July 02, 2020
New Fed Report Recommends ‘Comprehensive Approach’ To Fighting Synthetic Identity...
As a one-size-fits-all solution does not exist for the increasing problem of synthetic identity fraud, The Federal Reserve reports that experts suggest a “comprehensive approach” for the challenge. A strategy...
July 01, 2020
Bitcoin Daily: CommerzVentures, Coinbase Ventures Part Of Curv’s $23M Fundraise;...
Crypto security asset infrastructure company Curv notched $23 million in Series A funding with investment from Coinbase Ventures and CommerzVentures, among other firms, according to an announcement. The company also...
July 01, 2020
SoftBank Wants Out Of Wirecard Partnership After Last Year’s $1B...
SoftBank is looking to put distance between itself and Wirecard due to the German payments company’s ongoing scandal involving missing money and cooked books, The Wall Street Journal (WSJ) reported....
July 01, 2020
IFC, Citi Launch $800M Fund To Support Trade Finance In...
The International Finance Corp. (IFC) and Citigroup Inc. have established an $800 million fund to boost trade finance in emerging markets. IFC, the Washington, D.C.-based global financial institution that offers investment services...
July 01, 2020
Survey: Quarter Of Americans Open To Banking With Big-Tech Firms...
Despite the surge in mobile payments and online banking, no one is predicting the disappearance of traditional banks and their brick-and-mortar branches. But one thing is clear: Americans would be...
July 01, 2020
Today In Payments: Senate Approves Five-Week Extension For PPP; Document:...
In today’s top news, the Senate extended the PPP application deadline by five weeks, and an internal document reveals a small client base brought in over 50 percent of Wirecard’s...
July 01, 2020
Cloud Banking Gives Legacy Systems A Lift
Is it surprising to know that 55 percent of legacy financial institutions (FIs) report lacking maturity in core systems? Or that, on average, 15 percent of an FI’s annual operating...
July 01, 2020
Getting Onboard With Digital-First Banking
In the post-pandemic terrain, digital onboarding is both hero and villain. That’s because COVID-19’s social distancing rules, plus digital everything, has led to the realization that most business can be...
July 01, 2020
FIs Embrace FinTech Collabs With An Eye On Functionality
In a PYMNTS interview, NICE Actimize Head of Fraud Strategy Rob Tharle shed light on a nasty downside to the proliferation of open banking around the globe. “Open banking promises...
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.