June 23 – Beth Knickerbocker, acting chief innovation officer for the Office of the Comptroller of the Currency, has been added to the impressive speaker lineup for the Innovation & Transformation Forum, being held July 13 in Kansas City. Her presentation will cover the agency’s focus on Responsible Innovation that ensures that the use of new or improved financial products, services and processes meet the needs of consumers, businesses and communities in a manner that is consistent with sound risk management and is aligned with the bank’s overall business strategy.
June 19 – The Financial Solutions Lab (FinLab) at the Center for Financial Services Innovation (CFSI) with founding Lab partner JPMorgan Chase & Co. have announced eight financial services innovators as the winners of its third competition, aimed at identifying solutions that can help Americans improve their financial health. Each winner will receive $250,000 in capital and additional resources to test, enhance and scale their products, many of which are designed to address the needs of often overlooked populations, such as people of color, low-income women, aging Americans, and individuals with disabilities.
June 5 – A handful of rapidly evolving technology sectors will create enormous economic opportunities for the U.S., says Francis Dinha, CEO of OpenVPN, creator of Private Tunnel.
May 26 – Newgen Software Inc., a global provider of banking software solutions, has announced the successful integration of its Business Process Management (BPM) based Commercial Lending automation solution with Real Estate Information Management System (RIMS) from ExactBid. Users will be able to leverage the capabilities of RIMS for Appraisal Management, seamlessly eliminate multiple touch points, reduce wastage of resources, and control data quality.
May 26 – Nominations are now open for the 14th annual IDC FinTech Rankings and third annual IDC FinTech Rankings Real Results 2017. For more than a dozen years, IDC Financial Insights has evaluated the revenues of the leading global technology and service providers within the financial services industry and constructed the IDC FinTech Rankings. The most comprehensive vendor ranking within the financial services industry is based on calendar year-end revenues and the percentage of revenues attributed to financial services. Deadline for submission is Friday, June 30, 2017. Final rankings will be announced at an invitation-only event on September 11, 2017, on the first night of Finovate Fall New York. Follow us on Twitter @IDC for continued updates on the Rankings.
May 17 – Wells Fargo has selected two new companies – ProxToMe and Uniken – to join the Wells Fargo Startup Accelerator. Each participant in the non-exclusive, six-month program is eligible to receive up to $500,000, mentoring, and guidance in refining their potential breakthrough technologies for the financial services industry. Wells Fargo business and technology leaders will work closely with the companies to test concepts for corporate and retail customers while helping them accelerate time to market for their services.
May 12 – -FIS, a global leader in financial services technology, and The Venture Center have announced the 10 startup companies selected to participate in the 2017 VC FinTech Accelerator, now in its second year.
May 11 – A new fintech called Dave, which includes billionaire Mark Cuban among its investors, is targeting what it calls “ridiculous overdraft penalties” by making loans of up to $250 with no interest until the borrower’s next payday.
May 2 – Fintech America and BankNews Media have joined together to present the Fintech America Innovation & Transformation Forum, a one-day seminar and networking event for community bankers to better understand the latest fintech trends, technologies, and regulatory issues, and to develop strategies, learn best practices, and implement plans to prepare their institutions to succeed in the new era of digital banking.
IBM has identified five essential qualities for banks seeking to thrive in today’s increasingly digital and cloud-first environment. Like many other industries, the established players in banking are constantly facing changes and new competition. These challenges stem primarily from on-the-cloud start-ups and agile FinTechs, a group of businesses that Moody’s Investor Service estimates as high as 4,000-strong worldwide and on the receiving end of $19 billion in venture capital funding.