The age of open banking is being accelerated by the pandemic. Finicity Founder and CEO Steve Smith told PYMNTS in an interview that, with the increasing use of online channels to do everything from opening accounts to transacting, the specter looms of account takeovers (ATOs)...
The U.K. FinTech Finastra is working with the IT services firm Hexaware to provide managed services for Finastra’s cloud-based payment solutions. “The move helps Hexaware customers in Germany, Belgium, the U.K. and Ireland take ownership of their payment infrastructure,” the two companies said in a...
As more U.S. consumers turn to financial apps in efforts to simplify banking and investment, earning their trust has become an increasingly important factor for banks and FinTechs alike — as well as the handling of consumers’ data. Eighty percent of consumers have connected a...
The financial services landscape is set to change drastically as open banking permeates and changes the way consumers view and use their financial information. As such, regulators, financial institutions and FinTechs have all been striving to create a mutually beneficial relationship surrounding the use of...
The paycheck to paycheck economy is changing what it means to be underbanked. In the past, the definition of an underbanked person was much simpler, meaning that the individual didn’t have basic deposit or checking accounts housed within a bank or credit union. However, that...
The U.S. licensed global challenger bank FV Bank announced Thursday (Oct. 28) that it will now be a Principal Member of Visa, according to a press release. FV Bank will use this to establish itself as a full-service bank, offering Visa cards and traditional banking...
U.K. FinTech super app Revolut is expanding into Mexico and the Latin American market and named Juan Miguel Guerra CEO to build and lead its entry into the region, according to a press release emailed to PYMNTS on Friday (Oct. 22). Formerly head of Bogota,...
Convenience is more important than ever in banking today, with the pandemic continuing to drive consumers’ exploration of new payment methods and technologies. Contactless payments via smartphones skyrocketed in 2020, and this trend is expected to continue. One study projected that there will be 49 billion...
The only thing rising faster than digitally connected banking is the increasing consumer expectations that surround those services. In the latest Digital-First Banking Tracker, Ally Financial's Sathish Muthukrishnan discusses how tools such as virtual assistants and wearable devices can help close the gap.
