Fintech and Innovation Strategies - Community Banking Brief

Inside The Royal Bank of Scotland’s Innovation Strategy

Bank Innovation

SEPTEMBER 6, 2017

EXCLUSIVE – Traditional banks cannot afford to ignore fintechs. The impact of fintechs on how people bank has not gone unnoticed by The Royal Bank of Scotland, who over the past 18 months under […]. What started out as a nascent subsect of the broader financial space is now at the forefront of how people bank.

Innovation Strategies

Innovation Strategies Strategy Innovation Fintech

Rebeca Romero Rainey: Developing innovation strategy

Independent Banker

OCTOBER 31, 2021

That’s why ICBA has focused so intently on innovation strategy over the past few years. From building an internal innovation team to launching programs like the ThinkTECH Accelerator, we have dedicated resources in support of community bank innovation.

Innovation Strategies

Innovation Strategies Innovation Strategy Community Bank

Fifth Third’s Fintech Efforts Seen Generating $100 Million of Annual Revenue

Bank Innovation

JUNE 25, 2018

PREMIUM - The digital and innovation strategy behind Fifth Third, one the largest regional banks in the country, is simple: build, buy, partner. That strategy has worked well for the bank.The company told Bank Innovation that it has invested $100 million in fintech over the past 22 months and that it expects to make about […].

Fintech

Fintech Innovation Strategies Regional Strategy

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. operations. These projects range from less visible, but equally important, system upgrades on the back-end and more visible ones like installing Softbank’s robot Pepper in its New York flagship.

Innovation Strategies

Innovation Strategies Strategy Innovation New York

University of Toronto launches fintech bootcamp to meet local labor demand

Bank Innovation

JANUARY 29, 2020

With nearly 200 startups, five major banks, 19 venture capital firms and representation from large tech companies like Google, Facebook, PayPal, Toronto is quickly becoming a center for fintech entrepreneurship.

Meeting

Meeting Fintech Google Study

Banks push for more fintech startup collaborations, despite failures

Bank Innovation

AUGUST 2, 2019

When it comes to bank-fintech collaborations, banks are finding more failure than success. That’s according to a study by Bank Innovation and INV Fintech, a startup accelerator, released today.

Fintech

Fintech Study Innovation Innovation Strategies

Centana Growth Partners closes $375m fintech fund

Bank Innovation

DECEMBER 10, 2019

based growth equity firm, closed its second fintech valued at $375 million this week. Centana Growth Partners, a New York and Palo Alto, Calif.-based The firm, which closed a $250 million fund in 2015, primarily invests in business-to-business technology companies.

Fintech

Fintech New York Technology Company

Join our ‘Fintech in the Age of Coronavirus’ Zoom meeting (Subscribers Only)

Bank Innovation

MARCH 19, 2020

How will banking and fintech business models be impacted by this unprecedented coronavirus pandemic? What is the role of innovation in response to these rapidly unfolding events? How will banks and startups work together?

Meeting

Meeting Fintech Innovation Customer Experience

Bank-fintech partnerships are a necessity, not a fad

Bank Innovation

OCTOBER 17, 2019

A recent Forbes article claims the fad is over for bank-fintech partnerships. The fad might be over, but the imperative for banks to partner with fintechs is anything but. Nevertheless, in our experience at INV Fintech, […].

Fintech

Fintech Innovation Strategies Strategy Innovation

For startups to bridge banks’ fintech gap, innovation execution needs a reality check

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. Even […].

Innovation

Innovation Fintech Study Survey

Commerzbank’s Digital Innovation Strategy in Germany’s Cash-Heavy Economy

Bank Innovation

AUGUST 15, 2018

In some markets, banks and fintechs are a long way from overcoming the dependence on cash. billion ($513 billion) in assets, and boasting a 50-person innovation lab, implementing fintech for a fiat-focused market has its challenges. This challenge is felt at Germany’s Commerzbank. What is striking […].

Innovation Strategies

Innovation Strategies Innovation Strategy Fintech

Mastercard’s bet on fintech pays off with higher card spending

Bank Innovation

JANUARY 29, 2020

The company has been starting card programs for fintechs including Brex Inc., Mastercard Inc.’s s new initiative to team up with more startups on credit cards is starting to pay off. Revolut Technologies Inc. and TransferWise Inc., and has unveiled programs designed to make it easier for startups to join Mastercard’s network.

Cards

Cards Fintech Technology Company

Fintechs, lacking guidance, pivot to SBA loans

Bank Innovation

APRIL 3, 2020

Treasury Secretary Steve Mnuchin last weekend confirmed “any fintech lender” will be authorized to make small business loans as part of the Coronavirus Aid, Relieve and Economic Security (CARES) Act. Despite the goal to have the program up and running by today, digital lenders remain uncertain how it will work and how much it […].

