September 22, 2020
B2B FinTechs Get Creative With Open Banking Use Cases
No longer is open banking solely for consolidating financial information into a single platform for one end user. This week’s look at the latest in open banking initiatives shows creativity...
September 22, 2020
Fidor: How Cloud-Based Banking Helps With Compliance
Consumers moved to digital banking in droves during the early months of the COVID-19 pandemic — it appears they are not moving back. A significant portion of consumers in various...
September 22, 2020
Report: Hanging Up The Phone On Mobile Remittance Fraud
Cross-border remittances are a lifeline for many households who depend on family members working abroad to send funds home. These international money flows reached $689 billion in 2018, and ensuring...
September 21, 2020
Purdue Federal Credit Union Selects Payrailz For Payment Services
Purdue Federal Credit Union has tapped digital payment experience provider Payrailz for payments services. The West Lafayette, Indiana-based credit union (CU) is also becoming a part of CU Railz, the...
September 21, 2020
Bitcoin Daily: US National Banks To Hold Reserve Currencies For...
The Office of the Comptroller of the Currency (OCC) released a letter that explained the authority of federal savings associations and national banks to keep “reserves” for clients who are...
September 21, 2020
Today In Payments: FinCEN Files Reveal Billions In Suspicious Money...
In today’s top news FinCEN discovered an underworld of corruption in the world’s banks and how governments allow it to thrive, and challenger bank Chime is now worth more than...
September 21, 2020
Today In Digital-First Banking: Next Insurance Aims To Raise $250M...
In today’s top news in digital-first banking, Next Insurance is aiming to raise new capital that would value the FinTech startup at $2.25 billion, and FLEETCOR has come to an...
September 21, 2020
FinCEN Files Show Banks’ Use Of AI And Machine Learning...
Gross negligence – or evidence of a battle waged by banks that requires new, high-tech weaponry? To that end, and as reported by BuzzFeed, documents submitted by banks to the...
September 21, 2020
Tink Seeks Open-Banking Growth With Acquisition Of OpenWrks’ Aggregation Platform
Swedish open-banking platform Tink and U.K.-based OpenWrks have entered into a strategic partnership that includes Tink acquiring OpenWrks’ aggregation platform for an undisclosed sum. Tink enables FinTechs to access customers’...
With nearly half of CU executives saying a lack of resources prevent them from bringing innovations to market, CUs are stuck piloting the digital innovations their members crave — and are willing to switch FIs for. The rise of strategic mergers is a way that some CUs are exploring to pool resources, innovate and drive scale. Read more in the “Credit Union Tracker®,” a collaboration with PSCU.
To drive growth and reduce churn, credit unions should invest in digital solutions that improve user experience, offer robust security features, and provide convenient self-service options tailored to the preferences of Gen Z and millennial consumers. PYMNTS Intelligence’s latest 40-page report,“How CUs Can Drive Engagement with Self-Service Banking Innovation,” a collaboration with Velera (formerly PSCU/Co-op Solutions), examines why CUs need to up their self-service banking innovation.