Digital Banking (Mobile/Online)

The Demystification of Mobile Payments, Part I: Venmo

By Kristin Rulon, Editor, Contract Publications

“Hey, can you pay me on Venmo? I paid way too much in processing fees last year with Square.”

It was a simple enough request from my friend/hairstylist. Once I downloaded the app, he assured me that he would help guide me through the process of paying him. As someone in my early thirties (wedged between a Xennial and a millennial by being born in 1986), I am intrigued by the latest technological advances, but I still refer to my workout DVDs as tapes.


Digital Personal Banking Is Growing, but Business Banking Lags Behind

April 17 — According to the 2018 State of Digital Sales in Banking Report — published by Avoka, a Denver, Colo., and London-based provider of customer acquisitions in banking — nearly 50 percent of the worlds’ banks have entered the “Digital Promised Land,” with 69 percent of products in the personal banking sector now being applied for online.


Support for Mobile, Alternative Payments Types Is Rising

April 17 — Boise, Idaho-based Kount, a provider of solutions for fraud and risk management, released results from its inaugural State of Payment Processing & Fraud: 2018 report. Approximately 15 percent of the worldwide payment processor community was surveyed to “gain a clear understanding of their strategic priorities over the next year, as well as the value processors place on using qualitative and quantitative analysis within their organizations.”


Even as Tech Makes it Easier, Consumers Worry Over Finances

April 11 — Results from a new study indicate that less than half of consumers are satisfied with their financial health, and almost one in three consider money management a burden. However, there is evidence that people are open to new ideas and techniques for financial knowledge and well-being.


New Digital Banking Platform Consolidates for Cost Savings

April 11 — VSoft is rolling out Arya, an intelligent, open architecture digital services platform that can consolidate online banking, mobile banking and mobile deposit.


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