Ellen Richey Appointed to Green Dot Board of Directors

FinTech Buzz

Ellen Richey Appointed to Green Dot Board of Directors

The Board of Directors of Green Dot Corporation (NYSE: GDOT) appointed Ellen Richey, former vice chairman and chief risk officer, Visa Inc., as a director of the Company. The appointment was effective April 3, 2020. Ms. Richey will serve on the Risk Committee.

Ms. Richey brings over 40 years of legal and risk management experience, most recently serving as Visa’s vice chairman of risk and public policy. In that role, Ms. Richey was responsible for driving the future of payment security at the company, serving as its voice with legislators, regulators and clients on payment security, and leading similar initiatives combining risk, business and policy issues of strategic importance to Visa.

“We are delighted to welcome Ms. Richey to Green Dot’s Board of Directors,” said William I Jacobs, Chairman of the Board of Directors, Green Dot Corporation. “Her experience and insight in areas of enterprise risk management and public policy will be a tremendous benefit to the Company as we continue to develop innovative, modern and secure payment products and services for the masses.”

Before assuming the role of vice chairman at Visa, Richey concurrently served as chief legal officer, chief risk officer, and a member of Visa’s executive committee. In those positions, she was responsible for the legal function as well as oversight of Visa’s compliance, audit and risk teams, including payment system risk, settlement risk and enterprise risk.

Prior to joining Visa, she worked at Washington Mutual Inc. as senior vice president of enterprise risk management and executive vice president of card services, and served as vice chairman of Providian Financial Corporation, where she had responsibility for the enterprise risk management, legal, corporate governance, corporate relations, compliance and audit functions.

FinTech Buzz

First Bank Participates In Nationwide Financial Bee Created By EVERFI

FinTech Buzz 2020-04-23

Maintaining its long-standing commitment to support financial literacy in the communities across the Carolinas, First Bank is sponsoring the EVERFI National Financial Bee—a first-of-its-kind nationwide financial literacy challenge for students in 7th to 10th grade.Hosted and created by EVERFI, the National Financial Bee takes place April 20-30, 2020, and provides an opportunity for students to have some fun and learn critical financial concepts at home while social distancing during the current pandemic.

It features a short daily digital lesson and capstone essay contest in which students will share a financial dream of theirs and how they plan to get there.The winners of the National Financial Bee will receive a total of $20,000 in college scholarships.

First Bank is also offering three $1,000 scholarships to students in the Carolinas who enter through its contest website.“We’ve always believed in the power of teaching children to save and to be smart with their money,” said Bill Bunn, EVP and branch banking executive.

“The National Financial Bee was an ideal vehicle to do that at a time of unprecedented uncertainty.

We are proud to support parents and students in this way, and hope it helps drive dinner-table conversations about important financial topics.”During each day of the challenge, participating students will gain new skills to create a personalized financial decision-making framework that they can apply to their lives now and in the future.

Topics include spending and saving, credit and debt, employment and income, investing, and insurance.“Across the country, families are facing unprecedented uncertainties and challenges.

Top Benefits of Cross-platform App Development for Fintech Sector

Maegan Cook 2021-10-08

Advancing technology has started influencing the BFSI sector, and we witness innovative app solutions in financial services.

These solutions fall under the fintech category and contribute to improving services.

Mobile wallets, banking apps, and cryptocurrency-related apps are some of the most popular examples of fintech apps.

In this blog, we are going to understand the role and benefits of cross-platform app development for a fintech firm

Loyalty and deal discovery segment expected to witness strong growth

sonia mehta 2021-11-19

India-based merchant commerce solution provider Pine Labs has acquired its investee Malaysian-based payments and deal discovery platform Fave in a deal valued at US$45 million. This move is expected to enable the company get into the consumer payments segment. With this multi-million cash and stock deal, Fave is planning to launch its payments app in India later this year. Whereas, on the other end, Pine Labs has a strong position in the payments segment. With this acquisition, Pine Labs can jump into several segments including merchant discovery, digital storefront, and UPI P2M (peer to merchant) space.

Financial Technology: Transform Your Relationship with Money

Soulpay Digital Banking Services 2023-09-20

It’s called Financial Technology, or FinTech for short. This fusion of financial services and technology is reshaping the way we interact with money, opening doors to convenience, accessibility, and innovation like never before. Robo-Advisors: Your Digital Financial AdvisorMeet the financial advisor of the future – the robo-advisor. These savings are passed on to consumers in the form of reduced fees and better interest rates, making financial services more accessible to a broader audience. Embrace the FinTech evolution with Soulpay, and let the magic of technology enrich your financial journey like never before.

Top 5 Factors Boosting Open Banking Industry

Prateek G 2020-08-17

Rise in adoption of new applications and services in the banking sector, supportive government regulations, and enhanced customer engagement with open banking APIs drive the growth of the global open banking market.

However, lack of awareness regarding open banking, data security, and management of security threats hinder the market growth.

On the other hand, collaboration activities between fintech firms and banks create new opportunities in the industry.The global open banking market generated $7.29 billion in 2018, and is expected to reach $43.15 billion by 2026, growing at a CAGR of 24.4% from 2019 to 2026.

The report provides an extensive analysis of changing market dynamics, market size & projections, top investment pockets, major segments, and competitive scenarios.Based on financial service, the banking and capital markets segment contributed to more than half of the total share of the global open banking market in 2018, and is expected to maintain its lead share in terms of revenue during the forecast period.

However, the payments segment is projected to witness the largest CAGR of 27.3% from 2019 to 2026.

The research also discusses segments such as digital currencies and value-added services.

Re-Modelling The Banking Customer Onboarding Process Through Automation

Indus Net Technologies 2021-08-03

If 2020 will be remembered as a dark year for the pandemic, it is darker for the banking sector. Focus on Customer Onboarding In a fiercely competitive market, banks must focus on customer onboarding with enhanced customer experience. Moreover, poor onboarding due to lack of automation process, reliance on manual workflow and long customer touchpoints will escalate the loss. According to the research report by Delloite, there are eight steps to be followed for the client onboarding process such as: Commercial banks are heavily reliant on completing these steps manually, thus slowing down the onboarding process. Thus banks must reconsider their onboarding model to be in line with the rising customer expectation of experiencing a fully digital experience. Remodelling the customer onboarding process The latest intelligent automation process can handle complex business-critical anti-money laundering (AML) and KYC process.

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