As of September 30, 2013, The United States’ five largest banks and thrifts owned 44 percent of the bank and thrift industry’s total assents? This is according to an analysis by SNL Financial. The six biggest U.S. banks, led by JPMorgan Chase and Bank of America, have piled up $103 billion in legal costs since […]
The large U.S. population of unbanked and underbanked consumers is fertile ground for kiosks offering financial services such as bill payments, money transfer, and cash transactions. These kiosks provide a low-cost alternative to banks (and others) for cash-preferred consumers. The FDIC estimates that approximately one-third of the U.S. populations falls into this category. “The underbanked […]
With new players and innovative concepts, it seems like there is no shortage of fresh things happening in banking these days. Ever hear of the banks Moven or Simple, or GoBank? How about Bluebird (American Express) or Mobile Money (T-Mobile)? These are all Neo-Banks.
The Linkedin Showcase Page “Financial & Payments trends” by Pertech Industries is online! Become a follower of this page today to receive exciting news and updates about the world of finance and payment systems. Stay in touch!
What if you woke up one morning to discover that you could view written data in a new dimension? Now you can! Do you remember the astounding experience Edwin Abbott’s little square citizen of Flatland, has when he see a sphere pass through his “plane” world? You too can see something similar thanks to an […]
Since the fall of 2009, European banking has been dominated by the massive financial crisis in the Euro-Zone. This crisis was the result of huge government debt, bank under-capitalization, and a lack of competitiveness in Europe. The crisis not only introduced adverse economic effects for the worst hit areas, but also had a major political […]
If you think mobile transactions are just a fad, consider that Starbucks generated over $1 Billion from Mobile Transactions in 2013. These are in-store transactions that Starbucks customers completed by using their phones at the register. The Business Insider estimated that mobile transactions accounted for over $30 Billion in 2013. Also, according to a recent […]
The importance of customer information and of following procedures for filling out cheques. In the case of bank drafts and of bank cheques, it is the payee who bears the risk of loss through cheque forgery or when cheques are tampered with. however, if basic procedures are followed by banks in informing their customers, and […]
With a Gross Domestic Product of US$ 2.253 trillion in 2012, Brazil is the world’s seventh wealthiest economy. However, the Brazilian economy slowed significantly over 2011 and 2012. The previous GDP growth of 7.5% decelerated to 2.7% in 2011 and came to 0.9% in 2012. The good news – Brazil’s gross domestic product gained 2.3 […]
The so called “Smart Card” – basically a credit card with an embedded microprocessor – is being implemented in the U.S. marketplace. Why? Because starting in October of 2015, policy changes by MasterCard, American Express and Visa will protect – from certain liabilities – whichever party has the more secure EMV technology (smart card) in […]