Fintech

U.S. consumer credit-card debt just passed an ominous milestone, beating a record set just before the global financial system almost collapsed in 2008.

Even as mobile payments at the point of sale have been slow or even faltering, as most research indicates, use of mobile for making large money transfers is climbing.

U.S. consumer credit card debt just passed an ominous milestone, beating a record set just before the global financial system almost collapsed in 2008.

At a time when many banks struggle to win over millennials, Ally Bank appears to be bringing them in: more than 60% of new customers are millennials. President Diane Morais explains how the bank is getting the attention of a younger generation. One popular product: debit controls.

Unless security systems are implemented thoughtfully and provide a comprehensive view of an organization’s end-to-end security position they’re little more than a distraction, writes Luis Rojas, vice president of product management for cyber fraud and risk management at Bottomline Technologies.

Many banks are adopting an “it takes money to make money” approach, paying more interest on deposits in exchange for loan growth, fee income and customer retention.

MoneyGram’s total revenue declined slightly during the second quarter to $410 million, resulting in flat growth compared to the previous quarter based on constant currency.

Bank Asia in Bangladesh has partnered with Western Union, enabling consumers to send and receive funds via a network of 1,250 bank agents throughout Bangladesh.

With clients seeking a faster way to reimburse employees for expenses, Shoeboxed turned to payments technology provider Dwolla to help create Fetch.

If everyone has a universal digital identity, the documents that identify us in the physical world will no longer be necessary, writes Michael Gorriz, group chief information officer for Standard Chartered Bank.