Fintech

Fintech Security Customer Experience Innovation Strategies

Compliance spend may take toll on fintechs

Bank Innovation

APRIL 21, 2020

Lenders have had to spend unprecedented funds on compliance in the first quarter, which could shift resource allocation at banks and credit unions and hamper post-pandemic fintech partnerships.

Compliance

Compliance Fintech Resources Innovation Strategies

Fintechs launch SBA PPP platforms amid stimulus scramble

Bank Innovation

APRIL 3, 2020

As banks scramble to stand up digital interfaces and participate in the SBA Paycheck Protection Program (PPP) that launched today, fintech providers are rolling out different technology platforms to help lenders process the flood of small business loan applications.

Fintech

Fintech Security Technology Innovation Strategies

Why Automation is Key to Chesapeake Bank’s Innovation Strategy for 2019

Bank Innovation

JANUARY 7, 2019

Automation is the theme that best describes Chesapeake Bank’s innovation roadmap for 2019, Kevin Wood, managing director of the state-chartered community bank’s business lending division, Cash Flow, told Bank Innovation. “One

Innovation Strategies

Innovation Strategies Innovation Strategy Maine

California’s fintech startups are invading New York

Bank Innovation

DECEMBER 3, 2019

When two Irish brothers started Stripe Inc. together in 2010, there was little question about where they should put their headquarters. It had to be California. Now, though, Stripe is leaving the tech mecca of San Francisco, awash in tech talent and investor cash, and is in the process of moving its main office about 10 […].

New York

New York San Francisco California Fintech

Thai bank targets $1 billion spinoff among Its fintech units

Bank Innovation

NOVEMBER 22, 2019

Siam Commercial Bank Pcl plans to spin off some of its fintech divisions as it tries to monetize its push into technology investment at a time of sluggish earnings from traditional lending. The nation’s third-biggest lender by assets expects one of the fintech units has the potential to become a ‘unicorn,’ or a private company […].

Fintech

Fintech Lending Technology Company

With Plaid, Visa embeds itself deeper into the fintech ecosystem

Bank Innovation

JANUARY 14, 2020

billion acquisition of data aggregator Plaid puts the company’s tool set at the center of financial services innovation. “Fintechs are increasingly developing on bundling and repackaging financial services payment and funds, […]. Visa‘s $5.3

Fintech

Fintech Tools Innovation Data

Bank Customer Experience Summit to address fintech strategies for customer experience

ATM Marketplace

AUGUST 24, 2021

Fintech companies are continually developing innovative strategies to reach out to a changing customer base during uncertain times. 13 to 15, will deliver multiple sessions on fintech strategies and how to use them. The Bank Customer Experience, being held in Chicago from Sept.

Customer Experience

Customer Experience Strategy Fintech Innovation Strategies

Moody’s: I-Banks spend $72B annually to fend off fintechs

Bank Innovation

FEBRUARY 19, 2020

Global investment banks are making major digital investments to keep pace with fintechs, Moody’s Investors Service reported in a research note this week. While they are increasingly partnering with fintechs, the […].

Fintech

Fintech Study Report Innovation Strategies

Too many innovation strategies place speed over discipline

Payments Source

MARCH 20, 2019

In the era of digital transformation, it can be easy to mistake activity for achievement. A disciplined approach is needed, writes Tim VanTassel, a vice president at FICO.

Innovation Strategies

Innovation Strategies Strategy Innovation Fintech

For startups to bridge banks’ fintech gap, innovation execution needs a reality check

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. Even […].

Innovation

Innovation Fintech Study Survey

Will COVID-19 burst fintech’s funding bubble?

Bank Innovation

APRIL 8, 2020

Fintechs will likely have a tough time securing funding as the coronavirus pandemic continues to shake up the U.S. economy, prompting investors to tighten purse strings.

Fintech

Fintech Security Industry Innovation Strategies

Banking licenses an opportunity to create fintech hub in Singapore

Bank Innovation

JANUARY 20, 2020

Singapore is becoming a haven for e-commerce companies looking to get into banking in Asian markets. In 2019, the Monetary Authority of Singapore announced it would issue three digital wholesale bank licenses and two digital full bank licenses, challenging Singapore’s legacy financial institutions, CNBC reported.

