On The Web

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Not just dumb pipes: Fintech investment slows as banks try to gain back control

April 5 2018

“The Banks in Fintech report, released this week, found that banks have been foregoing big investments and partnerships over the past five quarters with a preference for building products in house — particularly in lending, payments and personal financial management. In both the U.S. and Europe banks spent more of their architecture investment dollars on capital markets software companies […]

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The Future of Banking

March 23 2018

“So, what does the future of banking look like with access to all of this technology? The way customers interact with their financial institutions will continue to evolve and will leverage the technologies laid out in this article – even though the core tenets of banking (lending, deposit taking, and financial advice) will more than […]

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Eye on E-Commerce Fraud: CyberSource And Worldpay Harness Machine Learning And Big Data

March 22 2018

“Machine learning and huge swaths of data are being enlisted in the battle to counter online fraud, with CyberSource announcing an enhancement to its fraud-prevention service and processor Worldpay Inc. launching a new fraud-prevention service Wednesday at MRC 2018, the annual conference held by the Merchant Risk Council.”

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Five Reasons The Payments Business Is Ripe For Big Change

September 20 2018

“The fintech revolution is changing the way banks and payments companies have won and retain customers. Traditionally, one institution could serve all of your financial needs. In the near future, business and consumers will interact with multiple companies in a more decentralized, technology-driven system.”

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Zelle places its bets on corporate-customer transactions

April 30 2018

“But even though Early Warning Services, the payment network behind Zelle, has focused many of its efforts on peer-to-peer services since then, it has “several” large corporate customers that use Zelle to disburse money to individuals, said Lou Anne Alexander, Early Warning’s group president for payments. Their transactions tend to be smaller in volume but […]

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U.S. Mobile Giants Want to be Your Online Identity

September 13 2018

“The four major U.S. wireless carriers today detailed a new initiative that may soon let Web sites eschew passwords and instead authenticate visitors by leveraging data elements unique to each customer’s phone and mobile subscriber account, such as location, customer reputation, and physical attributes of the device. Here’s a look at what’s coming, and the […]

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Domains

Banks are turning branches into coworking spaces

May 21 2018

“As megabanks like JPMorgan Chase and Bank of America work on improving business banking by enabling things like digital onboarding and Zelle for business customers, small banks are working on branch innovation, mostly by turning them into coworking spaces. Earlier this year, JPMorgan Chase said despite the continuing decline of bank branches it would open 400 new ones […]

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The Pros and Cons of Postal Banking

April 30 2018

“Everything old is new again, it seems. My most recent column covers an idea for a government “job guarantee” that has faded into and out of the popular consciousness since the 1940s. Now Sen. Kirsten Gillibrand (D., N.Y.) wants to use the U.S. Postal Service to compete with retail lenders, another idea that resurfaces periodically.”

On The Wires

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T-Mobile and Sprint to Combine, Accelerating 5G Innovation & Increasing Competition

April 30 2018

“The combined company will be named T-Mobile, and it will be a force for positive change in the U.S. wireless, video, and broadband industries. The combination of spectrum holdings, resulting network scale, and expected run rate cost synergies of $6+ billion, representing a net present value (NPV) of $43+ billion will supercharge T-Mobile’s Un-carrier strategy […]

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Nearly 80 Percent of Banks Expect Real-Time Payments and Open Banking Will Drive Payments Transformation Over Time

April 30 2018

“As open banking continues its rapid ascent, nearly 90 percent (87) of banks globally plan to move forward with open APIs, according to new benchmark data, “2018 Global Payments Insight Survey: Retail Banking,” from ACI Worldwide (NASDAQ: ACIW) and Ovum. The benchmark, comprised of responses from executives across financial institutions, merchants and billing organizations such as consumer finance […]