Report from NACHA: Faster Payments get Banking Moving

wepay

The primary participants at the conference are financial institutions big and small, corporate customers and all the processing partners that move money along bank rails. Big banks were really concerned about losing revenue and about changing architecture on legacy systems.

Verifying Bank Account Ownership: Understanding your Options

Agile Payments

Advances in the online payments sphere have now made it possible for businesses to verify bank account ownership. This real-time checking account verification can confirm that a consumer or business owns the account, and is authorized to transact.

Bank Account Owner Authentication Service: Moving Beyond Check Verification Services

Agile Payments

Bank Account Owner Authentication Service: Moving Beyond Check Verification Services. Checking Account Owner Authentication

How Can Product Analytics Benefit Banks?

Rakam

Having an understanding of user behavior is crucial for the banks to design better apps and products which would make users loyal to the brand. Many banks use Business Intelligence tools, but only the minority of the banks empowers their teams with the product analytics. In this article, we will talk about the various uses cases for the banks.

Banking: The Next Big Subscription Economy Story

Zuora

By John Phillips, Managing Director EMEA, Zuora In some ways, banks are the ultimate subscription business: from the moment you […]. The post Banking: The Next Big Subscription Economy Story appeared first on Zuora

What is the norm for a “rainy days” bank buffer, considering payroll, rent, and everything in-between?

SaaStr

If you have > 50% of your ARR in cash, in the bank, that’s usually enough to make the key accretive investments you need to make in people, infrastructure and marketing, If you are at $10m ARR, you need at least $5m in the bank to comfortable hire the say 50+ folks you’ll need to hire the next year. I had $2m in the bank at $10m ARR. The post What is the norm for a “rainy days” bank buffer, considering payroll, rent, and everything in-between?

57 Customer Relationship Management Software Alternatives (That Won’t Break the Bank)

Groove HQ

The post 57 Customer Relationship Management Software Alternatives (That Won’t Break the Bank) appeared first on Groove Blog. You know the big names in customer relationship management software. And, you know the big price tags. Do you know the CRM alternatives?

Facebook’s cryptocurrency ratchets up pressure on banks, but has big risks

IT World

Facebook's plans to launch its own cryptocurrency and digital wallet should be a clarion call to commercial banks: if you don't begin to explore blockchain technology, tech companies could eat your lunch.

Is Co-browsing Safe? Yes, Banks Use it

Upscope

Is it safe enough for banks? Co-browsing is used in production by major corporations and international banks. There's always a moment of anxiety when downloading software and maybe that's why people like co-browsing because there are no downloads.

Key Bank SaaS Survey: Four Takeaways for Finance Teams

Sage Intacct

At fast-growing SaaS companies, CFOs and finance leaders are increasingly viewed as the business-model architects who analyze and guide the organization to successful outcomes.

The Investment Banking Landscape: Different Types of M&A Firms

Divestopedia

You're ready to sell your business, but you're not clear what type of banking firm to choose to help you in the process. This article provides a breakdown of each type, as well as its individual pros and cons, so you can make the best decision for you

Fintech Newsletter: June 2019

Andreessen Horowitz

542 million years ago, in perhaps the most important evolutionary moment in history, complex biological life emerged in an event known as … fintech networking payments community banking etfs ethical investing financial services fintech startupsGet this monthly update from the a16z FinTech Team: sign up here. Top Startup News. Fintech’s Cambrian Explosion.

Fintech banks and a rise in consumer authentication: Wepay’s Week in Payments

wepay

Two developments, one in the US and one in the UK, signaled a potential shift in the banking world and Fintech. The two developments each heralded the possible rise of a brand new kind of bank founded on a completely different model than the traditional bank.

Techstars Announces $42 Million Investment

TechStars

July 30, 2019 – Techstars , the worldwide network that helps entrepreneurs succeed, today announced a $42M investment led by SVB Financial Group , the holding company of Silicon Valley Bank, with additional participation from existing investors including Foundry Group.

