Lerato Motloung is a mother of two who works in a supermarket in Johannesburg, South Africa. After her phone was stolen, Motloung had to go without a mobile phone for nine months because she could not afford a new one. Then, in February 2024, she saw a sign about PayJoy, a startup that offers lending…

Springfield, Ill.-based bank INB relies on third-party vendors to build most of its technology, then customizes it to meet the needs of INB its clients.  “For our size, we need a good partner,” Chief Operating Officer Mark Donovan told Bank Automation News. “Development talent is a scarce resource … developing a solution that can integrate…

JPMorgan Chase is investing in innovation and technology within its wholesale payments operations amid rising demand for global payments capabilities.  The $3.7 trillion bank is leaning into payment systems, Chief Financial Officer Jeremy Barnum said today during the bank’s first-quarter earnings call. “Our willingness to invest is one of the things separating us in this…

Talking of sharing data, Salt Edge just sent me some interesting stats about Open Banking and Open Finance (there is a difference). They start by quoting that inconsistently reliable source Statista, who claim that the number of open banking users worldwide was expected to grow by an average of 50% per year between 2020 and……

This week’s main blog discussions include … Selling customer data – good or bad idea? Be careful with data Many years ago a few banks debated the idea of selling customer data to get a payback. It was the wrong decision – if you sell customer data, it should the customer who gets the payback,……

Wells Fargo pulled back on its branch footprint as digital and mobile banking adoption climbed in the first quarter.  “Our branches are becoming more advice-focused … [and] we are modernizing and optimizing our branch network,” Chief Executive Charlie Scharf said today during the bank’s Q1 earnings call. “We continue to invest in talent, technology and…

Citigroup is focused on simplifying its infrastructure and overall technology through automation and cloud migration as it upped tech spend 6% year over year to $2.2 billion in the first quarter.  “We’ve made steady progress as we have retired multiple legacy platforms, streamlined end-to-end processes and strengthened our risk and control environment,” Chief Executive Jane…

Continuing my debate about data usage and data abuse, I listened to a fascinating discussion from the BBC about whether Mark Zuckerberg is a good or bad billionaire. You can listen to the podcast if interested, but a few items came up such as the release of customer data to Cambridge Analytica a few years……

Continuing my debate about data usage and data abuse, I listened to a fascinating discussion from the BBC about whether Mark Zuckerberg is a good or bad billionaire. You can listen to the podcast if interested, but a few items came up such as the release of customer data to Cambridge Analytica a few years……

Continuing my debate about data usage and data abuse, I listened to a fascinating discussion from the BBC about whether Mark Zuckerberg is a good or bad billionaire. You can listen to the podcast if interested, but a few items came up such as the release of customer data to Cambridge Analytica a few years……