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.
Digital Banking Innovation Retail 
Temenos to help US clients launch digital banks in 90 days
Bank Innovation
JANUARY 22, 2020
The race to create a challenger bank just got more competitive with a ready-made solution from core provider Temenos that can help brands stand up a digital bank in as few as 90 days. The Switzerland-based banking technology provider launched its digital banking software-as-a-service solution in the U.S.
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Digital banks, payments startups face first major test in virus
Bank Innovation
MARCH 12, 2020
Fintech startups looking to upend how Americans do their banking are facing their first major test as interest rates fall and fearful consumers seek safety at traditional banks. mobile payments companies founded after the 2008 financial crisis, and digital banks including Chime Inc. Square Inc. and Stripe Inc.,
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Thailand strives to catch up to Asian markets on digital banking
Bank Innovation
JANUARY 10, 2020
Thailand is laying the foundations for standalone digital banks as it strives to catch up with other Asian markets that are allowing such changes, according to its central bank governor. “At
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Majority launches digital banking products for immigrants
Bank Innovation
FEBRUARY 5, 2020
Majority, a digital banking platform aimed at immigrant communities, launched to U.S. consumers this week after a four-month beta test. To expand its reach, Majority is relying on two drivers: physical meetup spaces and brand ambassadors, since it has no branches. “If
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Jack Henry the newest core provider to offer a digital bank in 90 days
Bank Innovation
FEBRUARY 9, 2020
Core providers are rolling out digital bank toolkits that can launch a new offering within 90 days, and Jack Henry is the latest contender to join that race with BankAnywhere, a cloud-based system for community banks. Jack Henry is not the first core provider to roll out a “digital bank in a box” product for […].
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Two more groups submit Singapore digital banking license bids
Bank Innovation
JANUARY 5, 2020
Two more consortiums said they submitted bids for digital banking licenses in Singapore as companies, ranging from a massage chair maker to a property giant and Chinese fintech firms, joined forces to go for the sought-after permits. Beyond Consortium, led by one of Asia’s largest massage chair makers, V3 Group Ltd.
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In Brazil, Banking Customers Turn To Debit, Digital Banking
PYMNTS
APRIL 28, 2020
These shifts have made digital banking and debit transactions more important than ever. Indian FI Paytm launched virtual and contactless plastic debit cards to help customers circumvent using cash or having to hand over physical cards to retailers. Pandemic Puts Digital Banking in the Spotlight.
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Digital Is Letting Goldman Bring Its Wholesale Pricing Prowess to Retail Banking [VIDEO]
Bank Innovation
JANUARY 26, 2018
launched its Marcus digital bank in late 2016, the conventional wisdom was the investment bank wanted to expand into retail banking. EXCLUSIVE— When Goldman Sachs & Co. But, apparently, that’s not the whole story. Marcus, it seems, is an asset pricing play, Goldman’s CEO implied yesterday.
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From Cash Registers To Curbside, Innovation Continues To Drive NCR’s Digital-First Journey
PYMNTS
JANUARY 6, 2021
And according to Doug Brown, senior vice president and general manager of digital banking at NCR , simplicity and innovation have turned what could have been a disastrous year into a transformational pivot for the better. Tackling those tougher problems to simplify things — and that’s true in banking, retail and restaurants.”.
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Look Beyond Technology for Better Digital Banking, Fiserv Says
Bank Innovation
JANUARY 10, 2018
EXCLUSIVE—With mobile banking services offered at the majority of financial institutions, innovating the digital space is becoming more important in the fintech ecosystem, especially for smaller players like regional banks or credit unions.
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Fidor to Launch Third Digital Bank in Less Than a Year
Bank Innovation
SEPTEMBER 19, 2018
It’s been quite a busy year for Germany’s first digital-only challenger bank Fidor. The bank launched two more digital banks this year, and Fidor Chief Commercial Officer Ge Drossaert told Bank Innovation there is yet another bank in the works. We […].
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210 Union Bank’s New Head of Digital Banking, Julie Demarigny, Talks Innovation
Bank Innovation
OCTOBER 8, 2018
Not even a month has passed since Julie Demarigny, a veteran in digital entertainment industry having served Warner Bros. and Sony Music, has joined West Coast focused Union Bank as its head of digital banking.
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Connected Vehicles And The Future Of Retail
PYMNTS
SEPTEMBER 18, 2019
The future of retail is playing out in multiple places, including the open road, while voice will help capture the connected commerce frontier. In B2B payments, a series of payment innovations is promising to put an end to some common frictions. 70 percent: Share of customers born after 1980 who are willing to use digital banks.
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Temenos Sees ‘Backbone’ for Digital Banking in AI
Bank Innovation
OCTOBER 30, 2018
In preparation for the future of digital banking, Temenos, the Switzerland-based banking software provider, appears to be putting its money on artificial intelligence. The company announced this month the launch of the Centre of Excellence for Artificial Intelligence to serve as its “innovation engine.”
