Digital-only MemoryBank launches in US

US-based MemoryBank, a national branchless banking platform, has opened its “digital doors”. Founded this month, it is digital only and targets “generation-X customers” – born between 1965 and 1982 – described as “an often-ignored group, pushed aside by millennials”. The bank is a subsidiary of Kentucky-based Republic Bank & Trust Company. For its tech, Republic […]

Payments start-up nanopay gets $10m funding boost

Toronto-based payments start-up nanopay has completed its $10 million Series A funding round. With this financing and the MintChip platform, which nanopay recently acquired from The Royal Canadian Mint, it is developing new business partnerships to “expand the global utility and acceptance” of MintChip. Laurence Cooke, CEO and founder of nanopay, says its focus is […]

BBVA favours Amazon Web Services for cloud drive

BBVA has reached a global agreement with Amazon Web Services (AWS) as it looks to cloud computing to boost its digital banking services. The agreement, which is part of a series of accords that the group is making with providers, turns AWS into its “preferred” cloud infrastructure services provider. AWS will execute the migration of […]

Bank of America to launch AI chatbot

Bank of America has unveiled its new artificial intelligence (AI) chatbot to help customers make decisions on their finances. Called Erica, a nod to the name America, it will be available inside the bank’s mobile app in 2017. Customers can do the usual AI stuff – chat via text or voice – and it’s all […]

Case study: Consorsbank – the pursuit of app-iness

New retail banking apps are released onto the market daily – from traditional banks entering the app era to new disruptive payments services. What does each one of these apps have in common? The need to perform. When Consorsbank, part of BNP Paribas Germany, launched its retail app, it knew performance mattered. The bank shares how it delivered an app that consumers wanted.

Chinese tourism powers Verifone and Alipay payment partnership

Verifone is partnering with Alipay to enable retailers in North America and Europe to accept payments from Chinese tourists. According to Verifone, nearly 100 million Chinese consumers annually travel abroad and use Alipay to make purchases. This latest partnership follows quickly on Alipay’s deals with Zapper and Ingenico – both for the same reason as […]

Ecobank launches unified mobile app in Africa

Pan-African banking group Ecobank has launched its Ecobank Mobile App across the continent – the “first unified app delivered by any institution for use in 33 countries”. Ecobank says the app will give it the “scale and capacity” to achieve its target of attaining 100 million customers. Ecobank Group CEO Ade Ayeyemi says the app […]

Envestnet Yodlee extends tie-up with Backbase, unveils updates

Envestnet Yodlee has extended its partnership with omnichannel banking specialist Backbase. The two companies have been collaborating for some time. With the new agreement, Backbase will be providing its customers with integrations to the Envestnet Yodlee data aggregation platform.

Is your mobile banking app causing more harm than good?

Without the right digital strategy, small and midsize banks risk ceding built-in advantages to larger competitors. Below is a step-by-step guide on how to successfully move into the digital realm and retain customer engagement (and sales). Mobile banking has become an imperative for retail bankers looking to keep pace with the industry and satisfy customers’ needs. It […]

Payments round-up: 21 October 2016

Jargon defeated. Unnecessary words deleted. A brief payments round-up. LeFinance, a division of Beijing-based tech firm LeEco, has partnered with the Stellar Development Foundation for cross-border payments on the latter’s blockchain network. The deal means Stellar expands into China. LeFinance will also use Stellar’s network to monitor credits for usage across their various devices and […]

Android Pay lands in Hong Kong

Google has launched its Android Pay service in Hong Kong with support for MasterCard and Visa cards. It works with cards from BEA, DBS, Dah Sing Bank, Hang Seng Bank, HSBC and Standard Chartered Bank in Hong Kong. Users can add multiple cards and Google says there’s no limit to how many can be added. […]

Top fintech stories this week – 21 October 2016

Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Bank of Ireland in major tech revamp EXCLUSIVE. Accenture and Capgemini working on Project Omega. Trouble in the R3 paradise? Thinking about time and money. Millions at risk from India ATM hack Debit cards in danger due to […]

Société Générale unveils new innovation hub

Société Générale has launched its new innovation hub – The Dunes – a 126,000 square-metre building complex in Val-de-Fontenay, a suburb of Paris. The firm says 5,000 of its employees “working in technology” will be based there and the hub is “at the heart” of its “digital transformation”. But it’s doubtful the building will transform […]

Commerzbank in major job cutting spree

Commerzbank has firmed up plans to lay off nearly 5,000 people. Around 3,000 job cuts will be across the bank’s branch network at home in Germany. Another 1,900+ jobs will be eliminated outside Germany and across Commerzbank’s subsidiaries.