For over twenty years, I’ve predicted the end of the ATM, cash and cards. Finally, many of those predictions appear to be coming true. It is certainly true of cash versus card … … and now it is turning out to be true for card versus wallet … Admittedly, the second picture is from a……

Investing platform Robinhood added more than $3.4 billion through its automated customer account transfer service in the first quarter, up 100% quarter over quarter.  The company is seeing high deposit volume “supported by a young customer base gaining share of global wealth,” and expects to meet its multi year 20% deposit growth rate target, Chief…

Jack Henry invested in automation technology, grew its client base and explored AI during its fiscal third quarter, which ended March 31.  The tech provider is working on a cloud-native online deposit and loan account opening solution, Chief Operating Officer and incoming Chief Executive Gregory Adelson said during Jack Henry’s May 8 earnings call.  …

Financial institutions that think about efficiency and growth when considering tech spend can respond quickly to merger and acquisition opportunities, Danny Baker, vice president of market strategy at technology provider Fiserv, told Bank Automation News.  “Successful banks, when they think about their technology investment, they don’t think about efficiency from a penny-pinching [perspective],” he said.…

Monzo has raised another £150 million ($190 million), as the challenger bank looks to expand its presence internationally — particularly in the U.S. The new round comes just two months after Monzo raised £340 million ($425 million), meaning the London-based company has now raised north of $610 million in 2024, and $1.5 billion since its inception nine…

“AI, powered by quantum computing, is going to put financial crime potentially on steroids.” It’s not my quote. It’s actually a comment made by David Duffy, CEO of Virgin Money (now Nationwide) after visiting Microsoft’s headquarters in Seattle. From my side, this is an area that’s been worrying me for a while, ever since the……

Things we’re reading today include … Ramses introduces Chris Skinner as its co-founder (zawya.com) Billionaire Barry Sternlicht expects one bank failure per week due to real estate’s ‘fragile’ loans | Fortune S&P Global Market Intelligence Global Bank Ranking: Chinese Banks Maintain Dominance in 2023 Despite Economic Headwinds (prnewswire.com) Crypto Exchange Bitpanda Extends Partnership With Austrian……

Online lender Upstart automated 90% of its unsecured loans in the first quarter of 2024 as automation remained at the forefront of efforts to streamline its loan application process.  Upstart originated $1.1 billion in personal loans, up 17% year over year, while home equity line of credit (HELOC) loan originations clocked in at $7 million…

Wealth-tech giant Envestnet is ramping up its investment in data and analytics to increase subscription-based revenue and create new products.  The data and analytics business at Envestnet, which generates subscription-based revenues across open banking and alternative data offerings, generated revenue of $35 million in the first quarter, down 8% year over year, partly driven by…

Global Payments has received EU regulatory approval and is launching a joint venture with CommerzBank — Commerz Global Pay — this month.  CommerzBank, based in Frankfurt, Germany, will use Global Payments’ point-of-sale and digital payment solutions for its commercial clients across the EU , Cameron Bready, chief executive of Global Payments, said during Global Payments’…