Bank Innovation

JULY 5, 2019

The Bank of Montreal has launched a mobile loan application tool for its Canadian customers. Brett Pitts, BMO's chief digital officer, told Bank Innovation the product rollout was a response to customer demand. Customers were looking for a solution that would simplify the process and provide them with a real-time decision,” he said.

Tools 186

Tools Mobile Innovation Operations 186

Bank Innovation

OCTOBER 24, 2017

EXCLUSIVE – It is not everyday that a new tool for banking at the infrastructure level is introduced, but that is exactly what Finspace has unveiled today. The new tool, a beta of which is being made available today, is called Finspace, and it serves as a pipeline between banks and businesses for the exchange of […].

Tools 284

Tools Operations Online Lending 284

PYMNTS

DECEMBER 9, 2020

What makes the current developments so interesting and exciting is that “we're just seeing that they're at the end of the innovation growth cycle,” he explained. All of these new FinTechs and digital innovators are changing the landscape as the role of payments rapidly shifts in the broader financial services arena.

Innovation 306

Innovation Fintech Payments Regulation 306

Abrigo

OCTOBER 17, 2023

Supervisory priorities Banking examiners to focus on managing change As banks and credit unions face an ever-evolving landscape that requires adaptability and innovation, they would be wise to take stock of their change management processes. This article describes recent comments by financial regulators about managing change.

Management 195

Management Lending Risk Management Strategy 195

Bank Innovation

SEPTEMBER 13, 2017

EXCLUSIVE- SME banking app, Seed, is gearing up to roll out a tool that supports Apple iPhone X’s new Face ID feature, Bank Innovation learned. This makes sense, since the San Francisco-based digital bank’s mobile app is currently only available on iOS.

San Francisco 240

San Francisco Tools Apple Mobile 240

PYMNTS

JUNE 6, 2019

When it comes to small business (SMB) lending, the top two contenders for business owners are banks and alternative financiers or online marketplaces. The SBA and NCUA collaboration is a three-year agreement that aims to build upon that momentum, and heighten CUs’ share of the SMB lending market. Credit Unions In Growth Mode.

Lending 129

Lending Analytics Data Security 129

PYMNTS

SEPTEMBER 14, 2017

One of the key reasons for the complicated relationship – the term “frenemies” comes to mind – is that FinTech newcomers are demonstrating innovative approaches to traditional banking practices, including financial management services and money transfers, while older banks tend to be wedded to older systems. New tools for new FinTechs.

Innovation 191

Innovation Lending Fintech Bitcoin 191

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. Outdated Lending Practices Fail To Meet SMBs’ Current Needs .

Lending 138

Lending Study Industry Tools 138

PYMNTS

MARCH 7, 2019

The card network has partnered with Open Banking service Konsentus to add an identity and regulatory checking service to its roster of Open Banking tools and technologies. How PSD2 is Changing Lending in the U.K. For more on the security and privacy issues surrounding these regulations, visit the Tracker’s News & Trends section.

Lending 198

Lending Regulation Regional Data 198

PYMNTS

SEPTEMBER 2, 2020

From flexible repayment plans for cash flow management to sustainability programs that offset carbon emissions from fleet vehicles, the commercial card is versatile in this week's innovation roundup. The solution is the result of a collaboration with Visa, the company noted.

Cards 150

Cards Innovation Management Tools 150

Bank Innovation

JUNE 20, 2019

Citizens Bank is generating one-third of its mortgage applications online, thanks to a suite of tools the company rolled early this year and a partnership with San Francisco-based fintech firm Blend.

San Francisco 199

San Francisco Tools User Experience Fintech 199

PYMNTS

JANUARY 18, 2018

Regulation has undoubtedly acted as a catalyst to major financial services trends in areas like small business (SMB) lending, faster payments and, most recently, open banking and collaboration with FinTechs. According to the results, banks argue that innovation, not just regulation, is behind the wheel of progress. Optimism Up.

