Payments News

On The Web

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Providers

Consumer Expectations, Open APIs and the Evolution of Bill Pay

“The evolution of financial services over the last decade has been dictated by fintech companies with a tight focus on experience. The resulting landscape of thousands of easy-to-use options for payments, savings and planning has fundamentally changed how account holders view the relationships they have with their financial institutions.“
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Regulation

How digital banks are raising the bar for customer experience

“Digital-only challenger banks have changed customer expectations, including customer service and how customers want to use financial products. Big banks are taking notice, with companies developing sub-brands to hook younger, digital-savvy customers or others — the most recent of which is rumored to be the Royal Bank of Scotland.”
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Use

Ride hailing app Grab launches financial services unit

“South East Asian ride-hailing firm Grab has moved deeper into financial services with the launch of a dedicated unit and the introduction of micro-loans and insurance products. Grab Financial will encompass all of Grab’s fintech offerings, including payments services, rewards and loyalty services, agent network services and now also financial services.”
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Providers

Mash and Nets Partner For Pay Later Solution Across Nordics

“Mash and Nets have teamed up to provide a “pay later” solution to merchants across the Nordics. As the name suggests, this will offer consumers an option to pay later for purchases while “enabling merchants to increase their average basket size, growing their business”. At the time of purchase a user can select the Mash option from a […]
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Providers

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. […]
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Providers

Challenging the Challenger Banks

“Fintech start-ups have begun a phenomenon some call the “unbundling of financial services” through stand-alone products such as unsecured consumer loans, credit cards, checking and savings accounts, or personal financial management tools. A cohort of entities known as “challenger banks” or “neo-banks” have also entered the market in an attempt to take on digital banking […]
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Providers

Machine Learning and Data Are Powering Monzo’s Fintech Disruption

“App-only fintech startup Monzo is scaling up its machine learning capabilities and plugging employees into the rich stream of data generated by 1.7m global users as it forges ahead of the high-street banks in the digital space. Neal Lathia, data scientist and machine learning lead at the UK-based bank, told The Drum how his team […]