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Is Banking’s ‘Uber’ Moment Coming?

Bank Innovation

SAN JOSE, Calif.– This was one of the key questions debated by the fintech professionals attending Bank Innovation 2017, currently taking place here. – Has banking had its “Uber moment,” or is the industry still waiting? Since then, its reputation has had […].

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Chase Leans Strategy to ‘Buy’ from ‘Build’

Bank Innovation

SAN JOSE, Calif. – The “build or buy” scale is leaning increasingly towards “buy” at JPMorgan Chase, as fintechs become less concerned with disrupting traditional banks. That’s the upshot from Adam Carson, the bank’s head of digital partnerships, during a fireside chat at Bank Innovation 2017. “In

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SnapCheck Named Best Payments API by API:World

Bank Innovation

Digital check solution SnapCheck, a graduate of INV Fintech, this site’s sister accelerator, was named Best Payments API (application programming interface) by API:World, the largest global API conference. SnapCheck will receive the award during a special ceremony at the San Jose Convention Center tonight, Sept.

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MortgageTech Owns the Stage at Finovate Spring, Day 2

Bank Innovation

SAN JOSE, Calif. It makes sense that fintech startups are taking on mortgages, but the uptake has been slow — until today. — Getting a mortgage is a terrible experience. It is expensive and time-consuming, and a lot of work to gather documents and data.

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Investing, Authentication, and a Few Bots Take the Stage at Finovate

Bank Innovation

SAN JOSE, Calif. Not all were startups (IBM) and not all were really fintech (Quid). All of them did their best to impress a passionate crowd of 1,500+ fintech fanatics. — Thirty-nine companies demoed their products to the crowd at Finovate Spring today. Here’s our take on the demos from Read More.

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PayPal Sells Consumer Loans to Long-Time Partner Synchrony Financial

Bank Innovation

Yesterday, the San Jose, Calif-based PayPal said it agreed to sell $5.8 Payments company, PayPal will sell its U.S. consumer loan portfolio to Synchrony Financial. billion in consumer credit receivables to Stamford, Conn-based Synchrony Bank, a unit of Synchrony Financial. Synchrony Bank has been PayPal’s banking partner since 2004.

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Fiserv Ratchets Up R&D Spend, CEO Says

Bank Innovation

SAN JOSE, Calif. — Fiserv has increased its research-and-development spending to 7% of revenue this year, up from 5% last year, CEO Jeff Yabuki said at the Bank Innovation 2017 conference here on Monday. In 2016, Fiserv recorded $5.5 billion in revenue — which means somewhere around $385 million flowing into tech.

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