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 […].

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Lending Data Strategy Operations 332

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.

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Innovation Data Analytics Video 108

Bank Innovation

MARCH 6, 2020

Iwoca, a London-based small business lender, announced a debt financing round of 100 million euros ($112 million) last week to fund new loans in Germany.? “We We have seen considerable growth in the [German] market,” said Oliver Schmid, general manager of Iwoca Germany. What sets us apart from banks is we built the system from scratch […].

Lending 221

Lending US System Management 221

BankInovation

MAY 26, 2020

Dear Community Member, Last year, we inaugurated the Bank Innovation Build conference to bring together industry participants to share best practices and ideas for exceptional banking innovation operations at financial institutions. Bank Innovation Build is the one event […].

Innovation 98

Innovation Conference Community Operations 98

PYMNTS

SEPTEMBER 29, 2020

Credit unions of various sizes were eager to roll out credit card innovation plans before the COVID-19 pandemic’s onset. These expectations also drove CU executives’ innovation agendas, with 91 percent voicing serious interest in developing card product innovations. Credit Innovation Planning Reset .

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San Diego Innovation Cards California 141

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.

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Pennsylvania Analytics Maryland Innovation 173

Bank Innovation

JANUARY 23, 2020

Ally Financial this week reported it’s continuing its winning streak in deposit growth. In a third-quarter earnings report, the bank reported total deposits of $119.2 billion, up 18% year over year. Meanwhile, the bank’s customer retention rate stands at 96%, a level it characterized as “stable and strong.” Ally revealed that it has 1.94

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Report Lending Innovation Strategies Marketing 221

Bank Innovation

AUGUST 16, 2019

based peer-to-peer lending platform, hit a $10 billion milestone in loans to small- to medium-sized (SME) businesses on Thursday. The nine-year-old company plans to continue to develop its “partnership strategy,” Bernard Martinez, U.S. managing director at Funding Circle, told Bank Innovation. In the U.S.,

Strategy 150

Strategy Lending Innovation Management 150

Bank Innovation

AUGUST 2, 2019

American Express acquired business-to-business payment company Acompay this week, allowing the company to automate the accounts payable process for business customers. The acquisition comes at a time when large institutions are looking to grow their business clientele through new underwriting tools and other technology.

Lending 170

Lending Tools Technology Payments 170

Bank Innovation

MARCH 19, 2020

What is the role of innovation in response to these rapidly unfolding events? For insights into these questions, Bank Innovation and INV Fintech, its sister banking innovation services platform, will present a special Zoom meeting on […]. How will banks and startups work together?

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Meeting Fintech Innovation Customer Experience 293

PYMNTS

FEBRUARY 23, 2020

To offer expanded services as it pursues a digital innovation strategy of harnessing partnerships to provide an enhanced customer experience, Fifth Third is teaming with Fundation for small business loans. Graziano continued, “This collaboration does exactly that.

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Customer Experience Innovation Strategies Guidelines Meeting 130

BankInovation

JUNE 26, 2020

economy began to show signs of recovery after the initial shockwaves of the Great Depression, General Electric launched a point-of-sale lending product to provide cash-strapped customers with installment loans so the manufacturer could sell its product. Almost a century ago, when the U.S.

Lending 98

Lending Capital Customer Experience Innovation Strategies 98

BankInovation

JUNE 3, 2020

Bank Innovation is proud to announce the Bank Innovation Build 2020 Virtual Experience, designed to provide industry professionals the insights, strategies and best practices to propel their innovation teams to success. Produced by Bank Innovation and Royal Media, Build will take place Sept. 9 and 10 online.

Innovation 64

Innovation Strategy Industry Online 64

Bank Innovation

FEBRUARY 24, 2020

A “Shark Tank”-style pitch competition has been launched at Citizens Bank, allowing employees to compete for internal innovation fund dollars with ideas focused on the next generation of products and services. RJ Sherman, vice president of innovation at Citizens, did not specify the level […].

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Innovation Innovation Strategies Strategy Lending 284

Bank Innovation

AUGUST 5, 2019

expansion strategy. based digital lender OakNorth is using its tech platform as the pillar of its U.S. The company, which has a U.K. banking license and is currently valued at $2.8

Lending 199

Lending Strategy Company Innovation Strategies 199

Bank Innovation

APRIL 29, 2020

Great Southern Bank is using lending technology from the cloud banking vendor nCino to increase efficiency for commercial and retail loan officers. “We

Lending 259

Lending Retail System Operations 259

BankInovation

JUNE 9, 2020

Vanessa Colella, Citibank’s chief innovation officer and head of Citi Ventures, will sit down for a fireside chat at Bank Innovation Build, which takes place from Sep. Now, more than ever, companies of all sizes need to make space for innovation and empower employees to ask questions, experiment and challenge […].

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Innovation Company Customer Experience Innovation Strategies 64

BankInovation

MAY 5, 2020

based bank is leveraging the program to reach new customers and jumpstart its SMB lending business — and is doing so with […]. The Sparks, Nev.-based

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Lending Payments Innovation Strategies Strategy 69

Bank Innovation

MARCH 4, 2020

Payitoff, a white-label platform that provides automated guidance on student loan repayment, won the 2020 Bank Innovation Ignite DEMOvation contest.

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Innovation Company Customer Experience Innovation Strategies 243

BankInovation

JULY 17, 2020

Point-of-sale lending, meanwhile, is continuing its rapid growth trajectory. Credit unions are rejecting some of the big core providers and instead choosing startups to overhaul their technology. Royal Oak, Mich.-based based banking software company Bankjoy has grown its customer base by 50% since the start of the pandemic.