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Banking Innovation Enters New Era; Consolidation Now The Rule
PYMNTS
DECEMBER 9, 2020
What makes the current developments so interesting and exciting is that “we're just seeing that they're at the end of the innovation growth cycle,” he explained. All of these new FinTechs and digital innovators are changing the landscape as the role of payments rapidly shifts in the broader financial services arena.
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The Rise Of eCommerce And Digital Banking Innovations
PYMNTS
OCTOBER 2, 2020
Salesforce predicts that a digital surge could strain holiday shipping. In connected vehicles, the FinTech Car IQ has teamed with Discover to accelerate automotive banking.
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Around the World in Digital Banking & Fintech: Realtime Payments, Blockchain and Wearables
Bank Innovation
JANUARY 17, 2019
There is a lot going on in fintech and digital banking around the world, not just the U.S., where Bank Innovation is based. The editorial team is compiling a biweekly list of three events that we believe will make waves in the fintech and digital banking landscape.
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199 US Bank’s White: Digital banking is now more than DIY
Bank Innovation
SEPTEMBER 12, 2019
As digital banking goes mainstream, banks are recognizing that a mobile app that lets customers carry out day-to-day tasks isn’t enough. Bank has been preparing, especially as it reports that 72% of its customers are considered “digital-active” and 50% are using mobile channels.
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The growing interest in digital banks
Insights on Business
APRIL 28, 2017
At the same time, regulators in many countries also have relaxed regulations to encourage innovation in the banking industry. As a result, many new, all-digital financial services firms, unencumbered by older, less flexible systems are aggressively pursuing customers by addressing their needs in new and distinct ways.
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Grab, Singtel team up on Singapore digital bank license bid
Bank Innovation
DECEMBER 29, 2019
to apply for a full digital banking license, jumping aboard a Singapore government initiative to attract technology firms into its financial sector. A Grab entity will own a 60% stake in the consortium that will apply for the bank license in Singapore, while the telco known […]. Grab Holdings Inc.
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Fintech Unfiltered: Inside HSBC Bank USA’s Lofty Innovation Strategy for 2018 [Podcast]
Bank Innovation
DECEMBER 13, 2018
As a part of its retail transformation strategy, HSBC Bank USA spent over $130 million on innovation projects in one year on its U.S. The bank […]. operations.
DATA: How FI’s Innovation Gap Is Big Tech’s Big Opportunity
PYMNTS
MARCH 2, 2020
It’s really difficult, the banking ecosystem is not fast and that’s just reality,” Jim McCarthy, industry expert and former innovation head for Visa, told Karen Webster in a recent conversation. The Headwinds Creating The Innovations Gap . But they all tend to have three things in common.
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Société Générale to Cut 15% of Branches as it Moves Towards Digital Banking
Bank Innovation
NOVEMBER 28, 2017
French bank Société Générale will be closing 300 of its branches as it expands it digital banking capabilities and moves to cut costs, the bank announced yesterday. The plan, which will take place over a three year period, will shutter 15% of the bank’s branch network, as well as cut 900 jobs.
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Corporate cloud-based payments: what’s that all about?
Chris Skinner
SEPTEMBER 16, 2019
I was recently asked by Volante Technologies to consider what being a digital bank means, specifically for a commercial bank and, even more specifically, the bank’s payments and treasury services.
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Canadian neobank Koho to launch credit and savings products in 2020
Bank Innovation
DECEMBER 4, 2019
Koho, a Toronto-based digital banking startup, is on track to expand its product suite to include credit and savings products in 2020, CEO Daniel Eberhard told Bank Innovation on Wednesday. In late November, the […].
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Digital Innovations In Retail, ID Verification And Banking
PYMNTS
SEPTEMBER 16, 2020
In digital-first banking, the evidence of the great digital shift is not only visible anecdotally – it is seen in the data as well. And in retail, companies in the organic mattress space are running on a tri-brid business model that covers direct to consumer (D2C), third-party retail distribution and owned retail locations.
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DenizBank, Turkey … the visible bank
Chris Skinner
JULY 20, 2017
One of the presentations I particularly enjoyed at the EFMA meeting was from Gürhan Çam, Senior Vice President- Digital Banking at DenizBank, Turkey. You will all know by now that I love the innovations in retail banking in Turkey, and Gürhan didn’t disappoint. First, there is the fastPay Wallet.
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Retail's Digital Shift, SPACs, And DoorDash's IPO Plans Top This Week's News
PYMNTS
AUGUST 28, 2020
Here’s how he sees the digital-first restaurant landscape shaking out. New Report: Helping Retail Treasurers Navigate The Digital D2C Shift (“How To” Playbook). Not only have retail sales shifted online, but more consumers are buying more of what they want directly from the brand. Trackers and Reports.
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Driving Innovation With Marketplaces, Gaming And Digital Banking
PYMNTS
SEPTEMBER 28, 2020
And in finance, credit unions are stepping up to support individuals and companies with digital banking products and greater leniency on extending loans. In technology, Amazon has unveiled its new Luna cloud gaming offering, as it became the latest Big Tech firm to launch its collection of pre-holiday shopping selections.
