For banks, reimbursing victims of Zelle-related fraud is only a partial solution. It’s a retroactive redress. But to really address the issue, financial institutions (FIs) will need every technologically advanced tool at their disposal. As reported this week, seven of America’s largest banks are crafting a...
Everything’s digital now, and paper check fraud hails from a bygone age, right? Wrong. Data finds the exact opposite, as the glaring problem with remote check capture is that it leaves the actual paper instrument still out there to be altered or able...
In the evolution of FinTech in any given market, there are certain phases and milestones that can be observed. For example, the development of payment applications typically precipitates a wave of digital banks that cater to increased consumer appetite for digital payments. In Saudi Arabia,...
Varo will offer the peer-to-peer payment network Zelle as part of its mobile app, the digital bank announced Tuesday (Nov. 15). With this launch, Varo says it has become the first all-digital bank to offer Zelle in its app without needing a partnership with a bank. “The addition of Zelle...
As it enters its next stage of growth, investing and banking app Stash has added eCommerce expert and venture investor Liza Landsman as an independent board member. Landsman serves as a general partner at global venture capital firm New Enterprise Associates (NEA). Before that, she...
Aiming to meet the evolving needs of consumers and merchants, the Royal Bank of Canada (RBC) has become the latest issuer to add installment plans enabled by Visa. With Installments Enabled by Visa, which was launched by Visa in Canada last year, eligible RBC personal...
J.P. Morgan plans to open both a new local head office and a new Payments Innovation Lab within that office in Athens, Greece. The new office will support the growth of the company’s businesses in the country and will be the new location for its...
Digital banking platform Temenos says it is working with Vietnam’s Sacombank to offer the bank’s 15 million customers “a seamless omnichannel experience.” Sacombank will use Temenos’s Infinity product to capture a “comprehensive 360-degree customer view, helping Sacombank to acquire, service, retain and cross-sell to customers,...
With decades-old legacy infrastructure and the rise of digital-only players disrupting the banking space, financial institutions (FIs) stand to gain a lot from digital transformation. But modernizing legacy banking systems is not without its challenges, some of which are the hefty investments and significant delays...
