Barclays US is trying to ensure they use AI in a efficient yet non intrusive way so their customers can get the most out of the technology; Tearsheet spoke with Mona Jantzi, managing director of strategic analytics and customer experience at Barclays US, to learn more about how the bank uses AI; topics discussed include using data to shape customer experience, going beyond product offerings, the dangers of AI use with data and more. Source.
Securitization continues to grow for the marketplace lending sector. As they do at this time every quarter PeerIQ released their Securitization Tracker. It showed another strong quarter with $4.3 billion of total issuance. This total was up 34% from Q1 2017 but down slightly from the record total in Q4 2017. Source.
Watch live today at 2:30pm ET as LendIt Fintech International Innovator of the Year award winner Imad Malhas, CEO, IrisGuard talks about financial inclusion, technology, and refugees at the World Bank Group Meetings. Source.
Banks know they need to update legacy technology, but investors are beginning to question at what cost can the banks innovate versus making profits; ensuring they stay competitive when it comes to technology, though keeping costs from skyrocketing is a tightrope more second and third tier banks are trying to navigate every day. Source.
With competition heating up for investors p2p lending platform Ratesetter is now offering £100 for opening a new Innovative Finance ISA with the platform; the company launched their IFISA in February and are advertising a 5 percent return on the highest risk product. Source.
There is a growing competition brewing in the payments space and Affirm is look to stay near the top as they recently announced the move into financing small ticket purchases; the move comes after Visa and MasterCard made similar announcements; the payments space has become a highly competitive market where customers look for the simplest, most transparent way to make a purchase of any size. Source.
Banks can take a lot of lessons from Facebook in regards to the ongoing data problems with Cambridge Analytica; as data sharing becomes commonplace in banking, banks and their partners need to ensure information is kept secure and not used for nefarious reasons. Source.
China online consumer finance platform LexinFintech announced it will invest more than $150mn in partnerships over the next three years; the company’s CEO said the investment will focus on co-branded credit cards with financial institutions, expanding services to include more use cases and working on technology cooperation. Source.
Last week the sixth annual LendIt Fintech USA conference took place in San Francisco. Here are Peter Renton’s thoughts on some of the ideas that were shared by the keynote speakers as well as a summary of the rest of the event. Source.