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Google Cloud Gets Into Mortgages With AI-Powered Tool

PYMNTS

Google Cloud is aiming to innovate the mortgage industry with its new artificial intelligence (AI) tool called Lending DocAI. Sudheera Vanguri , product manager lead at Google, said in a b log post on Monday (Oct. Lending DocAI is part of Google's Document AI portfolio for the mortgage industry. billion.

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Online/Digital Account Opening: A Bridge and A Moat

Abrigo

Offering Digital Consumer and Commercial Accounts Benefits Financial Institutions Banks and credit unions that enable online/digital account opening win new customers and members and retain existing ones. . Takeaway 1 Many financial institutions are adding or improving online or digital account opening capabilities. .

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BBVA On Google, Digital Banking And The Rise Of The ‘Everyday App’

PYMNTS

3) that it would work with Google to deliver “smart” digital bank accounts, using Google Pay as an app-driven way to broaden its digital reach and improve users’ experiences with their financial institutions (FIs). To that end, BBVA was one of six banks that said on Monday (Aug. Ready For The Digital Shift.

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Google Play Store Nixes Payday Loan Apps

PYMNTS

High-interest consumer loans — often known as payday advances — are now banned from having apps on the Google Play store, The Wall Street Journal (WSJ) reported on Sunday (Oct. ” Google banned apps charging 36 percent or more, which now puts the tech giant in the middle of the overall fight against payday loans. .”

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PayPal, Google Give OCC’s Bank Charter The Cold Shoulder

PYMNTS

The OCC held meetings with technology conglomerates Google , PayPal and others about the possibility of bank charters for the firms, reports in American Banker said on Monday (June 16). The proposal was met with early backing from the banking, FinTech and alternative lending community.

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BBVA To Close Simple, Move Customers Over To BBVA USA

PYMNTS

After Simple Bank launched as an online bank specializing in high-interest savings accounts, the current economic climate ended up making it unfeasible. PYMNTS writes that the Google and BBVA partnership could lead to more "super app" combinations in the ecosystem, as Big Tech joins forces more often with banks to meet customer needs.

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Digital financial services to generate $38b in southeast Asia, study finds

Bank Innovation

Digital financial services from lending to asset management are expected to generate at least $38 billion of annual revenue across Southeast Asia by 2025, more than tripling from $11 billion in 2019, according to a new study by Bain & Co., Google and Temasek Holdings Pte.

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