Philip Ryan

Philip Ryan is Associate Editor of Bank Innovation. He worked as a web developer for the Fund for the City of New York for six years, and was an HTML developer at Ocean-7 Development back in the go-go ’90s. He has more than 15 years' experience in online journalism. He can be reached at pryanrmg1@gmail.com.


Bank of America Adds Mobile Users, Sheds Branches

April 16, 2014
Bank of America Adds Mobile Users, Sheds Branches

Mobile users continue to grow at Bank of America. The bank grew mobile users by 4% in the first quarter of 2014, while shedding 1% of its branches. Mobile users reached 15 million, almost 20% higher than one year ago. JPMorgan Chase and Wells Fargo both saw about 5% QOQ mobile user growth. 10%...
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VIDEO: Samsung Galaxy S5 Fingerprint Scanner Hacked

April 15, 2014

Oops! Looks like Samsung‘s fingerprint scanner has already been hacked, revealing problems with its implementation. The scanner allows unlimited attempts before asking for a password, and does not require a password after restarting the device. Apple’s iPhone 5S avoids these two pitfalls. The video below shows white hat hackers spoofing a fingerprint and accessing...
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Building a Bank from Scratch

April 15, 2014
Building a Bank from Scratch

The bank of the future probably won’t be made of brick or stone, and may not be much to look at. It’s easier to say what it will do. Entrepreneur and startup mentor Jack Gavigan, who traded tweets with Marc Andreessen and others on the subject back in February, elaborated on his vision for a...
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VIDEO: PayPal Leaps to the Forefront of Biometric Authentication

April 14, 2014
VIDEO: PayPal Leaps to the Forefront of Biometric Authentication

Biometrics have arrived, and not a moment too soon. The so-called Heartbleed vulnerability has just about everyone worried about the fidelity of passwords, which are hard to remember and not secure anyway. Fingerprint scanners and other forms of biometric authentication are both easier and far safer and have long been held up as potential...
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Heartbleed is a Headache for Banks

April 11, 2014
Heartbleed is a Headache for Banks

Bank systems are generally thought to be safe from the direct effects of the Heartbleed bug, according to security experts, but the galaxy of vendors and service organizations — to say nothing of employee devices — are another matter. The Heartbleed exploit refers to a weakness in OpenSSL, an authorization and encryption protocol that...
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Chase and Wells See Steady (and Similar) Mobile User Growth

April 11, 2014
Chase and Wells See Steady (and Similar) Mobile User Growth

Mobile users continue to grow at a steady clip at two of the nation’s largest banks. Both JPMorgan Chase and Wells Fargo saw about 5% quarter-over-quarter growth in active mobile users for the first quarter of 2014. Chase’s active mobile users hit 16.4 million, up from 15.6 million last quarter. Chase saw a similar...
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VIDEO: Alternative Lenders Are So Hot Right Now

April 10, 2014
VIDEO: Alternative Lenders Are So Hot Right Now

If you need to borrow money, you picked a great time. New “alternative” –meaning nonbank — lenders are popping up every day. Within the past week, Kabbage, a small business lender, and SoFi, which helps refinance student loans, received large votes of votes of confidence from investors. More recently, person-to-person lender Peerform received $1...
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Kabbage Starts White-Labeling Its Lending Service

April 9, 2014
Kabbage Starts White-Labeling Its Lending Service

The recent successes of online lenders has made them attractive to investors — and now banks are entering the fray. Small-business lender Kabbage will soon white-label its service to “a very large financial services company,” according to TechCrunch. The online lender recently secured a $270 million credit facility from Guggenheim Securities, an investment arm of...
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VIDEO: BBVA on How to Become a ‘Digital Bank’

April 8, 2014

Angel Cano, COO of BBVA, explains the process of making BBVA into a digital bank in this video. Among other things, he discusses speeding up business processes, simplifying project roadmaps, improving the customer experience and the importance of not wearing ties.
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Risk, Compliance Top Concerns for Bitcoin Startups

April 8, 2014
Risk, Compliance Top Concerns for Bitcoin Startups

It’s no longer the Wild West for virtual currency startups — all 2,000 of them. The regulators (and tax collectors) have virtual currencies in their cross-hairs, and the startups must learn to operate in a regulated space. There is tension in the bitcoin community over compliance. There will always be an anarchic element to...
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