Bank Innovation

NOVEMBER 26, 2019

quintillion bytes of data are created every single day. As such, lenders are collecting vast amounts of consumer information and calling it “big data,” a key product to generate insights, support decision making, and enable automation. More than 2.5

Big Data 259

Big Data Data Fintech Innovation Strategies 259

PYMNTS

APRIL 8, 2019

Its also inviting select developers to make skills for Alexa that meet the government requirement on handling patient data. Prior to that it had 59 percent market share, noted The Wall Street Journal , citing data from Loup Ventures. We’re all still experimenting.” The device thought it was picking up commands.

Data 189

Data Innovation Strategies New York Google 189

Bank Innovation

DECEMBER 3, 2019

Banking technology company Finastra is enhancing the rollout of its customer data strategy as clients face new competition. As part of this effort, the London-based company hired Lisa Fiondella as its first-ever chief data officer in November.

Data 243

Data Management Strategy Technology 243

Bank Innovation

FEBRUARY 24, 2020

Fidelity spun off its data-aggregation business, Akoya, into its own company last week, giving financial institutions another tool to securely share customer data with third-party financial apps. Akoya will be […].

Data 259

Data Tools Security Company 259

Bank Innovation

AUGUST 26, 2019

This is the second article in a two-part series on bank-fintech collaborations based on the 2019 State of Banking Innovation Survey, a study conducted by Bank Innovation and INV Fintech.

Innovation 186

Innovation Fintech Study Survey 186

Bank Innovation

MARCH 5, 2020

According to the Morgan Stanley research note today, PayPal CEO Dan Schulman said at an event hosted by the investment bank that Honey has data revenue opportunities that were apparently not on PayPal’s radar when it acquired […].

Data 273

Data Innovation Strategies Marketing Strategy 273

Bank Innovation

NOVEMBER 18, 2019

Instead, it will offer embedded “experiences” based on data the institution has on its customers, according to a report released by HSBC this month. The bank of the future will cease to be about specific products and services.

Data 273

Data Study Report Innovation Strategies 273

PYMNTS

JULY 1, 2019

When it comes to technological innovation, however, the smaller players have long been outgunned by larger FIs and their sizable IT budgets. Today, small banks are more aggressive and ambitious in their innovation strategies than medium-sized and large FIs. This is changing — in a big way. On average, these FIs designate 45.7

Innovation 157

Innovation Innovation Strategies Survey Groups 157

PYMNTS

AUGUST 1, 2019

But how much are FIs really investing in blockchain and artificial intelligence (AI) compared to more foundational innovations? The latest Innovation Readiness Playbook looks at where FIs have been focusing over the past three years and what their plans are for the near future. Data analytics is ready for a surge in interest, however.

Innovation 142

Innovation UX Analytics Study 142

PYMNTS

JULY 30, 2019

Modern credit unions understand all too well that loyalty innovation is critical to staying in business, and that those that do not prioritize it risk losing a significant share of their members. Loyalty-based innovation is a top concern for many credit union (CU) members, as outlined in the latest Credit Union Innovation Playbook.

Innovation 108

Innovation Data Analytics Video 108

Bank Innovation

FEBRUARY 10, 2020

As banks continue to explore best practices around handling customer data, insight from core technology provider Fiserv suggests open banking can help banks compete with fintechs and large incumbents alike. “By

Innovation 284

Innovation Fintech Data Technology 284

Bank Innovation

APRIL 1, 2020

As financial institutions transition employees to working remotely during the coronavirus pandemic, cybersecurity threats have made them more vulnerable, according to information and cybersecurity experts.

Data 284

Data Innovation Strategies Groups Security 284

PYMNTS

MAY 31, 2018

According to recent research from PYMNTS, the industry’s innovation pacesetters are those who devote the most time to developing new features, products and services. They are also the FIs that allocate the majority of their budget and other resources to testing those innovations. Who are the top-performing financial institutions (FIs)?