Lending 64

Lending Software Technology Company 64

Bank Innovation

JULY 22, 2019

Citizens Bank is accelerating its tech investments to speed up migration to the cloud, as well as to support new digital products and services. The bank will make a net investment of about $50 million over the next two years that will be put toward “reinventing” point-of-sale payment experiences and new digital offerings for commercial […].

Lending 170

Lending Payments Innovation Strategies Software 170

Bank Innovation

JULY 22, 2019

Citizens Bank is accelerating its tech investments to speed up migration to the cloud, as well as to support new digital products and services. The bank will make a net investment of about $50 million over the next two years that will be put toward “reinventing” point-of-sale payment experiences and new digital offerings for commercial […].

Lending 170

Lending Payments Innovation Strategies Software 170

Bank Innovation

MARCH 4, 2020

Embedded finance, or the concept of payments and banking being appended to other consumer use cases, is quickly evolving beyond retail and e-commerce, industry executives said at the Bank Innovation Ignite forum in Seattle this week.

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Seattle Innovation Examples Retail 273

Bank Innovation

NOVEMBER 25, 2019

She told Bank Innovation that her […]. Roady, who has been on MoneyLion’s board of directors since 2016, was previously a founding partner at GAIN Capital and president of its global retail brokerage business.

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Innovation Capital Retail Operations 293

Bank Innovation

MARCH 4, 2020

Payitoff, a white-label platform that provides automated guidance on student loan repayment, won the 2020 Bank Innovation Ignite DEMOvation contest. With the win, Payitoff has been awarded an advertising package on Bank Innovation worth $10,000. Rodrigo Suarez, principal of INV Fintech, moderated the startup pitch competition. “We

Innovation 195

Innovation Fintech Company Customer Experience 195

Bank Innovation

OCTOBER 31, 2019

Digital financial services from lending to asset management are expected to generate at least $38 billion of annual revenue across Southeast Asia by 2025, more than tripling from $11 billion in 2019, according to a new study by Bain & Co., Online lending will comprise about half that total for […].

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Study Lending Google Online 186

Bank Innovation

APRIL 16, 2020

EST, Bank Innovation will host a Zoom meeting for subscribers titled “Regulators’ and Financial Institutions’ Pandemic Responses: What Do We Know, What Can We Know, and When Can We Know It?” On Tuesday at 12 p.m.

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Meeting Regulation Innovation Fintech 273

Bank Innovation

APRIL 20, 2020

Melissa Stevens, chief digital officer of the 160-year-old Fifth Third Bank, is using data to advance the bank’s innovation and customer service strategy, one that hinges on being a relationship-based bank.

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Data Strategy Innovation Customer Experience 259

Bank Innovation

APRIL 7, 2020

Together with Galileo, we will partner to build on our companies’ strengths to drive even greater financial technology innovation, making those products and […]. In a year of major fintech acquisitions, SoFi today announced a $1.2

Financial Technology 259

Financial Technology Innovation Fintech Technology 259

Bank Innovation

MARCH 31, 2020

Kabbage told Bank Innovation earlier this month the company had more than 500 employees. Small business lender Kabbage is furloughing a significant number of its U.S. employees, according to a company spokesperson. The company also said it is closing its Bangalore office, while the executive team is taking a considerable pay cut.?

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Innovation Company Innovation Strategies Strategy 259

BankInovation

JUNE 26, 2020

Payability, a digital SMB lender, has seen its lending portfolio surge 50% since the start of the pandemic, CEO Keith Smith told Bank Innovation. The company offers an invoice factoring product that pays clients’ invoices up front in exchange for a portion of the total.

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Lending Innovation Company Customer Experience 98

Bank Innovation

MARCH 31, 2020

Dear Reader, For 25 years, Royal Media, Bank Innovation’s publisher, has dedicated itself to serving its business communities with professionalism and integrity. Today, the coronavirus pandemic has created significantly more complexity and uncertainty in our daily lives.

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Community Innovation Customer Experience Resources 243

Bank Innovation

MARCH 11, 2020

At Royal Media, Bank Innovation‘s publisher, we take great pride in the value of our exceptional industry conferences and the effort we put into their production. We rightly view our more than a dozen annual conferences as crucial opportunities for business development in our industries.

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Conference Innovation Industry Customer Experience 243

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 […].

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Fintech Lending Technology Company 221

PYMNTS

AUGUST 22, 2019

Jamie Warder, head of digital banking for KeyBank , noted that challenger banks’ newfound popularity may be forcing legacy institutions to innovate, granting them more opportunities to better engage and serve customers. “At Legacy Banks and the Innovation Game. where they are measuring their services against legacy FIs.

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Innovation Digital Banking Fintech US 109

Bank Innovation

NOVEMBER 21, 2019

Albert Chang, counsel at the Consumer Financial Protection Bureau‘s innovation office, said […]. In light of the increased oversight, however, industry practitioners emphasize the role of AI as a catalyst for a more inclusive process.

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Apple Regulation Innovation Cards 243

BankInovation

JUNE 12, 2020

Point-of-sale (POS) lending continues to make headlines. ChargeAfter, a POS lending startup, announced this week it is looking to expand its partnership with the Japanese banking giant MUFG. Bank Innovation […].

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Lending Innovation Customer Experience Innovation Strategies 64