Posts Tagged ‘mobile app’

Consumers Speed up Card Replacement Cycle

Posted on August 11, 2017 by Laura Lam

Despite the heightened security that comes with EMV chips and tokenization, consumers remain worried about their personal data being exposed in a seemingly nonstop parade of breaches. This leads to many cardholders requesting a new card as a precaution, even if they have no evidence that they were directly affected by a particular breach. “It’s less about their cards being compromised than seeing news about a major breach at a place where they shop,” said Rob Dixon, product director at CPI Card Group.  “The customer wakes up and sees a report about a breach, and wants to have his or…

FinTech is Changing the Payments Industry

Posted on January 23, 2017 by Laura Lam

The landscape of the payments industry is changing with the introduction of new technologies. Capitalizing on emerging payment methods could give start-ups a competitive edge against larger financial players, allowing those in accounts receivable to grow their bottom line.  The following are some of the trends paying off in the payments and accounts receivable industry this year. Same-day ACH – Traditional ACH payments are conducted over a wire transfer and take anywhere between 1–2 working days to clear, a costly and unpractical solution for smaller payments. In 2016 NACHA launched the first phase of Same Day ACH allowing for faster…

Digital Banking Ushers in New Loyalty Rewards Programs

Posted on September 22, 2016 by Laura Lam

Credit card rewards programs were born in the heyday of plastic and paper. As payments go digital, banks will have to make sure their loyalty programs keep pace.  While the move may seem small in the scheme of mobile banking, the digitization of loyalty rewards programs may play a key role in the adoption of mobile payments. “The way people shop and the way they interact with loyalty programs has changed,” said Lars Holmquist, senior vice president at Collinson Group.  Financial service firms have “a clear opportunity to deliver highly engaging, digitally driven loyalty initiatives due to the wealth of…

Financial Tools You Need to Use Now

Posted on January 29, 2015 by Saldutti

Modern money management requires tracking a lot of moving parts: budgeting, bills and credit cards are just the beginning. To help you keep your spending under control, consider using one of these online or mobile tools, recommended by U.S News & World Report. From protecting your finances and saving you money, to tracking your spending and locating coupons, these tools help you simplify your financial life. BillGuard. The BillGuard app, using bank-level security, pulls all your transactions from various accounts, and flags ones that might be erroneous, including duplicate charges that have been flagged by other users. You can flag a…

Watch Your Spending … with Cash

Posted on October 07, 2014 by Saldutti

Smartwatches are known for not only telling time, but tracking your daily activities – steps taken, calories burned, hours slept. Now, a new device called the Cash smartwatch monitors another thing you might not always think about: your budget. It tells you when to cool it with the latte spending or hold off on buying new shoes for the fall. The $139 gadget comes from financialista Nicole Lapin, a former correspondent for networks such as MSNBC and Today. The Cash smartwatch doesn’t want to be the Apple Watch, and it’s not smart in the traditional category way (it doesn’t let you…

JPMorgan Chase Cyber Attack Hits 76M Households

Posted on October 06, 2014 by Saldutti

A huge cyber attack against JPMorgan Chase & Co. this summer has compromised customer information for about 76 million households and 7 million small businesses, the bank said last week.  According to JPMorgan Chase, names, addresses, phone numbers and email addresses were stolen from the company’s servers, but only customers who use the websites Chase.com and JPMorganOnline and the apps ChaseMobile and JPMorgan Mobile were affected.  The bank said there’s no evidence that the data breach included account numbers, passwords, Social Security numbers or dates of birth. It also said it has not seen any unusual customer fraud stemming from…

There's an App For That …

Posted on August 14, 2014 by Saldutti

How’s your bank balance? Could be better? You’re not alone. Only 1 in 4 Americans surveyed by Bankrate.com in June 2014 said they had an adequate emergency fund (enough savings to cover 6 months of expenses in a crisis such as job loss or a medical issue). More than 25% had no “rainy day” savings at all. The most direct way to sock away more money each month is to spend less. Cutting down on expenses starts with a prescription that allows you to get a clear picture of exactly how you’re doling out those dollars. This doesn’t mean carrying…

Mobile Check Deposits, Bill Payments Spike in August

Posted on October 03, 2013 by Saldutti

Consumers stayed glued to their smartphones and tablets in August, taking care of financial chores on their devices at a steadily increasing rate. The overall value reading of American Banker’s Mobile Banking Intensity Index for the month was high: 69.8. The MBII is a diffusion index. For context, readings above 50 in a diffusion index indicate expansion and readings below 50 point to contraction. The further from 50 a reading is, the stronger the indicated change. A reading of 50 suggests that activity was unchanged month to month. All the data in the index is compiled from a survey of…