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Essential Fintech Reading: April 4 - 10

BBVA Compass goes live with real-time payments
As reported on the Dwolla blog, BBVA Compass is ready for real-time payments. Waiting three days for funds to clear will soon be part of the past.

"What makes Dwolla’s technology so dramatically different is that when you hit the send button the money actually moves instantly and there’s no card or check used in the process at all. It’s completely digital. FiSync enabled transactions made to and from your financial institution can be done in real-time on any device connected to the Internet."


Traditionalists vs. Trailblazers in Innovation
JP Nicols introduces the concepts of Traditionalists and Trailblazers and how they relate to banks and credit unions in the digital age.

"Traditionalist organizations have very powerful antibodies that seek to kill any invading viruses that threaten to disrupt their homeostasis. Trailblazers need to be around like-minded innovators, and they need some amount of insulation to create and iterate in ways protected from those who would seek to overly neuter and homogenize their unique ideas."

Also see our interview with Nicols, published this week, which covers many of the same topics.


Yes, Millennial Bank Customers Justify the Hype
Mark Ranta, senior solutions consultant at ACI Worldwide, defends the idea that banks should continue to target millennials.

"Without millennials, financial institutions will find themselves in a precarious position in coming years, particularly as tech giants like Google, Apple and Samsung seek to elbow in on the financial services industry."


Banks Can Cherry-Pick the Best Bits from Bitcoin: Report
American Banker's Sarah Todd demonstrates how bankers can use certain aspects of Bitcoin to their advantage.

"Banks are unlikely to embrace Bitcoin and other cryptocurrencies. Distributed ledger technology, on the other hand, has plenty of commercial potential since it can help banks move financial assets faster and at lower cost without requiring them to take on the risks that accompany "permissionless" ledgers."

Also see our interview about why banks are investing in Bitcoin.


Source: http://bit.ly/1FuROt7