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Why Chase decided to drop digital-banking app Finn
Bank Innovation
JUNE 6, 2019
JPMorgan Chase's millennial-friendly digital banking app Finn is shutting down, just one year after it rolled out nationally. The […].
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Listen: Banks expect digital banking product delivery to see most innovation
BankInovation
JANUARY 18, 2022
In this episode of "The Buzz" podcast, hear how executives in retail digital banking are least confident in their organizations' ability to create a well-defined innovation strategy and measure the results. Over the next five years, banks expect most innovation to happen in product delivery.
TD Bank: Digital growth drives results
Bank Innovation
FEBRUARY 28, 2020
TD Bank’s digital strategy is showing results. The bank said it’s investing heavily in digital channels, making it the largest digital bank in Canada. TD noted that, according to App Annie data, the bank is ranked No. The bank saw a net […].
How TBC Bank Created a Neobank Called ‘Space’ in Just 8 Months
Bank Innovation
JULY 9, 2018
For a digital bank, time to market is one of the most important innovation mandates. For Lasha Gurgenidze at Tbilisi, Georgia-based TBC Bank, this mandate combined with low operational costs were the two fundamentals he and his team followed in launching TBC’s digital-first Space Neobank. “We
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Varo crosses 1 million customers, with plans to become a bank by 2020
Bank Innovation
OCTOBER 29, 2019
Digital banking brand Varo has 1 million customers, and is pushing ahead with plans to become a nationally-chartered bank early next year, CEO Colin Walsh told Bank Innovation Tuesday.
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284 Artificial Intelligence Innovation Steered By U.S. and China
PYMNTS
FEBRUARY 4, 2019
Microsoft was significantly behind that, with 5,903 patents, but that’s still good enough for the global major leagues when it comes to AI research and innovation. After that we will see areas such as retail, healthcare, manufacturing, transportation and automotive, and logistics, including warehousing/transportation/delivery.
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194 Bank of America’s Head of Digital to Speak at Bank Innovation ’17
Bank Innovation
JANUARY 24, 2017
Edward “EJ” Achtner, Bank of America‘s Head of Digital Banking – Strategy, Platforms, Innovation, and Partnerships, has joined the Bank Innovation 2017 speaker faculty. based bank.
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Pandemic Impact Affects Singapore Digital Bank License Decisions
PYMNTS
JUNE 3, 2020
The COVID-19 crisis continues to upend the economy, including even the world of digital banking. As previously reported in this space, the Monetary Authority of Singapore (MAS), the country’s central bank, announced its intention to issue five digital banking licenses last year. That was before the pandemic hit.
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Lumin, Interra Credit Union Team On CU's Digital Banking Solution
PYMNTS
OCTOBER 21, 2020
Lumin Digital ’s cloud-native platform will deliver banking solutions to Interra Credit Union ’s (Interra) 50,000-plus retail and business members, the companies said in a statement on Tuesday (Oct. Interra signed a multi-year agreement with Lumin Digital and anticipates it will be on the platform by May 2021. “We
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Banking App Emma Integrates with Challenger Bank Monzo
Bank Innovation
JANUARY 22, 2018
EXCLUSIVE – British money management app Emma has integrated with challenger bank Monzo today. Last week Bank Innovation reported Emma’s plans to partner with digital banks like Monzo and Revolut. Today, Monzo released a statement confirm that integration.
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Prospects for More De Novo Digital Banks Come Into Clearer Focus
Bank Innovation
APRIL 11, 2019
Get ready for more banks. Digital ones, that is. New data shows that consumers -- and financial institutions -- are more inclined toward greenfield digital banks. In a recent survey by Fiserv, 86% of respondents said they would consider leaving their bank, if they could not easily manage their accounts online.
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U.S. Bank Looks to Expand, But Not with a Digital Bank
Bank Innovation
JULY 18, 2018
Digital banks may be sprouting up all over the banking world, but don’t look for one from U.S. On this morning’s earnings call, CEO Andy Cecere noted the bank was looking to expand beyond its current 25-state branch footprint, which covers the Midwest and the western U.S.
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PSCU’s Lumin Teams With Vermont Credit Union To Provide Digital Banking
PYMNTS
FEBRUARY 26, 2020
PSCU’s Lumin Digital has signed the Vermont State Employees Credit Union (VSECU) to a multi-year digital banking and cloud computing agreement, Lumin announced on Wednesday (Feb. Lumin Digital will be the credit union’s digital solution for retail and business banking, as well as bill pay solutions.
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Digital bank N26 to depart the UK amid Brexit upheaval
Bank Innovation
FEBRUARY 11, 2020
N26, the Berlin-based digital-only bank that has raised more than $670 million and gained 5 million users globally, announced Tuesday that it will leave the U.K. with its European banking license. The company cited Brexit as the primary reason for the decision, saying it could no longer operate in the U.K.
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