Latest News & Trends

New CEO’s challenge: Bring bank into 21st century

At Carter Bank & Trust in Martinsville, Va., 2018 is likely to go down as the year the $4.2 billion-asset company stopped competing with one hand tied behind its back. Carter Bank is in the midst of a comprehensive overhaul of its operating system that, when completed in the third quarter, would allow it to…
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December 29, 2017 0

12.29.17 Your morning briefing

The information you need to start your day, from PaymentsSource and around the Web: Apple Pay at the movies: As apps like MoviePass seek to reinvent the way people pay for theater tickets, Apple is attempting its own spin. To become the payment mechanism of choice for movie buffs, Apple is offering a $5 credit…
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December 29, 2017 0

Where fintech dollars will go in 2018

2018 looks to be a good year for U.S. fintech companies, as banks plan to step up their investments. A study released in December found that 82% of U.S. commercial banks plan to increase fintech investment over the next three years; 86% of bank senior managers surveyed said they intend to boost fintech funding imminently.…
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December 26, 2017 0

12.22.17 Your morning briefing

The information you need to start your day, from PaymentsSource and around the Web: A postponement for prepaid: The Consumer Financial Protection Bureau said Thursday that it will delay implementation of its prepaid rule and will consider new changes to the regulation before it goes into effect. Moments after the CFPB had said it would…
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December 24, 2017 0

Bitcoin’s just the start. Blockchain has a huge future.

Since its inception in 2009, bitcoin has revolutionized the payments space. It runs on blockchain technology, a system for digital interactions that doesn’t require an intermediary to regulate the transaction. The configuration of blockchain technology provides both authentication and authorization, which are vital to digital transactions. We see applications for blockchain technology in several important…
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December 21, 2017 0

Doing customers wrong allows your competitor to make things right

A few years ago, I attended a session at a community banking conference on how to build a successful balance-transfer credit card program. The speaker summarized the unofficial motto of his bank’s program as: “We want customers to pay off all their balances … except ours.” Everyone in the room laughed. It was a small…
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December 20, 2017 0

Chase urges card users to pay with its mobile wallet—or someone else’s

JPMorgan Chase & Co. will soon kick off a cash-back incentive for credit card customers who pay with a mobile wallet, and it doesn’t matter if the transaction is handled by its proprietary Chase Pay platform or Apple Pay, Android Pay or Samsung Pay. Chase for the first time has added mobile wallets as one…
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December 19, 2017 0

The top tech priorities for banks in 2018

In the blink of an eye, consumers have evolved from being wary of mobile banking to casually quizzing robots in their home about their spending habits. Innovation in banking will continue at its rapid pace in 2018 as more of every bank’s budget is earmarked toward technological development, said Mitch Siegel, financial services strategy leader…
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December 19, 2017 0

12.19.17 Your morning briefing

The information you need to start your day, from PaymentsSource and around the Web: The Korean conflict enters virtual currency: For the second time in a handful of days, a cryptocurrency hack or theft has been traced to sources in North Korea, leading analysts to suggest the country may be behind hacks designed to offset…
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December 19, 2017 0