From The KISSmetrics Marketing Blog by Neil Patel @neilpatel  

Banks are not glamourous — FinTech is.

It’s fancy to get excited over FinTech these days. But why exactly should we?

Some background information for novice readers: FinTech means financial technology. It encompasses a new wave of companies changing the way people pay and send money, but also borrow, lend, invest. The most disrupted sectors — or at least the ones that we hear the most about — are payments and money transfer, represented by companies you’ve certainly heard of (TransferWise for money transfer, Square for mobile payments…), crowdfunding (Kickstarter, Crowdcube, Smart Angels…), and peer-to-peer lending (LendingClub, Zopa, Prêt d’Union…). So where’s all that happening? Well, London is clearly the leading hub, followed by New York, and other cities fighting to get to the top: Paris, Hong Kong, Singapore, Tel Aviv… Just to give you an idea, FinTech investments reached $2.97 billion in 2013 and is expected to climb up to $8 billion in 2018, so there’s room for new players!

Survey Says Mobile Payment Interest Increasing By Brianna Ahearn, contributing writer for retailsolutionsonline.com

The Internet of Things promises to be a job bonanza for developers, and coders can expect plenty of work at very good pay, according to Michael Rasalan, a director at California-based developer research company Evans Data Corp.

by Alix Murphy (@AlixinLondon)

It’s time to cut the cord on ATMs and move them to the cloud.

Google Wallet just made its digital wallet a little more secure.

Original post on PYMNTS.Com

The problem with the mobile revolution is that it has been “coming” for so long without ever actually fully arriving that the idea of eminent ignition has become somewhat easy to discount. Mobile has been technologically accessible to a mass number of Americans for almost a decade, merchants are starting to come around (or be swept along as EMV upgrades often come part and parcel with NFC capabilities) and big name players like Google, Apple, PayPal and Samsung are staking out their space and going after the emerging mobile market.

Bank of America might be lagging some of its competitors in mobile banking user growth, but the bank is increasing its remote deposit business at an enviable rate. 

The bank said yesterday that 13% of its deposits last quarter — or roughly $4.5 billion of a total $34.2 billion of new deposits last quarter, by our calculation — came through RDC. That percentage is 30% higher than in the same quarter a year ago. By comparison, BAC increased its mobile users about 18% during that period.

The increase in RDC volume was enough for Brian Moynihan, Bank of America’s CEO, to point to it yesterday during the BAC earnings call as one reason why the bank’s “expenses were managed tightly” during the quarter. Non-interest expense at Bank of America declined from the fourth quarter of 2014 as a result of the bank reducing the number of its financial centers and “the associated cost driven by consumer behavior patterns shifting to more digital,” he said. The shift in question is the one to RDC for deposit making.

UP3 fitness wristband tracker may be ready to ship.

Ingenico and Intel have partnered to build mobile payment capabilities into a wide array of connected devices for the Internet of Things (IoT) — including intelligent vending machines, kiosks and digital signage, the companies announced at the Transact conference last week.

24me, an elegant “personal organizer” app built in Israel, has quietly figured out how to facilitate payments via Apple Watch.

Back in 2011, the U.S. Department of Treasury mandated the implementation of electronic invoicing in support of President Barack Obama’s campaign to cut waste. In the case of the federal government, this executive order reduced the cost of invoicing by as much as 50 percent, or roughly $450 million per year.

From Bank Innovation

Originally Posted on Forbes: