Banking
Citi streamlines commercial lending with the help of AI
[ad_1] The partnership between Citigroup and Numerated will help automate transferring important financial data from borrowers to the bank’s own systems. The transition should…
Tag: AB – Technology
Banking
Banks, fintechs tackle the complexity of KYB with AI and other tech
[ad_1] Small-business formation is booming. So are opportunities for fintechs targeting financial institutions that bank these entities to break into the business verification space.…
Banking
‘Tech apprehension,’ other hurdles that keep small banks from innovating
[ad_1] Richard Rotondo, vice president and digital bank manager for American Commerce, who lead the development of Monesty. “A lot of institutions either need…
Banking
How a Mississippi credit union attracted $8 million in new deposits
[ad_1] Combining the August 2023 launch of Statewide Federal Credit Union’s new savings account with aggressive marketing efforts proved fruitful for the credit union,…
Banking
Inside a Zelle fraud that almost lost a Florida consumer $3,500
[ad_1] According to the Pew Research Center, 13% of people who have ever used PayPal, Venmo, Zelle or Cash App say they have sent…
Banking
Europe may have an answer to U.S. wire transfer fraud questions
[ad_1] A move by Citigroup to dismiss what it called a “misguided” and “imaginative” wire-fraud lawsuit by the New York attorney general has gotten…
Banking
Fintech partner banks facing ‘volatile mix’ of supervisory scrutiny
[ad_1] The Federal Reserve Board of Governors has created a new supervisory team specifically to oversee novel activities.Stefani Reynolds/Bloomberg Federal regulators have taken a…
Banking
Digital Federal Credit Union debuts self-service mortgage portal
[ad_1] With the addition of the self-service portal, DCU was able to boost lending from roughly $1 billion in mortgage loans when talks began…
Banking
Treasury accuses banks of ‘insufficient data sharing’ on fraud
[ad_1] In a report last week on AI and cybersecurity, the U.S. Department of the Treasury said that, while banks tend to share plenty…
Banking
FDIC rebukes Sutton Bank, Piermont Bank over fintech partners
[ad_1] Banks that offer banking-as-a-service to fintechs be warned: Regulators continue to critique these programs. In the most recent example, the FDIC announced consent…
Banking
Banking on AI: How financial institutions are deploying new tech
[ad_1] Lack of understanding remains a key hurdle for adopting traditional and generative artificial intelligence-powered tools, but banks and credit unions are still eager…
Banking
Navigating the future of banking, Fintech and AI
[ad_1] What are the best use cases for generative AI in banking and fintech? What do banks and fintechs need to do to keep…
Banking
An AI helper for third-party risk management
[ad_1] Michael Berman (left), founder and chief executive of Ncontracts, and Ginger Devine (right), senior vice president and senior risk officer at Citizens First…
Banking
Ent Credit Union's new approach to training: virtual reality
[ad_1] The Colorado-based institution is overhauling its training procedures by using simulated VR experiences to prepare new member service representatives for their roles without…
Banking
Cash-advance firm FloatMe hit with $3 million FTC penalty
[ad_1] The operator of a cash-advance app has run into trouble with the Federal Trade Commission — for the same reasons one of its…
Banking
Banking-as-a-service banks support call for fairer exams
[ad_1] Sen. Joe Manchin, a Democrat from West Virginia, and Sen. John Moran, a Republican from Kansas, reintroduced the Fair Audits and Inspections for…
Banking
What will banks' tech priorities be in 2024?
[ad_1] Financial institutions are increasing their tech budgets and honing in on AI in 2024 following a rollercoaster year of bank failures, interest rate…
Banking
Citizens Bank is changing up its direct deposit switch process
[ad_1] The $225 billion-asset bank is doubling-down on its partnership with the New York-based payroll verification and direct deposit account-switching firm Pinwheel to streamline…
Banking
Upgrade says its secured card has trifecta of differentiators
[ad_1] A fintech company has launched a secured credit card, the second to do so in two months. Upgrade, which offers checking and savings…
Banking
Citrix software bug leads to outages at 60 credit unions
[ad_1] Digital banking functions at approximately 60 credit unions have been interrupted by a ransomware attack on a third-party service provider, but there is…