Regulation 156

Regulation Innovation Fintech Marketing 156

Bank Innovation

AUGUST 2, 2019

The acquisition comes at a time when large institutions are looking to grow their business clientele through new underwriting tools and other technology. American Express acquired business-to-business payment company Acompay this week, allowing the company to automate the accounts payable process for business customers.

Lending 170

Lending Tools Technology Payments 170

Bank Innovation

AUGUST 29, 2018

Marcus, the consumer lending platform of Goldman Sachs, added a new tool that lets users estimate the value certain renovations would add to the price of their house, before applying for a home improvement loan, Bank Innovation has learned.

Marketing 170

Marketing Lending Tools Innovation 170

Perficient

FEBRUARY 29, 2024

Banking institutions are responding by integrating advanced technologies, particularly artificial intelligence and data analytics, into their lending operations to enhance efficiency and adaptability. Explore and integrate alternative data sources and innovative scoring models to offer fairer assessments of creditworthiness.

Trends 221

Trends Industry Analytics Compliance 221

PYMNTS

MARCH 26, 2020

That lack of physical access has been a major stumbling block for FinTechs as they’ve tried to move from offering their customers a specific financial service – such as lending, saving or investing – toward becoming their primary financial services relationship. But the FinTechs, Baird noted, are adapting and innovating around that issue.

Innovation 241

Innovation Fintech Data Examples 241

PYMNTS

NOVEMBER 17, 2020

And on the flipside, lenders and service providers need data to innovate faster and deliver better offerings. We're witnessing an inflection point in embedded finance today, amidst extremely uncertain times. SMB owners need simpler, transparent access to capital. Embedded finance solves this on both sides.".

Tools 167

Tools Capital Analysis Financial Technology 167

Bank Innovation

FEBRUARY 6, 2020

Blend, a startup that sells its loan application technology to banks, is allowing consumers to close mortgages online. The feature, called “Blend Close,” is currently in a pilot stage and integrates into Blend’s existing application technology.

Tools 221

Tools Online Technology Lending 221

PYMNTS

NOVEMBER 28, 2018

The bigger picture, he said, is that the tool is a reflection of much bigger changes in the broader B2B payments ecosystem, not only in the payment rails that facilitate B2B payments, but in the way small businesses interact with the money they’re paid. “The biggest misconception of our customer base is they need to deposit money.”

Lending 168

Lending Payments Cards System 168

PYMNTS

NOVEMBER 5, 2019

Such tools are being used to automate the development of risk profiles, identity verification and data analysis — areas that are key to ensuring quick and secure verification before funds are disbursed. Instant Payment Challenges In Online Lending. The Digital Lending Approach And Real-Time Payments.

Lending 102

Lending Payments Security Fintech 102

Bank Innovation

JULY 5, 2019

The Bank of Montreal has launched a mobile loan application tool for its Canadian customers. Brett Pitts, BMO’s chief digital officer, told Bank.

Tools 150

Tools Mobile Customer Experience Lending 150

PYMNTS

OCTOBER 31, 2019

However, CUs face an innovation gap when compared to big banks that are racing ahead and implementing technology to better evaluate risk, provide personalized insights and foster greater financial inclusion in their markets. Half of U.S. Credit unions that have picked an AI integration starting point still have more barriers to pass.

Innovation 101

Innovation Survey Lending Technology 101

PYMNTS

SEPTEMBER 25, 2017

The Australian market is quickly becoming a hotbed of alternative lending , and new analysis from KPMG suggests it has risen up in the ranks. A key driver of that growth is favorable government policies, researchers said, with regulators around the world exploring how to ensure borrower protections without stifling innovation.

Lending 100

Lending Regional Analysis Survey 100

PYMNTS

SEPTEMBER 19, 2017

The biggest opportunities exist in transaction banking and commercial lending, Finastra said, but there is also a real opportunity in working with FinTechs (and the tech they offer) to help banks land a larger slice of the combined $915 billion in revenues FIs are expected to see at the end of the decade.

