Mobile banking

Banks have a hard time figuring out millennials, those born between the early 1980s and 2000. Many millennials don't remember a world without the Internet, plenty entered adulthood during the thick of the financial crisis and the generation is broadly considered one willing to vote with its feet. Several firms have tried to demystify millennials for bankers. The following is a look at some of the data.

Sallie Krawcheck unveiled Ellevest, a digital investment platform for women and the latest of her female-oriented ventures, on Wednesday.

The Federal Deposit Insurance Corp.’s request for input on mobile financial services allows banks to promote how their mobile app helps the underserved, which is a plus when seeking merger approval.

Hefty investments in customer-facing technology such as person-to-person payments, mobile check deposit and fingerprint recognition have given big banks a decided edge in attracting and retaining younger consumers.

Add HSBC to the list of banks offering Touch ID authentication services to mobile banking customers.

TransferWise, which has been developing an anti-bank brand, now says it wants to partner with banks to expand its reach in the U.S.

Pressure is building on financial services providers to develop more merchant-centric loyalty programs to fight declining interchange revenue, and U.S. Bank is testing one approach in Lawrence, Kan.

As smartphone-carrying baby boomers retire, banks can no longer ignore seniors' unique digital banking needs.

Varo Money, a mobile-only startup that focuses on financial health, announced Monday it has raised more than $27 million. The global private equity firm Warburg Pincus led the round.

PNC recently held an API Fest where it asked its employees to pitch customer innovation ideas. With the move, PNC joins a growing number of U.S. banks embracing the possibility that open APIs offer.

Fifth Third Bancorp is turning to a veteran of the consumer goods industry to help shape its approach to innovation.

Success rates vary wildly for innovation labs, but some basic principles increase a bank’s chances of the incubation process leading to viable product expansion.

Innovation in financial services faces a hurdle in the narrow, short-term profit motives of predatory patent trolls. Here is what startups can do to ward off attacks.

Wells Fargo will soon roll out eyeprint verification for its commercial customers using its mobile banking platform.

Two startups are working to educate millennials on the importance of credit and issue them small credit lines. Credit to young adults largely dried up following the CARD Act of 2009, which changed the way banks and others could market to the group.

Technology startups diving into mortgage lending are doing a lot of things well … except servicing, warned a mortgage industry consultant who has advised them.

Hypur, a startup seeking to help banks serve businesses deemed high compliance risks (e.g. marijuana), has recruited a former Department of Justice lawyer to help build credibility. Its signature product: a payments platform to replace cash transactions.

JPMorgan Chase has added fingerprint authentication for customers on Android devices.

Community banks are grappling with a quickly changing operating environment, but they might have some practical advantages over large banks in building partnerships with fintech firms, and those relationships could give them the competitive edge they seek.

Traditional banks are not likely to match the nimbleness of a fintech startup for a whole variety of reasons. But that doesn't mean all is lost.