Innovation 116

Innovation Data Innovation Strategies Community Bank 116

PYMNTS

OCTOBER 23, 2017

When IT Becomes a Drag on Innovation. FIs want to innovate – 97 percent of banks and credit unions surveyed told PYMNTS they have focused on innovation over the past three years. Thirty-six percent of FIs say their existing IT infrastructures made payments innovation hard or very hard. So, what’s stopping them?

Innovation 131

Innovation Trends Survey Maine 131

PYMNTS

JULY 2, 2020

Although CU members want innovation in member loyalty and rewards, most credit unions are not delivering these programs up to the desired standards. Credit union members’ high expectations when it comes to loyalty innovation do not necessarily make or break their banking relationships. Loyalty Innovation Strategies .

Innovation 155

Innovation Branding Tools Innovation Strategies 155

Bank Innovation

JANUARY 16, 2020

MUFG Union Bank is on track to move to a cloud core banking infrastructure system within two years, an initiative that will let the bank build and release new products more quickly, the company told Bank Innovation this week.

Innovation 259

Innovation System Security Data 259

PYMNTS

JULY 18, 2019

Depending on where you look, the chasm yawns wide when it comes to innovating with new technologies or features. In a PYMNTS interview with Karen Webster, Joe DeRosa, EVP of Global Sales at i2c , discussed the findings of the July 2019 Innovation Readiness Playbook , subtitled “Leveling the Playing Field for Different-Sized FIs.”

Innovation 155

Innovation Study Technology Millennials 155

PYMNTS

AUGUST 8, 2018

Successful innovation is all about operationalization. The good news is that the path to operationalizing innovation looks remarkably similar for all financial institutions (FIs). Whether FIs are big or small, operationalizing innovation comes down to executing on the same four key tenets , starting with making innovation a mindset.

Innovation 109

Innovation Report Innovation Strategies Survey 109

Bank Innovation

JANUARY 31, 2020

Aside from operations and strategy, one of the biggest reasons is limited funding or lack of timely cash flow. A staggering 90% of small- to medium-sized enterprises fail. This is no surprise given that 72% of SME loans are rejected; it takes three months for SME borrowers to get their cash; and still 52% of […].

Lending 256

Lending Data Strategy Operations 256

Bank Innovation

JANUARY 16, 2020

MUFG Union Bank is on track to move to a cloud core banking infrastructure system within two years, an initiative that will let the bank build and release new products more quickly, the company told Bank Innovation this week.

Innovation 243

Innovation System Security Data 243

Bank Innovation

JANUARY 14, 2020

billion acquisition of data aggregator Plaid puts the company’s tool set at the center of financial services innovation. Visa‘s $5.3 The move embeds Visa deeper into the payments infrastructure, allowing it to expand its footprint and diversify its product and service offerings.

Fintech 243

Fintech Tools Innovation Data 243

PYMNTS

JUNE 18, 2020

In simple terms, cloud computing is storing and accessing data and programs over the internet instead of a computer’s hard drive. The Tracker also analyzed the challenges traditional FIs are facing to innovate their platforms and why these banks must fundamentally change their innovation strategies to meet these challenges.

Resources 221

Resources Innovation Strategies Analytics Innovation 221

Bank Innovation

MARCH 5, 2020

According to the Morgan Stanley research note today, PayPal CEO Dan Schulman said at an event hosted by the investment bank that Honey has data revenue opportunities that were apparently not on PayPal’s radar when it acquired […].

Data 195

Data Innovation Strategies Marketing Strategy 195

PYMNTS

JULY 29, 2019

This means CUs must be carefully attuned to member’s financial needs and the innovations they want most as CUs invest in new products and services aimed at improving the way members engage with their FIs. In many cases, it also requires partnering with emerging FinTechs that are able to quickly deliver the innovations members want most.

Pennsylvania 173

Pennsylvania Analytics Maryland Innovation 173

PYMNTS

MAY 29, 2020

The Tracker also analyzes the challenges established FIs are facing to innovate their platforms and why these banks must fundamentally shift their innovation strategies to meet these challenges. Why Cloud Computing Is Critical To Banking Innovation. Developments Around The Cloud Banking World.

