Bank Innovation | The Future of Fintech

Artificial Intelligence

Traditional FIs See Fintechs as ‘Significant Threat’ by 2022, Study Says

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Fintech AsiaCollect Seeks to Digitalize Debt Collection in Southeast Asia

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Adoption of Chatbots on the Rise, But Where to Next?

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Traditional FIs See Fintechs as ‘Significant Threat’ by 2022, Study Says

Nearly 80% of traditional financial institutions feel little or no threat from fintechs today, but 65% believe fintechs will be a “significant threat” by 2022, according to a new study by Harvard Business Review. The survey of 300 executives from traditional FIs also found that 20% said their organizations don’t compete with fintechs “at all” […]

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Fintech AsiaCollect Seeks to Digitalize Debt Collection in Southeast Asia

With the majority of the region's debt collection being handled by small, provincial agencies, the process in Southeast Asian markets is still mostly manual. Digital debt collector AsiaCollect is hoping to change that. Based in Singapore, AsiaCollect unveiled a standalone, AI-based platform called SmartAgent, which it plans to roll out in India in the coming […]

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Adoption of Chatbots on the Rise, But Where to Next?

Adoption of chatbots is on the rise. So are questions about how they can do more. Bank of America reported 6.3 million users of its virtual assistant, Erica, in the first quarter of 2019, up from 4.8 million the previous quarter. The AI-powered chatbot has completed 39 million interactions since its launch, the bank said. […]

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The Non-QM Challenge & How Technology Can Help

The Best Online Banks Right Now

Study Shows Strong Relationship Between Credit Score Review and Credit Score Increase

The Non-QM Challenge & How Technology Can Help

By all accounts, the non-qualified mortgage (non-QM) market is booming. In 2018 alone, $11.38 billion of expanding-credit MBS, including non-QMs, was issued, and analysts expect a 60% increase in these products in 2019. Despite this sudden rise in popularity, many mortgage professionals still have concerns about non-QMs, fearing increased risk after the mortgage market finally […]

The Best Online Banks Right Now

Keeping your money in a bank is common sense at this point, but online banking is – unfortunately – not something many people have grown accustomed to, yet. There are many benefits to explore in this area, and it’s not a bad idea to check out what some online banking services can do for you […]

Study Shows Strong Relationship Between Credit Score Review and Credit Score Increase

Can regularly checking your credit score actually help improve your results? We wanted to know the answer to that critical question, so Credit Sesame partnered with Megan Hunter Antill and Jessica Yu, Ph.D., candidates in Quantitative Marketing at Stanford Graduate School of Business, to find out. We conducted an analysis of consumer behavior patterns and […]

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Traditional FIs See Fintechs as ‘Significant Threat’ by 2022, Study Says

Jake Martin
April 23, 2019
Artificial Intelligence, DataBank, Exclusive, Experience & Design, Open Banking, Premium, Retail, Startups

Nearly 80% of traditional financial institutions feel little or no threat from fintechs today, but 65% believe fintechs will be a “significant threat”...

Fifth Third Bank to Add 100+ Branches to Improve Customer Experience

Tatjana Kulkarni
April 23, 2019
Commerce, Exclusive, Experience & Design, Operations, Premium, Retail

For Fifth Third Bank, customer service is not just about digital transformation. The bank also wants to expand its physical retail branch footprint, a...

Fintech AsiaCollect Seeks to Digitalize Debt Collection in Southeast Asia

Tatjana Kulkarni
April 23, 2019
Artificial Intelligence, Exclusive, Lending, Open Banking, Operations, Premium

With the majority of the region's debt collection being handled by small, provincial agencies, the process in Southeast Asian markets is still mostly ...

Dubai’s Biggest Islamic Bank Weighs Acquiring Local Rival

Bloomberg News
April 23, 2019
Bloomberg, Capital, Exclusive, Premium, Retail

Dubai Islamic Bank PJSC is weighing a possible acquisition of smaller rival Noor Bank PJSC as the United Arab Emirates’ biggest Islamic lender seeks w...

Adoption of Chatbots on the Rise, But Where to Next?

Jake Martin
April 22, 2019
Artificial Intelligence, Exclusive, Experience & Design, Premium, Retail, Startups, Wealth Management

Adoption of chatbots is on the rise. So are questions about how they can do more. Bank of America reported 6.3 million users of its virtual assistant,...

Financial Apps Have Better Mobile Retention Rates Than Other Industries, Report Says

Daniel Lehewych
April 22, 2019
Artificial Intelligence, DataBank, Exclusive, Experience & Design, Operations, Premium, Retail, Sales & Marketing, Social Media

Neither video games nor dating nor shopping have a stronger pull, in terms of initial mobile app retention than financial apps, according to one repor...

Have a Credit Card? You’re Among China’s Fortunate: Shuli Ren

Bloomberg News
April 22, 2019
Artificial Intelligence, Bloomberg, Capital, Commerce, Exclusive, Payments, Premium, Retail

Owning a credit card can seem like a rite of passage in the U.S., where even a college student with no income can sign up and start swiping. More than...

Millennials Represent Nearly 3 of 5 New 1Q Account Openings at Ally

Jake Martin
April 19, 2019
Capital, Exclusive, Experience & Design, Lending, Premium, Retail, Startups

The Detroit, Mich.-based online-only bank, Ally Financial, had 120,000 new deposit customers in the first quarter on 2019, CEO Jeff Brown said on the ...

Schack: Expanded BMO Harris Innovation Program Casts Wider Net for Ideas

Jake Martin
April 19, 2019
Capital, Exclusive, Experience & Design, Premium, Retail, Startups

BMO Harris Bank is expanding the scope of its in-house accelerator from a local to a national program. The Chicago-based bank is accepting application...

Are Ride-Hailing Apps Responsible for Southeast Asia’s Growing Fintech Market?

Tatjana Kulkarni
April 19, 2019
Artificial Intelligence, Capital, Commerce, DataBank, Exclusive, Payments, Premium, Retail, Startups

Fintech in Southeast Asia is reaching new records for both deals and funding. One of the reasons for this rise may be, perhaps surprisingly, the ride-...

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