Bank of America, Chase the Latest Banks to Buy into Blockchain

Bank of America, Chase the Latest Banks to Buy into Blockchain So much has happened with blockchain over the past couple of weeks—so very much—but let’s talk about the banks: Firstly, Bank of America is the latest to join the ranks of financial institutions experimenting with blockchain. Bank of America Merrill Lynch recently […]

LG to Jump into Mobile Payments with All-in-One Card

LG Pay – the promised new entrant into the mobile payments space – has had the industry on hold for almost a year. LG would join gSamsung and Apple as handset manufacturers getting into phone-based payments. With a new banking partner in Korea, and a reported launch date in September, is LG Pay ripe to trump the […]

IBM Offers Expanded Services and Security for Blockchain Developers

The financial industry has long discussed the benefits of adopting blockchain – or distributed ledgers – in its operations. Storing records in the cloud are still a major concern, as FIs try to figure out how to tap into the technology, but IBM’s announcement last week may go some way toward removingRead More from Bank Innovation […]

Capital One Will Triple Its Spending on Branch Optimization in 2016

Capital One is known for being a digital company, and for its celebrity-driven marketing, but it’s also a bank with branches, and those branches need to be updated. CEO Richard Fairbank usually talks about his bank’s digital efforts when he has a good audience, but on yesterday’s earnings call, heRead More from Bank Innovation […]

Walmart Pay Available for iOS Users

A new addition to the epidemic of mobile wallets, Walmart Pay, appeared on Walmart’s app in an update for iOS last week. The feature will be available “in all stores soon,” according to the company, but it’s not clear exactly when.  It is also not clear from the update ifRead More from Bank Innovation […]

Wall Between Mobile and Desktop Disappearing — But What About Payments?

Google has signaled that Android apps will soon run on Chromebooks — yet another sign that “mobile” and “desktop” experiences are converging, and that a single online experience will operate across different devices (including your refrigerator.) A Redditor spotted code this weekend indicating Google’s Chrome OS will soon allow users to enable Android Apps, presumably including Android Pay (SamsungRead More from Bank Innovation […]

Payments in Iran Now Said to Be Possible

Yet another barrier to business in Iran appears to have fallen. Paymentwall, a San Francisco online payments company, announced today that it has integrated its payment services into the Shetab, which is Iran’s “unified, electronic clearance system for the entire Iranian banking operations that allows it to facilitate transactions fromRead More from Bank Innovation […]

Security Trumps Convenience for Online Shoppers, Study Finds

Online retailers prize a smooth checkout and one-click checkouts, but it turns out customers care more about security than convenience when shopping online. (We’ll leave aside Domino’s Pizza’s “zero-click ordering for now.) Nearly half of e-commerce consumers — 48% — want more assurance that their transactions are secure, while only 20%Read More from Bank Innovation […]

Top 5 Fintech Raises: Betterment, Chase Bank, Bitt, and More

Fintech is far from a U.S.-only phenomenon, as this week’s top funding rounds make clear. The week’s top raises runs the gamut from online investments to the integration of Africa’s growing financial space; from the analysis of loan quality and security to the ever-more transparent P2P sector; to providing access to the vastRead More from Bank Innovation […]

Millennials’ Mobile Banking Usage Is Now Close to 70%

For Gen Y, the rallying cry was, “I want my MTV.” For Millennials, the cry might as well be, “I want my mobile banking.” About 67% of Millennials now use mobile banking, according to a study released today by the Federal Reserve. This compares to 18% for those consumers aged 60Read More from Bank Innovation […]