The problem of inequity for minority communities in America has many faces, with access to financial services still lagging concerningly behind. Black and Latinx households make up more than 60% of the nation’s unbanked, and nearly half of underbanked households, according to FDIC surveys. Efforts to foster greater inclusivity provided a focal point to the recent Washington … [Read more...] about Could FinTechs Bridge the Inclusion Gap?
I was on a call today preparing for the technology innovation panel for the Midwest Acquirers Association conference. As our conversation unfolded, we kept coming back to the need for traditional payments and financial organizations to innovate, to do something different, to work out strategies that will radically change the way they operate in the next three to five years. Or … [Read more...] about FinTech Innovators Take the Lead Across Financial Services
The digital transformation is here in banking services. The pandemic crystallized just how far the technology has come, and for many users, there’s no going back. But making these services as approachable – or even better – than the traditional face-to-face experience is a key issue facing many financial institutions. These types of technologies will only become more and … [Read more...] about Building a More Human Digital Experience for Banking
International trade and commerce are a major piece of the payments industry, with volume only increasing year over year as digital options further connect the globe – and yet, many of the systems that businesses and retail consumers alike rely on to make these payments remain too slow, too complex, and expensive. There’s a growing need to fundamentally rethink the payments … [Read more...] about Innovation and Regulation: Building Better International Payments
It doesn’t take special insight to note that 2020 was a tumultuous year for banks—along with the rest of the world—with the dramatic shift to digital and a heavy blow to projections across the board forcing financial institutions to reassess every aspect of how they do business. Now, looking forward to 2021, the banks are beginning to see challenges the new year will … [Read more...] about Banks Cautiously Optimistic for 2021
Corporate Cash Holdings Soar, Says New Carfang Group Study Corporations in the U.S. added $1.1 trillion or 38.5% to their cash holdings in the first half of 2020 according to recent data Federal Reserve data analyzed by The Carfang Group. For the second quarter, cash is up $424B or 12% and now stands at $3.9T. According to Anthony J. Carfang, Managing Director at The … [Read more...] about Chicago FinTech News – Corporate Cash Surges