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Community Banks Form Fintech Alliance: Should You Join?

A dozen American community and regional banks have formed a consortium, called Alloy Labs Alliance, dedicated to exploring fintech opportunities. The Alliance, which is being managed by Fintech Forge, is designed to help smaller banks pool their resources in the quest to stay relevant in the digital age.

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Wells Fargo Joins the Digital Bank Bandwagon

Wells Fargo announced the launch of Greenhouse, a digital-only bank app, joining Chase and Citibank who have launched or announced their own digital bank offerings.

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Will Square Be the Next P2P Provider to Get Into Banking?

At Recode’s annual Code Commerce conference this week, Square Chief Financial Officer Sarah Friar indicated that the company is considering lots of [banking-related] ideas, including savings products and investment services. According to a pymnts.

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Bank Innovation and the Fast-Follower Fallacy

In June, the Insight Vault published a post titled Guess Who Holds The Most Blockchain Patents? To save you the trouble of a click, the answer is Bank of America.

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Highlights and Recommendations From the Treasury’s Report on Fintech

Tuesday, July 31, 2018 may go down in history as Fintech Day in the US. On that day, the US Treasury Department released a 222-page report titled A Financial System That Creates Economic Opportunities: Nonbank Financials, Fintech, and Innovation, and the OCC announced it would consider charter applications from fintech companies.

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Millennials Want Non-Financial Products From Banks and Credit Unions

There’s a popular misconception among a lot of people that Millennials hate banks.

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How Banks and Credit Unions Should Select Fintech Partners

It’s amazing what sheep US businesses are. Thirty years ago, in practically every organization in every industry, reengineering business processes was at the top of the list of strategic initiatives. Five years later it was knowledge management. Five years after that everyone had to become–or find a way to launch–a dot-com.

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The Mobile Banking Features Consumers Want (But Don’t Have)

According to the Federal Reserve’s 2016 consumer survey, 43 of mobile phone owners (with a bank account) were mobile banking users, practically double the percentage that the Fed found in its 2012 survey.

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Chase’s Finn Is a Threat to Banks and Credit Unions

After a nine-month test in the St. Louis market, JPMorgan Chase recently took its first step to a national launch of its digital-only bank Finn with a rollout to iOS users.

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