Fintech

Fintech Marketing Report Company

Slew of New Speakers Joins Bank Innovation Israel

Bank Innovation

SEPTEMBER 29, 2016

A host of new speakers joined Bank Innovation Israel 2016 in recent days. We’ve also revised the agenda to provide a deeper understanding of the current fintech market. Specifically, we’ve added a session entitled “Corporate Innovation Strategies,” which will explore the intersection between fintech and traditional banking.

Innovation

Innovation Innovation Strategies Strategy Fintech

SBA loans, SoFi and Galileo take center stage

Bank Innovation

APRIL 13, 2020

One week after the Small Business Administration launched its Paycheck Protection Program, banks and fintechs alike are still navigating best practices to get funding into the hands of small business clients. As COVID-19 continues to rattle the economy, startups are launching new products and features to engage customers.

Fintech

Fintech Customer Experience Innovation Strategies Strategy

OnDeck’s Noah Breslow on building a community business bank

Bank Innovation

DECEMBER 19, 2019

In this episode of Fintech Unfiltered, which is sponsored by Blend, Bank Innovation sat down with OnDeck CEO […]. Through its application for a bank charter, the company wants to become a full-service digital bank for small businesses it says are overlooked by traditional banks.

Community

Community Lending Innovation Digital Banking

European fintechs escape troubles afflicting established banks

Bank Innovation

AUGUST 14, 2019

European fintech companies raised $3.3 When Swedish banking firm Klarna became Europe’s most valuable financial technology startup last week, it was only the latest sign that digital finance has escaped the troubles afflicting legacy lenders. Its latest fundraising gave Klarna, which facilitates online installment payments, a $5.5

Fintech

Fintech Financial Technology Capital Online

OCC’s Otting: Fintech charter will see the light of day

Bank Innovation

NOVEMBER 12, 2019

Despite a recent legal challenge, Comptroller of the Currency Joseph Otting said the regulator will continue to advocate for passage of the OCC’s special purpose fintech charter. At the RegTech 2019 conference in New York on Tuesday, he reiterated the case for having nonbanks that offer banking services under regulatory oversight.

Fintech

Fintech New York Conference Regulation

Weekly Wrap: Banner week for fintech acquisitions

Bank Innovation

FEBRUARY 21, 2020

Welcome to the latest episode of our Weekly Wrap series, for the week ending Friday, Feb.

Fintech

Fintech Digital Banking Customer Experience Innovation Strategies

Weekly Wrap: Visa acquires Plaid and retailers embrace fintech

Bank Innovation

JANUARY 17, 2020

Welcome to the latest episode of our Weekly Wrap video series, for the week ending Friday, January 17, 2019.

Retail

Retail New York Video Conference

Weekly Wrap: SBA loans, SoFi and Galileo take center stage

Bank Innovation

APRIL 10, 2020

One week after the Small Business Administration launched its Paycheck Protection Program, banks and fintechs alike are still navigating best practices to get funding into the hands of small business clients. As COVID-19 continues to rattle the economy, startups are launching new products and features to engage customers.

Fintech

Fintech Customer Experience Innovation Strategies Video

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. Square Inc. and Stripe Inc., mobile payments companies founded after the 2008 financial crisis, and digital banks including Chime Inc.

Digital Banking

Digital Banking Payments Fintech Mobile

Fintechs, armed with direct SBA lender status, await more funding

Bank Innovation

APRIL 20, 2020

The $349 billion Congress set aside for small businesses as part of the Coronavirus Aid, Relief and Economic Security Act ran out on Thursday, and digital lenders are anxiously awaiting the next round of funding to deliver what they say is a better customer experience. There are still millions of [small and medium sized businesses] […].

Customer Experience

Customer Experience Fintech Security Innovation Strategies

Fintech task force deliberates pros and cons of ‘big data’

Bank Innovation

NOVEMBER 26, 2019

More than 2.5 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.

Big Data

Big Data Data Fintech Innovation Strategies

Acorns CEO Noah Kerner Attributes Growth to Keeping Things Simple

Bank Innovation

APRIL 9, 2018

If there’s one word that describes the abiding value of investment platform Acorns’ innovation strategy, that’s the word, according to its CEO Noah Kerner, who is currently gearing up to launch Acorns Later in the coming weeks. EXCLUSIVE- Simplicity.

Innovation Strategies

Innovation Strategies Taxes Strategy Innovation

Survey results: Coronavirus and the state of banking innovation

Bank Innovation

MARCH 30, 2020

Given the significant challenges we’re facing with the ongoing coronavirus pandemic, INV Fintech and Bank Innovation conducted a brief survey from March 18 to 25, to gauge industry sentiment and understand practices going forward.

