Bank Innovation

MAY 31, 2018

For online lenders, small business lending continues to grow into big business. Online lenders continue to grow their originations of small business loans, according to a new study released today by Washington D.C.-based based economic research firm NDP.

Lending 186

Lending Washington Study Online 186

PYMNTS

JULY 7, 2020

The small- to medium-sized business (SMB) lending industry is used to adaptation, especially since the 2008 financial crisis, when legacy financial institutions (FIs) began pulling back and FinTechs and digital players stepped up in the space. Alternative lenders like Bolstr, Kabbage and OnDeck used such technologies to approve 57.2

Lending 138

Lending Study Industry Tools 138

PYMNTS

SEPTEMBER 14, 2016

Pivoting from concerns and risks around financial technology innovation in the banking system, the U.S. Comptroller of the Currency said the agency will roll out a new framework for regulating marketplace lending.

Lending 100

Lending Regulation Conference Study 100

PYMNTS

FEBRUARY 19, 2019

Those who work in and around high tech and innovation are lulled into a narrative about progress being on a march ever forward, rarely slowing, never stopping and certainly never turning around and marching in the wrong direction. . Once one gets outside of the top 25 banks in the U.S., The Soft Middle in Financial Services.

Innovation 160

Innovation Fintech Marketing Study 160

Gonzobanker

JANUARY 4, 2023

Back in the day, when I was the CIO of a bank, we had a Technology Plan. It was a single document that had every aspect of the bank’s technology goals for the year – hardware, software, vendors, projects (all led by information technology, or IT, by the way) – the entire bank IT budget. John Brunner.

Technology 78

Technology System Software Groups 78

Abrigo

DECEMBER 17, 2021

Components of an effective fintech partnership If leveraging new technology is a priority for your FI, ensure these three elements are present for an effective fintech partnership. . Takeaway 1 Having a cohesive vision from the top down is critical to a culture of innovation and the successful adoption of new software. .

Fintech 195

Fintech How To Innovation System 195

PYMNTS

JUNE 1, 2018

Between 2015 and 2017, the amount of lending to small businesses by the five leading online lending providers increased 50 percent, according to a new report from NDP Analytics, a Washington, D.C.-based The report, entitled “The Economic Benefits of Online Lending to Small Businesses and the U.S. based economic research firm.

Lending 103

Lending Online Community Washington 103

PYMNTS

MARCH 13, 2017

The average small business considers itself a “moderate” user of technology, according to the PYMNTS.com SMB Technology Adoption Index. Only 13 percent say they’re willing to jump on the innovation bandwagon. 70 percent of SMEs didn’t use tax software in 2016 , found Office Depot in its most recent Small Business Index survey.

Financial Technology 127

Financial Technology Technology social media Taxes 127

Abrigo

FEBRUARY 13, 2020

Key Takeaways To better serve their community, as well as stay competitive in this fast-moving environment, savvy CFIs are carefully blending digital innovations with their hallmark relationship banking practices. However, to stay competitive in today’s fast-paced banking industry, CFIs must be willing to innovate processes to adapt.

Community 273

Community Lending Management Innovation 273

PYMNTS

JANUARY 12, 2021

The lending industry was hit hard during the pandemic’s early months, with many banks and traditional lenders rapidly adjusting their standards and rates to accommodate businesses’ and consumers’ shifting needs. This puts lenders in a sort of innovation quandary when it comes to keeping their customers satisfied.

Millennials 239

Millennials Payments Lending Study 239

FICO

SEPTEMBER 6, 2017

In this podcast for Lend Academy, FICO Blog author Dr. Scott Zoldi talks about his role as FICO's Chief Analytics Officer, the company's AI innovations and how they are being applied in credit risk, fraud management and more. Scott discusses: Why his background in theoretical physics was perfect for studying fraud and credit risk.

Lending 95

Lending Fraud Data Analytics 95

PYMNTS

DECEMBER 4, 2020

The interconnection of those daily financial events, and the technology underpinning it, gives the nod to the need for corporate banking to become more streamlined, and in some cases, proactive in serving the daily needs of enterprise clients. They’re out there; they just have to be used.”.

