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

Financial firms bank on A.I. as pilot projects head to production

IT World

The financial services sector is pouring money into artificial intelligence (AI), with banks, for example, expected to spend $5.6 billion on AI in 2019 – second only to the retail sector.

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?

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.

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

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

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?

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

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.

[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.

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.

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.

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,

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.

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.

Stop Cold Calling: Get the One-Call Meeting

Sales Hacker

Whether you make cold calls now or not, leverage the power of your referral network and hit your sales numbers without hitting the phones—with less sweat and results you can bank on.

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.

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.

Want Leads? We Got ‘Em

SaaStr

We’ll have 2,500 founders and execs right in the Left Bank of Paris. If you sell to B2B companies in particular and want leads — we got ’em. SaaStrEuropa is coming up FAST on 12-13 June. SaaStrAnnual is in March of 2020 at San Jose Convetion Center again and will be monster. 30% of the booths are GONE from renewals so pick now. Pick by March and get the renewal rate (2018) instead of the 2019 rate and the best location.

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

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.

Lessons From a Second-Time Founder: How Brex Went From 0 – $1B in Under 2 Years (Video + Transcript)

SaaStr

So, there’s all these people who are just using debit cards, and just walking around with debit cards with 120 000 in the bank, or just using their personal card for all these things. ” We all have all these banks, and they’re a pain to deal with.

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.

PSD2 and Millennials. Change is coming: WePay’s Week in Payments

wepay

Change is coming to banking and secure payments in Europe. The EU has issued a revised directive on payments services (PSD2) that replaces the existing PSD and which aims to provide safer and more secure online transactions for banks and consumers.

5 Interesting Learnings From Slack. As It Gets Ready to IPO.

SaaStr

With $840m in the bank, Slack has essentially infinite runway. With Slack’s IPO data and financials finally public, what is left to know about the app we all use and have been reading about for years?

Global blockchain spending to hit $12.4B by 2022; finance sector leads growth

IT World

billion this year – will come from the financial sector, where banking, securities and investment services, and insurance industries will invest more than $1.1 The largest chunk of worldwide spending on new blockchain networks – nearly $2.9 billion, according to a new IDC report. The research firm also noted that blockchain implementations are moving quickly beyond the pilot and proof-of-concept phase to real-world production systems. Further reading: What is blockchain?

Tailored Brands: A Gentleman’s Concern

ReSci

Bank, has been facing headwinds. Tailored Brands, the company that owns Men’s Wearhouse and Jos. Traditional retail strategies aren’t working out as planned, and a tuxedo rental partnership with Macy’s did not meet expected revenue targets, further enforcing the difficulty that retailers are having. The post Tailored Brands: A Gentleman’s Concern appeared first on ReSci. Customer Segmentation Digital Retail eCommerce

Integrated payments and running a modern company at SaaStr Annual 2019

wepay

In fact, we’re now working with our banking colleagues on technology product approaches and Chase leaders speak half in jest about WePay having acquired them. One of our favorite conferences of the year – SaaStr Annual – is almost here.

Homejoy’s $38M Lesson: Without Customer Retention, “Growth” is a Dirty Word

ReSci

Just three years ago, Homejoy had $38 million in the bank thanks to backers like Google Ventures and Redpoint Ventures. The startup, which facilitated on-demand cleaning services…. The post Homejoy’s $38M Lesson: Without Customer Retention, “Growth” is a Dirty Word appeared first on ReSci

Improved Know Your Customer (KYC) Document Upload Process

wepay

To comply with financial regulations, WePay must collect and verify KYC information from all merchants before we can pay out any funds in their WePay account to their bank account.

WePay’s Week In Payments: AI, Mobile Growth and White House Policy

wepay

AI in Banking. Although AI ( Artificial Intelligence ) in banking and the financial sectors has a long history, almost as long as that of AI itself, the reality is that it still hasn’t made significant penetration except in highly specialized sectors.

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FinTech Newsletter: April 2019

Andreessen Horowitz

“Traditional banking services have fallen flat for an enormous segment of the population — whether because they’re ‘unbanked,’ or because the state of … fintech payments financial services tech is global

Techstars and 43North Partner to Grow Entrepreneurial Ecosystem in Buffalo

TechStars

The Techstars Startup Ecosystem Development program in Buffalo is a partnership with 43North, with support from M&T Bank, National Grid, and others to be announced.

5 strategies to become a great SaaS CEO

SaaStock

Close shaves with nearly $0 in the bank. We had 2 weeks of runway in the bank. “I let $800k sit in the bank for seven years. On the day before the official program of SaaStock18 began, we hosted 8 bootcamps around Dublin as part of SaaS.City, our 1-day accelerator.

Surveys highlight Fintech futures: WePay’s Week in Payments

wepay

The report concludes that this consumer segment is the most likely to be annoyed by false declines and most likely to abandon a bank or merchant for that reason. Probably a good position for the banking industry to take but perhaps less popular a position among fintech startups.

People of WePay: Jennifer Parker, Chief Revenue Officer

wepay

When I joined the bank approximately nine years ago, I was an individual contributor in sales. Chase consumer bank is in approximately 61 million U.S. households do business with our bank and this is including 4 million small businesses.

The Startup Sector That’s Quietly Booming

Tom Tunguz

Consumer Credit - After the crash of 2008, bank lending collapsed. SMB capital access - In addition to consumers' feeling the tightening of the credit market, small and medium businesses suffered as local and regional banks' pursestrings contracted in tandem.

Introducing our new ACH solution

wepay

We’re delighted to announce that WePay has made the ACH bank transfer a standard payment option available to US platform customers, effective immediately. This means that the 90%+ of US households maintaining bank accounts can now use those accounts to pay on platforms directly, without having to involve the credit card networks. Your users will see “Pay with bank” as a payment option in addition to credit cards. Select bank from list of choices and login. (If

Looking for customers in all the wrong places

Practical Advice on SaaS marketing

When asked why he robbed banks, Willie Sutton explained “because that’s where the money is.” Not that marketers are bank robbers, but the same idea applies to finding prospective customers. If you want to get their attention, you need to go where they are.

WePay’s new ACH and email security benefits

wepay

We launched Pay With Bank (commonly known as ACH or eCheck payments) in September 2015 as an alternative payment method well suited for partners dealing with large-volume transactions, where credit card fees become simply too expensive for merchants and/or the transaction amounts exceed payers’ card limits. Improving our email messaging for both payers and merchants if a payer’s bank rejects an ACH payment.

SMB update: WePay survey finds payment challenges galore

wepay

Another benefit of processing payments through a software platform: fewer visits to the bank are needed! SMBs that process all payments online are much less likely to go to the bank on a daily or weekly basis. While 10% of all SMBs never need to make bank trips for their business, this figure is 45% for SMBs who process all of their payments online. What’s it like to run a small business? What obstacles do small business owners face?

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