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Essential Fintech Reading: May 28-June 3

By Jeff Meredith on Jun 3, 2016 2:46:43 PM

Mobile Cross-Selling And Contextual Money Management Capabilities Underdeveloped At Largest Banks

Forrester’s US Mobile Banking Functionality Benchmark, evaluating offerings from the five largest retail banks, reveals that mobile cross selling is underutilized. “Too few banks use the context of a customer’s current product portfolio, recent life events, physical locations, past behavior or other factors to offer personalized marketing in their mobile apps,” writes Forrester. The report also reveals that contextual money management tools are largely lacking at the five largest retail banks. Wells Fargo is a notable exception, with the bank providing money management graphics within its mobile app. In analyzing Forrester’s research, Jim Marous also notes that “one of the biggest opportunities (and shortfalls) at the vast majority of financial institutions is not having the ability to open a new account entirely on a mobile device. A notable leader with mobile account opening noted by Forrester is Bank of America, where a customer can apply for multiple accounts directly from their mobile app.”

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Essential Fintech Reading: May 21-27

By Jon Ogden on May 27, 2016 5:20:05 PM

This week we hear from Fortune, American Banker, Recode, and more.

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Essential Fintech Reading: May 14-20

By Jeff Meredith on May 20, 2016 6:17:38 PM

HSBC Trims Branch Network In India

HSBC is halving its branch count in India to 26, focusing its attention on digital banking. “This change reflects changes in customer behaviour, who are increasingly using digital channels for their banking,” HSBC said in a statement. Rethish Varma, head of research at Aditya Trading Solutions, told Bloomberg that “this move suits HSBC as their target retail customers are mostly in urban centers and are affluent with access to digital-banking channels.” Among HSBC’s competitors in India, Singapore’s DBS Group Holdings Ltd. has also pursued a digital strategy.
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Essential Fintech Reading: May 7-13

By Jeff Meredith on May 13, 2016 4:31:22 PM

LendingClub CEO Ousted, Loan Buyers Flee

LendingClub CEO Renaud Laplanche was fired after the peer-to-peer lending firm acknowledged it had sold $22 million worth of loans that did not meet a buyer's criteria. While LendingClub quickly bought the loans back from the buyer, investment bank Jefferies, the news triggered a chain reaction.

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Essential Fintech Reading: May 1-6

By Jon Ogden on May 6, 2016 12:58:05 PM

From 60 Minutes coverage to a weird story about the founder of Bitcoin, this week opened with some big fintech news.

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Essential Fintech Reading: Apr 16-22

By Jon Ogden on Apr 22, 2016 3:55:00 PM

Fintechs' Goals Are Changing, VCs' Appetite Is Not

American Banker's Penny Crosman covers the news about the continued fintech boom. Given the dramatic rise of venture capital money in 2015, many analysts wondered what would happen in 2016. Now we know. The first quarter of 2016 brought a 67% investment increase over the same period in 2015, indicating that fintech is still hot.

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Essential Fintech Reading: March 12-18

By Jeff Meredith on Mar 18, 2016 4:28:52 PM

Mixed Signals From Millennials

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Essential Fintech Reading: Feb 6-12

By Jeff Meredith on Feb 12, 2016 2:59:00 PM

Big Bank Lead In Customer Satisfaction Driven By Digital Investments

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Essential fintech reading: Feb 12 - 19

By Jon Ogden on Feb 12, 2016 2:50:00 PM

When it comes to mobile banking ratings, lower could be better

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Essential Fintech Reading: Jan 30-Feb 5

By Jeff Meredith on Feb 5, 2016 3:00:00 PM

Personal Financial Management Primed For Takeoff In The EU?

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