Why Wells Fargo plans to pilot its own cryptocurrency

IT World

Wells Fargo Digital Cash, which will run on the bank's first distributed ledger technology (DLT) platform based on the R3 Corda Enterprise blockchain specification, will enable internal book transfers of cross-border payments within the bank's global network.

Fintech’s Second Wave: Lenders in Disguise

Andreessen Horowitz

The peer-to-peer lender was a media and investor darling, hailed as a tech-enabled alternative to traditional banks. In 2006, LendingClub introduced a then-novel business model: the ability to offer online personal loans to millions of underserved customers.

The Next Generation of Cloud Security Startups

Andreessen Horowitz

The recent Capital One data hack and breach that compromised sensitive information for 106 million people, including 140,000 Social Security numbers and 80,000 bank account numbers, was executed by a single hacker who exploited a well-known vulnerability in cloud-based SaaS … cloud computing enterprise & SaaS news security & privacy 16 Minutes

Cloud 72

Founding Stories: Synapse

Andreessen Horowitz

Now imagine trying to open a bank account at a local branch without the traditional forms of identification: no driver’s license, no social security card, and so on. Imagine moving to a new country to start college.

On CFIUS Reform: Examining the Essential Elements

Andreessen Horowitz

Senate Committee on Banking, Housing, & Urban Affairs as part of their hearings … China policy field notes M&A

Barclaycard joins forces with SAP to simplify corporate payments

ITPro

Ariba Network’s Precisionpay Bank Transfer will speed up the time it takes for businesses to receive payments for goods

Grab One of My Final 25 Tickets for SaaStr Europa!

SaaStr

Europa 2019 in the Left Bank of Paris is capped at 2,500 total. Boy we are close!! We are now at total capacity and have moved to a waitlist. The team has saved me 25 final tickets. You can grab one here. Once they are gone, there will still be a few more slots.

Payment Facilitation Solutions For Property Management Platforms

Agile Payments

This ability to onboard clients without having the user apply for a traditional merchant account [that can take days and require supporting documentation like bank statements and tax returns] offers a friction-free onboarding experience.

[SaaStock Latam special]: How Superlógica grew 10x by improving pricing plans

SaaStock

Previously his career path had traversed a variety of industries including banking, health, and EdTech. Tune in for an extra bonus episode of the podcast, hosting SaaStock LatAm speaker André Baldini, CEO of Superlógica who tell us how the company grew revenue 10x.

So You Need an ACH Transfer API - 2019

Agile Payments

Quite simply, it's an API that provides the ability for a software application to integrate ACH processing capabilities for the purpose of providing the application to originate, manage and report on the transfer of funds between bank accounts. What is an ACH Transfer API, anyway?

Declan Kelly Joins Techstars Investment Team

TechStars

Prior to joining Techstars, he served as the Head of Investors at Web Summit, the largest tech conference in the world, where he worked closely with some of the world’s leading angel investors, venture capital funds, LPs and heads of global M&A and TMT banking.

The 18 Awesome Women of SaaS in Asia

SaaStock

With a Master’s degree in Law, she delved into investment banking and equity capital, working at Credit Suisse, J.P. Morgan, and Deutsche Bank. in 2015, she made a move to the other side and left banking.

Hustle As Strategy

Tom Tunguz

What differentiates the best banks from the middle of the pack aren’t differentiated financial products or novel go-to-market strategies or new insights into the market. One manager, responsible for a remarkable turnaround in American banking, attributes much of his success to “a very rigorous and steady management review process, which was one of the hardest things that was put in, and which was done right in the beginning.

Zelle and payment futures: WePay’s Week in Payments

wepay

This week’s news in payments was dominated by one big announcement: US Banks launched a P2P payment solution, Zelle, aimed squarely at Venmo. The participating banks include a huge list, so this is very much a well thought-out market entry. Bank and Wells Fargo.

ADDI

Andreessen Horowitz

Although access to fair credit is still an issue, it’s safe to say the banking system … fintech payments announcements financial services tech is globalMore than two-thirds of Americans have at least one credit card. In fact, the median number of cards per person is almost four.

