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FHFA announces Office of Financial Technology

CFPB Monitor

On July 18, the Federal Housing Finance Agency (“FHFA”) announced the launch of a new Office of Financial Technology with the goal of advancing effective risk management as it evaluates fintech developments in the housing finance space. In the introduction to the RFI, the FHFA noted President Biden’s March 2022 executive order.

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Online/Digital Account Opening: A Bridge and A Moat

Abrigo

It doesn’t grab the attention the way concepts like open banking or cryptocurrency do,” wrote CCG Catalyst Director of Research Kate Drew in a report. Improved Customer Experience. Strong customer acquisition is imperative for financial institutions looking to grow. In late February, for example, SoFi Technologies Inc.

Online 195
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Show Me the Money: Banks and Credit Unions Need to Establish a Chief Revenue Officer Position

Gonzobanker

There’s a saying that “some things never change,” and when it comes to mid-size banks’ and credit unions’ technology priorities, there’s some truth there. Improving the customer experience” has been financial institutions’ (FIs) top tech priority for the past three years with roughly three-quarters of institutions citing it as a top priority.

Lending 128
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Bank Multiple Improvement: 33 Items Stakeholders Want to Know Now

South State Correspondent

The Customer Experience: A declining equity market, problems in crypto, decreasing real estate values, and higher rates have now made both consumers and businesses care more about banking and their financial future. Now, more households and businesses are thinking about switching banks, and the customer experience is king.

Trends 195
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The 2022 GonzoBanker Awards

Gonzobanker

SoFI gets a commercial bank that brings deposits, compliance, AND business lending. Goes to MoneyLion for lots of obvious inappropriate behavior including violating the Military Lending Act regarding capped lending rates. The Smarter Bank Technology Award. The Smarter Bank Customer Experience Award.

Community 216
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The 2023 GonzoBanker Awards

Gonzobanker

Meanwhile, technology changes continued at a breakneck pace, with generative AI the biggest topic around management tables. The specifics are unclear, but bankers recognized that this will be an absolute game-changing technology in future years, and delivery will change in ways we can’t even conjure yet.

Fintech 194
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Acquire or Be Acquired 2023: Disruption ‘Comes Home’ to Banking

Gonzobanker

Many speakers talked about the huge opportunity to integrate fintech and breakthrough technologies like blockchain and AI into the established banking industry. As disruptive innovation “comes home to banking,” the team at Cornerstone Advisors predicts that the ability of technology to drive tangible business outcomes for banks may skyrocket.

Arizona 144