Digital Banking 230

Digital Banking Innovation Online Technology 230

PYMNTS

SEPTEMBER 17, 2019

There is a mountain of friction in commercial payments today that seems to have held the industry back from the kind of rocket-pace innovation propelling retail and consumer payments into the future. We have to innovate,” he said, “and we have to accelerate our innovation.”. Thinking Beyond the Payer.

Innovation 132

Innovation Payments Cards Industry 132

PYMNTS

DECEMBER 31, 2020

Consumers waited on financial institutions (FIs) to innovate in an odd relationship that put business needs before customers’ needs. Like their cousins in banking, credit unions (CUs) long enjoyed a relaxed pace of technological change. It was all on their timetable. Not anymore. CUs Are Going Next-Gen.

Survey 235

Survey Arizona Innovation Innovation Strategies 235

Bank Innovation

SEPTEMBER 27, 2019

RBC Capital Markets has looked externally to help it consolidate data in one place, analyze it and better equip employees. Starting in 2013, RBC Capital Markets began collecting all the data it could that was relevant to its clients, including e-commerce data, trades and portfolios.

Capital 150

Capital Marketing Data Management 150

PYMNTS

JUNE 1, 2020

That is why it is critical for FIs to build out networks that can handle an increased amount of transactions or swiftly analyze large reams of data, according to Ali Niknam , CEO and founder of European digital bank Bunq. The third benefit is becoming critical to the evolving banking industry.

Innovation 132

Innovation Strategy Innovation Strategies Security 132

PYMNTS

MAY 27, 2016

The “startup nation” is recognized for not just brimming with tech innovation, but also harboring more high-tech startups and a larger venture capital industry per capita than any other place in the world. companies partner with innovation from Israel that will give them a global competitive edge,” Mavor explained. Over the last 4.5

Innovation 102

Innovation National Innovation Strategies Big Data 102

Bank Innovation

JANUARY 17, 2020

MUFG Union Bank is on track to move to a cloud core banking infrastructure system within two years, an initiative that will let the bank build and release new products more quickly, the company told Bank Innovation this week.

Innovation 195

Innovation System Security Data 195

Bank Innovation

MARCH 25, 2020

U.S. (..)

US 259

US Conference Innovation Online 259

PYMNTS

NOVEMBER 20, 2019

This rampant availability of users’ data makes it easier for bad actors to wreak havoc and commit fraud. Scotiabank’s Three-Pronged Innovation Strategy. It is really for any new innovations and trends out there, which would include fraud and cyber.”. It is estimated that more than 4.1

Fraud 117

Fraud Data Management Analytics 117

PYMNTS

APRIL 2, 2020

Competition for customers — especially millennials — from larger banks and FIs has long required credit unions to keep pace with their more innovative counterparts. This often means providing digital solutions and convenient banking options despite smaller technology and innovation budgets, however.

United States 174

United States Security Innovation Mobile 174

Bank Innovation

JANUARY 13, 2020

Now, it’s making a major bet on doing the same for data between banks and financial startups. grew into one of the world’s most valuable financial companies by serving as the pipes that help connect banks and merchants. Visa agreed to pay $5.3 billion for Plaid, a fintech firm that connects popular apps […].

Fintech 322

Fintech Data Company Innovation Strategies 322

Bank Innovation

SEPTEMBER 17, 2019

The strategy won’t result in any immediate changes in customer experience. On the heels of the fifth anniversary of Citizens Bank‘s IPO next week, the bank has launched a product and brand approach based on customer journeys called Made Ready.

Customer Experience 199

Customer Experience Data Branding Strategy 199

PYMNTS

JULY 23, 2019

When it comes to loyalty and rewards innovation, credit unions (CUs) and their members don’t always see eye to eye. Loyalty and rewards innovation tops members’ list of innovation priorities, with 49.1 percent of CUs actively invested in loyalty and rewards innovation during the past three years. Yet, only 29.4

Innovation 122

Innovation United States Innovation Strategies Survey 122