The Two Things You Need From Early Customers that Matter More than Cash

Tom Tunguz

A great customer logo slide is like a bank account. As you start to go to market, there are two things to prioritize from early customers that matter more than cash. Feedback and marketing rights. The feedback matters for obvious reasons.

The Fourth Barclays Accelerator, powered by Techstars in starting in Tel Aviv!

TechStars

Modern Banking for Cooperative Credit Societies in India. We are thrilled to announce the 10 extraordinary teams that are joining the Barclays Accelerator, powered by Techstars Tel Aviv today, March 31. Three months of hard work in the world’s “Startup Nation” is awaiting the class of 2019.

5 Criteria to Consider Before Choosing the Right Investment Banker

Divestopedia

There are five key factors that should influence your decision when you're considering an investment bank for your business. Finding the right fit insures both parties get what they want out of the deal

You Should Be Collecting At Least 100% Of Your MRR Each Month in Cash. Ideally, 110%+.

SaaStr

They hook up a payment system when they start as self-service, and the cash magically flows into the bank account. Pay out a lot of 15%-20% commissions on deals where the cash never comes in, and watch your bank account shrink in real-time.

Canada Electronic Funds Transfer

Agile Payments

Options are limited because of the small number of banks that run the payments sphere. Canada Electronic Funds Transfer processing options are scarce compared to the ACH processing providers available in the United States.

How to Reduce Customer Credit Card Decline Rates

Rebilly | Insights Into Subscription Billing

Yet many of those payment declines bore no relation to the customer’s honesty, credit or bank balance. According to a survey from CompareCards.com, 12 percent of all credit and debit card users in the US experience a card decline each year. The cost to the merchant was significant: 2.6

Still Buzzing from Annual? Come Join Us at SaaStr Europa in Paris June 12-13 for As Low at $199!

SaaStr

This year we’ve moved from the Opera District (which was cool) to the top location on the Left Bank (even cooler); So get tickets now before prices go up 100%! Still processing all the learnings from 2019 SaaStr Annual? I know I still am. We’ll write more soon.

What are the benefits and drawbacks of having co-CEOs?

SaaStr

Bet-the-bank innovation has to come from the top. Like many things, my thinking on this has evolved over time. I used to think co-CEOs was almost always plainly a bad idea. But now I think maybe it’s only a bad idea when done for the wrong reasons.

Blockchain: Renewing Trust in Charities

TechStars

In addition, charities will no longer need to depend on institutions like banks or various government agencies that may apply shady practices while handling the donated funds. By Matej Michalko, Founder and CEO of DECENT.

SaaStr’s Most Respected Leaders Awards 2019: The Top Five

SaaStr

She went on from there to become CEO of Merrill Lynch Wealth Management, Citi Private Bank and Smith Barney. Stripe’s software allows its customers to make and receive payments by providing the technical, fraud prevention and banking infrastructure to operate online payment systems.

Which Categories of Seed Startups are Thriving? Which Aren't?

Tom Tunguz

FinTech - challenger banks, new electronic stock brokers, AI-powered investment advisors; startups are besieging the incumbents of this regulated world and assailing them in ever greater numbers. Which sectors see more startup company formation than others?

How blockchain may kill the password

IT World

Imagine a company that can verify the background of a new employee and onboard them with the click of a single virtual button, or a banking customer who can verify their identity for a loan without exposing personally identifiable information – again with a click of a button.

Payments Industry Predictions for 2019

wepay

Common predictions arose such as continued consolidation in the fintech and payments space, rapid growth in adoption and use of faster payments solutions and a fintech getting granted a chartered bank license in the US. A movement to open standards – Open Banking driven by PSD 2.0,

Apple now has $210 billion in cash on hand. What should the company do with this money?

SaaStr

That adds no value to the company, and shrinks its bank account. It’s confusing. Realistically, Apple, or almost any successful tech co., can only do 3 things with their huge piles of cash: Buy other companies ; and/or. Repurchase their own shares ; and/or. Declare or increase dividends.