Lending 224

Lending Meeting User Experience Innovation 224

Perficient

JANUARY 16, 2023

Buy/build and gap analysis studies are integral in helping determine where embedded finance may reap the most benefits. . This can include offering lending services or creating embedded bank accounts for other businesses or consumers. The first one is investing in an additional offering within your brand’s digital platform.

blockchain 275

blockchain Software Customer Experience Strategy 275

PYMNTS

AUGUST 20, 2020

Seventy percent of SMBs are adding new digital capabilities or enhancing existing ones to continue their operations, but firms often require financing to implement these innovations. SMB Lending Risks. A number of technological solutions exist to help them accomplish this, fortunately. Mitigating Loan Approval Risks.

Fintech 177

Fintech Fraud Lending Regulation 177

South State Correspondent

MARCH 7, 2024

Microsoft’s Office 365 CoPilot, the integration of the Microsoft version of OpenAI’s Chat GPT into the Office suite, represents the fastest, and likely safest way, to integrate the latest technology within your bank. However, the technology is not without its risks. While some will fear it, many will crave it.

Training 195

Training Data Tools Technology 195

Celent Banking

APRIL 7, 2017

Undoubtedly, the highlight was attending Celent's Innovation and Insight Day on April 4th, where we celebrated achievements of the Model Bank and Model Insurer award winners. Emerging Technology for Consumers. Emerging Technology for Businesses. Lending Product. Consumer Banking Channel Innovation.

Case Study 189

Case Study Boston Risk Management Study 189

PYMNTS

NOVEMBER 20, 2018

When it comes to real-time payments, 59 percent of businesses said the capability would improve their cash flow and certainty, according to the PYMNTS Real-Time Payments Innovation Playbook , done in partnership with Mastercard. s Faster Payments Service has been operational for about a decade, and such technology has been live in the U.S.

Payments 175

Payments Innovation Technology Operations 175

PYMNTS

DECEMBER 11, 2019

When it comes to lending — to say nothing of the wider world of payments — innovation and disruption have been on the rise in recent years thanks to digital and mobile technology, along with online marketplace models. So-called peer-to-peer (P2P) lending has certainly faced challenges in certain markets.

Fintech 144

Fintech Lending Regional Regulation 144

PYMNTS

JUNE 26, 2020

The Tracker also analyzes how the use of cloud technology can help FIs stay on top of that shift. Utah-based FI Continental Bank is one such entity tapping cloud technology to bring more flexibility to its financial solutions as the pandemic makes seamless digital services more critical. Developments Around the Cloud Banking World.

Meeting 227

Meeting Mobile Digital Banking Tools 227

PYMNTS

NOVEMBER 13, 2018

“The industry has clearly signaled that, while our nation’s faster payments system capabilities are rapidly innovating, there’s much to be done to promote ubiquity and faster payments adoption,” said Douglas Berg, senior vice president of payment industry relations for Wells Fargo Bank, in the press release. “We

Payments 192

Payments Survey Innovation Guidelines 192

Gonzobanker

MAY 9, 2017

Is automation a missing link to a more productive and profitable commercial lending department? The 2015 Cornerstone Performance Report found significant reductions among mid-size banks in both monthly loans originated and outstandings per commercial lending full-time equivalent employee. – Reduced overhead and cost per loan.

Lending 81

Lending Analytics Data United States 81

PYMNTS

SEPTEMBER 13, 2017

New payment and financial technologies are quickly emerging from the FinTech community, all with the promise of expediting payments and reducing the distance between cross-border trading partners. APIs invite innovative changes to banking. The fear of non-payment, in particular, tends to be the smaller merchants’ worst nightmare.

Strategy 190

Strategy Report Lending Fintech 190

PYMNTS

NOVEMBER 25, 2019

PYMNTS’ Credit Union Innovation Index found that 65 percent of such members chose their CUs because they trusted them, for example, with 60.8 The same artificial intelligence (AI) technology that helps CUs with analytics can also help hackers field botnets to overwhelm CU defenses.

Alaska 154

Alaska Hawaii California Analytics 154

PYMNTS

APRIL 25, 2016

Visa is determined to make EMV faster, Starbucks wants to make getting that cuppa joe faster, too, and is crushing it with mobile order ahead and the CFPB might be moving closer to having a fast exodus of the payday lending business once its rules drop. The CFPB’s Latest Round Of Payday Lending Complaints. EMV’s Second Phase.

Lending 100

Lending Mobile Cards Fraud 100

PYMNTS

JULY 31, 2019

A study conducted last year found that 71 percent of U.S. The May 2019 PYMNTS Credit Union Innovation Playbook found that 79.4 percent of credit union executives identified anti-money laundering improvements as their top innovation priority, 62.7 percent cited data security and 60.8 percent noted anti-fraud initiatives. .

