article thumbnail

CFPB Press Release and Circular cite “abusive” steering practices in connection with comparison-shopping tools and lead generators

CFPB Monitor

The Circular advised that: “[o]perators of digital comparison-shopping tools can violate the [Consumer Financial Protection Act (CFPA)] prohibition on abusive acts or practices if they distort the shopping experience by steering consumers to certain products or services based on remuneration to the operator;” and “lead generators can violate the prohibition (..)

article thumbnail

CFPB addresses “pay-to-play” mortgage loan digital comparison-shopping platforms under RESPA

CFPB Monitor

The CFPB recently issued an advisory opinion entitled Real Estate Settlement Procedures Act (Regulation X); Digital Mortgage Comparison-Shopping Platforms and Related Payments to Operators. Continue Reading

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Uncovering the Hidden Efficiencies in Loan and Deposit Operations

Gonzobanker

Addressing common loan and deposit operations process inefficiencies can help financial institutions deliver optimized value to customers and stockholders. In recent years, many financial institutions have been focused on improving their digital delivery capabilities, often at the expense of their operational groups.

article thumbnail

Supercharged Data for Utility Companies with Oracle Analytics & EPM

Perficient

It has been written in Utility industry publications that there is an enormous opportunity to marry Operational Technology and key Finance systems and use emerging technologies such as predictive analytics to build Data that Utility executives can strategically model with and plan to ensure the best and most efficient customer experience.

Analytics 340
article thumbnail

Chatbots Bringing On Business Operations Revolution?

PYMNTS

car insurance comparison tool that’s now being made available via Facebook Messenger. Removing the shackles of the traditional 9-to-5 hours typical of a telecommunications customer service center, chatbots seem to be leading the charge for a business operations revolution. Through its $4.6

article thumbnail

A Digital Mindset: The Key to an Enhanced Strategy for Insurance Commerce

Perficient

With the rise in vaccination rates and a hopeful return to a “new normal,” it won’t be possible to put the genie back in the bottle and return to legacy operations. Transparency and control – Enhanced digital tools can help improve the commerce experience with improved research and comparison tools. . Understanding Our People .

Strategy 332
article thumbnail

How Process Mining Accelerates Efficiency for Highly Regulated, Customer-obsessed Industries

Perficient

When approached well, it enables organizations to: Unearth hyper-detailed insights into how work is done Identify processes that hinder productivity and are ripe for a rethink This is accomplished by combining data science and process management to deeply understand operational processes based on an organization’s widely available activity logs.

Industry 221