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OCC Considers Artificial Intelligence an Emerging Risk in Banking

Perficient

This mitigates the risk of customer service representatives providing incorrect information and ensures compliance with regulatory disclosures, ultimately enhancing the overall customer experience while reducing costs.

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RTP Picks Up Pace With Corporates, While CBDCs Raise Banker Doubts

PYMNTS

Our customers need financial technology tools that align with their personal and business needs,” Wells River Savings Bank Chief Financial Officer and Chief Operations Officers Judy Lavely said in the announcement. “Our Modern Treasury Raises Funding To Accelerate B2B Payments.

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Young Consumers Love to “Buy Now, Pay Later” – Here’s What to Know About the Explosive Fintech Trend

Perficient

Lauren Saunders, Associate Director of the National Consumer Law Center, said in the hearing that even for products “clothed in shiny fintech garb,” more consumer protection measures need to be in place for BNPL products and asserted that many of their “abusive profit models may be built on late fees from struggling consumers.”.

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5 ways AI can improve customer service

Independent Banker

First, with AI’s ability to mimic human intelligence, community banks can quickly process huge amounts of data to ease customer friction. Then, by monitoring AI as it works, banks can see where their customersexperience can improve. Here are common issues customers experience that AI could improve. “My

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10 Top Banking Podcasts You Should be Listening to

Abrigo

Banking Transformed Banking Transformed by the Financial Brand’s Jim Marous has new episodes several times a month and features executives from financial institutions, financial technology firms, authors, consultants, and other experts in the banking industry. keep me informed.

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How will the Apple Watch and other tech evolutions impact banking?

Abrigo

It’s not just the technology industry that is constantly evolving – many other industries must also remain adaptable to the changing landscape of the American consumer. Other tech updates in banking aim to make their customersexperience more personal and convenient. One such industry is banking.

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Key Takeaways from the OCC Forum on Supporting Financial Innovation

CFPB Monitor

Mr. Curry stated that he would like FinTech firms to feel comfortable engaging with the OCC about their new financial technologies, given the OCC’s expertise in the field. Finally, we noted some comments of concern regarding national bank charters and the possibility of creating a new type of charter for FinTech companies.