together to jumpstart the economy. He said Bank of America has processed 231,000 PPP loans representing about $24 billion.

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PYMNTS

SEPTEMBER 22, 2020

To help local businesses encountering difficulty because of the coronavirus or civil unrest, the Mall of America is contributing a 5,000-square-foot retail space to local businesses called the Community Commons. The space will be rent-free to 17 companies, opening Oct.

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PYMNTS

JUNE 16, 2020

Greensill, which provides working capital finance for customers around the world, has acquired Latin America-based lender Omni, a lender to small and medium-sized businesses (SMBs). “Together we will ensure that SMEs across Latin America have the fairest access to finance available.”

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PYMNTS

FEBRUARY 6, 2019

Bank of America announced on Wednesday (Feb. In a press release , Bank of America said the new dashboard is available to business banking customers, giving them a view of their cash flow. Bank of America is rolling out the service to help its more than nine million small businesses customers.

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PYMNTS

OCTOBER 14, 2020

Bank of America (BofA) said on Wednesday (Oct. trillion in spending at Bank of America, customers have spent more than they did last year,” CEO Brian Moynihan told investors and analysts on a conference call following the company’s 3Q earnings release. All told, Bank of America reported Q3 net income of $4.9 That’s down from $5.8

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BankInovation

MAY 10, 2024

Bank of America aims to add 10 to 20 modules to its virtual reality training program every year to enhance employee training and improve information retention.

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