Online

Underbanked Customers Use Mobile Banking — Maybe Too Much

By
0
April 24, 2014
Underbanked Customers Use Mobile Banking — Maybe Too Much

Mobile banking is not just for the wealthy — far from it. A report from the Federal Deposit Insurance Corporation released today says just the opposite: the underbanked are greater users of mobile banking services than those with higher incomes. But the underbanked often rely too much on their mobile devices to meet their banking...
Read More »

Mobile Payment Adoption Slows Due to Lack of Added Value

By
0
April 23, 2014
Mobile Payment Adoption Slows Due to Lack of Added Value

Put that phone away. After years of surging growth, mobile payments adoption has slowed to modest levels, according to a new survey from IDC Financial Insights. The study on consumer payments was released April 21. One focus of the study is looking at the use of “alternative” payment methods such as prepaid cards and mobile...
Read More »

Chase Updates App, Discusses Digital Wallet

By
3
April 21, 2014
Chase Updates App, Discusses Digital Wallet

JPMorgan Chase updated its iPhone app Thursday, and dropped some hints about its mobile roadmap for the rest of 2014. The newly updated app, seen at left, aims at “humanizing the user experience” for iPhone users, said Gavin Michael, Chase’s head of digital for consumer and community banking at a media event Thursday. Michael...
Read More »

Era of Mass Customization in Banking

By
0
April 17, 2014

Banks have a nearly one-size-fits-all product model which leaves value on the table. For instance, when a bank releases a new online or mobile banking system, it will often be an identical system, with the exact same interface, for all clients of a particular segment. But oil companies like Chevron have different banking needs...
Read More »

Bank of America Adds Mobile Users, Sheds Branches

By
1
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%...
Read More »

Building a Bank from Scratch

By
3
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...
Read More »

Heartbleed is a Headache for Banks

By
1
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...
Read More »

Chase and Wells See Steady (and Similar) Mobile User Growth

By
2
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...
Read More »

Kabbage Starts White-Labeling Its Lending Service

By
0
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...
Read More »

VIDEO: BBVA on How to Become a ‘Digital Bank’

By
0
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.
Read More »



Archives