The FinTech startup Plaid says that getting a clear picture of a consumer’s transaction data is critical to improving their access to better financial products. By cleaning up and classifying transaction data, and making it available on a need-to-know basis, Plaid is creating a new...
“The notion of having a single financial relationship is really a thing of the past,” said Todd Clark, president and CEO of CO-OP Financial Services, a 40-year-old, nationwide credit union service organization (CUSO). The key for financial institutions (FIs) is to position themselves as the...
Customers today are demanding more compelling user experiences from their banks. “They’re demanding more access, they’re demanding higher levels of performance,” Fastly Director of Serverless Support Strategy Austin Spires told PYMNTS in an interview. And crafting those new experiences requires technology that is efficient and...
The year 2020 was a game-changer for banks as pandemic-related restrictions on in-person banking forced or greatly accelerated digital transformations. Despite that restrictions have eased, the pressures on banks have not diminished. The rapid digital shift has left traditional banks vulnerable to competition from FinTechs, Big Tech firms and other fleet-footed newcomers to...
Today in digital banking, BECU highlights the digital transformation of credit unions. Plus, Visa and UnionBank team up on Visa’s FinTech Fast Track program, and PNC redesigns branch banking. Visa, UnionBank Collaborate To Offer FinTechs Personalized Payment Gateways UnionBank of the Philippines is partnering with...
It is no secret that banking has evolved dramatically since the pandemic struck more than a year ago, accelerating the digital transformation that was already underway. The health crisis was not the only thing fast-tracking this digital-first movement. Challenger banks and FinTechs have emerged with...
Consumers have developed an affinity for digital banking and few are unwilling to forfeit the convenience of the technology. Today, many now manage their finances on their tablets, laptops and smartphones. A survey of Chase customers revealed 89 percent said they have used the bank’s...
A new Financial Inclusion Index (FI-Index) created by India’s central bank shows that progress has been made toward bringing banking services to the country’s 1 billion-plus consumers, but more work still needs to be done. Preliminary results from the Reserve Bank of India (RBI) show...
Bangko Sentral ng Pilipinas Governor Benjamin Diokno on Thursday (Aug. 19) announced that the country’s central bank would stop accepting digital banking applications on Sept. 1 to allow regulators “to monitor” the industry. “We need to ensure that the business environment continues to allow healthy...
