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Wells Fargo launches mobile “tap and pay” functionality at 5,000 ATMs

Wells Fargo tap and pay

More than 5,000 ATMs of Wells Fargo (40% of its ATM network) now have near-field communication (NFC) enabled mobile wallet capability – i.e. the bank’s debit card customers can now “tap and pay”.

Wells Fargo fake bank account scam gets bigger

Under pressure

The scandal of employees at Wells Fargo creating 2.1 million fake bank accounts and credit card numbers to boost sales figures has just got bigger. After an expanded third-party review of retail banking accounts dating back to the beginning of 2009, Wells Fargo reveals that the number is in fact 3.5 million accounts. As reported […]

Mortgage tech innovator Blend picks up $100m investment

Blend raises

The continued rise of mortgage technology is set to be one of the biggest fintech success stories of 2017, predicts Julie Muhn, senior research analyst at Finovate (Banking Technology’s sister company).

Start-ups ProxToMe and Uniken join Wells Fargo’s accelerator programme

Security and authentication   on Wells Fargo's agenda

Wells Fargo has selected two new companies – ProxToMe and Uniken – to join its Wells Fargo Start-up Accelerator.

Google’s Android Pay gets a hand from banks and PayPal

Android Pay

Google is banking on mobile apps to boost its mobile wallet. The Android Pay parent has linked that service to a handful of banking apps, giving consumers the ability add their cards more quickly to the mobile wallet.

Top fintech stories this week – 7 April 2017

Banking Tech 2

Catch up on Banking Technology’s top five fintech stories of the week – all in one place!

Finicity first to ink data exchange deal with Wells Fargo

Wells Fargo

Wells Fargo and data aggregation provider Finicity have signed a deal that provides an API-based method for sharing Wells Fargo customer information with the financial apps and services that Finicity supports.

Wells Fargo settles account-scandal claims but runs afoul of federal regulator

Wells Fargo

Wells Fargo will pay $110 million to settle a class action lawsuit brought by US consumers over a scandal about fake accounts its employees set up for customers without their knowledge. But the trouble continues for the bank, which has received a dim evaluation from a federal regulator.

Wells Fargo faces new pressure over fake accounts

Under pressure

The top Democrat on the US House Financial Services Committee wants to interview executives from Wells Fargo over a scandal about fake accounts its employees set up for customers.

Analysis: banking innovation in the US

ready for innovation

Banking Technology puts the banking innovation in the US under the spotlight. The market is not short of digital offerings: Simple, Moven, Kabbage, Acorns, Earny, Debitize, MagnifyMoney and more – take your pick!

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