Payments News

On The Web

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Domains

Finance Companies And Retailers Are Experimenting With Slack

“[A] growing number of retailers and financial companies are using it for customer service interactions. Retailers are trying it out to get to know their customers better, and banks and finance companies are testing it as a conversational banking channel. While no major bank has rolled out a Slack bot for customers (though they’ve done so on Facebook […]
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Domains

Starling Bank Raising Another £80M, Ends Partnership With TransferWise

“Back in March 2017, the two companies issued a joint press release detailing the partnership that would have given Starling customers “direct, in-app access” to TransferWise’s  international money transfer service. The functionality was due to launch the following summer but never materialised (something that seemingly went unnoticed by most outlets). Now I understand the partnership has dissolved […]
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Companies

What A Homegrown App For Millennials Has Taught Wells Fargo

““In the extensive research we undertook, we were impressed and humbled by the various life hacks that many people created on their own to help them manage money,” said Peggy Mangot, senior vice president of innovation at Wells, and head of Greenhouse development. “They used notes apps and calendar reminders for key bills. Some of […]
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Domains

Capital One Is Using Foursquare To Push Offers To Customers

“Capital One is piloting the use of location-based customer data to push offers to customers who shop at partner retailers. The bank has been working with data and analytics platform Foursquare to roll out real-time notifications within the mobile banking app. Foursquare, a nine-year-old company that began as a checkin app, is now using its technology […]
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Domains

British Fintech Startup Revolut To Seek U.S. Banking License: CEO

“The company is one of the UK’s most valuable fintech startups having raised $250 million at a $1.7 billion valuation in April. Other financial technology companies seeking banking licenses in the United States include Square Inc (SQ.N), the payments company launched by Twitter Inc (TWTR.N) CEO Jack Dorsey and digital bank Varo Money. Student lender […]
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Domains

Revolut Announces A Robinhood-like Trading Product

“Fintech startup Revolut likes to announce new things all the time. Even though nothing is going live today, it’s interesting to see where the startup is heading. The company is working on a trading platform for traditional shares without any commission. You’ll find stock from public companies from the U.K. and the U.S., as well as various ETFs […]
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Domains

N26 Now Has 1 Million Customers

“You don’t sign up for a bank account every day. And yet, German startup N26 has managed to attract 1 million clients across Europe. They generate €1 billion in transaction volume every month ($1.17 billion). It took N26  only nine months to grow from 500,000 to 1 million. And the company now plans to have 5 million users by 2020. It’s […]
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Domains

A Sea Of Sameness: As Startups Turn Into Bank-Like Platforms, Differentiation Remains An Issue

“While platforms offer opportunities to deepen relationships with customers and grow multiple revenue streams, the risk is that they will appear too similar. Founders are preparing for a scenario in a few years that will likely see a range of different platforms available for consumers, one in which maintaining a distinctive product offering will become crucial […]