As big banks try to win over customers with digital upgrades that resemble slick user interfaces from fintech startups, community banks are looking at new ways to keep pace with customer expectations....
The Royal Bank of Canada, Canada's largest bank, is seeing results from its $3.2 billion investment in digital transformation. In a second-quarter earnings call on Thursday, the bank reported that year-over-year digital adoption (desktop and mobile) increased 52 percent and 90-day active mobile users increased 17% from one year ago to 4.1 million, resulting in […]
With the barrage of AI-based banking tools on the market, cultural- and gender-based algorithmic biases are top of mind for bankers. As AI and machine learning tools are increasingly deployed to anticipate customer behavior or assess creditworthiness, taking a step back and understanding how bias is introduced into the process is key. Speaking at SourceMedia's […]
Kansas City-based nbkc bank is building a conversational banking app with Finastra on the vendor’s growing FusionFabric.cloud open platform. The digital-savvy community bank, which uses Finastra's Phoenix core banking solution, wants to be at the forefront of new and evolving communication channels to ensure it can meet customers wherever and however they want to do […]
You may not have heard of the term “Silicon Alley,” but I am sure you are aware of the game-changing financial technology that is emanating from it. “Silicon Alley” was initially coined in the mid-1990s as a way to group media startups housed around the Flatiron neighborhood of Manhattan. I hope that doesn’t give you […]
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 […]
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 […]