The Student Borrower Protection Center released a report which digs into how education data in underwriting may be causing educational...
Justin Banon's vision is for Boson Protocol to be where all of the world's products and services are listed and searchable, with code-automated commerce and no intermediary hogging fees.
Robots have begun helping to take over menial tasks at banks and now there is talk that a full back office operation is not far away; "I think we're going to see it move from a few narrow functions to across the enterprise," said Alan McIntyre, the industry managing director for banking at Accenture; making these changes will help banks to cut costs and improve efficiency, at least when times get extremely busy; banks won't yet fully remove the human component but the trend is moving in the direction of more automation when running the back office. Source
Banks are coming under increasing pressure to update legacy systems and provide a more digitized experience to customers, automated bots are another tool beginning to be used; while most banks are still in pilot mode, some are beginning to have wider adoption as they have seen how technology in other areas of the bank have improved efficiency and experience; "The technology works and banks are starting to have more confidence in them," explained KPMG's Managing Director for Emerging Technology Risk Services Kiran Nagaraj, bots can help make interaction with customers more efficient and allow for high-volume, repetitive processes and tasks to be done a lot faster. Source
Lending global payments company BPC has announced that Chile-based fintech Klap uses its technology to support payment processing requirements in th
Digital banking is having its moment and the bank branch should be quite worried; branch traffic is down 30 percent...
Challenger bank Branch is partnering with Domino’s to help employees get paid after each shift and provide them with financial...
U.S banks closed more than 1700 branches in the year dated June 2016 to June 2017, one of the largest drops on record; more than half of U.S. customers still prefer opening an account at a a branch, when compared to the UK market which shows more than half of customers would rather open accounts digitally; leading vendors like NCR and Diebold have seen revenues drop with the branch products pointing to a decline in the importance of the branch; while branches are still looked at as important to U.S. banks bottom line the trend still points to less branches and more digital in the coming years. Source.
Branchless banks have started to show their staying power when it comes to deposits in recent quarters even as they...
Brankas is taking cues from their counterparts in the U.S. and Europe to become the digital banking platform for Southeast...