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The U.S. payments industry is currently implementing faster payments that will enable consumers and businesses to send and receive payments almost instantly at any time of day, any day of the year. Mobile banking in particular may allow consumers to realize the full benefits of faster payments. As a result, a consumer's use of mobile banking is a good indicator of their readiness to benefit from faster payments. Fumiko Hayashi and Ying Lei Toh examine which consumer characteristics are associated with mobile banking use as well as what other factors may influence consumer readiness. They find that banked households that are younger, higher income, college-educated, employed, or that occasionally use alternative financial services are significantly more likely to have used mobile banking for transactions. Their results suggest three additional factors may influence consumer readiness to fully benefit from faster payments: the availability and cost of digital infrastructure, the availability of mobile banking and its transaction functions, and consumers' perceptions of and savviness with mobile banking and related technologies., The U.S. payments industry is currently implementing faster payments that will enable consumers and businesses to send and receive payments almost instantly at any time of day, any day of [...]

IT'S A RARE, GOLDEN OPPORTUNITY to have the undistracted attention of your customers. And, that is exactly what you possess when your customers walk in the door. Since such a [...]

Electronic payment systems play a vital role in the economy and financial system of any modern society. The Reserve Bank plays a key role in the New Zealand payment system. In particular, it operates the Exchange Settlement System Account (ESAS) and the NZClear securities settlement system. In this article, we outline the nature of the Bank's involvement, and recent developments, in these systems., Introduction Electronic payment systems-retail and wholesale --are now a vital cornerstone of commerce. Payment systems need to provide the highest levels of security, resilience and efficiency. After briefly outlining our [...]

Byline: Hilary Burns Jay Sidhu has been forced to be patient and persistent with his long-term growth plans. Sidhu, the chairman and CEO of Customers Bancorp, is taking a second [...]

Byline: Manish Grover The rapid pace of upheaval in banking and payments today is leading to many innovative non-banking customer experience ecosystems, with banks largely serving a utility function. Through [...]

Fiserv reported that Salem Five, a $4.2 billion Massachusetts-based bank, has selected Fiserv as a new technology partner. According to a media release, the selection was made with a particular [...]

The safety issues involved in using Internet to access bank accounts by consumers is examined.

Analysts once predicted that technology would lead bank branches toward extinction. But today, technology is doing just the opposite by helping branches thrive. Through the use of technology, branches have [...]

Byline: Thomas P. Vartanian The last month has seen a variety of financial regulators articulating their views concerning fintech. Their interest signals greater regulatory certainty for innovative firms looking to [...]

Home Bank Customers Grow to About 44,000 By DAVID O. TYSON The American Banker estimates 44,000 consumers and small businesses now use microcomputers and terminals to do their banking from [...]

Byline: Penny Crosman When I was little, my stay-at-home mom always had lengthy conversations with the bank tellers she thought of as her friends, whether she went to the teller [...]

We all know that the Internet isn't just a high-tech playground anymore. Millions of people are already using secure payment technologies to make online purchases without so much as a [...]

Although the largest U.S. commercial banks have enjoyed strong earnings in recent years, they are under considerable pressure to reduce costs in their retail operations. A stagnant deposit base and [...]

Relatively few banks are heavily involved with electronic data interchange yet, but the stakes are high for ignoring it. Outsourcing may open the door for more, and so may the [...]

Byline: Penny Crosman If the identity management system is broken, it's not for lack of vendors offering solutions. Banks have been on a mission to find the right technology to [...]

Byline: Robert Barba Skip branches. Forget online banking. What if the future of banking is letting commercial customers, or at least those with the technological wherewithal, program their own experience [...]

Byline: Mary Wisniewski Radius Bank is throwing away the small-bank playbook. Rather than open branches in pursuit of new accounts, the Boston institution with two physical locations is forming alliances [...]

Byline: Mary Wisniewski Radius Bank, with only one full-service branch, identifies the digital channel as the way to grow. 'We are not believers in building the branch out,' said Robert [...]

When it comes to utility billing, monitoring and management, there are options aplenty to analyze and capitalize on data. Many utility companies offer customers access to a third-party solution that [...]

Byline: Amilda Dymi Fidor Bank AG is the first bank to integrate the real-time global settlement protocol provided by Ripple Labs. The German direct bank will adopt San Francisco-based Ripple's [...]

Byline: Kate Berry Fannie Mae and Freddie Mac want perfection. Mortgage lenders want relief. Technology could help both sides get what they want. The government-sponsored enterprises are increasingly pushing lenders [...]

I'm willing to bet that most banks get most of their earnings from tittle old Ladies with CDs. It sounds rather crass, but when they die, in the next 10-15 [...]

Byline: Maria Aspan Banks and nonbanks are heavily competing to build better products for less affluent and underserved consumers. But the hurdles to success are mounting. Five years after the [...]

Byline: Jackie Stewart Community banks are proceeding with caution as they confront some of the industry's biggest challenges: expanded use of social media and mobile banking and changing regulation. Executives [...]

Like everything else in life, international commerce is speeding up, and for many corporations and people the several days it takes for cross-border payments to make their way along traditional [...]

Byline: Mary Wisniewski First in a series Financial institutions are readying apps for Microsoft Corp.'s new radically different Windows 8 operating system for desktop, laptop and tablet devices, which officially [...]

Byline: Ray Birch RANCHO CUCAMONGA, Calif.-Mobile devices are beginning to replace the check register as consumers use mobile banking most for quick, simple account transfers and balance checks. Analysts who [...]

Though many retailers and consumers remain sceptical, the rise of NFC technology and contactless pay ments will make wallets and cash obsolete, according to some experts. The mental checklist of [...]

When the Federal Electronic Benefits Transfer Task Force announced its implementation plan for nationwide EBT by March 1996, bankers listened. Banks, irrespective of size or market, have been gearing up [...]

Byline: Penny Crosman On its sixth day of intermittent website outages that began on Friday, Bank of America Corp. acknowledged the site troubles, but would not explain them. 'Online banking [...]

Byline: PENNY CROSMAN Banks have toyed with the idea of letting corporate customers open, close and manage their bank accounts online - a service called electronic bank account management or [...]

Byline: Daniel Wolfe Data Impact said Monday that Nestle USA would use its technology for handling invoices and payments electronically. The Huntington Beach, Calif., vendor said that the Nestle SA [...]

Byline: Daniel Wolfe ModaSolutions Corp. has adapted its eBillme online payment system to work with the Magento Inc. e-commerce platform. Moda's eBillme allows consumers to make payments to online retailers [...]

Byline: Austin Kilgore As borrowers and lenders have grown more tech-savvy, the online origination channel has grown. Lenders can save time and money by establishing an online channel, which involves [...]

Byline: Louis Blatt The recently released 'World Payments Report 2010,' an annual barometer of payments worldwide, found that payments volumes kept growing in 2009 despite the financial crisis. In addition, [...]

Byline: Sean Pennock The way many banks are structured, their various payments channels exist apart from one another. This is partly because most banks are tied to archaic systems that, [...]