On The Web
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“Partnerships between high-flying tech companies and traditional banks, many of them tiny by comparison, are a key force behind the financial technology boom. Because virtually no tech companies have the license required to perform banking services, many of them partner with existing banks to offer a suite of services including checking accounts, credit cards and the back-end […]
Your Next Checking Account Could Get You a Spotify Subscription
“Open a checking account at Citigroup C +0.69% Inc. and you may get a free Costco membership. And a subscription to Amazon Prime, and several months of Hulu or Spotify . That could be on top of a Citi Bike membership and an invitation to a private party with graffiti artist Queen Andrea. It wasn’t so long […]
JPMorgan Launches SEPA Instant Payments
“JPMorgan is launching real-time payments across its European banking network.The roll-out of the Single European Payments Area (SEPA) Instant service means the bank now offers real-time payment capabilities in US Dollar, Pound Sterling and Euros. It said the system, which includes a single global Application Programming Interface (API), offers immediate payments finality, easier reconciliation, the ability […]
JPMorgan’s Clampdown on Data Puts Silicon Valley Apps on Alert
“Long-simmering tensions between the financial industry and Silicon Valley startups are erupting behind-the-scenes into a battle over the reams of valuable data held inside Americans’ bank accounts. In recent months, major banks including JPMorgan Chase and Capital One have led the industry into a fresh campaign to control how outsiders tap into sensitive customer information. […]
Lloyds, NatWest and Barclays Team up for Business Banking Hubs
“The first hub for SMEs will open its doors in Perry Barr, Birmingham today (11 March). The pilot will also see five other shared hubs open across the UK in the coming weeks. No specifics on that. The hubs will be branded “Business Banking Hub” and they have been designed to enable business customers from the […]
The US’s second-largest city for banking is not what you’d expect
“Despite being the US’s 17th largest city, Charlotte is the country’s second-largest banking center by assets held, trailing only New York, and with San Francisco hot on its heels. Along with the new, yet-to-be-named bank, the former gold rush town is also home to Bank of America—the nation’s second biggest bank—as well as NewDominion Bank and Carolina Premier Bank. (BB&T, […]
2019 Trends in Digital Payments: Consumers Expect Speed, Intuitive Engagement From Their Financial Institutions
“In the coming year, financial institutions will face the dual challenges of meeting those evolving consumer expectations while grappling with the complexities of a shifting digital payments environment. Financial institutions have been on a digital journey for more than a decade. The next, even more significant step on that journey is in payments.”
On The Wires
nbsp;Citi to Build Digital Consumer Payments Business for Institutions
“Citi’s Treasury and Trade Solutions (TTS) is developing a new business line for consumers to make digital payments to institutions. This is part of TTS’s overall strategy to enable digital commerce for clients and extend its significant presence and capabilities beyond the wholesale payments space. Under this umbrella, a new planned service will be made […]
Chase Launches New Checking Account to Expand Access to Banking
“The new account, available to customers today, comes with a low monthly service fee of $4.95 and all the benefits of Chase, like access to thousands of fee free Chase ATMs, Chase’s mobile app and support from bankers in person at Chase branches or over the phone.”
Wright-Patt Credit Union Selects Hypur as Their Cannabis Banking Technology Partner
“Hypur Inc. (Hypur) announced that Wright-Patt Credit Union (WPCU), one of the largest credit unions in the United States with more than $4.3 billion in assets, selected Hypur as its technology provider for their cannabis banking program in Ohio.”