Survey

Survey Innovation Fintech Industry

Fraud risk could run to billions in PPP loans

Bank Innovation

APRIL 14, 2020

Last week saw banks and fintechs scrambling to stand up platforms to process Paycheck Protection Program loans, and now the struggle is to keep the platforms running while weeding out potentially fraudulent applications. Fraud is a common trend with government relief programs.

Fraud

Fraud Trends Fintech Innovation Strategies

Weekly Wrap: MoneyLion prepares for growth, as fintechs focus on holiday promotions

Bank Innovation

NOVEMBER 27, 2019

Welcome to the latest episode of our weekly wrap video series, for the week ending Friday, November 29, 2019.

Video

Video Fintech Operations Customer Experience

Survey: Coronavirus and the State of Banking Innovation

Bank Innovation

MARCH 18, 2020

The coronavirus pandemic is already having deep ripple effects across the economy and within the banking and fintech ecosystems. At the same time, the drastic rate cut and other macro implications will likely force existing banking and fintech business models to rapidly adapt, […].

Survey

Survey Innovation Fintech Innovation Strategies

Fiserv: Open banking key to banks’ survival

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

Innovation Fintech Data Technology

Visa to buy Plaid for $5.3 billion in bid to reach startups

Bank Innovation

JANUARY 13, 2020

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

Fintech

Fintech Data Company Innovation Strategies

Weekly Wrap: Luge Capital courts early-stage fintechs, as payment providers rustle with UX and data privacy

Bank Innovation

OCTOBER 25, 2019

In this episode, Suman Bhattacharyya, deputy editor, and Angely Mercado, associate editor, discuss the following news developments: Canadian venture firm Luge Capital’s approach to fintech investments; How banks are navigating Zelle’s UX as transaction volume grows; and […].

UX

UX Capital Fintech Video

Inside The Royal Bank of Scotland’s Innovation Strategy

Rebeca Romero Rainey: Developing innovation strategy

Trending Sources

Fifth Third’s Fintech Efforts Seen Generating $100 Million of Annual Revenue

Fintech Unfiltered: Inside HSBC Bank USA’s Lofty Innovation Strategy for 2018 [Podcast]

University of Toronto launches fintech bootcamp to meet local labor demand

Banks push for more fintech startup collaborations, despite failures

Centana Growth Partners closes $375m fintech fund

Join our ‘Fintech in the Age of Coronavirus’ Zoom meeting (Subscribers Only)

Bank-fintech partnerships are a necessity, not a fad

For startups to bridge banks’ fintech gap, innovation execution needs a reality check

Commerzbank’s Digital Innovation Strategy in Germany’s Cash-Heavy Economy

Mastercard’s bet on fintech pays off with higher card spending

Fintechs, lacking guidance, pivot to SBA loans

Compliance spend may take toll on fintechs

Fintechs launch SBA PPP platforms amid stimulus scramble

Why Automation is Key to Chesapeake Bank’s Innovation Strategy for 2019

California’s fintech startups are invading New York

Thai bank targets $1 billion spinoff among Its fintech units

With Plaid, Visa embeds itself deeper into the fintech ecosystem

Bank Customer Experience Summit to address fintech strategies for customer experience

Moody’s: I-Banks spend $72B annually to fend off fintechs

Too many innovation strategies place speed over discipline

For startups to bridge banks’ fintech gap, innovation execution needs a reality check

Will COVID-19 burst fintech’s funding bubble?

Banking licenses an opportunity to create fintech hub in Singapore

Slew of New Speakers Joins Bank Innovation Israel

SBA loans, SoFi and Galileo take center stage

OnDeck’s Noah Breslow on building a community business bank

European fintechs escape troubles afflicting established banks

OCC’s Otting: Fintech charter will see the light of day

Weekly Wrap: Banner week for fintech acquisitions

Weekly Wrap: Visa acquires Plaid and retailers embrace fintech

Weekly Wrap: SBA loans, SoFi and Galileo take center stage

Digital banks, payments startups face first major test in virus

Fintechs, armed with direct SBA lender status, await more funding

Fintech task force deliberates pros and cons of ‘big data’

Acorns CEO Noah Kerner Attributes Growth to Keeping Things Simple

Survey results: Coronavirus and the state of banking innovation

Fraud risk could run to billions in PPP loans

Weekly Wrap: MoneyLion prepares for growth, as fintechs focus on holiday promotions

Survey: Coronavirus and the State of Banking Innovation

Fiserv: Open banking key to banks’ survival

Visa to buy Plaid for $5.3 billion in bid to reach startups

Weekly Wrap: Luge Capital courts early-stage fintechs, as payment providers rustle with UX and data privacy

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