Technology

Wells Fargo to Pilot Dollar-Linked Crypto for Internal Settlement

U.S.-based financial giant Wells Fargo is developing a U.S. dollar-linked cryptocurrency that will run on the firm’s first blockchain platform. Dubbed Wells Fargo Digital Cash, the stablecoin will be used in a pilot initially for internal settlement across the company’s business.

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Virtual Cards for Business Payments: What’s the Hold Up?

From workforce expenses to high value transactions between buyers and suppliers, the market that supports the initiating and acceptance of card-based business payments is big and growing. According to Mastercard, Visa and American Express, commercial card payments hit a five year high of US 2 trillion[1] in 2018.

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Chase Outmaneuvers Square

Chase Outmaneuvers Square, Putting Fun Into Fintech

Faster payments is a buzzword in retail banking which typically does not include credit card payments. The movement of money in retail banking usually involves transferring funds from Bank A to Bank B, in a transact…

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Big Tech Is Turning Banks Into Dinosaurs

People still need banking services. But banks? How sustainable are they in 2019? That’s another matter. A traditional piece of banking business business model is going away. Namely, they will no longer make money off of money. Doing so is no longer profitable. High interest rates are gone and they are never coming back.

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Five Trends Shaping Fintech 2020

Five Trends Shaping Fintech Into 2020

Fintech has become a fast-moving field, and the next decade should be no different. Not every startup threatens small and midsize banks, but community banks and credit unions should stay on top of fintech trends to know when it’s time to act on a new opportunity. Here are five trends I see shaping fintech into […]

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The ATM at Age 50 Puts the Spotlight on the Future Role of Cash

The ATM made its U.S. debut 50 years ago, and a half-century later the future of cash and cash-dependent industries like ATMs is the subject of intense debate in industry forums and at city halls and state capitols. Chemical Bank, now part of JPMorgan Chase & Co., installed the first U.S.

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15 Ways Digital Banking Drives Revenue Growth

Increased use of smartphones and superior digital apps are driving the increase of digital banking. Digital banking is traditional banking activities and programs that customers were only able to do inside a bank are done online.

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Why Fintech Will Supplement but Not Disrupt Banks

Over the past two decades, technology has altered many industries — music, retail and transport to name but a few. Yet during this period of technological disruption, financial services have continued to grow. Banking has always been about technology.

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The Future of Facebook’s Cryptocurrency and Negative Interest Rates

With tons of regulatory uncertainty and reports that some key partners are having second thoughts, will Facebook (NASDAQ: FB) still move forward with its Libra cryptocurrency? And negative interest rates are more prevalent than you might think around the world, but what would happen if they came to the U.S.

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These Are the 8 Digital Trends Set to Disrupt Fintech in 2019

This article will take you 4 minute(s) to read At present, Fintech is the buzzword within the banking industry. Ever since the global economic crisis, the financial services industry has seen massive disruption, including new regulatory frameworks, greater transparency, and data protection, and much more.

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Some of Facebook’s Libra Backers Are Discussing How to Distance Themselves From the Project

In brief: Facebook’s Libra hasn’t even launched and some backers are discussing whether it would be in their best interest to jump ship before they attract unnecessary attention from regulators, who are probing every aspect of the social giant’s business.

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Contactless Payments Keep Cities in Touch With Future Mobility Demands

Companies known for providing credit and debit cards may not be the most obvious stakeholders in the future of mobility, but the rollout of new mobility services could see the physical ticket resigned to the history books. In its place will be the digital wallet, which many commuters already use through contactless card and smartphone […]

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