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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Fintechs Face Difficult Regulatory Realities on Charters

Jake Martin
April 25, 2019
Compliance, Exclusive, Lending, Operations, Premium, Retail, Security & Risk, Startups

WASHINGTON, D.C. — Fintechs are having trouble facing reality when it comes to obtaining bank charters, FDIC Chairman Jelena McWilliams and Comptrolle...

Venmo Revenue Growth Exceeds Analysts’ Predictions for Q1

Tatjana Kulkarni
April 25, 2019
Exclusive, Payments, Premium, Retail

PayPal's P2P service Venmo has exceeded analysts' first-quarter estimates in two key areas: annual revenue run rate and number of users, according to ...

Bank CEOs Say Don’t Hold Your Breath for Predicted Wave of Deals

Bloomberg News
April 25, 2019
Bloomberg, Corporate, Exclusive, Operations, Retail

The biggest bank merger since the financial crisis — February’s $28 billion tie-up between BB&T Corp. and SunTrust Banks Inc. — was su...

Mnuchin Prefers Private Over Government Solutions to Data Collection, Use

Jake Martin
April 24, 2019
Compliance, Exclusive, Payments, Premium, Retail, Security & Risk, Startups

WASHINGTON, D.C. — U.S. Secretary of the Treasury Steven Mnuchin said today that he prefers private over government solutions when it comes to collect...

Zelle Reports Record High Payment Value, Volume in Q1

Tatjana Kulkarni
April 24, 2019
Exclusive, Payments, Premium, Retail

Zelle, the P2P payments service run by Early Warning Services LLC, reported $39 billion in transaction value for the first quarter of 2019, representi...

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,...

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