Innovation 108

Innovation Survey blockchain Lending 108

PYMNTS

MAY 8, 2018

Small businesses (SMBs) prefer not to seek funding to finance their innovative endeavors, according to new research from BMO Wealth Management , which suggests SMBs are missing out on opportunities to drive growth. 1 necessity for an entrepreneur’s innovative initiatives. A survey of more than 1,021 small businesses in the U.S.

Innovation 119

Innovation Survey Tools Management 119

Bank Innovation

JANUARY 5, 2020

Borrowell, the Canadian financial product recommendation and lending platform reminiscent of Credit Karma, is getting into a subscription model. The six-year-old company is currently testing a tool called Borrowell Boost that predicts how much customers will have in their bank accounts after bills are paid.

Lending 221

Lending Tools Company Customer Experience 221

Gonzobanker

MAY 15, 2023

Data-driven best practices will help ensure a successful consumer lending transformation. It’s 2023 and innovations like AI are gaining steam, but dated systems and clunky processes continue to clog the consumer loan pipeline in most financial institutions. Our firm would like to see that number much higher.

Lending 154

Lending Leadership System Data 154

Bank Innovation

AUGUST 10, 2017

Alternative investing service NSR Invest will combine with roboadvisory LendingRobot to form a new roboadvisor platform in the alternative lending space, the companies said today. The two companies were formed with very similar services in mind,” Bo Brustkern, CEO of NSR Invest, told Bank Innovation.

Lending 150

Lending Tools Innovation Company 150

PYMNTS

MARCH 30, 2017

Alternative lending was supposed to be the way SMEs broke through banking barriers to gain access to capital, enabling them to boost growth opportunities, investment options, commercialization of innovations and employment. This is not entirely unusual, as alternative lending is still a relatively new and growing category.

Lending 100

Lending Capital Operations Software 100

Abrigo

JUNE 9, 2020

Furthermore, adopting technology has allowed banks to grow safely and soundly, with innovations that make the loan portfolio more defensible. Financial institutions should look to technologies that allow for the automation of manual data entry to mitigate risk and allow the institution to grow safely. Learn more.

Technology 195

Technology Lending Compliance Data 195

CFPB Monitor

MAY 7, 2020

The CFPB’s annual fair lending report covering its 2019 activities is scheduled to be published in tomorrow’s Federal Register. The Bureau states that an area of innovation that it is monitoring for fair lending and credit access issues is “artificial intelligence (AI), and more specifically, machine learning (ML), a subset of AI.”

Lending 78

Lending Report FDIC Policies 78

PYMNTS

AUGUST 31, 2017

The merchant cash advance tool is available to the current 24,000 users of ShopKeep’s POS services. ShopKeep’s mission has been to innovatively support the growth of the independent businesses we serve while making the lives of their owners and staff easier,” DeSimone continued. On Wednesday (Aug.

Lending 113

Lending Marketing Capital Tools 113

Insights on Business

OCTOBER 3, 2018

IBM RegTech Innovations. Innovations like pervasive encryption and secure service containers extend IBM Z leadership in cybersecurity, which is why it runs IBM’s blockchain network. Advances in artificial intelligence (AI), blockchain, and cybersecurity are poised to transform the financial services industries.

Industry 155

Industry Innovation blockchain Compliance 155

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

South State Correspondent

MARCH 14, 2024

The bank that will be around in the next 50 years will be one that develops the ability to build infrastructure now that allows for efficient innovation in the future. Banks need to evaluate new technology, new lending areas, and new cash management levels to name a few with a longer time horizon and with some process rigor.

Innovation 195

Innovation Strategy Capital Comparison 195

PYMNTS

JANUARY 14, 2020

In fact, PYMNTS research indicates that consumers are not only increasingly comfortable using smartphones as financial management tools, but they seem to regard them as indispensable for this purpose. Mobile wallets and other forms of digital payments are also important to this consumer segment, which has pretty much grown up using them.

Innovation 160

Innovation Payments Millennials Cards 160

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