Fraud 122

Fraud Security Lending Data 122

PYMNTS

APRIL 16, 2019

A solution, he told PYMNTS four years ago , that had nothing to do with financial services or lending at all — they were actually studying hiring and figuring out ways to track employability over time with data. Our simple idea was that better technology and better data science could improve access to credit,” Girouard said.

Kansas City 223

Kansas City Lending Omaha Kansas 223

Gonzobanker

FEBRUARY 11, 2021

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. But some things do change, and according to Cornerstone Advisors’ 2021 What’s Going On In Banking study, the change in three priorities signal a shift in how FIs are managing technology: 1.

Lending 128

Lending Fintech Technology System 128

FICO

NOVEMBER 21, 2022

FICO awarded first place in six categories on risk and compliance technology in the 2023 Chartis RiskTech100 ® Report, including Innovation for the sixth year in a row. I am thrilled to announce that the annual 2023 Chartis RiskTech100® Report ranking risk and compliance technology companies is live! asokolowski.

Report 52

Report Risk Management Compliance Analytics 52

FICO

JANUARY 5, 2017

Ascentium Capital, an innovative commercial lender, wanted to expand its growing small business portfolio while keeping risk in check. I recently had the chance to speak with Chris Miller, VP of Decision Analytics at Ascentium, on how the company makes quick lending decisions for its small business customers.

Lending 64

Lending Case Study Capital Leadership 64

Celent Banking

JANUARY 23, 2017

Consumer Banking Channel Innovation – for the most creative use of consumer channels, or the most effective channel integration. Branch Transformation – for the most compelling branch transformation initiative, including branch format innovations and creative use of live agents.

Risk Management 100

Risk Management Innovation Case Study Boston 100

PYMNTS

FEBRUARY 25, 2019

The panel, which traces its genesis back two years, is comprised of two groups, focused separately on lending and payments, and is in turn part of CSBS Vision 2020. “As We had some robust discussions with them about community banking and innovation. This is an area that we are studying.”.

Regulation 147

Regulation Fintech Community Bank Community 147

PYMNTS

JULY 12, 2018

Cuomo on June 1, 2017, required DFS to study online lending in New York State and submit a report of its findings. Our review shows that while online lending has grown in recent years, our banking industry still supports the overwhelming majority of lending in New York while being subject to strong safeguards and oversight.

Online 100

Online New York Lending Regulation 100

PYMNTS

JANUARY 13, 2021

That’s distributed banking, a FinTech model that “remains invisible and never enters into a customer relationship with the end user but rather facilitates the technology, payment choices, risk management and customer experiences necessary to delight everyone in the value chain.”.

Fintech 130

Fintech Customer Experience Lending Risk Management 130

PYMNTS

DECEMBER 3, 2019

Though commercial card innovation has recently hit an acceleration point, there is still plenty of room for progress. Power Director of Wealth and Lending Intelligence John Cabell in a statement. “Basics like credit card terms, and benefits and services, are the lowest-scoring factors in our study.

Cards 101

Cards Innovation Tools Study 101

PYMNTS

JANUARY 25, 2021

A Lloyds Bank study found that this type of fraud has increased fivefold over the past year, accounting for up to 1 percent of all loan applications. Despite the security investments needed to adequately safeguard new digital solutions, banks’ di gital-first innovations are fostering trust and satisfaction among customers.

Fraud 235

Fraud Digital Banking Missouri Trends 235

Gonzobanker

FEBRUARY 26, 2019

Luckily for the banks, there are many more of the latter than the former.” – Bank Innovation. Recent fintech deals across digital, lending, payments and infrastructure are telling a big story. Lending: Mashing Up Analytics & Digital. If you want to know what’s really going on in an industry, follow the money. Money talks.

Fintech 100

Fintech Analytics Lending Case Study 100

FICO

FEBRUARY 27, 2023

15 companies recognized for successful innovation in AI, machine learning and decision management Saxon Shirley Mon, 02/27/2023 - 08:09 by Nikhil Behl expand_less Back To Top Mon, 02/27/2023 - 08:00 2023 FICO Decisions Award Winners - Decisions That Matter It's with great enthusiasm that I reveal the victors of the 2023 FICO® Decisions Awards !

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Meeting social media Management Analytics 98