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Commercial Banks Turning to Fintechs to Improve Customer Experience, Report Says

Bank Innovation

commercial banks are increasingly looking to fintechs to improve customer experience. commercial banks are considering new fintech partnerships for improving either customer experience or security, and in some cases -- both. In fact, a new Fraedom report shows that 73% of U.S.

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SUCI: Rethinking Card Declines, Data Security And Customer Experiences

PYMNTS

To better serve clients and help make their businesses run smoother and more efficiently, FinTech startups are tackling an array of challenges, from data security to card declines to clunky customer experiences. When it comes to the customer experience, AvidXchange’s Denise Leleux looks through a few different lenses.

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Fostering FinTech-FI Trust With Data-Driven Security

PYMNTS

Financial Institutions (FIs) that adopt open banking allow third parties like FinTechs to integrate with their application programming interfaces (APIs) to provide personalized financial management and payment apps that draw on bank customers’ data. We need to manage risk appropriately, but open banking is a good thing,” Davies said.

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

Perficient

Here are critical facts to know about some of the most popular BNPL service platforms: Afterpay: Afterpay was founded in Australia in 2014 but was acquired by fintech Square earlier this year. When deciding whether to use a BNPL service for a purchase, it is essential to read the fine print. According to Kristen E.

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Fintechs, armed with direct SBA lender status, await more funding 

Bank Innovation

The $349 billion Congress set aside for small businesses as part of the Coronavirus Aid, Relief and Economic Security Act ran out on Thursday, and digital lenders are anxiously awaiting the next round of funding to deliver what they say is a better customer experience.

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Fintechs, lacking guidance, pivot to SBA loans 

Bank Innovation

Treasury Secretary Steve Mnuchin last weekend confirmed “any fintech lender” will be authorized to make small business loans as part of the Coronavirus Aid, Relieve and Economic Security (CARES) Act.

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Banks Need to Increase Focus on APIs if They Want to Match Fintechs, Verizon Says

Bank Innovation

EXCLUSIVE— It’s no secret that banks don’t move all that fast when it comes to new innovations, but most are starting to match fintechs at the customer experience level, according to Verizon, which provides software and internet connectivity to much of the industry.

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